Dermatological Drugs - Jordan

Jordan

The Dermatological Drugs market in Jordan is expected to witness a significant growth in revenue, projected to reach US$6.06m by 2024.
This growth is anticipated to be driven by an annual growth rate (CAGR 2024-2029) of 5.45%, leading to a market volume of US$7.90m by 2029.
In comparison to other countries worldwide, United States is expected to generate the highest revenue in this market, amounting to US$11,670.00m in 2024.
In Jordan, the demand for dermatological drugs has been increasing due to the rising prevalence of skin diseases and a growing awareness of skincare among the population.

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

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Analyst Opinion

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

Customer preferences: Jordan's population has a high incidence of skin diseases, including psoriasis and eczema, which has led to an increased demand for dermatological drugs. Additionally, the country's growing middle class has more disposable income to spend on healthcare, including dermatological treatments.

Trends in the market: The dermatological drugs market in Jordan is expected to continue to grow due to the increasing prevalence of skin diseases and the availability of new and innovative treatments. Topical corticosteroids are the most commonly prescribed dermatological drugs in Jordan, followed by antifungal agents and acne treatments. However, there is a growing demand for biologics and other advanced therapies, which offer more targeted and effective treatments for skin diseases.

Local special circumstances: Jordan's healthcare system is heavily subsidized by the government, which has helped to make dermatological drugs more affordable for patients. Additionally, the country has a well-established pharmaceutical industry, which produces many of the dermatological drugs sold in Jordan. However, there are concerns about the quality of some locally produced drugs, which has led to increased demand for imported products.

Underlying macroeconomic factors: Jordan's economy has been growing steadily in recent years, which has led to an increase in healthcare spending. Additionally, the country's strategic location in the Middle East has made it an attractive market for pharmaceutical companies looking to expand their presence in the region. However, ongoing political instability in the region and the impact of the COVID-19 pandemic could pose challenges for the dermatological drugs market in Jordan in the coming years.

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.