Skin Treatment - Ghana | Statista Market Forecast

In Ghana, the revenue generated in the Skin Treatment market market in 2024 amounts to US$13.25m units.
It is projected that the market will experience an annual growth rate of 8.10% (CAGR 2024-2029).
When compared to other countries around Worldwide, the United States generates the highest revenue with US$4.18bn units in 2024.
In terms of per capita figures, each person in Ghana generates revenues of US$0.38 units in 2024.
Ghana's skin treatment market is witnessing a surge in demand for natural and organic products due to increased awareness of the harmful effects of chemical-based skincare products.

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

The Skin Treatment market in Ghana has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in the Skin Treatment market in Ghana have shifted towards natural and organic products. Consumers are becoming more conscious about the ingredients used in their skincare products and are opting for products that are free from harmful chemicals. This trend is in line with the global movement towards clean beauty and sustainable skincare. Additionally, there is a growing demand for products that cater to specific skin concerns, such as anti-aging, acne treatment, and hyperpigmentation. Trends in the market include the rise of local skincare brands that cater to the specific needs of Ghanaian consumers. These brands often incorporate traditional African ingredients, such as shea butter and baobab oil, which are known for their nourishing and moisturizing properties. This trend reflects a growing pride in local culture and a desire for products that are tailored to the unique needs of Ghanaian skin. Another trend in the market is the increasing popularity of online beauty retailers. With the rise of e-commerce platforms and social media influencers, consumers have greater access to a wide range of skincare products. This has led to increased competition in the market, as both local and international brands vie for the attention of Ghanaian consumers. Online retailers also offer convenience and a wider product selection, which appeals to busy urban consumers. Local special circumstances in Ghana, such as the hot and humid climate, also influence the Skin Treatment market. Consumers are more likely to seek products that provide hydration and protection against the sun. This has led to a demand for lightweight and non-greasy formulas that are suitable for daily use. Additionally, there is a cultural emphasis on maintaining healthy and radiant skin, which drives the demand for skincare products. Underlying macroeconomic factors, such as a growing middle class and increasing disposable incomes, have also contributed to the development of the Skin Treatment market in Ghana. As more Ghanaians have the means to spend on personal care products, the market has expanded to meet their needs. Additionally, urbanization and westernization have influenced consumer preferences and increased awareness about skincare. In conclusion, the Skin Treatment market in Ghana is experiencing growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. Consumers are seeking natural and organic products, local brands that cater to their specific needs, and the convenience of online shopping. The hot climate and cultural emphasis on skincare also contribute to the market's development. With the growing middle class and increasing disposable incomes, the market is expected to continue expanding in the coming years.

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 Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.