Skin Treatment (Pharmacies) - Norway

Revenue in the Skin Treatment market is projected to reach US$13.23m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.93%, resulting in a market volume of US$15.29m 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$2.40 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 Norway has been experiencing steady growth in recent years.

Customer preferences: Norwegian consumers have shown an increasing interest in skincare products and treatments, leading to a growing demand for skin treatment products in pharmacies. This can be attributed to several factors, including a greater awareness of the importance of skincare, the desire for healthier and more youthful-looking skin, and the influence of social media and beauty trends. Customers are looking for products that are effective, safe, and convenient to use, and they are willing to invest in high-quality products that deliver results.

Trends in the market: One of the key trends in the Skin Treatment (Pharmacies) market in Norway is the rising popularity of natural and organic skincare products. Consumers are becoming more conscious of the ingredients used in their skincare products and are seeking out products that are free from harmful chemicals and artificial additives. This trend is driven by a growing interest in sustainability and a desire for products that are gentle on the skin and the environment. Another trend in the market is the increasing demand for anti-aging skincare products. As the Norwegian population ages, there is a growing desire to maintain a youthful appearance and prevent the signs of aging. This has led to a surge in the sales of anti-aging creams, serums, and treatments in pharmacies. Customers are looking for products that target specific skin concerns, such as wrinkles, fine lines, and age spots, and they are willing to invest in products that promise visible results.

Local special circumstances: Norway's unique climate and environmental conditions also play a role in shaping the Skin Treatment (Pharmacies) market. The country's cold and dry climate can be harsh on the skin, leading to issues such as dryness, sensitivity, and redness. This has created a demand for skincare products that provide intense hydration and protection against the elements. Additionally, the high levels of UV radiation in Norway during the summer months have led to an increased awareness of the importance of sun protection, resulting in a higher demand for sunscreen and other sun care products.

Underlying macroeconomic factors: The strong economy in Norway has contributed to the growth of the Skin Treatment (Pharmacies) market. With a high disposable income and a high standard of living, Norwegian consumers have the financial means to invest in skincare products and treatments. Additionally, the country's well-developed healthcare system and emphasis on preventive healthcare have also played a role in driving the demand for skin treatment products in pharmacies. In conclusion, the Skin Treatment (Pharmacies) market in Norway is experiencing growth due to increasing customer preferences for skincare products, including natural and organic options, as well as anti-aging treatments. The unique climate and environmental conditions in Norway, along with the strong economy and healthcare system, contribute to the market's development.

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.