Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - United Kingdom

United Kingdom

Revenue in the Skin Treatment market is projected to reach US$326.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.50%, resulting in a market volume of US$491.50m 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$4.81 are generated in 2024.

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

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Analyst Opinion

The Skin Treatment (Pharmacies) market in United Kingdom is experiencing steady growth due to changing customer preferences and trends in the market.

Customer preferences: Customers in the United Kingdom are increasingly becoming conscious about their skin health and are seeking effective solutions for various skin conditions. This has led to a growing demand for skin treatment products in pharmacies. Customers are looking for products that address specific skin concerns such as acne, aging, and dryness. They are also seeking natural and organic ingredients in their skincare products. Additionally, customers are becoming more aware of the importance of sun protection and are looking for products with high SPF ratings.

Trends in the market: One of the key trends in the Skin Treatment (Pharmacies) market in United Kingdom is the rising popularity of skincare routines and regimens. Customers are adopting multi-step skincare routines that involve cleansing, toning, moisturizing, and treating specific skin concerns. This trend has led to an increase in the demand for a wide range of skin treatment products, including cleansers, toners, serums, and masks. Another trend in the market is the growing demand for natural and organic skincare products. Customers are becoming more conscious about the ingredients used in their skincare products and are opting for products that are free from harmful chemicals and additives. This has led to the emergence of niche brands that specialize in natural and organic skincare products.

Local special circumstances: The Skin Treatment (Pharmacies) market in United Kingdom is highly competitive, with a large number of national and international brands competing for market share. Local brands have an advantage in terms of understanding the specific needs and preferences of the local customers. They are able to tailor their products to meet these needs and provide personalized solutions. International brands, on the other hand, bring their global expertise and research to the market, offering innovative and technologically advanced products.

Underlying macroeconomic factors: The growth of the Skin Treatment (Pharmacies) market in United Kingdom is also influenced by underlying macroeconomic factors. The country has a strong economy and a high standard of living, which allows customers to allocate a significant portion of their disposable income towards skincare products. Additionally, the aging population in the United Kingdom is driving the demand for anti-aging skincare products. As people age, they become more concerned about maintaining their skin health and preventing signs of aging. This has created a lucrative market for anti-aging skincare products in the country. In conclusion, the Skin Treatment (Pharmacies) market in United Kingdom is experiencing growth due to changing customer preferences, including the adoption of skincare routines and the demand for natural and organic products. The market is highly competitive, with both local and international brands vying for market share. The underlying macroeconomic factors, such as a strong economy and an aging population, are also contributing to the growth of the market.

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.