The growth of the Middle-East and Africa Dermatology Drug Market is driven by the escalating prevalence of skin cancer and other skin diseases across the countries. Further, due to rising awareness among the consumer to enhance the aesthetic look the demand for dermatological drugs is increasing. 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 Grabbed Highest Market Share
According to the MarkNtel Advisors’ research report, “Middle-East and Africa Dermatology Drug Market Analysis, 2021”. the Middle-East and Africa Dermatology Drug Market is anticipated to grow at a CAGR of around 7% during 2021-26. Based on Drug class, Corticosteroids have attained the largest share in the Middle-East and Africa dermatology drug market during the forecasted period as Corticosteroids are commonly known to cure the most prevalent skin problems such as itching, redness, and allergic reactions. Moreover, the rise in the development of advanced molecules with galenic formulations in corticosteroids provides the 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 success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
South-Africa Exhibits Fastest Growth
Based on Region, South-Africa dominated the Middle-East and Africa dermatology drug market in 2019. The growth of this region is due to a surge in the number of chronic skin diseases in the country leading to increase in the demand for dermatology drugs. Moreover, mounting support of the government for the establishment of necessary infrastructure could aid the growth of the dermatology drug market. Additionally, rising drug discovery procedures and rise in alliances among the companies would proliferate the growth of the market in the forecasted period as revealed by MarkNtel Advisors’ 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 Bausch Health Companies Inc., Novartis AG, Pfizer Inc., Bristol-Myers Squibb Company, Johnson & Johnson, Merck & Co. Inc., Amgen Inc., AbbVie Inc., Eli Lilly and Company, Galderma S.A., GlaxoSmithKline plc, Mylan N.V.