Dermatological Drugs - Japan

Japan

The Dermatological Drugs market in Japan is expected to witness a significant growth in revenue, with projections indicating that it will reach ¥US$0.87bn by 2024.
Furthermore, this market is anticipated to display a promising annual growth rate (CAGR 2024-2029) of 5.55%, ultimately leading to a market volume of ¥US$1.14bn by 2029.
When compared globally, United States is predicted to generate the highest revenue in this sector, estimated to be US$11,670.00m in 2024.
The demand for dermatological drugs in Japan is soaring due to the increasing prevalence of skin-related conditions.

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

Market

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Currency

Analyst Opinion

The demand for dermatological drugs in Japan has been on the rise in recent years.

Customer preferences: Japanese customers are becoming increasingly conscious of their skin health and appearance, leading to a higher demand for dermatological drugs. Additionally, Japan's aging population has also contributed to the growth of this market, as older individuals are more likely to suffer from skin-related issues.

Trends in the market: One trend in the Japanese dermatological drugs market is the increasing popularity of natural and organic products. Consumers are seeking out products that are gentle on their skin and have minimal side effects. Another trend is the rise of personalized skincare, with companies offering customized products based on an individual's skin type and concerns.

Local special circumstances: Japan has a unique market for dermatological drugs due to its strict regulations on cosmetics and pharmaceuticals. Products must undergo rigorous testing and approval processes before they can be sold in the country, leading to a higher level of quality and safety for consumers.

Underlying macroeconomic factors: Japan's economy has been experiencing a period of slow growth and deflation, which has led to increased competition in the dermatological drugs market. Companies are looking for ways to differentiate themselves and offer innovative products to stand out in the crowded market. Additionally, the government's efforts to promote tourism have led to an increase in demand for skincare products from international visitors.

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.