Dermatological Drugs - Zimbabwe | Statista Market Forecast

In Zimbabwe, the Dermatological Drugs market is anticipated to generate revenue of US$1.04m by the year 2024.
The market is expected to grow at an annual growth rate (CAGR 2024-2029) of 3.95%, reaching a market volume of US$1.27m by 2029.
When compared globally, United States is projected to generate the highest revenue of US$11.67bn in 2024.
The dermatological drugs market in Zimbabwe is experiencing a surge in demand due to increasing awareness and accessibility to skincare treatments.

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 Zimbabwe has been on the rise in recent years.

Customer preferences: The customers in Zimbabwe are increasingly becoming aware of the importance of skin health and are seeking medication for various skin conditions. Dermatological drugs are being preferred due to their effectiveness in treating skin conditions such as acne, eczema, and psoriasis.

Trends in the market: One of the major trends in the Zimbabwean Dermatological Drugs market is the increasing preference for natural and organic products. Customers are increasingly concerned about the side effects of chemical-based products and are opting for natural alternatives. Another trend is the increasing popularity of online pharmacies, which offer convenience and a wider range of products.

Local special circumstances: Zimbabwe has a high prevalence of skin diseases due to factors such as poor hygiene, lack of access to clean water, and exposure to the sun. This has led to an increased demand for Dermatological Drugs in the country. Additionally, the country's healthcare system is underfunded, leading to a shortage of medication in public hospitals. This has led to an increase in demand for Dermatological Drugs in private pharmacies.

Underlying macroeconomic factors: Zimbabwe has been experiencing an economic crisis in recent years, which has led to a shortage of foreign currency. This has made it difficult for pharmaceutical companies to import raw materials and finished products, leading to a shortage of medication in the country. Additionally, the country's healthcare system is underfunded, leading to a shortage of medication in public hospitals. This has led to an increase in demand for Dermatological Drugs in private pharmacies.

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.