Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - Fiji

Fiji

Revenue in the Skin Treatment market is projected to reach US$1.34m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.35%, resulting in a market volume of US$1.91m 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$1.42 are generated in 2024.

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

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Analyst Opinion

Skin Treatment (Pharmacies) market in Fiji is experiencing significant growth and development.

Customer preferences: Customers in Fiji have shown a growing interest in skin treatment products available in pharmacies. They prefer to purchase these products from pharmacies due to the convenience and accessibility they offer. Pharmacies are often located in close proximity to residential areas, making it easier for customers to purchase skin treatment products. Additionally, customers trust the expertise of pharmacists in recommending the right products for their skin concerns.

Trends in the market: One of the key trends in the skin treatment market in Fiji is the increasing demand for natural and organic 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 driven by the global movement towards clean beauty and the increasing awareness of the potential side effects of certain synthetic ingredients. Another trend in the market is the rising popularity of anti-aging products. As the population in Fiji ages, there is a growing demand for skincare products that address the signs of aging such as wrinkles and fine lines. Customers are willing to invest in premium anti-aging products that promise visible results.

Local special circumstances: Fiji's tropical climate and high humidity levels pose unique challenges for skincare. The hot and humid weather can lead to increased oil production and clogged pores, making it essential for customers to find products that are suitable for their specific skin type. Additionally, exposure to the sun's harsh rays can cause skin damage, making sun protection a crucial aspect of skincare in Fiji.

Underlying macroeconomic factors: The growing economy in Fiji has contributed to the development of the skin treatment market. With increasing disposable income, customers are more willing to spend on skincare products to maintain their skin health. Furthermore, the tourism industry in Fiji has also played a role in driving the demand for skincare products. Tourists visiting the country often seek skincare products to protect their skin from the sun and tropical weather. In conclusion, the Skin Treatment (Pharmacies) market in Fiji is experiencing growth and development due to customer preferences for convenient access to skincare products, the rising demand for natural and anti-aging products, the unique challenges posed by the local climate, and the underlying macroeconomic factors such as the growing economy and tourism industry.

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.