Key regions: United Kingdom, Canada, Japan, Europe, China
The demand for dermatological drugs in Myanmar has been on a steady rise in recent years.
Customer preferences: The majority of the population in Myanmar live in rural areas, where access to healthcare facilities is limited. As a result, self-medication is a common practice in the country. This has led to a high demand for over-the-counter dermatological drugs.
Trends in the market: The dermatological drugs market in Myanmar is primarily driven by the increasing prevalence of skin diseases such as eczema, psoriasis, and acne. The rise in disposable income and awareness about personal grooming has also contributed to the growth of the market. Additionally, the market is witnessing a shift towards natural and herbal products due to the cultural preference for traditional medicine.
Local special circumstances: The healthcare system in Myanmar is still in its nascent stage, with limited access to healthcare facilities, especially in rural areas. This has led to an increase in the demand for over-the-counter dermatological drugs. Moreover, the country's hot and humid climate makes it prone to skin diseases, further fueling the demand for dermatological drugs.
Underlying macroeconomic factors: Myanmar is one of the fastest-growing economies in Southeast Asia, with a young and growing population. The rise in disposable income has led to an increase in demand for personal care products, including dermatological drugs. Additionally, the government's efforts to improve healthcare infrastructure and expand access to healthcare facilities are expected to boost the demand for prescription dermatological drugs in the coming years.In conclusion, the dermatological drugs market in Myanmar is expected to continue its growth trajectory in the coming years, driven by the increasing prevalence of skin diseases, rise in disposable income, and the government's efforts to improve healthcare infrastructure. The market is likely to witness a shift towards natural and herbal products due to the cultural preference for traditional medicine.
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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