Dermatological Drugs - Norway | Statista Market Forecast

The Dermatological Drugs market in Norway is anticipated to witness a significant growth in revenue, projected to reach US$63.39m in 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 4.73%, leading to a market volume of US$79.85m by 2029.
In a global perspective, United States is predicted to generate the highest revenue in this market, with an estimated value of US$11.67bn in 2024.
Norway is experiencing a growing demand for dermatological drugs due to an increase in skin conditions caused by the country's harsh climate.

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

Norway is a country with a high standard of living and a well-developed healthcare system. The Dermatological Drugs market in Norway is driven by several factors that are unique to the country.

Customer preferences: Norwegian consumers are health-conscious and are willing to pay a premium for products that are safe and effective. They prefer natural and organic products, which has led to an increase in demand for dermatological drugs that are formulated with natural ingredients. Consumers in Norway also have a preference for products that are eco-friendly and sustainable.

Trends in the market: The Dermatological Drugs market in Norway is growing due to an increase in the prevalence of skin diseases and disorders. The market is also being driven by an increase in the aging population, which is more prone to skin problems. In addition, the market is being driven by the development of new drugs and technologies, which are more effective and have fewer side effects than traditional treatments.

Local special circumstances: Norway has a high incidence of skin cancer, which has led to an increase in demand for dermatological drugs that can treat and prevent the disease. The country also has a high incidence of eczema and psoriasis, which has led to an increase in demand for drugs that can treat these conditions. In addition, Norway has a cold and dry climate, which can exacerbate skin problems and lead to an increase in demand for dermatological drugs.

Underlying macroeconomic factors: Norway has a strong economy and a high standard of living, which has led to an increase in demand for high-quality healthcare products, including dermatological drugs. The country also has a well-developed healthcare system, which provides easy access to healthcare services and products. In addition, Norway has a high level of education and awareness about health and wellness, which has led to an increase in demand for dermatological drugs that are safe and effective.

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 global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.