Dermatological Drugs - Malta | Statista Market Forecast

The Dermatological Drugs market in Malta is projected to reach a revenue of US$3.04m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 6.43%, resulting in a market volume of US$4.15m by 2029.
In comparison to other countries, United States is anticipated to generate the highest revenue of US$11.67bn in 2024.
Malta's dermatological drugs market is experiencing a surge in demand due to the country's high prevalence of skin conditions.

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 Malta has been growing steadily over the past few years.

Customer preferences: Customers in Malta are increasingly becoming more conscious about their skin health and are willing to invest in dermatological drugs to maintain healthy skin. The rise in disposable income and awareness about the benefits of using dermatological drugs has led to an increase in demand for these products. Additionally, the aging population in Malta has also contributed to the growth of the dermatological drugs market.

Trends in the market: One of the major trends in the dermatological drugs market in Malta is the increasing popularity of natural and organic products. Customers are becoming more aware of the harmful chemicals present in traditional dermatological drugs and are opting for natural alternatives. This trend is in line with the global shift towards natural and organic products.Another trend in the market is the increasing availability of dermatological drugs online. E-commerce platforms have made it easier for customers to access a wide range of dermatological drugs from the comfort of their homes. This trend has further fueled the growth of the market.

Local special circumstances: Malta being a small island nation, has limited resources for manufacturing dermatological drugs. As a result, most of the products available in the market are imported. This has led to higher prices for dermatological drugs in Malta as compared to other countries in the European Union.

Underlying macroeconomic factors: The Maltese economy has been growing steadily over the past few years. The rise in disposable income has led to an increase in demand for luxury products, including dermatological drugs. Additionally, the aging population in Malta has also contributed to the growth of the market.In conclusion, the dermatological drugs market in Malta is growing steadily due to increasing customer awareness about skin health and the availability of a wide range of products online. However, the limited resources for manufacturing dermatological drugs in Malta has led to higher prices for these products.

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.