Key regions: Germany, Europe, South Korea, France, China
The Skin Treatment (Pharmacies) market in ASEAN is experiencing significant growth and development due to changing customer preferences, emerging market trends, and local special circumstances.
Customer preferences: Customers in ASEAN countries have shown a growing preference for skin treatments available at pharmacies. This can be attributed to several factors, including the convenience of accessing products at pharmacies, the trust in the quality and safety of products sold at pharmacies, and the affordability of these treatments compared to other alternatives. Additionally, customers in ASEAN countries are becoming more conscious about their skin health and are actively seeking out products that can address specific skin concerns.
Trends in the market: One of the key trends in the Skin Treatment (Pharmacies) market in ASEAN is the increasing demand for natural and organic products. Customers are becoming more aware of the potential harmful effects of synthetic ingredients and are seeking out products that are made from natural and organic ingredients. This trend is driven by a growing interest in sustainability and a desire for products that are perceived to be healthier for the skin. Another trend in the market is the rise of online sales channels. With the increasing penetration of internet and smartphones in ASEAN countries, customers are increasingly turning to online platforms to purchase skin treatment products. This trend is driven by the convenience and ease of online shopping, as well as the availability of a wider range of products compared to physical stores. Online platforms also provide customers with the opportunity to read reviews and compare prices, which further enhances their shopping experience.
Local special circumstances: ASEAN countries have diverse climates and environmental conditions, which can have a significant impact on the skin. For example, countries like Thailand and Indonesia have tropical climates, which can lead to increased humidity and exposure to the sun. As a result, customers in these countries may have specific skin concerns, such as oily skin or sun damage, which require targeted treatments. This creates opportunities for companies to develop products that are tailored to the specific needs of customers in these countries.
Underlying macroeconomic factors: The growth of the Skin Treatment (Pharmacies) market in ASEAN is also influenced by underlying macroeconomic factors. ASEAN countries have been experiencing steady economic growth, which has resulted in an expanding middle class with higher disposable incomes. As a result, customers in these countries have more purchasing power and are willing to spend on skin treatment products. Additionally, the increasing urbanization and westernization of ASEAN countries have also contributed to the growth of the market, as customers are becoming more exposed to global beauty trends and are seeking out products that can help them achieve the desired look. In conclusion, the Skin Treatment (Pharmacies) market in ASEAN is developing due to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. As customers in ASEAN countries become more conscious about their skin health and seek out convenient and affordable treatments, the market is expected to continue growing in the coming years.
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.
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