Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - Northern Africa

Northern Africa

Revenue in the Skin Treatment market is projected to reach US$272.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.14%, resulting in a market volume of US$403.30m 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$1.05 are generated in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Skin Treatment (Pharmacies) market in Northern Africa has been experiencing significant growth in recent years. Customer preferences in the region have shifted towards a greater focus on skincare and overall wellness. Consumers are becoming more aware of the importance of taking care of their skin and are seeking out products that can address specific concerns such as acne, aging, and hyperpigmentation. This has led to an increased demand for skin treatment products in pharmacies. Trends in the market show a growing interest in natural and organic skincare products. Consumers are increasingly looking for products that are free from harmful chemicals and are made with natural ingredients. This trend is driven by a desire for more sustainable and environmentally-friendly options, as well as a growing awareness of the potential health risks associated with certain synthetic ingredients. Another trend in the market is the rise of multi-functional skincare products. Consumers are looking for products that can provide multiple benefits in one, such as moisturizing, brightening, and anti-aging properties. This trend is driven by a desire for convenience and efficiency in skincare routines, as well as a preference for products that offer a holistic approach to skincare. Local special circumstances in Northern Africa also contribute to the growth of the Skin Treatment (Pharmacies) market. The region has a high prevalence of skin conditions such as acne and hyperpigmentation, which drives the demand for effective treatment options. Additionally, the hot and dry climate in many parts of Northern Africa can lead to skin dryness and sensitivity, further increasing the need for skincare products. Underlying macroeconomic factors also play a role in the development of the Skin Treatment (Pharmacies) market in Northern Africa. The region has experienced economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed consumers to allocate a larger portion of their budget towards skincare products, including skin treatments. In conclusion, the Skin Treatment (Pharmacies) market in Northern Africa is developing due to changing customer preferences, including a focus on skincare and wellness, a preference for natural and multi-functional products, and the presence of local special circumstances such as prevalent skin conditions and a hot climate. These trends are supported by underlying macroeconomic factors such as economic growth and increased consumer spending.

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.