Dermacosmetics Market is estimated to progress revenue worth US$ 25.7 Bn by the end of 2032 – Persistence Market Research
Market Study on Dermacosmetics: Product Sales through e-Commerce Pharmacies to Remain High
New York, Sept. 26, 2022 (GLOBE NEWSWIRE) -- The global dermacosmetics market was worth US$ 17.5 Bn in 2021 and is expected to increase at a CAGR of 3.5% over the forecast period (2022-2032). Key players operating in the dermacosmetics market are developing products targeted at particular ambiguous skin health issues, and this trend is anticipated to continue throughout the decade.
The mantra now making the rounds in the cosmetic industry is 'prevention over cure'. Dermacosmetics have developed as a replacement and addition to medical opinion. Customers' awareness of the long-term harm caused by environmental factors such as pollution, sunlight, and antibacterial chemicals is rising, which is causing a significant rise in the demand for dermacosmetics that can prevent damage. Dermacosmetic products are different from other generic skincare products and provide high-quality and efficient skin remedies. Some advantages of dermacosmetic products over over-the-counter (OTC) skincare products are higher quality ingredients, more potent & advanced ingredients, and better delivery of ingredients.
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The utilization of organic components in dermacosmetics, including olive oil, green tea, oatmeal, acai berry, mulberry, pomegranate, and coffee berry, is projected to create new commercial opportunities. Manufacturing companies have begun utilizing cutting-edge techniques to increase the sales of their cosmetics by introducing new products with more natural ingredients and appealing packaging because cosmetics contain chemical compounds that can numerous negative side effects on the skin.
Furthermore, significant companies in the market, such as Occulus Innovative Science, Inc. and CCA Industries, Inc., are utilizing a variety of e-Commerce marketing strategies to promote their products, particularly topical products. e-Commerce companies provide their topical products at reduced prices, either through coupons or by offering similar product choices. This strategy has been a key role in the growing and regular use of dermacosmetic products by end users, helping companies expand their market footprints across the world.
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Key Takeaways from Market Study
Skin care treatment held 25% market share in 2021.
Scar & acne indications accounted for more than 24% market share in 2021.
By distribution channel, e-Commerce pharmacies generate high revenues, and the segment held a market share of 29.7% in 2021.
Around 31.2% of the global market share, by region, was accounted for by Europe in 2021.
“Rising focus on innovative dermacosmetic products and increasing demand for better treatment options due to rising prevalence of various forms of skin disorders will drive market growth over the coming years,” says an analyst of Persistence Market Research.
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Market Competition
Leading players are focused on innovative product launches and partnerships to meet customer demand and expand the product portfolios.
Some of the key strategies adopted by industry players in the dermacosmetics market are:
In March 2022, Galderma announced that its 'Twyneo' Cream, the first-ever tretinoin and benzoyl peroxide combination to treat face acne, would be available in the United States (AAD) at the American Academy of Dermatology.
In January 2022, L'Oréal and Verily partnered strategically to enhance skin health. To better understand and describe skin and hair aging mechanisms and to guide L'Oréal's precision beauty tech strategy and consumer product development, the agreement is anticipated to involve two programs.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the dermacosmetics market in its latest study, presenting a historical demand assessment of 2012 – 2021 and projections for 2022 – 2032.
The research study is based on the treatment (skincare, hair care, anti-aging, hygiene, sun care, cosmetics, facial care, others), indication (dry skin, atopic skin eczema, hyperpigmentation, scar & acne, psoriasis, deep wrinkles, others), and distribution channel (hospital pharmacies, retail pharmacies, e-Commerce stores, hypermarkets & supermarkets, specialty clinics), across seven key regions of the world.
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