Dermatological Drugs - LATAM

LATAM

Revenue in the Dermatological Drugs market is projected to reach US$0.92bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.74%, resulting in a market volume of US$1.15bn by 2028.
In global comparison, most revenue will be generated in the United States (US$11,670.00m in 2024).

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

Market

Region

Region comparison

Currency

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.

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.