|Status : Published||Published On : Sep, 2021||Report Code : VRHC1214||Industry : Healthcare||Available Format :||Page : 254|
The global dermacosmetics market was valued at USD 56.0 billion in 2020 and is expected to grow at a CAGR of 6.2% during the forecast period (2021–2027). The market is growing due to extensive number of conferences and seminars, increasing pervasiveness of skin diseases and extensive consciousness among citizens towards appearance. Furthermore, increasing demand and knowledge amongst women for genuine effective products have further nurtured the development and made dermacosmetics products largely available to the consumers.
Dermatology meets cosmetic is the basic premise of dermacosmetics line that comprises of latest medical findings amalgamated with high quality ingredients to provide unique products in skin care range. Dermacosmetics are medically inspired and are considered to be very effective, offer products catering to various other skin needs and are considered to efficient and skin tolerant in nature. These wide ranges of benefits are thereby strengthening the growth of global dermacosmetics market.
Insight by Product
On the basis of product, the global dermacosmetics market is categorised into haircare and skincare. Amongst these segments, the market for skincare products is anticipated to generate larger revenue due to increasing number patients suffering from skin diseases.
Insight by Treatment
Based upon treatment, the global dermacosmetics market is segmented into hair and skin. Amongst these segments, skin treatment is anticipated to generate larger revenue due to awareness and accessibility of wide range of skincare products.
Insight by End User
Based upon the end user, the global dermacosmetics market is categorised into hospitals, clinics, medical spas, and salons, and at-home. Amongst these segments clinics, medical spas, and salons segment is estimated to contribute largest market revenue due to extensive number of skin treatment process undertaken in this segment.
Increasing purchasing power of consumers, extensive prevalence of skin diseases and increasing inclination among citizens towards spending on physical appearance are the key factors that are driving the growth of global dermacosmetics market. In the present scenario, consumers have increased understanding of their skin pertaining to its reaction to several external stresses such as pollution and sunlight. Consumers are much aware about the way how skin ages, wrinkles appear, skin conditions develop and how skin loses its firmness as a result to which dermacosmetics market are witnessing rapid growth globally.
Stringent government policies regarding the use of ingredients in dermacosmetics product and development of counterfeiting skincare products are the key factors that are anticipated to hamper the growth of global dermacosmetics market.
Increasing number of dermacosmetics conferences and large number of cases portraying teens growing older at an early age are another factor that is driving the growth of global dermacosmetics market.
Dermacosmetics market in Asia-Pacific is expected to witness highest CAGR during the forecast period owing to evolving lifestyle patterns, improved economic condition, excessive awareness about dermacosmetics, increasing personal disposable income of population and presence of key players in the region are factors driving the growth of dermacosmetics market. Increasing number of patients suffering from skin disorders, personal disposable income on skin treatment are another factor pertaining towards the growth of global dermacosmetics market. Furthermore, personal disposable income spending of citizens of South Korea towards improving their skin texture is further escalating the growth of global dermacosmetics market.
The key player in this market comprises both large as well and small service provides making it a fragmented market structure. Moreover, the eminent key players in the global dermacosmetics market are undertaking mergers and acquisitions and collaborations in order to expand their product portfolio and gaining competitive advantage.
Some of the players having prominent presence in the global dermacosmetics market include Johnson & Johnson, Bausch Health Companies Inc., Galderma S.A., Unilever Group, Procter & Gamble (P&G), L’Oréal S.A., Beiersdorf AG, The Este Lauder Companies Inc., ZO Skin Health Inc., Amorepacific Corporation, Sebapharma GmbH & Co. KG, Dermtek Pharma Inc., Phyto Botanical Power, Zorah Biocosmetiques, Shiseido Co. Ltd., BCG Badan-Badan Cosmetics Group Gmbh, Dr. med. Christine Schrammek Kosmetik GmbH & Co. KG, Uriage Dermatological Laboratories, Youth Lab Dermacosmetics, Physicians Care Alliance LLC, Nuxe Laboratory, Pierre Fabre S.A., Kanebo Cosmetics Inc., and Allergan plc.
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end-user surveys comprising of consumers are also conducted to understand consumer behaviour.
Source: VynZ Research
Source: VynZ Research