Skin Treatment - Serbia | Statista Market Forecast

In Serbia, the revenue in the Skin Treatment market market reaches US$26.30m in 2024.
It is projected that the market will experience an annual growth rate of 9.83% (CAGR 2024-2029).
When compared globally, the United States generates the highest revenue, which amounts to US$4.18bn in 2024.
In terms of per person revenues, in Serbia generates US$3.71 in 2024.
Serbia's growing interest in natural and organic skincare products is driving the demand for skin treatment in the OTC Pharmaceuticals market.

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 Serbia is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Customers in Serbia are increasingly seeking out skin treatment products and services to improve their overall appearance and address specific skin concerns. This is driven by a growing awareness of the importance of skincare and a desire to achieve youthful and healthy-looking skin. As a result, there is a growing demand for a wide range of skin treatment options, including anti-aging treatments, acne treatments, and skin rejuvenation procedures.

Trends in the market: One of the key trends in the skin treatment market in Serbia is the increasing popularity of natural and organic skincare products. Customers are becoming more conscious of the ingredients used in skincare products and are opting for products that are free from harmful chemicals and artificial additives. This trend is driven by a desire for safer and more sustainable skincare options.Another trend in the market is the rise of non-invasive skin treatment procedures. Customers are increasingly seeking out non-surgical alternatives to traditional cosmetic procedures, such as Botox and facelifts. Non-invasive procedures, such as laser treatments and microdermabrasion, offer effective results with minimal downtime and fewer risks.

Local special circumstances: Serbia's skincare market is also influenced by local special circumstances. The country has a strong tradition of natural remedies and herbal medicine, which has contributed to the popularity of natural skincare products. Additionally, the relatively affordable cost of skincare treatments in Serbia compared to other European countries has made it an attractive destination for medical tourism, further driving the growth of the skin treatment market.

Underlying macroeconomic factors: The growth of the skin treatment market in Serbia is also supported by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has increased disposable incomes and consumer spending power. This has allowed more individuals to afford skin treatment products and services.Furthermore, the increasing urbanization and westernization of Serbian society have led to a greater emphasis on personal appearance and grooming. As individuals become more exposed to global beauty standards through media and travel, the demand for skin treatment products and services is expected to continue to grow.In conclusion, the Skin Treatment market in Serbia is experiencing significant growth driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The increasing demand for skincare products and services, the popularity of natural and non-invasive treatments, and the affordability of skin treatments in Serbia are all contributing to 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.