Skin Treatment (Pharmacies) - Estonia

Revenue in the Skin Treatment market is projected to reach US$15.23m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.66%, resulting in a market volume of US$23.07m 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$11.54 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 Estonia has been experiencing steady growth in recent years. Customer preferences in the market have been shifting towards natural and organic skincare products. Consumers 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 not unique to Estonia, but is seen worldwide as consumers are becoming more health-conscious and environmentally aware. Another trend in the market is the growing demand for anti-aging skincare products. With an aging population, there is an increasing need for products that can help reduce the signs of aging and improve skin elasticity. This trend is driven by the desire to maintain a youthful appearance and the increasing awareness of the importance of skincare in overall well-being. Local special circumstances in Estonia also contribute to the development of the Skin Treatment (Pharmacies) market. Estonia has a well-developed healthcare system, which includes a network of pharmacies that provide a wide range of skincare products. Pharmacies are a trusted source for skincare products, as they provide professional advice and guidance to customers. This makes pharmacies a popular choice for consumers when purchasing skincare products. Underlying macroeconomic factors also play a role in the growth of the market. Estonia has experienced steady economic growth in recent years, which has led to an increase in disposable income. This has allowed consumers to spend more on skincare products, including those sold in pharmacies. Additionally, the tourism industry in Estonia has been growing, attracting visitors from around the world. These tourists also contribute to the demand for skincare products, further driving the growth of the market. In conclusion, the Skin Treatment (Pharmacies) market in Estonia is developing due to shifting customer preferences towards natural and organic skincare products, the growing demand for anti-aging skincare products, the presence of a well-developed pharmacy network, and underlying macroeconomic factors such as steady economic growth and the growth of the tourism industry.

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.