Dermatological Drugs - Argentina

Argentina

In Argentina, the revenue in the Dermatological Drugs market is forecasted to reach €68.96m in 2024.
The market is expected to exhibit an annual growth rate (CAGR 2024-2029) of 5.06%, leading to a market volume of €88.28m by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to €10,710.00m in 2024.
The market for dermatological drugs in Argentina is experiencing a surge in demand due to increasing awareness and prevalence of skin conditions among the population.

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

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Analyst Opinion

The Dermatological Drugs market in Argentina has been experiencing a steady growth in recent years, driven by various factors such as customer preferences and local special circumstances.

Customer preferences: There has been a growing awareness among the Argentine population about the importance of skincare, which has led to an increase in demand for dermatological drugs. Consumers are now more willing to invest in high-quality skincare products and are increasingly seeking out products that are tailored to their specific skincare needs. Additionally, there has been a shift towards natural and organic skincare products, which has led to the development of new products in the market.

Trends in the market: One of the key trends in the Dermatological Drugs market in Argentina is the increasing demand for prescription drugs. This is due to the fact that prescription drugs are perceived to be more effective in treating skin conditions than over-the-counter products. Additionally, there has been a growing trend towards the use of combination therapies, which involve the use of two or more drugs to treat a single condition. This trend has been driven by the need to address multiple symptoms of a single condition.

Local special circumstances: One of the unique factors that have contributed to the growth of the Dermatological Drugs market in Argentina is the country's high prevalence of skin cancer. Argentina has one of the highest rates of skin cancer in the world, which has led to an increased demand for dermatological drugs that can help prevent and treat this condition. Additionally, the country's hot and humid climate has led to an increase in skin conditions such as acne and eczema, which has further driven the demand for dermatological drugs.

Underlying macroeconomic factors: The growth of the Dermatological Drugs market in Argentina has been supported by a number of macroeconomic factors. One of the key drivers has been the country's growing middle class, which has led to an increase in disposable income and a greater willingness to invest in skincare products. Additionally, the country's aging population has also contributed to the growth of the market, as older individuals are more likely to experience skin conditions and are therefore more likely to seek out dermatological drugs. Finally, the government's efforts to improve access to healthcare services have also contributed to the growth of the market, as more individuals are now able to access dermatological treatments.

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.