Skin Treatment - Colombia | Statista Market Forecast

Revenue in the Skin Treatment market amounts to US$328.00m in 2024. The market is expected to grow annually by 8.25% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$4bn in 2024).
In relation to total population figures, per person revenues of US$6.27 are generated in 2024.

Definition: Skin Treatment Market
The Skin Treatment market comprises over-the-counter natural and synthetic medical skin treatment products like antibacterial preparations, acne treatment agents, antifungals. Preparations for skin treatment include medicines in the form of ointments, creams, gels, pills, capsules, washing lotions, peelings, pastes, solutions, fluids, suppositories and sprays for external and internal application. Not included are prescription medicines, preparations that are against the state law, are not explicit skin treatment drugs (e.g. painkillers) or primarily have cosmetic purposes. It includes both products which are exclusively sold in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Additional Information:
The Skin Treatment market comprises revenues, average revenue per capita. Sales channels show online and offline revenue. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Natural and synthetic agents
Agents for internal and external application
Preparations to treat skin diseases (e.g. acne treatment)

Prescription medicines
Homeopathic remedies
Painkillers
Cosmetic products
Adhesive patches

In the Skin Treatment market, the prevalence of skin diseases is a significant driving factor affecting the market growth. This is especially the case in emerging countries, where vehicle pollution, unhealthy lifestyles, and a lack of awareness of healthcare and skin diseases lead to a higher demand for skin treatment products.

Furthermore, the launch of effective medicine products also has a crucial impact on the market growth. However, the side effects of skin treatment products could cause life-threatening situations, which leads to a restriction of the development of the Skin Treatment market.

In 2022, the global Skin Treatment market reached US$17.94 billion and recovered from a slight decline in 2020 brought about by the COVID-19 pandemic. In the forecast period, the market is expected to reach a CAGR of around 3%.

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.