Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - Finland

Finland

Revenue in the Skin Treatment market is projected to reach US$27.52m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.99%, resulting in a market volume of US$35.11m 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$4.96 are generated in 2024.

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

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Analyst Opinion

The Skin Treatment (Pharmacies) market in Finland has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Skin Treatment (Pharmacies) market in Finland have shifted towards natural and organic products, as consumers become more conscious about the ingredients they put on their skin. This preference for natural products is also influenced by global trends, as consumers worldwide are increasingly seeking out sustainable and environmentally-friendly options. As a result, there has been a rise in demand for skincare products that are free from harmful chemicals and use natural ingredients. Trends in the market include the growing popularity of multi-step skincare routines, inspired by the Korean beauty trend. Finnish consumers are now more willing to invest in a range of skincare products, including cleansers, toners, serums, and moisturizers, to achieve a healthy and radiant complexion. This trend has led to an increase in the variety of skincare products available in pharmacies, catering to the diverse needs of consumers. Local special circumstances, such as Finland's cold climate and long winters, have also contributed to the development of the Skin Treatment (Pharmacies) market. The harsh weather conditions can have a drying and damaging effect on the skin, leading to a higher demand for moisturizing and protective skincare products. Finnish consumers are particularly interested in products that provide intense hydration and help to combat dryness and sensitivity. Underlying macroeconomic factors, such as a growing economy and increasing disposable income, have also played a role in the development of the Skin Treatment (Pharmacies) market in Finland. As consumers have more purchasing power, they are able to spend more on skincare products and invest in higher quality options. The overall positive economic climate has created a favorable environment for the growth of the market. In conclusion, the Skin Treatment (Pharmacies) market in Finland is developing in response to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards natural and organic products, the popularity of multi-step skincare routines, Finland's cold climate, and the country's growing economy are all contributing to the growth 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.