Malaysia Dermatological Therapeutics Market Analysis

Malaysia Dermatological Therapeutics Market Analysis


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Malaysia Dermatological Therapeutics Market is at around $0.07 Bn in 2023 and is projected to reach $0.12 Bn in 2030, exhibiting a CAGR of 8.8% during the forecast period. The market is being driven by rising healthcare awareness, an increase in dermatological conditions, and technological advancements. The market is dominated by key players like Pharmaniaga Berhad, Duopharma Biotech Berhad, Almirall SA, Pfizer Inc., GlaxoSmithKline Plc, AbbVie Inc., Amgen Inc., Novartis AG, Roche, Sanofi, Bayer, and Johnson & Johnson.

ID: IN10MYPH035 CATEGORY: Pharmaceuticals GEOGRAPHY: Malaysia AUTHOR: Aneri Parekh

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Malaysia Dermatological Therapeutics Market Executive Summary

Malaysia Dermatological Therapeutics Market is at around $0.07 Bn in 2023 and is projected to reach $0.12 Bn in 2030, exhibiting a CAGR of 8.8% during the forecast period.

Malaysia Dermatological Therapeutics is a specialized field of medicine that treats skin diseases and disorders. It includes diagnosing, treating, and preventing a wide range of dermatological problems that are specific to the people of Malaysia, taking into account lifestyle, genetics, and climate. It examines how dermatological medicines are developing in Malaysia, taking into account cultural nuances, treatment breakthroughs, and the role of the country's healthcare system in promoting skin health.

The market for dermatological therapeutics in Malaysia is expanding rapidly, propelled by rising skin disease prevalence and rising skincare awareness. The need for advanced dermatological treatments is growing, as is the number of cosmetic surgeries performed, and new skincare products are being introduced regularly. To bring innovative treatment solutions, industry participants are concentrating on research and development, fostering the market's growth.

By 2023, the global market for dermatological treatments brought in $40.94 Bn, a significant rise over the past years. The industry is transforming, and this boom is being driven by inexpensive production techniques and revolutionary technologies. The market for dermatological treatments has been shaped into a thriving and expanding sector by the dynamic confluence of accessibility, innovation, and financial assistance.

Dermatology is a primary focus area within the portfolio of Pharmaniaga Berhad, the top pharmaceutical business in Malaysia. The company offers a wide selection of dermatology goods to meet different needs and conditions of the skin. It is anticipated that Pharmaniaga Berhad accounts for 20–25% of the dermatology market share in Malaysia. The dermatological business sector, which brings in about $84 Mn a year, makes a substantial contribution to the company's total revenue. Research and development (R&D) for novel dermatological therapies is a major priority of Pharmaniaga Berhad, with an emphasis on creative fixes for regional skin issues.

Malaysia dermatological therapeutics market

Market Dynamics

Market Growth Drivers:

Growing Dermatological Conditions: The need for dermatological therapies is fueled by the population's heightened occurrence of skin diseases and disorders. The need for dermatological treatments is likely to increase as a result of increased pollution, alterations in lifestyle, and exposure to UV radiation.

Growing Healthcare Awareness: The demand for therapeutic items is rising in response to growing knowledge about skin health and the accessibility of cutting-edge dermatological treatments. The market may benefit from public education campaigns and healthcare professionals' initiatives to highlight the value of skincare.

Technological Developments: New and inventive therapeutic items are created as a result of advances in dermatological research and technology. Innovative formulations, focused treatments, and better delivery methods can improve therapy results and attract patients.

Market Restraints:

Regulatory Environment: The development, approval, and marketing of dermatological therapies may be impacted by rules and guidelines established by health authorities. Strict rules could make it difficult to enter a market and get a product approved.

Healthcare Infrastructure: The market can be greatly impacted by the accessibility and availability of dermatological treatment as well as healthcare facilities and services. Adoption of dermatological therapies may be hampered by restricted access.

Economic Factors: A nation's economic standing might have an impact on healthcare expenditures. Economic downturns may result in lower spending on healthcare, which may impact the demand and affordability of dermatological goods.

Healthcare Policies and Regulatory Landscape

According to the Control of Medicines and Cosmetics Regulations of 1984, the Drug Control Authority (DCA) is the executive agency in charge of managing the registration procedure for innovative medicines and biologics in Malaysia. It is necessary to apply online through the QUEST3 system. With QUEST online membership registration, users can securely complete online tasks for product registration applications. DCA requires high-quality data and strict protocol adherence to comply with international requirements for Good Clinical Practice and Good Manufacturing Practice, such as those set forth by the International Council on Harmonization (ICH). This can add complexity and potentially extend timelines. Comprehensive assessments of the safety and effectiveness of medications across diverse populations are necessary in Malaysia, given the country's vast ethnic diversity. This might necessitate additional clinical trials or data analysis, which would raise prices and complicate matters.

Competitive Landscape             

Key Players:

  • Pharmaniaga Berhad
  • Duopharma Biotech Berhad
  • 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

Malaysia 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

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 09 May 2024
Updated by: Keta Vora

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