Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - CIS

Revenue in the Skin Treatment market is projected to reach US$1.93bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.89%, resulting in a market volume of US$2.57bn 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$7.94 are generated in 2024.

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

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Analyst Opinion

The Skin Treatment (Pharmacies) market in CIS is experiencing significant growth due to changing customer preferences and market trends.

Customer preferences: Customers in the CIS region are increasingly concerned about their skin health and are becoming more proactive in seeking out skin treatment products. This is driven by a growing awareness of the importance of skincare and the desire to maintain a youthful appearance. As a result, there is a rising demand for skin treatment products in pharmacies.

Trends in the market: One of the key trends in the CIS market is the increasing popularity of natural and organic skincare products. Consumers are becoming more conscious of the ingredients used in their skincare products and are actively seeking out products that are free from harmful chemicals. This trend is driving the demand for natural and organic skin treatment products in pharmacies. Another trend in the market is the growing popularity of anti-aging skincare products. As the population in the CIS region ages, there is a higher demand for products that can help reduce the signs of aging and improve skin elasticity. Pharmacies are capitalizing on this trend by offering a wide range of anti-aging skincare products to cater to the needs of their customers.

Local special circumstances: The CIS region has a unique climate, with harsh winters and hot summers. These extreme weather conditions can have a negative impact on the skin, leading to dryness, sensitivity, and other skin issues. As a result, there is a higher demand for skin treatment products in pharmacies to address these specific skincare needs.

Underlying macroeconomic factors: The growing middle class in the CIS region is driving the demand for skin treatment products in pharmacies. As disposable incomes increase, consumers have more purchasing power to invest in skincare products. Additionally, the rise of e-commerce platforms has made it easier for customers to access a wide range of skin treatment products, further fueling the growth of the market. In conclusion, the Skin Treatment (Pharmacies) market in CIS is experiencing growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The demand for natural and organic skincare products, as well as anti-aging skincare products, is driving the growth of the market. Additionally, the unique climate in the CIS region and the increasing disposable incomes of the middle class are contributing to the expansion of the market.

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.