Dermatological Drugs - Moldova

Moldova

The Dermatological Drugs market in Moldova is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$1.22m in 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 4.77% from 2024 to 2029, resulting in a market volume of US$1.54m by 2029.
In terms of global comparison, United States is expected to generate the highest revenue in the Dermatological Drugs market, reaching a staggering US$11,670.00m in 2024.
The demand for dermatological drugs in Moldova is on the rise due to an increasing awareness of skin health among the population.

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

Market

Region

Region comparison

Currency

Analyst Opinion

Dermatological drugs have been in high demand in Moldova due to the rising prevalence of skin diseases.

Customer preferences: Moldova has a relatively high incidence of skin diseases, which has led to a high demand for dermatological drugs. The country has a population that is largely affected by eczema, psoriasis, and acne, which has led to an increase in the demand for topical and oral medications. The majority of consumers in Moldova prefer to purchase branded drugs over generics, as they believe that branded drugs are more effective.

Trends in the market: The dermatological drugs market in Moldova has been growing steadily over the years, due to an increase in the number of people suffering from skin diseases. The market has also seen a shift towards more innovative treatments, such as biologics, which have shown promising results in treating psoriasis and other skin diseases. The demand for topical drugs has also been increasing, as they are more convenient to use and have fewer side effects than oral medications.

Local special circumstances: Moldova has a relatively low GDP per capita, which has led to a high level of price sensitivity among consumers. The majority of consumers in Moldova are willing to pay for branded drugs, but only if they are affordable. As a result, many pharmaceutical companies have had to adjust their pricing strategies to remain competitive in the market.

Underlying macroeconomic factors: Moldova has a relatively small pharmaceutical market, which has led to a high level of competition among pharmaceutical companies. The market is also heavily regulated, which has made it difficult for new players to enter. The government has been working to improve the regulatory framework, which has led to an increase in foreign investment in the pharmaceutical sector. However, the market remains highly fragmented, with many small players competing for market share.

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.