Key regions: United Kingdom, Canada, Japan, Europe, China
The demand for dermatological drugs in Western Asia has been on the rise in recent years, driven by several factors.
Customer preferences: Customers in Western Asia have shown a growing interest in skincare and are increasingly willing to invest in high-quality dermatological drugs. This trend is driven by the desire for healthy and youthful-looking skin, which is considered an important aspect of beauty in the region.
Trends in the market: One of the key trends in the Western Asian dermatological drugs market is the increasing popularity of organic and natural products. Consumers are becoming more aware of the potential harm that chemicals and synthetic ingredients can cause to the skin, and are therefore seeking out products that are made from natural ingredients. This trend is also being driven by the growing demand for sustainable and eco-friendly products.Another trend in the market is the rise of e-commerce. Online shopping has become increasingly popular in Western Asia, and this has had a significant impact on the dermatological drugs market. Consumers are now able to purchase products from all over the world, and this has led to increased competition and a wider range of products being available.
Local special circumstances: The Western Asian market is diverse, with different countries having their own unique preferences and requirements when it comes to skincare. For example, in countries such as Saudi Arabia and Iran, there is a high demand for products that are designed to protect the skin from the sun, due to the hot and sunny climate. In contrast, in countries such as Lebanon and Syria, there is a greater focus on anti-aging products, as these are seen as important for maintaining a youthful appearance.
Underlying macroeconomic factors: The Western Asian dermatological drugs market is being driven by several macroeconomic factors, including rising disposable incomes, a growing middle class, and increasing urbanization. As more people move to cities and become exposed to pollution and other environmental factors, there is a greater need for skincare products that can protect and nourish the skin. Additionally, the increasing prevalence of skin conditions such as acne and eczema is also driving demand for dermatological drugs in the region.
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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