Key regions: United Kingdom, Canada, Japan, Europe, China
Malawi, a landlocked country in southeastern Africa, has been experiencing a steady growth in its healthcare sector. As the population grows, so does the demand for healthcare services, including dermatological drugs.
Customer preferences: The majority of the population in Malawi lives in rural areas, and access to healthcare services can be limited. As a result, customers in these areas tend to rely on traditional medicine rather than modern pharmaceuticals. However, there is a growing interest in modern medicine, especially among urban dwellers, who are more likely to seek out dermatological drugs for skin conditions.
Trends in the market: The dermatological drugs market in Malawi has been growing steadily over the past few years, driven by an increase in the prevalence of skin conditions such as eczema, acne, and psoriasis. There has also been a rise in demand for skin lightening products, which are popular among women in Malawi. However, the market is still relatively small compared to other countries in the region.
Local special circumstances: One of the challenges facing the dermatological drugs market in Malawi is the lack of dermatologists and other healthcare professionals with expertise in skin conditions. This means that many patients are not receiving the appropriate diagnosis and treatment for their skin conditions. In addition, there is a lack of awareness about the importance of skin health, which can lead to delays in seeking treatment.
Underlying macroeconomic factors: Malawi is one of the poorest countries in the world, with a low GDP per capita and high levels of poverty. As a result, many people cannot afford to pay for healthcare services, including dermatological drugs. The government has been working to improve access to healthcare services, but progress has been slow. In addition, the country is heavily reliant on donor funding for healthcare, which can be unpredictable and subject to political changes.
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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