Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - Greece

Greece

Revenue in the Skin Treatment market is projected to reach US$45.68m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.27%, resulting in a market volume of US$56.29m 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$4.43 are generated in 2024.

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

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Analyst Opinion

The Skin Treatment (Pharmacies) market in Greece has been experiencing steady growth in recent years. Customer preferences for skincare products have shifted towards natural and organic options, driving the demand for such products in the market. Additionally, the increasing awareness about the importance of skincare and the availability of a wide range of products in pharmacies have contributed to the growth of the market.

Customer preferences: In Greece, customers have shown a strong preference for natural and organic skincare products. This trend is in line with the global shift towards more sustainable and environmentally friendly options. Consumers are increasingly concerned about the ingredients used in skincare products and are actively seeking out products that are free from harmful chemicals and artificial additives. As a result, pharmacies in Greece have been stocking a larger variety of natural and organic skincare products to meet the growing demand.

Trends in the market: One of the key trends in the Skin Treatment (Pharmacies) market in Greece is the rising popularity of anti-aging products. With an aging population, there is a growing demand for skincare products that target wrinkles, fine lines, and other signs of aging. Pharmacies have responded to this trend by offering a wide range of anti-aging creams, serums, and treatments. Furthermore, the market has seen an increase in the availability of specialized skincare products for specific skin concerns, such as acne, sensitive skin, and hyperpigmentation.

Local special circumstances: Greece is known for its abundant natural resources, including olive oil, which has long been used in skincare products for its moisturizing and nourishing properties. This has led to the development of a thriving local skincare industry that utilizes these natural ingredients. Greek skincare brands have gained popularity not only in the domestic market but also internationally, attracting customers who are seeking high-quality and natural skincare products.

Underlying macroeconomic factors: The economic stability and growth in Greece have played a significant role in the development of the Skin Treatment (Pharmacies) market. As the economy has improved, consumers have more disposable income to spend on skincare products. Additionally, the tourism industry in Greece has been flourishing, attracting visitors from around the world. This has created a demand for skincare products from tourists who are looking to purchase souvenirs or take advantage of the country's reputation for natural beauty products. In conclusion, the Skin Treatment (Pharmacies) market in Greece is experiencing growth due to customer preferences for natural and organic skincare products, the rising popularity of anti-aging products, and the availability of specialized skincare options. The local special circumstances, such as the abundance of natural resources and the success of Greek skincare brands, further contribute to the development of the market. The underlying macroeconomic factors, including economic stability and the growth of the tourism industry, also play a significant role in driving the demand for skincare products in Greece.

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.