Skin Treatment (Pharmacies) - Africa

Revenue in the Skin Treatment market is projected to reach US$646.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.16%, resulting in a market volume of US$956.70m by 2029.
In global comparison, most revenue will be generated United States (US$3.32bn in 2024).
In relation to total population figures, per person revenues of US$0.50 are generated in 2024.

Definition: Skin Treatment Market
The Skin Treatment market encompasses a range of over-the-counter (OTC) natural and synthetic medical products designed for skin treatment. This category includes antibacterial preparations, agents for acne treatment, and antifungal solutions. These treatment preparations are available in various forms, such as ointments, creams, gels, pills, capsules, washing lotions, peelings, pastes, solutions, fluids, suppositories, and sprays. Both external and internal applications are covered in this market segment. It's important to note that prescription medications, products contravening state regulations, items that do not explicitly serve as skin treatment drugs (e.g., painkillers), or those primarily intended for cosmetic purposes are excluded from this definition. This market exclusively covers product sales through pharmacies.

Additional Information:
The Skin Treatment market comprises revenues, average revenue per capita and average revenue per pharmacy. 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 (Pharmacies) market in Africa is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory. Customer preferences in Africa have shifted towards a greater emphasis on skincare and overall well-being. As people become more aware of the importance of taking care of their skin, the demand for skin treatment products has increased. Customers are seeking effective and affordable solutions to address various skin concerns such as acne, dryness, and aging. This has led to a surge in the demand for skin treatment products in pharmacies across the continent. Trends in the market indicate a growing interest in natural and organic skin treatment products. Consumers are becoming more conscious of the ingredients used in skincare products and are opting for products that are free from harmful chemicals. This trend is driven by a desire for healthier and more sustainable options. As a result, pharmacies in Africa are expanding their offerings to include a wider range of natural and organic skin treatment products to cater to this demand. Local special circumstances also contribute to the development of the Skin Treatment (Pharmacies) market in Africa. The continent has a diverse population with different skin types and concerns. This diversity presents a unique opportunity for pharmacies to offer a wide variety of skin treatment products that cater to the specific needs of different ethnicities and skin types. Furthermore, the presence of a large youth population in Africa has also contributed to the growth of the market, as young consumers are increasingly investing in skincare products to maintain healthy and youthful-looking skin. Underlying macroeconomic factors play a crucial role in the development of the Skin Treatment (Pharmacies) market in Africa. Economic growth, rising disposable incomes, and urbanization have led to an increase in consumer spending power. As a result, more people are able to afford skincare products and are willing to invest in their personal grooming and well-being. Additionally, the expansion of the middle class in many African countries has created a larger consumer base for skin treatment products, driving the growth of the market. In conclusion, the Skin Treatment (Pharmacies) market in Africa is experiencing significant growth and development due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As consumers become more conscious of their skin health and seek effective and affordable solutions, pharmacies in Africa are expanding their offerings to cater to this demand. The growing interest in natural and organic products, the diverse population with different skin types and concerns, and the underlying macroeconomic factors all contribute to the positive trajectory of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.

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

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.