Key regions: United Kingdom, Canada, Japan, Europe, China
The demand for dermatological drugs in South America has been steadily increasing in recent years.
Customer preferences: Customers in South America have shown a growing interest in dermatological drugs due to the rising prevalence of skin diseases and disorders such as acne, psoriasis, and eczema. In addition, the increasing awareness of the importance of skincare and the availability of advanced treatments have also contributed to the growth of the market.
Trends in the market: Brazil is the largest market for dermatological drugs in South America, accounting for a significant share of the market. The country's large population and high prevalence of skin diseases have contributed to the growth of the market. Furthermore, the increasing demand for cosmetic dermatology procedures has also driven the market growth in Brazil. Argentina and Colombia are also emerging as promising markets for dermatological drugs due to the increasing awareness of skin health and the availability of advanced treatments.
Local special circumstances: In Brazil, the high demand for cosmetic dermatology procedures has led to the development of a large and competitive market for aesthetic dermatology products. This has resulted in the launch of several innovative products and treatments in the market. In Colombia, the government has implemented several initiatives to increase access to healthcare services, including dermatology treatments, which has contributed to the growth of the market.
Underlying macroeconomic factors: The economic growth in South America has led to an increase in disposable income, which has enabled customers to spend more on healthcare and aesthetic treatments. Furthermore, the growing middle-class population in the region has also contributed to the growth of the market. The increasing investments in the healthcare sector and the development of advanced treatments have also played a significant role in the growth of the dermatological drugs market in South America.
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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