Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - Portugal

Portugal

Revenue in the Skin Treatment market is projected to reach US$52.77m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.33%, resulting in a market volume of US$65.22m by 2029.
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$5.16 are generated in 2024.

Key regions: Germany, Europe, South Korea, France, China

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Analyst Opinion

The Skin Treatment (Pharmacies) market in Portugal has been experiencing steady growth in recent years.

Customer preferences: Customers in Portugal have shown a growing interest in skin treatment products available at pharmacies. They are increasingly seeking out products that are effective in addressing a wide range of skin conditions, such as acne, dryness, and aging. Customers are also looking for products that are made with natural ingredients and are free from harsh chemicals. Furthermore, there is a growing demand for products that are suitable for sensitive skin types.

Trends in the market: One of the key trends in the Skin Treatment (Pharmacies) market in Portugal is the increasing popularity of organic and natural skincare products. Customers are becoming more conscious about the ingredients used in their skincare products and are actively seeking out products that are free from harmful chemicals. This trend is in line with the global shift towards natural and organic skincare products. Another trend in the market is the growing demand for anti-aging products. Portugal has an aging population, and as people age, there is an increased focus on maintaining youthful and healthy-looking skin. Customers are willing to invest in high-quality anti-aging products that can help reduce the appearance of wrinkles and fine lines.

Local special circumstances: Portugal is known for its sunny climate, which means that customers in the country are particularly concerned about protecting their skin from the harmful effects of the sun. This has led to a high demand for sunscreen and sun protection products. Customers are looking for products that offer high levels of sun protection while also being lightweight and non-greasy.

Underlying macroeconomic factors: The growing demand for skin treatment products in Portugal can be attributed to several underlying macroeconomic factors. Firstly, there has been an increase in disposable income among consumers, allowing them to spend more on skincare products. Additionally, the beauty and personal care industry as a whole has been growing in Portugal, with more consumers investing in self-care and wellness products. This has created a favorable environment for the growth of the Skin Treatment (Pharmacies) market. In conclusion, the Skin Treatment (Pharmacies) market in Portugal is experiencing growth due to customer preferences for natural and organic skincare products, increasing demand for anti-aging products, and the need for sun protection in the sunny climate. These trends are supported by underlying macroeconomic factors such as rising disposable income and the overall growth of the beauty and personal care industry.

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.