Dermatological Drugs - Lithuania | Statista Market Forecast

The Dermatological Drugs market in Lithuania is forecasted to achieve a revenue of US$6.95m in 2024.
It is expected that the revenue will experience an annual growth rate (CAGR 2024-2029) of 5.83%, leading to a market volume of US$9.22m by 2029.
When compared globally, United States is projected to generate the highest revenue of US$11.67bn in 2024.
Lithuania's dermatological drugs market is experiencing a surge in demand driven by the increasing prevalence of skin disorders and a growing focus on skincare among the population.

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 Lithuania has been on the rise in recent years.

Customer preferences: Lithuanian customers are increasingly becoming more aware of skin health and are seeking effective solutions to treat various skin conditions. This has led to a growing demand for dermatological drugs, including topical creams, gels, and ointments that can effectively treat skin conditions such as acne, eczema, and psoriasis.

Trends in the market: One of the major trends in the dermatological drugs market in Lithuania is the increasing popularity of natural and organic products. Lithuanian customers are becoming more conscious about the ingredients in the products they use and are opting for products with natural and organic ingredients. This has led to an increase in the demand for dermatological drugs made from natural ingredients.Another trend in the market is the growing popularity of online sales channels. Lithuanian customers are increasingly turning to online platforms to purchase dermatological drugs, due to the convenience and ease of access offered by online shopping.

Local special circumstances: The Lithuanian market for dermatological drugs is relatively small compared to other European countries. However, the market is expected to grow in the coming years due to increasing awareness about skin health and the availability of effective treatment options.

Underlying macroeconomic factors: The Lithuanian economy has been growing steadily in recent years, which has led to an increase in disposable income among Lithuanian customers. This has enabled customers to spend more on healthcare products, including dermatological drugs.In conclusion, the dermatological drugs market in Lithuania is expected to continue growing in the coming years, driven by increasing customer awareness about skin health, the popularity of natural and organic products, and the availability of effective treatment options. The growing popularity of online sales channels is also expected to contribute to the growth of the 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.