Dermocosmetics Market Forecast and CAGR
According to the latest research from Fact.MR., the Dermocosmetics Market is expected to witness steady growth in 2021-2031. Demand for dermocosmetics is very fragmented and will see a rapid recovery in the short term, with optimistic growth prospects in the long term. The increasing number of incidents regarding skin sensitivity and lifestyle related skin conditions have increased the interest in dermo-cosmetic products in recent times.
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What is driving the demand for dermocosmetics?
Several factors are driving the market and creating lucrative opportunities. The prevalence of skin diseases, for example photoaging, increases due to exposure to ultraviolet (UV) rays and pollution, leading to sunburn, and decreased skin elasticity is a factor major determinant.
Moreover, the increasing number of young people and growing awareness of the benefits of dermo-cosmetic items among this age group are expected to drive interest throughout the forecast years.
Another important factor in the growing popularity of dermo-cosmetic products is the development of customer interest in products focused on health, well-being and benefits. The long-term benefits provided by dermo-cosmetic products are further expected to drive the development of this market over the forecast years.
Growing acne problems likely to boost dermocosmetics sales
Skin diseases are further caused by different factors, such as environmental pollution, tobacco consumption and excessive alcohol consumption. Melasma, atopic dermatitis, deep wrinkles, freckles, psoriasis, dyspigmentation, hyperpigmentation and acne are some of the basic skin diseases.
Acne is a typical dermatological condition caused by the clogging of hair follicles by dead skin cells, dirt and sebum. Acne affects a larger portion of the total population and eventually causes scarring. As stated by the American Academy of Dermatology (AAD), approximately 85% of Americans suffer from acne at some point in their lives. The increasing incidence of these skin problems is driving the growing interest in dermo-cosmetics worldwide.
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Outlook for the US and Canadian dermocosmetics market
The cosmetics industry ranks first among holders of nanotechnology patents in the United States. Consumers in the country have witnessed an increase in the average annual expenditure on long-term beauty and personal care products, thus expanding the market in the country. As a result, rising instances of skin problems are a growing concern in the country, which is valued to grow the US dermo-cosmetics market.
Components like increased product awareness of the benefits of organic products and services and consumer knowledge, through online platforms and different sources, add to the development around it. The dermo-cosmetics market is one of the fastest growing markets in Canada and is overwhelmed by global players. So that’s what drives the interest in these products.
Dermocosmetics demand outlook in Europe
Many EU countries have been severely affected by the COVID-19 crisis, which has led to a drop in economic activities. However, as is the case in the United States and Canada, defense spending in the EU continues to drive demand for dermocosmetics.
This is attributed to the development rate of skin diseases and a wide range of accessible skincare items on the prowl. The major factor in the development of the market in this region is the significant presence of regional players, the rise of dermo-cosmetics, the growth of disposable income, the dynamism of lifestyles and the improvement of economic conditions.
Who are the major dermocosmetics manufacturers and suppliers?
Some of the leading dermocosmetics manufacturers and suppliers include
- Allergan AG
- L’Oreal SA
- Procter & Gamble Co.
- Johnson & Johnson
- Jan Marini Skin Research Inc.
- Unilever plc
- ZO Skin Health Inc.
- BSN Medical GmbH
- The Meadow
- Valeant Pharmaceuticals Inc.
- Shiseido Group
- Glo Skin Beauty Bioelements
- Amorepacific Corporation
- PCA skin
Major players are associated with collaborations, regional expansions, new product development, and mergers and acquisitions to gain the largest revenue share in the industry. New product launches and development help organizations increase their current geographic reach and product portfolio. Leading producers offer a wide range of advanced dermocosmetic products through their strong distribution channels worldwide. This has caused extreme competition among producers and caused strong tension on sellers’ pricing strategies, which are necessary to influence overall revenue.
By product type
- Skin care
- Hair care
By type of treatment
- The skin
- skin whitening
- Acne treatment
- Anti dandruff
- Anti hair loss
- hair repair
By distribution channel
- Pharmacy and Retail Store
- In line
Per end user
- Clinics, Medical Spas and Salons
- At home
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa
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