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Greeks are spending 210 million euro per year to look younger

28 March 2010 / 21:03:51  GRReporter
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More and more Greeks are now using cosmetic products which are aimed at keeping them healthy and young looking. This trend is related to the fast rhythm of living and with the desire for a long life which provoke them to buy the respective medicines and cosmetic products, the so called life style.

According to the specialists more people at the age between 50 and 60 will strive to look as if they were 40 years old. However an important role for the expansion of the market of this type of cosmetic and pharmaceutical products plays the way of living of the people which is full of stress.

The market of the products which make you look younger has a profit of about 90 million euro annually. If we include the food supplements and the products against premature aging which are sold in the pharmacies the annual amount of the turnover increases to 210 million euro in spite of the decrease which is registered in certain categories of products caused by the fact that some of the medicines are not covered by the insurances.

The progress on the Greek market is directly linked to the general trend of the people advanced in years – men and women, according to which they have to feel and look younger. In this line of thoughts the products related to botox register a remarkable rhythm of the increase of the sales. Last year the Greeks and Greek women have spent 20 – 25 million on wrinkles removal using botox, which means a 30% - 40% increase in sales compared to the previous year. Botox and Injectable fillers are on demand in the market. Less invasive and non surgical tretaments are factors for considering this.

Men spend more and more money on medicines which help their erection. The well known Viagra, however also cialis and levitra, which as a whole have a very low percentage share on the Greek market of medicines, have registered a profit of 32 million euro for the past year according to IMS Health Hellas. We are talking about a market which has become ten times wider compared to the year 2000, which means that in spite of the fact that the expenses for these medicines are not covered by the insurances, this has not influenced the demand, and it is even increasing according to experts on the market.

An important share of the market of life style products have the food supplements where the turnover reaches 76 million euro for the last year and the sales of rejuvenating products in the pharmacies are about 40,6 million euro. In 2010 the world wide market of rejuvenating products is expected to reach a turnover of 300 billion dollars.

Opportunities for growth also has the market of products against tobacco smoking which however in 2009 has remained at the same level as it was in the previous year – about 376 000 packs have been sold which brings a profit of 4,6 million euro. However according to representatives of a pharmaceutical company the sales are expected to increase if the ministry of health care decides to tighten the law which bans smoking in public places. One way or another the visitations in the doctors’ offices by patients who wish to stop smoking has increased by 80% after July 1st, 2009.

The sales of the medicines against gaining weight are also expected to increase in the next few years as the overweight is one of the biggest problems of the European countries and in the past few years the number of overweight people has become three times bigger.

Tags: health botox rejuvenating cosmetics viagra
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