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Dermatological Drugs - LATAM

LATAM
  • Revenue in the Dermatological Drugs market is projected to reach US$918.60m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.81%, resulting in a market volume of US$1.15bn by 2028.
  • In global comparison, most revenue will be generated United States (US$11.67bn in 2024).

Definition:
The Dermatological Drugs market covers treatments of diseases related to skin, nails, hair, and genital membranes. Typical examples are medications for eczema, acne, and rosacea. These preparations include ointments, creams, gels, pills, capsules, washing lotions, peelings, pastes, solutions, and sprays. Products which are primarily used for cosmetic purposes are not included.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Johnson & Johnson, Bayer, Leo Pharma, Galderma

In-Scope

  • Drugs to treat diseases related to skin, nails, hair, and genital membranes
  • Steroids such as corticosteroids (topical and systemic)
  • Topical antihistamines
  • Antifungals

Out-Of-Scope

  • Cosmetic products
  • Immunosuppressants to treat psoriasis
  • Skin cancer treatment
Pharmaceuticals

Pharmaceuticals

Related markets:
Dermatological Drugs: market data & analysis - Cover

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Dermatological Drugs: market data & analysis

Study Details
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    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Analyst Opinion

    Growth in the Dermatological Drugs market is particularly high. This expansion is mainly driven by three factors: an increasing number of patients due to environmental conditions triggering skin problems, higher awareness of dermatological issues, resulting in rising expenditure on personal care, and large investments by companies in novel dermatological drugs. As the increase in awareness is most pronounced in emerging markets, they can be seen as the main global growth drivers.

    The Dermatology market is characterized by a large share of OTC and low-priced products as well as by a high penetration compared to other markets. Certain products have low importance in terms of health, especially items that are not purchased due to health issues but rather for lifestyle reasons. Consequently, the COVID-19 pandemic had a strong negative impact on the market in 2020, followed by a recovery in the following years.

    Global Comparison

    Most recent update: Mar 2024

    Source: Statista Market Insights

    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.

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    Global pharmaceutical industry - statistics & facts

    The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.
    More data on the topic
    Revenue of the worldwide pharmaceutical market in 2023
    1.6tr USD
    Revenue share of the North American pharmaceutical market in 2023
    53.3%
    Pharmaceutical sales in oncologics in 2023
    214bn USD

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