Philippines Dermatological Therapeutics Market Report 2022 to 2030

Philippines Dermatological Therapeutics Market Analysis

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Philippines Dermatological Therapeutics Market is at around $0.09 Bn in 2023 and is projected to reach $0.17 Bn in 2030, exhibiting a CAGR of 9.1% during the forecast period. The market is expanding due to factors such as the aging population, changing lifestyles, and an increase in dermatological conditions. The market is dominated by key players like Unilab, Mercury Drug Corporation, Almirall SA, Pfizer Inc., GlaxoSmithKline Plc, AbbVie Inc., Amgen Inc., Novartis AG, Roche, Sanofi, Bayer, and Johnson & Johnson.

ID: IN10PHPH035 CATEGORY: Pharmaceuticals GEOGRAPHY: Phillipines AUTHOR: Aneri Parekh

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Philippines Dermatological Therapeutics Market Executive Summary

Philippines Dermatological Therapeutics Market is at around $0.09 Bn in 2023 and is projected to reach $0.17 Bn in 2030, exhibiting a CAGR of 9.1% during the forecast period.

Dermatological therapy includes a wide range of procedures and therapies for different skin diseases. The field blends conventional methods with cutting-edge medical discoveries, with an emphasis on improving skin health and treating dermatological issues. Dermatological therapy is a vibrant and developing field of medicine, further influenced by the peculiar tropical climate of the Philippines.

Growing public awareness of dermatological disorders and skin care products is fueling the Philippines Dermatological Therapeutics Market's steady expansion. Increasing disposable money and an older population are driving up demand for cutting-edge dermatological care. To take advantage of the Philippines' growing skincare sector, major players are broadening their product offerings and increasing their market share.

The worldwide market for dermatological treatments generated $40.94 Bn in revenue by 2023, a substantial increase over the previous year. The sector is changing, and cutting-edge technologies and low-cost production methods are fueling this surge. The dynamic combination of accessibility, innovation, and financial aid has turned the market for dermatological treatments into a robust and increasing sector.

A major focal area of Unilab's portfolio, a top pharmaceutical firm in the Philippines, is dermatology. "Belo Naturals," a new skincare product line from Unilab, was introduced in May 2023. The products are produced with organic and natural ingredients. Additionally, the business has collaborated with a multinational pharmaceutical firm to supply the Philippines with a novel biologic medication for psoriasis. Unilab is consistently growing its internet presence by introducing e-commerce sites and virtual dermatology consultations.

Philippines dermatological therapeutics market

Market Dynamics

Market Growth Drivers:

Increasing Dermatological Conditions: An increase in skin disorders and conditions such as acne, eczema, psoriasis, and skin cancer are fuelling demand for dermatological therapies.

Changing Lifestyles: Several factors associated with modern lifestyles, including stress, pollution, and dietary changes, can aggravate skin conditions and increase the need for dermatological treatments.

Aging Population: It is contributing to the expansion of the dermatological treatments market, as it is frequently connected with a variety of skin disorders and concerns. 6% of the Philippines's population is 60 years of age or older.

Market Restraints:

Policies and Regulations in the Healthcare Industry: Pharmaceutical businesses may face difficulties in complying with strict policies and regulations about drug approval, pricing, and marketing.

Cultural and Social Factors: People may be deterred from seeking treatment by social stigma and cultural beliefs related to specific skin disorders. For instance, people may refrain from seeing dermatologists for aesthetic issues because of social stereotypes.

Competitive Market: Intense competition among pharmaceutical companies may result in pricing pressures and lower profit margins. In a crowded market, it could be difficult for businesses to differentiate their products.

Healthcare Policies and Regulatory Landscape

The Philippine Food and Drug Administration (FDA) is the implementing body for the Abridged and Verification Review Pathways for New Drug Applications. Take the LTO. After obtaining the LTO, the next step is to apply to the FDA for a Certificate of Product Registration (CPR). This shows that the product has successfully passed a thorough evaluation and has been officially registered with the Philippine FDA. The intricacy of fulfilling prerequisites and navigating the regulatory landscape may affect the prompt approval of pharmaceutical goods.

Competitive Landscape

Key Players:

Unilab
Mercury Drug Corporation
Almirall SA
Pfizer Inc.
GlaxoSmithKline Plc.
AbbVie Inc.
Amgen Inc.
Novartis AG
Roche
Sanofi
Bayer
Johnson & Johnson

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Philippines Dermatological Therapeutics Market Segmentation

By Type

Prescription-based Drugs
Over-the-counter Drugs

By Disease

Alopecia
Herpes
Psoriasis
Rosacea
Skin Cancer
Acne
Atopic Dermatitis
Vitiligo
Hidradenitis
Other Applications

By Drug Class

Anti-infectives
Corticosteroids
Anti-acne
Calcineurin Inhibitors
Retinoids
Other Drug Classes

By Route of Administration

Topical Administration
Oral Administration
Parenteral Administration

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.