Dermatological Drugs - Portugal

Portugal

The projected revenue for the Dermatological Drugs market in Portugal is expected to reach US$43.29m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 5.90%, ultimately leading to a market volume of US$57.66m by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$11,670.00m in 2024.
Portugal has seen a surge in demand for dermatological drugs due to its high prevalence of sun-related skin conditions.

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

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Analyst Opinion

The Dermatological Drugs market in Portugal has been showing steady growth in recent years.

Customer preferences: Portuguese customers are increasingly interested in skincare, with a particular focus on natural and organic products. This trend towards natural and organic products is reflected in the demand for dermatological drugs that are plant-based or free from synthetic ingredients. Customers are also looking for products that are easy to use and offer visible results.

Trends in the market: The dermatological drugs market in Portugal is being driven by an aging population, which is leading to an increase in demand for anti-aging products. Additionally, the prevalence of skin conditions such as acne, eczema, and psoriasis is also driving growth in the market. There is also a growing trend towards personalized skincare, with customers seeking products that are tailored to their specific skin concerns.

Local special circumstances: Portugal has a strong tradition of using natural ingredients in skincare, which has led to the development of a number of local brands that specialize in plant-based and organic products. These brands are increasingly popular with consumers who are looking for natural alternatives to traditional skincare products.

Underlying macroeconomic factors: The Portuguese economy has been growing steadily in recent years, which has led to an increase in disposable income and consumer spending. This has had a positive impact on the dermatological drugs market, as consumers are more willing to invest in high-quality skincare products. Additionally, the Portuguese government has been investing in healthcare infrastructure, which has led to improved access to dermatological treatments and increased demand for related products.

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.