Skin Treatment - Lesotho | Statista Market Forecast

In Lesotho, the revenue generated in the Skin Treatment market market in 2024 amounts to US$1.28m.
It is projected that the market will experience an annual growth rate of 6.56% (CAGR 2024-2029).
When compared globally, the United States generates the highest revenue with US$4.18bn in 2024.
In terms of per capita figures, the revenue generated per person in Lesotho is US$0.55 in 2024.
Lesotho's skin treatment market is witnessing a surge in demand for natural and organic 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 Lesotho has been experiencing significant growth in recent years. Customer preferences have shifted towards natural and organic skincare products, driving the demand for these products in the market. Additionally, the increasing awareness of the importance of skincare and the desire for youthful and healthy-looking skin have also contributed to the growth of the market.

Customer preferences: Customers in Lesotho have shown a strong preference for natural and organic skincare products. They are increasingly concerned about the potential harmful effects of chemicals and synthetic ingredients in skincare products. As a result, there has been a growing demand for products that are made from natural and organic ingredients, such as plant extracts, essential oils, and herbal remedies. This preference for natural products is driven by the belief that they are safer and more beneficial for the skin.

Trends in the market: One of the key trends in the Skin Treatment market in Lesotho is the rising popularity of anti-aging products. As the population ages, there is a growing demand for products that can help reduce the signs of aging and maintain youthful-looking skin. Anti-aging creams, serums, and treatments that target wrinkles, fine lines, and age spots have become increasingly popular among consumers.Another trend in the market is the increasing demand for skincare products that offer multiple benefits. Customers are looking for products that can address multiple skin concerns, such as hydration, brightening, and acne prevention. This has led to the development of multi-purpose skincare products that offer a combination of benefits in a single product.

Local special circumstances: Lesotho is a landlocked country with a high altitude, which means that its climate is characterized by cold winters and mild summers. This unique climate can have a significant impact on the skin, as it can cause dryness and dehydration. As a result, there is a higher demand for moisturizing and hydrating skincare products in the market.

Underlying macroeconomic factors: The growing middle class in Lesotho has contributed to the growth of the Skin Treatment market. As more people have disposable income, they are able to spend more on skincare products. Additionally, the increasing urbanization in the country has also played a role in the market's development. Urban areas tend to have a higher concentration of beauty salons and skincare clinics, which has increased accessibility to skincare products and treatments.In conclusion, the Skin Treatment market in Lesotho is experiencing growth due to customer preferences for natural and organic skincare products, the demand for anti-aging products, and the increasing popularity of multi-purpose skincare products. The unique climate in Lesotho, characterized by cold winters and mild summers, has also contributed to the demand for moisturizing and hydrating skincare products. The growing middle class and urbanization in the country have further fueled the market's development.

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.