Skin Treatment (Pharmacies) - Argentina

Revenue in the Skin Treatment market is projected to reach US$198.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.57%, resulting in a market volume of US$260.30m 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$4.31 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 Argentina is experiencing steady growth due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Customers in Argentina are increasingly prioritizing skincare and are willing to invest in high-quality skin treatment products. This shift in preferences can be attributed to the growing awareness about the importance of skincare and the desire to maintain a youthful appearance. Additionally, customers are seeking products that address specific skin concerns such as acne, aging, and hyperpigmentation. As a result, there is a growing demand for specialized skin treatment products in pharmacies.

Trends in the market: One of the key trends in the Skin Treatment (Pharmacies) market in Argentina is the rising popularity of natural and organic skincare products. Customers 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 driven by the increasing focus on health and wellness, as well as the desire for sustainable and eco-friendly options. Another trend in the market is the growing popularity of multi-functional skincare products. Customers are looking for products that offer multiple benefits, such as moisturizing, brightening, and anti-aging properties. This trend is driven by the convenience and cost-effectiveness of using a single product that addresses multiple skin concerns.

Local special circumstances: Argentina has a strong pharmaceutical industry, which has contributed to the availability of a wide range of skin treatment products in pharmacies. This local special circumstance has created a competitive market, with both domestic and international brands vying for market share. Customers have access to a variety of options and can choose products that best suit their needs and preferences.

Underlying macroeconomic factors: The growth of the Skin Treatment (Pharmacies) market in Argentina can also be attributed to favorable macroeconomic factors. The country has witnessed a steady increase in disposable income, which has led to higher consumer spending on skincare products. Additionally, the growing middle class in Argentina has resulted in an expanding customer base for skin treatment products. These macroeconomic factors have created a conducive environment for the growth of the market. In conclusion, the Skin Treatment (Pharmacies) market in Argentina is growing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customers are increasingly prioritizing skincare and seeking high-quality products that address specific skin concerns. The popularity of natural and organic skincare products, as well as multi-functional products, is on the rise. The strong pharmaceutical industry in Argentina and favorable macroeconomic factors have further contributed to the growth 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.