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Editing: 17; Published: February 2022
Executive Pool: 761
Companies: 91 – Players covered include Allergan Plc; Athena Cosmetics, Inc.; Biopelle, Inc.; Clinical Laboratories, LLC; Emerson Ecologics, LLC; IS CLINICAL; Jan Marini Skin Research, Inc.; La Roche-Posay Pharmaceutical Laboratory; Neutrogena Corp.; Obagi Medical Products, Inc.; SkinCeuticals; SkinMedica, Inc.; Solta Medical, Inc.; Stiefel Laboratories, Inc.; ZO® Skin Health, Inc. and others.
Blanket: All major geographies and key segments
segments: Type of product (skin care, hair care, eye care, Botox injection, other types of products); Distribution channel (hospital pharmacies, retail pharmacies, other distribution channels)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.
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Global Physician Dispensed Cosmetics Market to Reach $24.9 billion by 2026
The term “doctor dispensed cosmeceuticals” refers to cosmeceuticals that are sold in clinics or medical offices. Physician dispensed cosmeceuticals can be used alone or in combination with other aesthetic procedures or treatments. The global doctor dispensed cosmeceuticals market is witnessing steady growth primarily driven by increasing demand from patients with high aesthetic awareness. Despite the increasing and easy availability of professional skin care products, customers show a preference for cosmeceuticals sold by the doctor’s office, as they are believed to offer better results. Patients also express greater confidence in using products prescribed by their physicians, especially given the explosion of options available on the mass market that are difficult to compare or differentiate. The market is also sensitive to the economic environment, with financial downturns having a negative impact on the market for cosmeceuticals dispensed by doctors.
Amid COVID-19 crisis, Global Physician Dispensed Cosmetics Market Estimated at US$17.3 billion in 2022, is expected to reach a revised size of US$24.9 billion by 2026, growing at a CAGR of 8.5% over the analysis period. Skincare, one of the segments analyzed in the report, is expected to grow at a CAGR of 9.5% to reach 12 billion US dollars at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, Hair Care segment growth is readjusted to a revised CAGR of 8.2% for the next 7-year period. This segment currently accounts for a 23.3% share of the global physician dispensed cosmetics market. Skin care products account for a significant share of the global doctor dispensed cosmetics market. Doctor-delivered skincare products are designed to target the root cause of various skin conditions, ensuring long-lasting, comprehensive benefits. These products usually contain high concentrations of active ingredients, compared to over-the-counter or mass-produced products, thus playing a vital role in improving their overall effectiveness. Demand for medical-branded skincare products in aesthetic medical practices is growing rapidly, driven by growing interest in specialty products that meet the specific needs of clients opting for cosmetic procedures.
The US market is estimated at $6.5 billion in 2022, when China is expected to reach $1.9 billion by 2026
The Physician-Dispensed Cosmetics Market in the United States is estimated at US$6.5 billion in 2022. The country currently accounts for a 37.66% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$1.9 billion in 2026 with a CAGR of 10.7% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 7.2% and 7.7% respectively over the analysis period. In Europe, Germany is expected to grow around 7.9% CAGR while the rest of the European market (as defined in the study) will reach US$2.1 billion at the end of the analysis period.
The market is fueled by the ineffectiveness of non-prescription cosmetics in meeting consumer needs and the promise of better results offered by prescription products. Patients trust doctor-recommended products more because of their ability to improve the appearance of skin. Driven by the growing level of consumer confidence in doctor-prescribed products, the market for doctor-dispensed cosmeceuticals is expected to show steady growth in the coming years. Growing consumer demand for effective, high-quality products to promote both health and beauty is driving physicians to prescribe cosmeceuticals to provide support for overall skin health and prevent signs of aging. Shifting consumer preferences, highly stressful consumer lives, rising pollution levels and subsequent damage to people’s skin, hair and eyes are driving the growth of the global physician dispensed cosmeceuticals market . Rising awareness of maintaining physical appearance among the expanding elderly population globally and changing attitudes of the geriatric and middle-aged population in developing economies present significant opportunities for the cosmeceuticals market issued by doctors. Rising awareness of new skin conditions attributed to pollution and climate change and rising demand for branded cosmeceuticals owing to their improved efficacy and safety levels are expected to drive the growth of the global doctor dispensed cosmeceuticals market. Companies are increasingly investing in research and development initiatives to create new products and stay competitive. Going forward, product premiumization is expected to drive overall sales. Another factor that should bring significant improvement in sales is the continued increase in the number of dispensing physicians each year. In addition, deepening internet penetration and increasing use of internet and e-commerce as a marketing channel are expected to boost future sales.
Eye care segment to reach $4.3 billion by 2026
This segment includes prescription drops, artificial tears and other eye care products. The segment covers eye care products aimed at strengthening and stimulating the regrowth of eyelashes. In the global Eye Care segment, United States, Canada, Japan, China and Europe will drive the CAGR of 7.6% estimated for this segment. These regional markets representing a combined market size of US$2.1 billion will reach a projected size of US$3.5 billion at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$434.5 million by 2026, while Latin America will grow at a CAGR of 8.7% over the analysis period. Continued
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