Dermocosmetics Market Forecast and CAGR
According to the latest research by Fact.MR., the Dermocosmetics market is set to witness steady growth during 2021-2031. Demand for Dermocosmetics is highly fragmented and will witness rapid recovery in the short-term, with an optimistic growth outlook in the long run. The rising number of occurrences concerning skin sensitivity and way of life-related skin complaints have increased the interest in dermo-cosmetic products in recent times.
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What is Driving Demand for Dermocosmetics?
Several factors are driving the market and creating lucrative opportunities. The predominance of skin diseases, for example, photoaging is rising because of exposure to ultraviolet (UV) radiation and pollution, leading to sunburns, and decreased skin elasticity is a major driving factor.
Moreover, the rising amount of youth population and increasing awareness about the advantages of dermo-cosmetic items amongst this age group are expected to boost the interest all through the forecast years.
Another significant factor for the increasing popularity of dermo-cosmetic products is developing customer interest in health, wellness and advantage driven products. The long term benefits provided by dermo-cosmetic products are additionally expected to drive the development of this market over the forecast years.
Growing acne problems Likely to Augment Dermocosmetics Sales
Skin diseases are additionally brought about by different factors, like environmental pollution, consumption of tobacco, and excessive alcohol consumption. Melasma, atopic dermatitis, deep wrinkles, freckles, psoriasis, dyspigmentation, hyperpigmentation, and acne are a portion of the basic skin diseases.
Acne is a typical dermatological condition brought about by the clogging of hair follicles by dead skin cells, dirt, and sebum. Acne influences a greater part of the total population and ultimately prompts scarring. As indicated by the American Academy of Dermatology (AAD), roughly 85% of Americans experience acne at some stage in their lives. The rising incidences of such skin problems prompt the rising interest in dermo-cosmetics worldwide.
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The US and Canada Dermocosmetics Market Outlook
The cosmetic industry positions highest among the nanotechnology patent holders in the United States. The consumers in the country have recorded a rising average yearly spending on close to beauty and personal care products throughout the long term which thus is developing the market in the country. Accordingly, the increasing instances of skin problems are a developing concern in the country, which is assessed to expand the US dermo-cosmetics market.
Components, like a rise in awareness of products about the advantages of organics products and services and consumer knowledge, through online platforms and different sources, are adding to the development around there. The dermo-cosmetics market is one of the quickest developing markets in Canada and is overwhelmed by global players. This, thus, is driving the interest in these products.
Europe Demand Outlook for Dermocosmetics
Many countries in the EU have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. However, as is the case in the US and Canada, defence spending in the EU continues to drive demand for Dermocosmetics.
This is attributable to the developing rate of skin diseases and a wide scope of skincare items accessible on the lookout. The major factor for the development of the market in this region is the significant presence of regional players, surging awareness on dermo-cosmetics, growing disposable income, dynamic lifestyle patterns, and improving economic conditions.
Who are the Key Manufacturers and Suppliers of Dermocosmetics?
Some of the leading manufacturers and suppliers of Dermocosmetics include
- Allergan plc
- L’Oreal S.A.
- Procter & Gamble Co.
- Johnson & Johnson
- Jan Marini Skin Research Inc
- Unilever plc
- ZO Skin Health Inc.
- BSN medical GmbH
- La Prairie
- Valeant Pharmaceuticals Inc.
- Revive
- Shiseido Group
- Glo Skin Beauty Bioelements
- Amorepacific Corporation
- PCA Skin
- Others
The major players are associated with collaborations, regional expansions, new product development, and mergers & acquisitions to acquire the most income share in the sector. New product launches and development assist organizations with growing their current geographical reach and product portfolio. Key producers give a broad range of advanced dermocosmetics through their solid distribution channels worldwide. It has brought about extreme competition among producers and prompted high tension on pricing strategies of sellers, which is required to influence the overall revenue.
Key Segments
By Product Type
- Skincare
- Cream
- Serum
- Lotion
- Cleanser
- Gel
- Toner
- Others
- Haircare
- Shampoo
- Conditioner
- Others
By Treatment Type
- Skin
- Anti-ageing
- Skin whitening
- Acne treatment
- Others
- Hair
- Anti-dandruff
- Anti-hair fall
- Hair repair
- Others
By Distribution Channel
- Pharmacy and Retail Store
- Online
By End-User
- Clinics, Medical Spas, and Salons
- Hospitals
- At-Home
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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