Dermatological Drugs - Spain

Spain

In Spain, the revenue in the Dermatological Drugs market is estimated to reach €254.50m by 2024.
It is projected to experience an annual growth rate (CAGR 2024-2029) of 5.42%, leading to a market volume of €331.30m by 2029.
When compared globally, United States is expected to generate the highest revenue in this market, with an estimated amount of €10,820.00m in 2024.
Despite economic challenges, Spain's dermatological drugs market is experiencing steady growth due to an aging population and increasing awareness about skin health.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The demand for dermatological drugs in Spain has been on the rise in recent years, driven by various factors such as changing lifestyles, increasing awareness about skin health, and a growing aging population.

Customer preferences: Spanish consumers have become more conscious of the importance of maintaining healthy skin, resulting in a shift towards preventive measures and a higher demand for dermatological drugs. Additionally, there has been a growing interest in natural and organic products, with consumers preferring products with fewer chemicals and more natural ingredients.

Trends in the market: The dermatological drugs market in Spain is expected to experience significant growth in the coming years, driven by the increasing prevalence of skin diseases such as acne, psoriasis, and eczema. There has also been a growing demand for anti-aging products, with consumers seeking ways to maintain youthful skin. Furthermore, the rise of telemedicine and e-commerce has made it easier for consumers to access dermatological drugs and products online.

Local special circumstances: Spain has a high prevalence of skin cancer, with an estimated 4,000 deaths per year. This has led to a greater emphasis on skin health and the importance of using dermatological drugs for prevention and treatment. Additionally, the country has a large aging population, with the number of people aged 65 and over expected to increase in the coming years. This demographic shift is expected to drive demand for dermatological drugs and anti-aging products.

Underlying macroeconomic factors: Spain has a strong pharmaceutical industry, with a number of domestic and international companies operating in the market. The country's healthcare system is also well developed, with universal coverage and a high level of public spending on healthcare. However, the COVID-19 pandemic has had a significant impact on the economy and the healthcare system, with many patients delaying or avoiding medical treatment. This has led to a temporary slowdown in the dermatological drugs market, although the long-term outlook remains positive.

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.