Dermatological Drugs - New Zealand

In New Zealand, the Dermatological Drugs market is anticipated to witness a significant increase in revenue, with projected earnings reaching NZ US$26.31m in the year 2024.
It is expected that this market will experience a steady growth rate of 5.71% annually from 2024 to 2029, resulting in a market volume of NZ US$34.73m by the end of the forecast period.
When compared globally, it is noteworthy that United States will generate the highest revenue in the Dermatological Drugs market, reaching an impressive sum of US$11.67bn in 2024.
New Zealand's dermatological drugs market is experiencing a surge in demand for natural and organic skincare products.

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 New Zealand has been on the rise in recent years.

Customer preferences: Customers in New Zealand prefer dermatological drugs that are effective and affordable. They also prefer drugs that have minimal side effects and are easy to apply.

Trends in the market: The dermatological drugs market in New Zealand is driven by the increasing prevalence of skin diseases such as eczema, psoriasis, and acne. The aging population is also contributing to the growth of the market as the elderly are more prone to skin diseases. Another trend in the market is the growing popularity of natural and organic skincare products. Consumers are becoming more aware of the potential harm that chemicals in skincare products can cause and are therefore opting for natural alternatives.

Local special circumstances: New Zealand has a high incidence of skin cancer, which has led to increased awareness about the importance of sun protection. This has resulted in a growing demand for sunscreens and other skincare products that offer protection against UV radiation. Another special circumstance in the market is the high prevalence of eczema in New Zealand, which has led to the development of specialized dermatological drugs to treat the condition.

Underlying macroeconomic factors: The New Zealand economy has been growing steadily in recent years, which has led to an increase in disposable income. This has allowed consumers to spend more on skincare products, including dermatological drugs. Another macroeconomic factor that is driving the growth of the market is the increasing availability of healthcare services in the country. This has led to more people seeking treatment for skin diseases, which has in turn increased the demand for dermatological drugs.

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 pharmaceutical industry is responsible for the research, development, production, and distribution of medications. The market has experienced significant growth during the past two decades, and pharma revenues worldwide totaled 1.48 trillion U.S. dollars in 2022.