Skin Treatment (Pharmacies) - Lesotho

Revenue in the Skin Treatment market is projected to reach US$872.70k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.74%, resulting in a market volume of US$1.21m by 2029.
In global comparison, most revenue will be generated United States (US$3.32bn in 2024).
In relation to total population figures, per person revenues of US$0.37 are generated in 2024.

Definition: Skin Treatment Market
The Skin Treatment market encompasses a range of over-the-counter (OTC) natural and synthetic medical products designed for skin treatment. This category includes antibacterial preparations, agents for acne treatment, and antifungal solutions. These treatment preparations are available in various forms, such as ointments, creams, gels, pills, capsules, washing lotions, peelings, pastes, solutions, fluids, suppositories, and sprays. Both external and internal applications are covered in this market segment. It's important to note that prescription medications, products contravening state regulations, items that do not explicitly serve as skin treatment drugs (e.g., painkillers), or those primarily intended for cosmetic purposes are excluded from this definition. This market exclusively covers product sales through pharmacies.

Additional Information:
The Skin Treatment market comprises revenues, average revenue per capita and average revenue per pharmacy. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Natural and synthetic agents
Agents for internal and external application
Preparations to treat skin diseases (e.g. acne treatment)

Prescription medicines
Homeopathic remedies
Painkillers
Cosmetic products
Adhesive patches

The Skin Treatment (Pharmacies) market in Lesotho has been experiencing significant growth in recent years. Customer preferences for skincare products have shifted towards natural and organic ingredients, as consumers become more conscious about the potential harmful effects of chemicals on their skin. This trend is not unique to Lesotho, but is part of a global movement towards more sustainable and eco-friendly products. In line with this shift in customer preferences, there has been a rise in the demand for natural and organic skincare products in Lesotho. Consumers are increasingly seeking out products that are free from harmful chemicals and are made from natural ingredients. This has led to the introduction of a wide range of natural and organic skincare brands in the market, offering products such as moisturizers, cleansers, and serums. Another trend in the market is the growing popularity of anti-aging skincare products. As the population in Lesotho ages, there is a greater demand for products that can help reduce the signs of aging and maintain a youthful appearance. This has led to the introduction of a variety of anti-aging skincare products, including creams, serums, and masks, that target specific skin concerns such as wrinkles, fine lines, and age spots. In addition to these customer preferences, there are also local special circumstances that are driving the development of the Skin Treatment (Pharmacies) market in Lesotho. One such circumstance is the high prevalence of skin conditions such as acne and eczema. These conditions require specialized skincare products that can help manage and treat the symptoms. As a result, there is a growing demand for dermatologist-recommended skincare products that are specifically formulated to address these skin concerns. Furthermore, Lesotho has a strong culture of traditional medicine, which has also contributed to the development of the skincare market. Many consumers in Lesotho prefer to use natural remedies and traditional skincare practices, such as herbal treatments and homemade remedies. This has led to the introduction of traditional skincare brands and products in the market, which cater to these consumer preferences. Underlying macroeconomic factors, such as a growing middle class and increasing disposable income, have also played a role in the development of the Skin Treatment (Pharmacies) market in Lesotho. As more people have the means to spend on skincare products, the market has seen a boost in sales and a wider range of products being offered. In conclusion, the Skin Treatment (Pharmacies) market in Lesotho is developing in response to shifting customer preferences towards natural and organic products, as well as the growing demand for anti-aging and dermatologist-recommended skincare products. Local special circumstances, such as the prevalence of skin conditions and the culture of traditional medicine, have also influenced the market. These trends, along with underlying macroeconomic factors, have contributed to the growth and diversification of the skincare market in Lesotho.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.