Key regions: Canada, United States, France, Europe, United Kingdom
The Skin Treatment (Pharmacies) market in NAFTA has been experiencing steady growth over the past few years. Customer preferences have shifted towards natural and organic products, driving the demand for skincare products in pharmacies. Additionally, the rising awareness about the importance of skincare and the availability of a wide range of products in pharmacies have contributed to the growth of the market.
Customer preferences: Customers in the NAFTA region have become more conscious about the ingredients used in skincare products. They are increasingly opting for natural and organic products that are free from harmful chemicals. This shift in preference is driven by the growing awareness about the potential negative effects of synthetic ingredients on the skin. As a result, pharmacies are focusing on stocking skincare products that are formulated with natural and organic ingredients to cater to this demand.
Trends in the market: One of the major trends in the Skin Treatment (Pharmacies) market in NAFTA is the increasing popularity of anti-aging skincare products. The aging population in the region has led to a higher demand for products that help reduce the signs of aging, such as wrinkles and fine lines. Pharmacies are offering a wide range of anti-aging skincare products, including serums, creams, and masks, to meet this demand. Another trend in the market is the growing popularity of multi-functional skincare products. Customers are looking for products that offer multiple benefits, such as moisturizing, brightening, and protecting the skin from UV damage. Pharmacies are stocking products that cater to these needs, offering convenience to customers who prefer to purchase all their skincare products in one place.
Local special circumstances: In the United States, the Skin Treatment (Pharmacies) market is highly competitive, with a large number of pharmacies and beauty retailers offering skincare products. This has led to a focus on innovation and differentiation in product offerings. Pharmacies are introducing exclusive lines of skincare products and partnering with dermatologists to offer specialized skincare consultations, adding value to the customer experience. In Canada, the market is influenced by the preference for natural and organic products. Customers are willing to pay a premium for products that are free from harsh chemicals and are environmentally friendly. Pharmacies are catering to this demand by stocking a wide range of natural and organic skincare brands.
Underlying macroeconomic factors: The growing disposable income in the NAFTA region has played a significant role in the growth of the Skin Treatment (Pharmacies) market. With higher disposable income, customers are willing to spend more on skincare products and are seeking high-quality products that deliver visible results. Pharmacies are capitalizing on this trend by offering premium skincare brands that cater to the needs of affluent customers. Furthermore, the increasing urbanization and changing lifestyles in the region have also contributed to the growth of the market. Urban consumers are more exposed to environmental pollutants and stressful lifestyles, leading to an increased need for skincare products. Pharmacies are capitalizing on this trend by offering a wide range of skincare products that address specific skin concerns, such as pollution protection and stress relief. In conclusion, the Skin Treatment (Pharmacies) market in NAFTA is experiencing growth due to customer preferences for natural and organic products, the popularity of anti-aging skincare products, and the demand for multi-functional skincare products. Pharmacies are adapting to these trends by stocking a wide range of products and offering value-added services. The underlying macroeconomic factors, such as growing disposable income and changing lifestyles, have also contributed to the growth of the market.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
