Dermatological Drugs - Malaysia

Malaysia

The Dermatological Drugs market in Malaysia is projected to generate a revenue of US$28.39m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 6.22%, leading to a market volume of US$38.39m by 2029.
When compared globally, United States is anticipated to generate the highest revenue of US$11,670.00m in 2024.
The demand for dermatological drugs in Malaysia is thriving due to the country's growing awareness of skincare and the increasing prevalence of skin conditions.

Key regions: United Kingdom, Canada, Japan, Europe, China

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Analyst Opinion

The demand for dermatological drugs in Malaysia has been on the rise in recent years.

Customer preferences: Customers in Malaysia are increasingly seeking out dermatological drugs to treat a variety of skin conditions, such as acne, eczema, and psoriasis. This trend is driven in part by the growing awareness and concern for skincare among the population, as well as the increasing prevalence of skin diseases.

Trends in the market: One of the key trends in the dermatological drugs market in Malaysia is the growing popularity of topical treatments. These products are preferred by many customers due to their ease of use and lower risk of side effects compared to oral medications. Additionally, there is a growing demand for natural and organic skincare products, which is driving the development of new formulations and ingredients.

Local special circumstances: Malaysia has a tropical climate, which means that there is a higher incidence of skin conditions related to sun exposure, such as hyperpigmentation and melasma. This has led to the development of specialized products that target these specific conditions, such as skin brightening creams and treatments.

Underlying macroeconomic factors: The growing demand for dermatological drugs in Malaysia is also being driven by broader macroeconomic factors, such as the country's rapidly expanding middle class and increasing disposable income. As more people are able to afford healthcare and skincare products, the market for dermatological drugs is expected to continue to grow. Additionally, the government has been investing in healthcare infrastructure and promoting medical tourism, which is also contributing to the growth of the market.

Methodology

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.