Dermatological Drugs - Nordics

Nordics

In the Nordics, the Dermatological Drugs market is forecasted to achieve a revenue of US$251.80m by the year 2024.
It is anticipated that the revenue will demonstrate a compound annual growth rate (CAGR 2024-2029) of 5.32%, which will consequently lead to a market volume of US$326.30m by 2029.
When comparing globally, United States is expected to generate the highest revenue, reaching US$11,670.00m in 2024.
In the Nordics, the market for dermatological drugs is witnessing a surge in demand for natural and organic skincare products.

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

Market

Region

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Currency

Analyst Opinion

The demand for dermatological drugs in the Nordics has been on the rise in recent years.

Customer preferences: Customers in the Nordics are becoming increasingly conscious of their skin health, which has led to a growing demand for dermatological drugs. In addition, the aging population in the region has resulted in a higher prevalence of skin conditions such as psoriasis and eczema, further driving the demand for these drugs.

Trends in the market: One of the key trends in the dermatological drugs market in the Nordics is the increasing adoption of biologic drugs. Biologics have been found to be highly effective in treating various skin conditions, and their popularity is expected to continue to rise in the coming years. Another trend is the growing use of topical drugs, which are easy to apply and have fewer side effects compared to systemic drugs.

Local special circumstances: The Nordics have a highly developed healthcare system, which has contributed to the growth of the dermatological drugs market. The region has a high per capita healthcare expenditure, and the government provides universal healthcare coverage to its citizens. This has made it easier for patients to access dermatological drugs and has contributed to the growth of the market.

Underlying macroeconomic factors: The Nordics have a strong and stable economy, which has contributed to the growth of the dermatological drugs market. The region has a high GDP per capita and low unemployment rates, which has increased the purchasing power of consumers. In addition, the region has a well-developed pharmaceutical industry, which has led to the availability of a wide range of dermatological drugs.

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.