Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - Thailand

Thailand

Revenue in the Skin Treatment market is projected to reach €92.51m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.07%, resulting in a market volume of €136.40m by 2029.
In global comparison, most revenue will be generated in the United States (€3,077.00m in 2024).
In relation to total population figures, per person revenues of €1.29 are generated in 2024.

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

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Región

Comparación de regiones

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Analyst Opinion

The Skin Treatment (Pharmacies) market in Thailand has been experiencing steady growth in recent years. Customer preferences have shifted towards natural and organic products, while trends in the market show a rise in demand for anti-aging and sun protection treatments. Local special circumstances, such as the country's hot and humid climate, contribute to the popularity of these products. Furthermore, underlying macroeconomic factors, such as rising disposable incomes and an increasing focus on personal care, play a significant role in the development of the market. Customer preferences in the Skin Treatment (Pharmacies) market in Thailand have been influenced by a growing awareness of the benefits of natural and organic products. Consumers are becoming more conscious of the ingredients used in their skincare products and are seeking out options that are free from harmful chemicals. This has led to an increase in demand for natural and organic skin treatments, as customers look for products that are gentle on their skin and have minimal environmental impact. Trends in the market indicate a rising demand for anti-aging and sun protection treatments. As the population ages and becomes more aware of the effects of sun exposure on the skin, there is a growing need for products that can address these concerns. Anti-aging treatments, such as serums and creams that target wrinkles and fine lines, are becoming increasingly popular among consumers. Sun protection products, including sunscreen lotions and sprays, are also in high demand as people seek to protect their skin from the harmful effects of the sun. The hot and humid climate in Thailand is a local special circumstance that contributes to the growth of the Skin Treatment (Pharmacies) market. The high temperatures and humidity levels can cause skin issues such as excess oil production and acne. As a result, consumers are more likely to invest in skincare products that can address these specific concerns. Oil-control treatments and acne-fighting products are particularly popular among Thai consumers, who are looking for effective solutions to combat the effects of the climate on their skin. Underlying macroeconomic factors, such as rising disposable incomes and an increasing focus on personal care, are driving the development of the Skin Treatment (Pharmacies) market in Thailand. As the economy continues to grow and more people have disposable income to spend on non-essential items, the demand for skincare products has increased. Additionally, there is a growing emphasis on self-care and personal well-being, with consumers willing to invest in products that can improve their overall appearance and boost their confidence. In conclusion, the Skin Treatment (Pharmacies) market in Thailand is developing in response to customer preferences for natural and organic products, as well as the demand for anti-aging and sun protection treatments. The local special circumstances of the hot and humid climate contribute to the popularity of certain skincare products, while underlying macroeconomic factors such as rising disposable incomes and a focus on personal care drive the growth of the market.

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.