Key regions: Germany, Europe, South Korea, France, China
The Skin Treatment (Pharmacies) market in Bhutan has been experiencing steady growth in recent years.
Customer preferences: Customers in Bhutan have shown a growing interest in skin treatment products available in pharmacies. This can be attributed to several factors. Firstly, there is a growing awareness among consumers about the importance of skincare and the need to address various skin issues. Secondly, the availability of a wide range of skin treatment products in pharmacies has made it convenient for customers to access these products. Finally, customers in Bhutan prefer to purchase skincare products from pharmacies due to the trust and reliability associated with these establishments.
Trends in the market: One of the key trends in the Skin Treatment (Pharmacies) market in Bhutan is the increasing demand for natural and organic skincare products. Customers are becoming more conscious about the ingredients used in skincare products and are opting for products that are free from harmful chemicals. This trend is in line with the global shift towards natural and organic skincare products. Another trend in the market is the rising popularity of anti-aging skincare products. With an aging population, there is a growing demand for products that can help reduce the signs of aging and improve skin elasticity. Customers are seeking products that can effectively address issues such as wrinkles, fine lines, and age spots.
Local special circumstances: Bhutan is a landlocked country located in the Eastern Himalayas. The country is known for its unique culture and commitment to environmental conservation. This has had an impact on the skincare market in Bhutan. Customers in Bhutan have a preference for skincare products that are made using traditional Bhutanese ingredients and traditional manufacturing techniques. This has created opportunities for local skincare brands that specialize in using natural ingredients sourced from the country.
Underlying macroeconomic factors: The growing economy of Bhutan has also played a role in the development of the Skin Treatment (Pharmacies) market. As the country's economy continues to grow, disposable incomes are increasing, allowing consumers to spend more on skincare products. Additionally, the government's focus on healthcare and well-being has created a conducive environment for the growth of the skincare market. In conclusion, the Skin Treatment (Pharmacies) market in Bhutan is experiencing growth due to customer preferences for natural and organic skincare products, the rising demand for anti-aging products, the preference for purchasing skincare products from pharmacies, and the availability of traditional Bhutanese skincare brands. The growing economy and the government's focus on healthcare have also contributed to the development 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.
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