Skin Treatment (Pharmacies) - Zimbabwe

Revenue in the Skin Treatment market is projected to reach US$7.76m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.37%, resulting in a market volume of US$7.62m 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$0.46 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 Zimbabwe has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the Skin Treatment (Pharmacies) market in Zimbabwe have shifted towards natural and organic products. Consumers are becoming more conscious of the ingredients in the products they use and are seeking out options that are free from harmful chemicals and additives. This preference for natural products is not unique to Zimbabwe, but is a global trend driven by increasing awareness of the potential health risks associated with synthetic ingredients. As a result, pharmacies in Zimbabwe have been stocking a wider variety of natural and organic skin treatment products to meet the growing demand. Trends in the market have also played a role in the development of the Skin Treatment (Pharmacies) market in Zimbabwe. One notable trend is the increasing popularity of multi-step skincare routines. Inspired by Korean beauty trends, consumers are adopting more complex skincare regimens that involve multiple products and steps. This trend has led to an increase in sales of skincare products in pharmacies, as consumers seek out a variety of products to incorporate into their routines. Additionally, there has been a rise in demand for products that address specific skin concerns, such as acne, aging, and hyperpigmentation. Pharmacies in Zimbabwe have responded to these trends by expanding their product offerings to include a wider range of specialized skincare products. Local special circumstances have also contributed to the growth of the Skin Treatment (Pharmacies) market in Zimbabwe. The country has a high prevalence of skin conditions such as eczema, psoriasis, and acne, which has created a strong demand for effective skin treatment products. Additionally, the hot and dry climate in Zimbabwe can be harsh on the skin, leading to increased need for moisturizing and protective skincare products. Pharmacies in Zimbabwe have capitalized on these local conditions by stocking a variety of products that cater to the specific needs of the population. Underlying macroeconomic factors have also played a role in the development of the Skin Treatment (Pharmacies) market in Zimbabwe. The country has experienced economic growth in recent years, which has led to an increase in disposable income and consumer spending. As a result, consumers in Zimbabwe have more money to spend on skincare products, leading to increased sales in the Skin Treatment (Pharmacies) market. Additionally, the growing middle class in Zimbabwe has created a larger customer base for pharmacies, as more people have access to healthcare and can afford to purchase skincare products. In conclusion, the Skin Treatment (Pharmacies) market in Zimbabwe has been developing due to customer preferences for natural and organic products, trends in the market such as multi-step skincare routines and specialized skincare products, local special circumstances such as a high prevalence of skin conditions and a hot climate, and underlying macroeconomic factors such as economic growth and increased consumer spending.

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.