Report Description of the Pakistan 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 Pakistan 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 Pakistan 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
Pakistan Dermatology Treatment Drugs Market Analysis Executive Summary
Dermatology is a medical field that deals with the diagnosis, prevention, and treatment of various skin, nail, and hair-related diseases such as pigmentation, acne, wrinkles, and psoriasis. Dermatological agents, also referred to as dermatologic, are products that are applied topically to the skin. Such drugs are used for the diagnosis of skin diseases and are often used to avoid certain skin disorders. In fact, dermatological are used to protect one’s skin for daily skin care. Dermatology drugs are classified into corticosteroids, antifungal drugs, immunosuppressive drugs, monoclonal antibodies, retinoids, antibiotics agent, antiviral agents, and antihistamines agents among others. Dermatology drugs can be administered orally, topically and parenteral. Dermatology drugs can cause various side-effects including neuropsychiatric disorders, facial nerve palsy, headache, dizziness, lethargy, weakness, transient sensory, motor peripheral neuropathies, demyelinating, and autoimmune disorders among others.
Market Size and Key Findings
The Pakistan 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
Dermatology drug demand has increased as compared to the precise year with growing awareness for diagnostics and treatment of skin diseases. In addition demand of dermatology drug has increased in the developing countries with the increased spending on healthcare.
Product recall of products having these drugs is expected to restraint the usage of dermatology drugs and is expected to slow down the growth of the dermatology drugs market in the forecasted period.
Covid-19 Market Impact Analysis
The COVID-19 pandemic has had a significant impact on the healthcare system. It has reduced the growth rate of the market due to the rapid shift in focus toward COVID-19 treatment. As a result, the majority of the hospitals have delayed vaccinations pertaining to dermatology, chemotherapy sessions, and other non-essential services.
The major players covered in the report are Novartis AG, Pfizer Inc., Eli Lilly and Company., Johnson & Johnson Services, Inc., Almirall, S.A, Mylan N.V., Sun Pharmaceutical Industries Ltd., UCB S.A., Belgium, Glenmark Pharmaceuticals Limited, Tolmar Pharmaceuticals, Inc., GlaxoSmithKline plc., Galderma Laboratories, L.P., Teva Pharmaceutical Industries Ltd., LEO Pharma A/S, MELINTA THERAPEUTICS, INC. – THE ANTIBIOTICS COMPANY, Mayne Pharma Group Limited, BIOFRONTERA AG, AbbVie Inc. among others.
Products in Pipeline
- The first market access agreement has been signed for the products used in the treatment of Hepatitis C. The products have received reimbursement approval since June 18, 2016.
- The Punjab government has approved a Drug and Cosmetics Amendment Act by which all cosmetic-sale points will need to be licensed for the provision of genuine products through the original supply chain.
Notable Recent Deals
- In February 2019, Mayne Pharma Group Limited announced that they have launched the drug LEXETTE (halobetasol propionate) foam 0.05% in the United States.
- 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. After this acquisition, the 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).
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario
The Pakistan Association of Dermatologists (PAD) was founded in January, 1979. The idea for a body to represent Dermatologists of the Country was conceived for the simple reason that none existed. The vision conceived by Dr. Nusrat Ali Shaikh, Dr. Syed Ghulam Shabbir, Dr. Tahir Saeed Haroon, Dr. Aleem Saeed Qureshi and Dr. Zarina Fazalbhoy, 25 years ago is now an established reality. The Constitution was drafted by Dr. Tahir Saeed Haroon and Dr. Aleem Saeed Qureshi. Objectives of this Forum were to provide a platform to the Dermatologists of the Country to meet their colleagues and contemporaries from allied disciplines, to hold regular meetings to promote the cause of Dermatology, encourage research and presentation of scientific papers allied to Dermatology, to improve patient care, to promote teaching of Dermatology at both Undergraduates & Postgraduates level and to formulate policies on matters related to Dermatology in Pakistan in association with the Government authorities. Karachi was chosen as the Headquarter of the Association.
Pakistan is one of several countries that needs to modernize its drugs and cosmetic products in this climate of global change. Presently, there do not seem to be effective checks and balances in place, and specific regulations on standards for chemicals (like mercury) in consumer products, including cosmetics and skin-whitening creams, are much needed. Many official government-institute reports and scientific papers have appealed to the government of Pakistan to take the necessary steps toward regulation of cosmetic products in the country. As a signatory to the Minamata Convention on Mercury and with a growing network of unauthorized, illegally marketed cosmetic products, the government of Pakistan is working hard to achieve objectives to streamline authorization of a pure-cosmetic supply chain in the market. Pakistan is trying to strengthen relevant institutes like the Pakistan National Accreditation Council, Pakistan Standards and Quality Control Authority (PSQCA), Drug Regulatory Authority of Pakistan to implement a quality-management system for regulation of the manufacture, import, sale, and distribution of all cosmetic products. The Ministry of Science and Technology has issued a law to regulate skin creams all over Pakistan through the PSQCA, whereby a special task force will check manufacturing units, markets, and stores to highlight substandard cosmetics and take strict legal action. Authorities have started the cancellation of licenses and sealing manufacturing unit whose products do not meet the standards of the PSQCA.