Skin Treatment (Pharmacies) - Chile

Revenue in the Skin Treatment market is projected to reach US$141.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.52%, resulting in a market volume of US$184.60m 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$7.18 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 Chile has been experiencing significant growth in recent years.

Customer preferences: Customers in Chile have shown a strong preference for skin treatment products that are natural and organic. They are increasingly concerned about the ingredients used in skincare products and are seeking out products that are free from harmful chemicals. This preference for natural and organic products is in line with global trends, as consumers become more conscious about their health and the environment.

Trends in the market: One of the key trends in the Skin Treatment (Pharmacies) market in Chile is the growing demand for anti-aging products. As the population ages, there is a greater need for skincare products that can help reduce the signs of aging and maintain youthful-looking skin. This trend is also driven by changing societal norms, as people are now more focused on self-care and looking their best at any age. Another trend in the market is the increasing popularity of multi-functional skincare products. Customers in Chile are looking for products that can address multiple skin concerns, such as moisturizing, brightening, and protecting against sun damage. This trend is driven by convenience and the desire for a simplified skincare routine.

Local special circumstances: Chile has a unique climate, with a wide range of weather conditions throughout the country. This has led to a demand for skincare products that can address specific skin concerns related to the climate. For example, customers in regions with high altitude may require products that provide extra hydration, while those in coastal areas may need products that protect against sun damage and environmental pollutants.

Underlying macroeconomic factors: The growth of the Skin Treatment (Pharmacies) market in Chile can be attributed to several macroeconomic factors. Firstly, the country's economy has been relatively stable in recent years, with increasing disposable incomes. This has allowed consumers to spend more on skincare products and invest in their personal well-being. Additionally, there has been a rise in the number of pharmacies and beauty stores in Chile, providing customers with greater access to a wide range of skincare products. This has contributed to the growth of the market, as customers have more options to choose from and can easily find products that meet their specific needs. In conclusion, the Skin Treatment (Pharmacies) market in Chile is developing in response to customer preferences for natural and organic products, as well as the growing demand for anti-aging and multi-functional skincare products. The unique climate in Chile also influences the types of products that customers are seeking. The underlying macroeconomic factors, such as stable economic conditions and increased availability of skincare products, have further fueled 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.