Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - Jordan

Jordan

Revenue in the Skin Treatment market is projected to reach US$14.61m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.80%, resulting in a market volume of US$21.27m 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$1.28 are generated in 2024.

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

Market

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Analyst Opinion

The Skin Treatment (Pharmacies) market in Jordan has been experiencing significant 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 preference for natural and organic products is a global trend, driven by growing awareness about the potential side effects of synthetic ingredients. In addition, consumers are also looking for products that are cruelty-free and environmentally friendly. Another trend in the market is the growing demand for anti-aging skincare products. As the population in Jordan ages, there is an increasing desire to maintain a youthful appearance. This has led to a rise in the demand for products that target wrinkles, fine lines, and other signs of aging. Anti-aging products often contain ingredients such as retinol, hyaluronic acid, and peptides, which are known for their anti-aging properties. Local special circumstances in Jordan also play a role in the development of the Skin Treatment (Pharmacies) market. The country has a hot and dry climate, which can be harsh on the skin. This has led to a higher demand for moisturizing and hydrating skincare products. Additionally, the cultural preference for modesty in dress often means that the skin is not exposed to the sun as much, leading to a greater emphasis on skincare products for the face. Underlying macroeconomic factors have also contributed to the growth of the market. Jordan 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 for skin treatment. Furthermore, the expansion of the middle class in the country has resulted in a larger consumer base for skincare products. In conclusion, the Skin Treatment (Pharmacies) market in Jordan is developing due to customer preferences for natural and organic products, the growing demand for anti-aging skincare products, local special circumstances such as the climate and cultural preferences, and underlying macroeconomic factors such as economic growth and an expanding middle class.

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.