Market Insights Health OTC Pharmaceuticals

Skin Treatment - India

India

In India, the revenue in the Skin Treatment market market is projected to reach €0.75bn in 2024.
It is anticipated that the market will experience an annual growth rate of 9.86% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, amounting to €3,880.00m in 2024.
In terms of per person revenues, in India generates €0.52 in 2024.
India has seen a surge in demand for natural and Ayurvedic skin treatment products in the OTC Pharmaceuticals market.

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

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Comparación de regiones

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Analyst Opinion

The Skin Treatment market in India has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.Customer preferences in the Skin Treatment market in India have shifted towards natural and organic products. Consumers are becoming more conscious about the ingredients used in skincare products and are opting for products that are free from harmful chemicals and additives. This preference for natural and organic products is in line with the global trend of increasing demand for clean beauty products. Additionally, there is a growing awareness among Indian consumers about the importance of skincare and the benefits of using specialized treatments for various skin concerns.Trends in the Skin Treatment market in India include the rise of online beauty platforms and the increasing popularity of dermatologist-recommended skincare products. Online beauty platforms have made it easier for consumers to access a wide range of skincare products and treatments, including those recommended by dermatologists. This trend has contributed to the growth of the market by making skincare products more accessible to a larger consumer base. Furthermore, the demand for dermatologist-recommended skincare products has increased as consumers seek expert advice for their specific skin concerns.Local special circumstances in India, such as the country's diverse climate and cultural practices, have also influenced the development of the Skin Treatment market. India experiences a wide range of climatic conditions, from extreme heat to cold winters, which can have a significant impact on the skin. As a result, there is a demand for skincare products that cater to these specific climatic conditions. Additionally, cultural practices such as traditional Ayurvedic skincare rituals have gained popularity among Indian consumers, leading to the development of skincare products that incorporate Ayurvedic ingredients and techniques.Underlying macroeconomic factors, such as the rising disposable income and increasing urbanization in India, have contributed to the growth of the Skin Treatment market. As the Indian middle class expands and more people move to urban areas, there is a greater willingness to spend on skincare products and treatments. The increasing urbanization also leads to higher exposure to pollution and environmental factors, creating a need for skincare products that protect and repair the skin.In conclusion, the Skin Treatment market in India is developing due to changing customer preferences towards natural and organic products, emerging trends in the market such as online beauty platforms and dermatologist-recommended skincare, local special circumstances including diverse climate and cultural practices, and underlying macroeconomic factors such as rising disposable income and increasing urbanization. These factors have created a favorable environment for the growth of the Skin Treatment market in India.

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.