According to the MarkNtel Advisors' research report, "Middle-East and Africa Dermatology Drug Market Analysis, 2021," the market certainly can grow at a CAGR of around 7% during 2021-26. The primary factor behind the growth of the Middle-East and Africa Dermatology Drug Market is escalating prevalence of skin cancer and other skin diseases across the countries. Due to rising awareness among consumers to enhance the aesthetic look, there is a surging demand for dermatological drugs.
Moreover, the mounting geriatric population leading to increased incidence of skin problems coupled with the surge in disposable income propels the growth of the Middle-East and Africa dermatology drug market.
Key questions answered in the study
Corticosteroids Segment Held Highest Market Share
Based on Drug class, the market segments into Corticosteroids, Retinoid, Monoclonal Antibodies, Antibiotics Agents, Antifungal Drugs, Antiviral Agents, Antihistamines Agents, and Immunosuppressive Drugs. In 2019, the Corticosteroids segment attained the largest share in the Middle-East & Africa dermatology drug market as corticosteroids are commonly known to cure the most prevalent skin problems such as itching, redness, and allergic reactions. Besides this, the rise in the development of advanced molecules with Galenic formulations in corticosteroids provides a lucrative opportunity for the significant growth of the market.
"Middle-East and Africa Dermatology Drug Market Analysis, 2021" provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for dermatology drug providers across the country. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing measuring competitors' capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
South-Africa Accounted for the Largest Market Share
Based on Region, South Africa dominated the Middle-East and Africa dermatology drug market in 2019. The growth of this region is due to the surge in the number of chronic skin diseases in the country, thereby resulting in increased demand for dermatology drugs. Additionally, mounting support of the government for establishing necessary infrastructure also aids the dermatology drug market growth.
Further, rising drug discovery procedures and rise in alliances among the companies proliferates the market growth in the forecasted period, says MarkNtel Advisors' in their research report, "Middle-East and Africa Dermatology Drug Market Analysis, 2021."
According to MarkNtel Advisors, the major leading players in the GCC Facility Management market are GlaxoSmithKline plc, Novartis AG, Johnson & Johnson, Merck & Co. Inc., Mylan N.V., Amgen Inc., Bristol-Myers Squibb Company, AbbVie Inc., Pfizer Inc., Eli Lilly and Company, Galderma S.A., Bausch Health Companies Inc.