Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - Angola

Angola

Revenue in the Skin Treatment market is projected to reach US$19.36m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.09%, resulting in a market volume of US$26.02m by 2029.
In global comparison, most revenue will be generated in the United States (US$3,319.00m in 2024).
In relation to total population figures, per person revenues of US$0.51 are generated in 2024.

Key regions: Germany, Europe, South Korea, France, China

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Analyst Opinion

The Skin Treatment (Pharmacies) market in Angola has been experiencing significant growth in recent years.

Customer preferences: Angolan consumers are increasingly concerned about their skin health and are willing to invest in products that can address their skincare needs. They are becoming more aware of the importance of skincare and are seeking out products that can help them achieve healthier and more radiant skin. As a result, there is a growing demand for skin treatment products in pharmacies across the country.

Trends in the market: One of the key trends in the Skin Treatment (Pharmacies) market in Angola is the shift towards natural and organic skincare 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 and additives. This trend is driven by the global movement towards clean beauty and the desire for more sustainable and eco-friendly options. Another trend in the market is the increasing popularity of anti-aging skincare products. As the population in Angola ages, there is a growing demand for products that can help reduce the signs of aging and maintain a youthful appearance. Anti-aging creams, serums, and treatments are becoming more widely available in pharmacies, catering to the needs of this target market.

Local special circumstances: Angola is a country with a diverse population, and this diversity is reflected in the skincare needs of its consumers. Different ethnic groups may have specific skincare concerns and preferences, such as products that cater to darker skin tones or address specific skin conditions. This presents an opportunity for skincare brands to develop products that are tailored to the needs of the local population.

Underlying macroeconomic factors: The growth of the Skin Treatment (Pharmacies) market in Angola can be attributed to several macroeconomic factors. The country's improving economy has led to an increase in disposable income, allowing consumers to spend more on skincare products. Additionally, the expansion of the middle class has created a larger consumer base for skincare products, driving demand in the market. In conclusion, the Skin Treatment (Pharmacies) market in Angola is experiencing growth due to increasing consumer preferences for natural and organic skincare products, the demand for anti-aging solutions, and the diverse skincare needs of the local population. These trends are supported by the country's improving economy and expanding middle class.

Methodology

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.