Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - Central & Western Europe

Central & Western Europe

Revenue in the Skin Treatment market is projected to reach US$2.14bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.18%, resulting in a market volume of US$2.72bn 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$6.38 are generated in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Skin Treatment (Pharmacies) market in Central & Western Europe is experiencing significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Skin Treatment (Pharmacies) market in Central & Western Europe are shifting towards natural and organic products. Customers are becoming more conscious about the ingredients used in skincare products and are opting for products that are free from harmful chemicals and artificial additives. This preference for natural and organic skincare products is driving the demand for such products in the market. Trends in the market include the rising popularity of anti-aging skincare products. With an aging population in Central & Western Europe, there is a growing demand for skincare products that target the signs of aging, such as wrinkles and fine lines. Additionally, there is an increasing awareness about the importance of sun protection, leading to a higher demand for sunscreen and sunblock products. Local special circumstances in Central & Western Europe also contribute to the development of the Skin Treatment (Pharmacies) market. The region has a well-established healthcare system, which includes a strong network of pharmacies. Pharmacies in Central & Western Europe are trusted sources of skincare products, and customers often seek advice from pharmacists when purchasing skincare products. This trust and accessibility of pharmacies contribute to the growth of the market. Underlying macroeconomic factors, such as increasing disposable income and improving living standards, also play a role in the development of the Skin Treatment (Pharmacies) market in Central & Western Europe. As people have more disposable income, they are willing to spend more on skincare products to maintain their appearance and overall well-being. Additionally, with improving living standards, there is a growing emphasis on self-care and personal grooming, which further drives the demand for skincare products. In conclusion, the Skin Treatment (Pharmacies) market in Central & Western Europe is developing due to changing customer preferences towards natural and organic products, emerging trends in anti-aging skincare and sun protection, local special circumstances such as the trust and accessibility of pharmacies, and underlying macroeconomic factors such as increasing disposable income and improving living standards.

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.