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