Dermatological Drugs - Lebanon | Statista Market Forecast

The Lebanese Dermatological Drugs market is anticipated to witness a significant increase in revenue, reaching US$5.01m in 2024.
Moreover, it is expected to display a robust annual growth rate (CAGR 2024-2029) of 4.44%, culminating in a market volume of US$6.23m by 2029.
When compared to other countries worldwide, United States is projected to generate the highest revenue of US$11.67bn in 2024.
Lebanon's dermatological drugs market is experiencing a surge in demand due to rising awareness and an increasing number of dermatology clinics in the country.

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

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

Cosmetic products
Immunosuppressants to treat psoriasis
Skin cancer treatment

The demand for dermatological drugs in Lebanon is on the rise due to several reasons.

Customer preferences: Lebanon has a high demand for dermatological drugs due to the increasing awareness of skin diseases among the population. People are becoming more conscious about their skin health and are willing to spend on dermatological drugs. Additionally, Lebanon has a hot and humid climate, which makes it more prone to skin diseases like acne, eczema, and psoriasis.

Trends in the market: The dermatological drugs market in Lebanon is growing at a steady pace due to the increasing prevalence of skin diseases and the availability of advanced treatments. The market is witnessing a shift towards biologics, which are more effective in treating chronic skin diseases like psoriasis and atopic dermatitis. Moreover, the market is also experiencing a rise in demand for over-the-counter (OTC) dermatological drugs due to their easy availability and affordability.

Local special circumstances: Lebanon has a strong healthcare system, which is a major factor driving the growth of the dermatological drugs market. The country has a high number of dermatologists per capita, which ensures that patients receive proper diagnosis and treatment. Additionally, the government has taken several initiatives to improve access to healthcare services, which has further boosted the demand for dermatological drugs.

Underlying macroeconomic factors: The Lebanese economy has been facing several challenges in recent years, including political instability, high inflation, and currency devaluation. However, the demand for dermatological drugs has remained resilient due to the increasing prevalence of skin diseases and the availability of advanced treatments. Moreover, the government's focus on improving access to healthcare services has also contributed to the growth of the dermatological drugs market.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

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.