Dermatological Drugs - Israel

Israel

The Dermatological Drugs market in Israel is expected to witness significant growth in the coming years.
According to projections, the market's revenue is projected to reach US$58.55m in 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 5.65% from 2024 to 2029, resulting in a market volume of US$77.08m by the end of 2029.
When comparing the global market, it is worth noting that United States is expected to generate the highest revenue in the Dermatological Drugs market.
In 2024, United States is projected to generate a revenue of US$11,670.00m.
Israel has seen a surge in demand for dermatological drugs, driven by a growing awareness of skin health and an aging population.

Key regions: United Kingdom, Canada, Japan, Europe, China

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Currency

Analyst Opinion

The demand for dermatological drugs in Israel has been increasing steadily over the past few years.

Customer preferences: Customers in Israel are becoming increasingly aware of the importance of personal care, especially when it comes to skin health. They are willing to invest in high-quality dermatological drugs that can help them maintain healthy skin. Additionally, the aging population in Israel is also contributing to the growth of the dermatological drugs market, as older individuals tend to have more skin-related issues.

Trends in the market: One of the major trends in the dermatological drugs market in Israel is the shift towards natural and organic products. Customers are becoming more conscious of the ingredients in their skincare products and are opting for products that are free from harmful chemicals. Another trend is the increasing popularity of prescription dermatological drugs, as more people are seeking professional help for their skin issues.

Local special circumstances: Israel has a high prevalence of skin-related issues, such as psoriasis and eczema, which is contributing to the growth of the dermatological drugs market. Additionally, the country has a well-developed healthcare system, which makes it easier for individuals to access dermatological drugs.

Underlying macroeconomic factors: The Israeli economy has been growing steadily over the past few years, which has led to an increase in disposable income. This, in turn, has led to an increase in consumer spending on personal care products, including dermatological drugs. Additionally, the government of Israel has been investing in the healthcare sector, which has led to an increase in the availability of dermatological drugs in the country.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.