Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - Lebanon

Lebanon

Revenue in the Skin Treatment market is projected to reach US$13.13m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.35%, resulting in a market volume of US$15.57m by 2028.
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$2.52 are generated in 2024.

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

Market

Region

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Currency

Analyst Opinion

The Skin Treatment (Pharmacies) market in Lebanon has been experiencing steady growth in recent years.

Customer preferences: Lebanese consumers have shown a growing interest in skincare and beauty products, leading to an increased demand for skin treatment products in pharmacies. This can be attributed to several factors, including the rising awareness of the importance of skincare and the influence of social media in promoting beauty trends. Lebanese consumers are becoming more conscious of their appearance and are willing to invest in high-quality skincare products to achieve healthy and radiant skin.

Trends in the market: One of the key trends in the Skin Treatment (Pharmacies) market in Lebanon is the growing popularity of natural and organic skincare products. Consumers are increasingly seeking products that are free from harmful chemicals and artificial ingredients. This trend is driven by the desire for a more sustainable and eco-friendly lifestyle, as well as concerns about potential side effects of synthetic ingredients. As a result, pharmacies in Lebanon are stocking a wider range of natural and organic skincare brands to cater to this growing demand. Another trend in the market is the increasing focus on anti-aging skincare products. Lebanon has a relatively mature population, with a significant proportion of the population aged 40 and above. This demographic group is particularly interested in skincare products that can help reduce the signs of aging and maintain youthful-looking skin. Pharmacies are responding to this demand by offering a variety of anti-aging skincare products, including serums, creams, and masks that target specific skin concerns such as wrinkles and fine lines.

Local special circumstances: Lebanon is known for its vibrant beauty industry, with a wide range of local and international skincare brands available in the market. This creates a competitive environment for pharmacies, as they need to differentiate themselves by offering unique products and personalized services. Many pharmacies in Lebanon have established partnerships with dermatologists and skincare experts to provide professional advice and recommendations to customers. This personalized approach helps build customer trust and loyalty, leading to repeat purchases and word-of-mouth referrals.

Underlying macroeconomic factors: The growth of the Skin Treatment (Pharmacies) market in Lebanon is also influenced by macroeconomic factors. Despite the challenging economic situation in the country, skincare products are considered essential by many consumers and are not easily substituted. Additionally, the Lebanese population has a relatively high disposable income compared to other countries in the region, allowing them to spend more on skincare products. However, the recent economic crisis has led to some price sensitivity among consumers, prompting pharmacies to offer more affordable options and promotional discounts to attract customers. In conclusion, the Skin Treatment (Pharmacies) market in Lebanon is developing due to increasing customer preferences for natural and organic skincare products, as well as a growing demand for anti-aging solutions. Pharmacies in Lebanon are adapting to these trends by offering a wide range of products and personalized services. Despite the challenging economic situation, the skincare market in Lebanon remains resilient due to the essential nature of these products and the relatively high disposable income of the population.

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.