Dermatological Drugs - Ukraine | Statista Market Forecast

The Dermatological Drugs market in Ukraine is expected to witness a significant growth in revenue, reaching US$11.02m by 2024.
This projection indicates an annual growth rate (CAGR 2024-2029) of 5.88%, leading to a market volume of US$14.67m by 2029.
When compared globally, United States is anticipated to generate the highest revenue, amounting to US$11.67bn in 2024.
Ukraine's dermatological drugs market is experiencing a surge in demand due to increasing awareness about skincare and beauty among the population.

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 Ukraine has been steadily increasing over the years.

Customer preferences: There is a growing preference for topical dermatological drugs in Ukraine due to their ease of use and availability over-the-counter. Additionally, there is a rising demand for dermatological drugs that cater to specific skin conditions such as acne, eczema, and psoriasis.

Trends in the market: The dermatological drugs market in Ukraine is expected to experience significant growth due to an increase in the prevalence of skin diseases and the aging population. Furthermore, the market is expected to be driven by the introduction of new and innovative dermatological drugs, which are more effective in treating skin conditions.

Local special circumstances: Ukraine's healthcare system is still in the process of reform, which has resulted in a lack of funding for healthcare facilities. As a result, patients often have to pay out-of-pocket for their medical expenses, including dermatological drugs. This has led to a growing demand for affordable dermatological drugs in the country.

Underlying macroeconomic factors: The Ukrainian economy has been struggling in recent years, which has resulted in a decrease in disposable income for many households. However, the demand for dermatological drugs has remained high, indicating that skin health is still a priority for many Ukrainians. Furthermore, the country's growing middle class is expected to drive the demand for more expensive and innovative dermatological drugs in the future.

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.