Dermacosmetics Market To Advance At Cagr Of 6.5% During 2019–2024

By Author: Pramod Kumar
Total Articles: 97
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One of the prime factors propelling the demand for dermacosmetics is the rising prevalence of skin diseases, primarily photoaging, because of the increasing exposure to ultraviolet (UV) radiation and pollution. Other factors such as tobacco consumption, environmental pollution, and exorbitant consumption of alcohol also lead to several dermatological diseases. Thus, the growing incidence of skin problems, such as acne, dyspigmentation, melasma, freckles, hyperpigmentation, psoriasis, atopic dermatitis, and deep wrinkles, will enhance the dermacosmetics market prospects during the forecast period.

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Due to the growing prevalence of the aforementioned ailments, the awareness about skincare has increased significantly. Customers are investing a substantial amount in cosmetic and dermacosmetic products, such as anti-aging creams, skin-whitening serums, and skin-tightening lotions. This rising expenditure on a comprehensive hair and skincare regime to manage acne, brighten the skin, and reduce the signs of ...
... aging is adding to the growth of the market. Thus, the growing focus on appearance is favoring the dermacosmetics market currently, and it will continue to do so in the coming years.

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The categories under the end user segment of the dermacosmetics market include at-home; hospitals; and clinics, medical spas, and salons. Among these, the clinics, medical spas, and salons category accounted for the largest share in the market during the historical period of 2014–2018. This can be attributed to the increasing demand for skin treatment procedures worldwide. To deal with skin diseases and improve their appearance, customers are opting for several skincare regimes that can be easily availed of at clinics, medical spas, and salons at reasonable prices.

As for the future of the worldwide dermacosmetics market, the Asia-Pacific region is expected to showcase the highest growth rate during the forecast period. This can be ascribed to the growing awareness regarding dermacosmetics, rising cases of skin disorders, increasing expenditure on skin treatment, changing lifestyle patterns, surging personal spending, and improving economic conditions. Reports by the Organisation for Economic Cooperation and Development (OECD) state that the personal expenditure in countries such as Japan and South Korea has increased significantly in recent years.

Therefore, the large pockets of customers and growing awareness about skincare and dermatological diseases are adding substantially to the market growth.

Pramod has around 7 years of experience in market research and consulting services for healthcare industry. He holds varied experience in market sizing and forecasting with varied models, competition landscape, consumer behavior analysis, opportunity analysis, product/company benchmarking, data mining and others. He has successfully delivered multiple projects on go-to-market strategies, pricing strategy, price point analysis, Business Expansion, market entry and exit, share analysis and others. Prior to joining P&S Intelligence, he worked with different research companies, including Transparency Market Research and MarketsandMarkets Pvt Ltd. Some of the projects delivered by him include Scar Treatment Market, Skin Replacement and Substitutes Market, and Energy-Based Aesthetic Devices Market.