Skin Treatment (Pharmacies) - Lithuania

Revenue in the Skin Treatment market is projected to reach US$27.14m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.87%, resulting in a market volume of US$41.50m 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$10.08 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 Lithuania is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Skin Treatment (Pharmacies) market in Lithuania have shifted towards natural and organic 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 driven by a growing awareness of the potential health risks associated with synthetic ingredients. As a result, there has been an increase in demand for skincare products that are made from natural and organic ingredients. Trends in the market also contribute to the growth of the Skin Treatment (Pharmacies) market in Lithuania. One of the emerging trends is the rise of personalized skincare. Consumers are looking for skincare products that are tailored to their specific needs and concerns. This trend is fueled by advancements in technology, such as artificial intelligence and machine learning, which allow for the customization of skincare products based on individual skin type, age, and other factors. Personalized skincare products are gaining popularity as they offer a more targeted and effective solution for skincare concerns. Another trend in the market is the increasing popularity of K-beauty products. K-beauty, or Korean beauty, has gained a global following in recent years, and Lithuania is no exception. K-beauty products are known for their innovative formulations, unique ingredients, and emphasis on skincare rituals. The popularity of K-beauty products can be attributed to their effectiveness in addressing various skin concerns, as well as their affordable price points. Local special circumstances also play a role in the development of the Skin Treatment (Pharmacies) market in Lithuania. The country has a well-developed pharmacy network, with pharmacies being a trusted source for skincare products. Pharmacies in Lithuania often offer a wide range of skincare brands and products, making it convenient for consumers to access and purchase their preferred skincare items. Additionally, the presence of knowledgeable pharmacists who can provide expert advice on skincare further enhances the appeal of purchasing skincare products from pharmacies. Underlying macroeconomic factors also contribute to the growth of the Skin Treatment (Pharmacies) market in Lithuania. The country's strong economic growth and increasing disposable income levels have resulted in higher consumer spending on skincare products. As consumers have more purchasing power, they are willing to invest in high-quality skincare products that can address their specific skincare concerns. Furthermore, the growing middle class in Lithuania has led to an expansion of the consumer base for skincare products, driving the overall market growth. In conclusion, the Skin Treatment (Pharmacies) market in Lithuania is experiencing growth due to changing customer preferences towards natural and organic products, emerging trends such as personalized skincare and K-beauty, local special circumstances including a well-developed pharmacy network, and underlying macroeconomic factors such as strong economic growth and increasing disposable income levels.

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.