Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - Oman

Oman

Revenue in the Skin Treatment market is projected to reach US$21.43m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.97%, resulting in a market volume of US$27.31m 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$4.55 are generated in 2024.

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

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Analyst Opinion

The Skin Treatment (Pharmacies) market in Oman has been experiencing significant growth in recent years.

Customer preferences: Customers in Oman have shown a growing preference for skin treatment products that are natural and organic. They are increasingly seeking out products that are free from harsh chemicals and artificial ingredients. This trend is in line with the global shift towards more sustainable and eco-friendly products. Customers are also looking for products that address specific skin concerns, such as anti-aging, hydration, and acne treatment.

Trends in the market: One of the key trends in the Skin Treatment (Pharmacies) market in Oman is the increasing demand for anti-aging products. As the population ages, there is a growing need for products that can help reduce the signs of aging and improve the overall appearance of the skin. This trend is not unique to Oman, but is seen worldwide. Another trend in the market is the rising popularity of online shopping for skin treatment products. Customers in Oman are increasingly turning to online platforms to purchase their skincare products, as it offers convenience and a wider range of options. This trend is also driven by the COVID-19 pandemic, which has led to an increase in online shopping across various industries.

Local special circumstances: Oman is known for its hot and dry climate, which can have a significant impact on the skin. The harsh weather conditions can lead to dryness, dehydration, and other skin issues. As a result, customers in Oman are particularly conscious about taking care of their skin and are willing to invest in high-quality skincare products.

Underlying macroeconomic factors: The growing economy and increasing disposable income in Oman have contributed to the growth of the Skin Treatment (Pharmacies) market. As people have more money to spend, they are willing to invest in skincare products to maintain their appearance and overall well-being. In conclusion, the Skin Treatment (Pharmacies) market in Oman is experiencing growth due to customer preferences for natural and organic products, the increasing demand for anti-aging products, the rising popularity of online shopping, the local special circumstances of Oman's climate, and the underlying macroeconomic factors such as the growing economy and increasing disposable income.

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.