Market Insights Health OTC Pharmaceuticals

Skin Treatment - Australia

Australia

In Australia, the revenue generated in the Skin Treatment market market in 2024 is estimated to be €0.63bn.
It is projected that the market will experience an annual growth rate of 6.67% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, with a total of €3,880.00m in 2024.
Considering the population figures, the per person revenue in Australia is €23.57 in 2024.
Australia is experiencing a rising trend in natural and organic skincare products, reflecting a growing consumer preference for sustainable and ethically sourced skin treatment options in the OTC Pharmaceuticals market.

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

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Analyst Opinion

The Skin Treatment market in Australia has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Customers in Australia are increasingly focused on skincare and are willing to invest in high-quality products and treatments. This is driven by a growing awareness of the importance of skincare and the desire to maintain a youthful and healthy appearance. The demand for skin treatments such as facials, chemical peels, and laser therapy has increased as customers seek to address specific skin concerns and achieve desired results. Additionally, there is a growing interest in natural and organic skincare products, as customers become more conscious of the ingredients they are applying to their skin.

Trends in the market: One of the key trends in the Australian skin treatment market is the rise of non-invasive and minimally invasive procedures. Customers are increasingly opting for treatments that require little to no downtime and offer natural-looking results. This includes treatments such as microdermabrasion, dermal fillers, and non-surgical facelifts. The popularity of these procedures can be attributed to their effectiveness, affordability, and convenience.Another trend in the market is the increasing popularity of personalized skincare. Customers are seeking tailored solutions that address their specific skin concerns and needs. This has led to the rise of customized skincare products and treatments, as well as the use of advanced technologies such as DNA testing and skin analysis devices. Personalized skincare allows customers to achieve optimal results and enhances their overall skincare experience.

Local special circumstances: Australia's climate and outdoor lifestyle contribute to the unique skincare needs of its population. The country's high levels of UV radiation and harsh environmental conditions have led to a greater emphasis on sun protection and anti-aging skincare. Customers are looking for products and treatments that offer UV protection, hydration, and skin rejuvenation. This has created a demand for skincare products with SPF, antioxidants, and anti-aging ingredients.

Underlying macroeconomic factors: Australia's strong economy and high disposable income levels have played a role in the growth of the skin treatment market. Customers have more purchasing power and are willing to spend on premium skincare products and treatments. Additionally, the aging population in Australia has contributed to the demand for anti-aging skincare solutions. As the population continues to age, the demand for skin treatments that target wrinkles, sagging skin, and age spots is expected to increase.In conclusion, the Skin Treatment market in Australia is driven by changing customer preferences, including a focus on skincare, personalized solutions, and non-invasive procedures. The unique local circumstances, such as the climate and outdoor lifestyle, also contribute to the market's growth. Furthermore, Australia's strong economy and aging population play a role in the increasing demand for skincare products and treatments.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.