Dermatological Drugs - Northern Europe

Northern Europe

In Northern Europe, the Dermatological Drugs market is forecasted to achieve a revenue of US$269.30m in 2024.
Moreover, it is anticipated that this market will witness a steady annual growth rate (CAGR 2024-2029) of 5.37%, leading to a market volume of US$349.80m by 2029.
When compared globally, United States is expected to generate the highest revenue in this market, amounting to US$11,670.00m in 2024.
In Northern Europe, the demand for dermatological drugs is on the rise, driven by the region's high awareness of skincare and prevalence of skin conditions.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for dermatological drugs in Northern Europe has been steadily increasing over the years.

Customer preferences: Consumers in Northern Europe are becoming increasingly aware of the importance of skincare and are willing to invest in high-quality dermatological drugs. The demand for natural and organic products is also on the rise, as consumers are becoming more conscious of the ingredients in the products they use.

Trends in the market: One of the major trends in the dermatological drugs market in Northern Europe is the increasing demand for prescription drugs. This is due to the rising prevalence of skin diseases such as eczema, psoriasis, and acne. Another trend is the growing popularity of online sales channels, which provide consumers with a convenient way to purchase dermatological drugs.

Local special circumstances: The Nordic countries in Northern Europe have a strong tradition of natural and organic products, which has led to an increase in demand for dermatological drugs that are free from harmful chemicals and synthetic ingredients. Additionally, the harsh winter climate in Northern Europe can lead to skin problems, which has further contributed to the demand for dermatological drugs.

Underlying macroeconomic factors: The healthcare sector in Northern Europe is well-developed and has a high level of public funding, which has contributed to the availability of dermatological drugs. Additionally, the region has a high standard of living and disposable income, which has allowed consumers to invest in high-quality skincare products. The aging population in Northern Europe is also a contributing factor, as older individuals are more likely to suffer from skin conditions that require 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.