Key regions: United Kingdom, Canada, Japan, Europe, China
Kenya, a country in East Africa, has a growing demand for dermatological drugs due to various factors.
Customer preferences: Kenyan customers prefer affordable and accessible dermatological drugs. They tend to purchase generic drugs over branded ones due to their lower cost. Additionally, they prefer to buy drugs from local pharmacies instead of hospitals or clinics.
Trends in the market: The dermatological drugs market in Kenya is growing due to an increase in skin diseases such as acne, eczema, and psoriasis. The rise in skin diseases can be attributed to environmental factors such as pollution, climate change, and exposure to UV radiation. Moreover, the growing awareness among Kenyans about skincare and the availability of over-the-counter (OTC) drugs have also contributed to the growth of the market.
Local special circumstances: Kenya has a tropical climate, which makes it more prone to skin diseases. The high humidity and temperature make it easier for bacteria and fungi to thrive, leading to skin infections. Additionally, the lack of access to clean water and sanitation in some parts of the country can also contribute to skin diseases.
Underlying macroeconomic factors: The government of Kenya has taken initiatives to improve the healthcare system in the country. The government has increased the budget allocation for healthcare and has launched programs to provide free healthcare services to low-income families. The government has also taken steps to regulate the pharmaceutical industry and improve the quality of drugs available in the market. These initiatives have contributed to the growth of the dermatological drugs market in Kenya.In conclusion, the dermatological drugs market in Kenya is growing due to various factors such as an increase in skin diseases, customer preferences for affordable and accessible drugs, and the government's initiatives to improve the healthcare system. The market is expected to continue to grow in the future due to the rising awareness among Kenyans about skincare and the availability of OTC drugs.
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.
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