Key regions: Canada, United States, France, Europe, United Kingdom
The Skin Treatment (Pharmacies) market in Montenegro 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 Montenegro have shifted towards a greater focus on skincare and overall wellness. Consumers are becoming more aware of the importance of taking care of their skin and are seeking out skincare products that address specific concerns such as acne, aging, and hyperpigmentation. This increased demand for skin treatments has led to a surge in the availability and variety of skincare products in pharmacies across the country. Trends in the market have also played a role in the growth of the Skin Treatment (Pharmacies) market in Montenegro. One notable trend is the rise of natural and organic skincare products. Consumers are increasingly seeking out products that are free from harsh chemicals and artificial ingredients, opting instead for products that are made from natural and organic ingredients. This trend aligns with the global movement towards clean beauty and sustainable living. Another trend in the market is the increasing popularity of multi-step skincare routines. Influenced by Korean beauty trends, Montenegrin consumers are adopting more elaborate skincare rituals that involve multiple products and steps. This trend has led to an increase in the sales of skincare products such as cleansers, toners, serums, and moisturizers. Local special circumstances in Montenegro have also contributed to the growth of the Skin Treatment (Pharmacies) market. The country's tourism industry has been booming in recent years, attracting visitors from around the world. Tourists often purchase skincare products as souvenirs or to address specific skincare concerns caused by travel. This influx of tourists has created a larger customer base for pharmacies, driving the demand for skin treatments. Underlying macroeconomic factors have also played a role in the development of the Skin Treatment (Pharmacies) market in Montenegro. The country's economy has been steadily growing, leading to an increase in disposable income. As consumers have more money to spend, they are more willing to invest in skincare products and treatments. Additionally, Montenegro's integration into the European Union has opened up new opportunities for international trade, allowing for a wider range of skincare products to be imported and sold in pharmacies. In conclusion, the Skin Treatment (Pharmacies) market in Montenegro has been growing due to shifting customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As consumers become more conscious of skincare and overall wellness, the demand for skin treatments continues to rise. The market is expected to continue expanding as Montenegro's economy grows and the country attracts more tourists.
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.
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