Report Description of the Malaysia Dermatology Treatment Drugs Market Analysis
Research Scope and Assumption
- The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
- The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
- We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
- All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
- Inflation has not been accounted for in order to estimate and forecast the market
- Numbers may not add up due to rounding off
Reason to buy the report:
- Facilitate decision-making based on strong current and forecast data for Malaysia Dermatology Treatment Drugs Market Analysis
- Develop strategies based on the latest regulatory framework
- Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
- Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Malaysia Dermatology Treatment Drugs Market Analysis
- Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- We have technically sound team which do a deep dive research and also provide strategy based consulting analysis
Malaysia Dermatology Treatment Drugs Market Analysis Executive Summary
The Departments of Dermatology in Malaysia had its humble beginnings in history with concern over infectious skin diseases; hence it started with Seamen’s clinic in Penang for Venereal diseases and the Leprosarium in Sungai Buloh. General practitioners, physicians and surgeons were managing the other skin diseases. Skin care involves the practice of maintaining skin integrity, relieving skin condition, and enhancing one’s physical appearance with the use of herbal gels, sunscreens, and lotions. These products are easily accessible to end users in Malaysia through various sales channels such as supermarkets/hypermarket, online stores, pharmacies & drug stores, department stores specialty stores, and beauty salons. The overseas formulation of skin care products and domestic assembling & packaging is trending in Malaysia.
Market Size and Key Findings
The Malaysia Dermatology Treatment Drugs Market Analysis size stood at around USD xx% billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Market Growth Drivers Analysis
The rapid adoption of digital technologies and evolving shopping behaviors are anticipated to transform e-commerce into an essential element in purchasing skin care products. Change in the shopping behavior of the millennial generation and surge in adoption of mobile devices along with a rise in the number of netizens are expected to boost the growth of the Malaysia skin care products market. Market growth is further driven by an increase in penetration of various online portals in Malaysia.
Stringent Regulations for Dermatology Drugs and High Cost of Dermatology Drugs are assumed to be restraining the Dermatology Drugs Market.
Covid-19 Market Impact Analysis
Amidst the lockdown implemented due to the outbreak of COVID-19, growth of skin care products market in Malaysia is likely to dissuade owing to labefaction of tourism across the country. Skin care products manufacturing companies have affected to a larger extent due to disrupted supply chain amid the Covid-19 outbreak. In addition, shutdown of beauty salons amid lockdown has reduced the demand for skin care products across Malaysia. Consumers prefer to buy skin care products from the online sales platform instead of buying from specialty stores to avoid transmission of the coronavirus. This shift in purchasing behavior has affected the market.
Players operating in the global dermatology drugs market include Lupin, Novartis AG, F. Hoffmann-La Roche Ltd, Pfizer Inc., Sanofi, GlaxoSmithKline plc, Amgen Inc., Eli Lilly and Company, AstraZeneca, AbbVie Inc, Johnson & Johnson Services. Inc, Galderma laboratories L.P., LEO Pharma A/S, Merck & Co., Inc, Bausch Health, and Bristol-Myers Squibb Company.
Products in Pipeline
- The acquisition of Eli Lilly and company & Dermira company will expand the pipeline of Lilly’s immunology with the addition of lebrikizumab which is a new monoclonal antibody designed to treat atopic dermatitis. This acquisition also expands the company portfolio of marketed dermatology medicines with the addition of QBREXZA (glycopyrronium).
Notable Recent Deals
- In November 2018, Sanofi collaborated with Denali Therapeutics Inc. (Denali), a biopharmaceutical company, for the development of multiple molecules, DNL747 and DNL758, with the potential to treat a range of neurological and systemic inflammatory diseases.
- In April 2019, LEO Pharma announced the expansion of its existing partnership with Elektrofi for the development of convenient system for dermatology treatments. This is expected to reduce the time required for the treatment.
- In January 2020, Eli Lilly and Company announced that they have acquired Dermira, which is a biopharmaceutical company engaged in the introduction of novel therapies to treat the chronic skin conditions in a much better way.
- Nivea, owned by Beiersdorf Ag is the most popular brand in the Thai skincare sector in 2019. ‘Hypermarkets and supermarkets’ emerged the largest distribution channel in 2019 with a value share of 36.6% in the Thai skincare sector followed by health & beauty stores.
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario
Dermatology is one of the major clinical subspecialty services provided by the Ministry of Health (MOH). This service covers all skin diseases including leprosy and sexually transmitted infections. It provides comprehensive care which includes diagnostic, curative and preventive dermatology. Research and training are an integral part of this service.
Skin diseases are common with considerable impact on both physical and psychosocial with varying degree of consequences. This warrants provision of efficient, safe, accessible and cost effective treatment. As the biggest health care provider in the country, the MOH plays a leading role in the development and provision of dermatology services in the country. The policy document covers key areas of dermatology services such as organization, human resource and asset requirements as well as patient management, ethics and clinical governance. It is intended to guide health care providers, hospital managers and policy makers on the requirement, operation and development of dermatological services in the MOH hospitals. The document outlines the optimal achievable standards in accordance with best practices and guidelines. In hospitals and health centres where these standards are not fully met, necessary steps need to be taken to meet these standards.
To improve care of patients living with psoriasis, the Malaysia Health and Technology Assessment Section of the Ministry of Health recently published a clinical practice guidelines (CPG) for the Management of Psoriasis Vulgaris in adults.
Dermatology also contributes actively to the functions of the Medical Development and Medical Practice Divisions of the Ministry including the training of medical students, medical officers, master’s students, Advanced Master of Dermatology, paramedics and allied health. There is active involvement in the development of Clinical Practice Guidelines, development and maintenance of quality standards, review of guidelines on diagnosis of Occupational Diseases, review of medical criteria for KWSP, sharing of information on skin diseases to the public through Myhealth Portal, review of national Leprosy manual, antibiotic guidelines and STIs guidelines that will enhance the efficiency of Ministry of Health.