Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - Central Africa

Central Africa

Revenue in the Skin Treatment market is projected to reach US$47.47m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.74%, resulting in a market volume of US$57.12m by 2028.
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$0.49 are generated in 2024.

Key regions: Canada, United States, France, Europe, United Kingdom

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Analyst Opinion

The Skin Treatment (Pharmacies) market in Central Africa is experiencing steady growth due to increasing customer preferences for skincare products, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Central Africa are increasingly prioritizing their skincare routines and investing in skin treatment products. This can be attributed to the growing awareness of the importance of skincare and the desire for healthier and younger-looking skin. Customers are seeking products that cater to their specific skin concerns, such as acne, dryness, and aging. They also prefer products that are made from natural ingredients and are free from harmful chemicals. Additionally, customers are increasingly looking for products that offer multiple benefits, such as moisturizing, brightening, and anti-aging properties.

Trends in the market: One of the key trends in the Skin Treatment (Pharmacies) market in Central Africa is the rise of organic and natural skincare products. Customers are becoming more conscious about the ingredients used in their skincare products and are opting for natural alternatives. This trend is driven by the growing demand for sustainable and eco-friendly products. Additionally, there is an increasing preference for products that are cruelty-free and vegan. Another trend in the market is the growing popularity of anti-aging skincare products. As the population in Central Africa ages, there is a higher demand for products that can help reduce the signs of aging, such as wrinkles and fine lines. Customers are willing to invest in premium skincare products that offer effective anti-aging benefits.

Local special circumstances: Central Africa has a diverse climate, with some regions experiencing high levels of humidity and others having dry and arid conditions. This creates unique skincare challenges for customers, such as excessive oiliness or dryness. As a result, customers in Central Africa are looking for skincare products that can address these specific concerns and provide effective solutions.

Underlying macroeconomic factors: The growing middle class in Central Africa is contributing to the growth of the Skin Treatment (Pharmacies) market. With increasing disposable incomes, customers have more purchasing power to invest in skincare products. Additionally, the urbanization and modernization of cities in Central Africa have led to a shift in lifestyle and beauty standards, further driving the demand for skincare products. In conclusion, the Skin Treatment (Pharmacies) market in Central Africa is witnessing growth due to customer preferences for skincare products, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customers are seeking products that cater to their specific skin concerns and are opting for natural and organic alternatives. The rise of the middle class and changing beauty standards 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.