With Market Size Valued at $7.7 Billion by 2026, it`s a Healthy Outlook for the Global Medicated Skin Care Products Market
SAN FRANCISCO, Sept. 15, 2021 -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Medicated Skin Care Products - Global Market Trajectory & Analytics." The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 16; Released: September 2021
Executive Pool: 16459
Companies: 117 - Players covered include Advanced Dermatology Corp.; Bayer AG; Beiersdorf AG; Chattem Inc.; EltaMD Inc.; Episciences Inc.; Galderma S.A.; GlaxoSmithKline Plc; IntraDerma™ Pharmaceuticals; Johnson & Johnson; Kao Corporation; La Prairie Group AG; Laboratorios Leti SL; L'Oréal S.A.; Medimetriks Pharmaceuticals Inc.; Merz Pharma GmbH & Co. KGaA; NEOCUTIS; Obagi Medical Products Inc.; Otsuka Pharmaceutical Co. Ltd.; PCA Skin; Pfizer Inc.; Shiseido Co. Ltd.; SkinCeuticals; SkinMedica Inc.; Skinvisible Pharmaceuticals Inc.; Stiefel Laboratories Inc.; Taisho Pharmaceuticals Co. Ltd.; The Himalaya Drug Company; Unilever NV; Valeant Pharmaceuticals International Inc.; Vivier Pharma; ZO® Skin Health Inc. and Others.
Coverage: All major geographies and key segments
Segments: Segment (Medicated Skin Care Products)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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ABSTRACT-
Global Medicated Skin Care Products Market to Reach US$7.7 Billion by the Year 2026
Medicated skin care products contain active ingredients that treat common skin ailments. Medicated skin care products range from simple over-the-counter topical creams to products that require a physician prescription. These products are used to cure skin diseases such as rosacea, acne, eczema, psoriasis, and suchlike. The medicated lip care market is showing renewed growth, supported by innovative ingredients and combinations, increased emphasis on youthful look, growing awareness of adverse effects of sunrays on skin, and an increasing popularity of these products amongst men. Innovative packaging and differentiation is providing a much-needed fillip to the market. Growth in the global market is driven by the rising prevalence and incidence of several skin conditions, and the need for products that maintains, nourishes and enhances and/or prevents, treats and corrects the skin.
Growing demand for better preventative and maintenance healthcare; aging population and their vulnerability to skin changes; and popularity of aesthetic and corrective care among the young, middle aged and the old offer significant potential for medicated skin care products in the coming years. Other important growth drivers include heightened focus on patient care that would result in creation of new ideas in the field of skincare; growing prominence of personalized skin care; increasing awareness about adverse effects of sunrays on skin; rising popularity of medicated skin care products among men; insufficient sleep and vitamin/minerals deficient diets resulting in various skin related issues; and steady launch of safe, effective, and high-efficacy products with innovative ingredients, combinations, and product packaging, among others. Amid the COVID-19 crisis, the global market for Medicated Skin Care Products estimated at US$6.6 Billion in the year 2020, is projected to reach a revised size of US$7.7 Billion by 2026, growing at a CAGR of 2.7% over the analysis period.
The U.S. Market is Estimated at $2.4 Billion in 2021, While China is Forecast to Reach $887.1 Million by 2026
The Medicated Skin Care Products market in the U.S. is estimated at US$2.4 Billion in the year 2021. The country currently accounts for a 35.63% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$887.1 Million in the year 2026 trailing a CAGR of 4.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.9% and 2.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.1% CAGR while Rest of European market (as defined in the study) will reach US$918.2 Million by the end of the analysis period. The US is a key market and growth is driven by the growing number of working and aging women, which are the primary buyers of medicated skin care products. Additional factor fueling growth includes availability of natural and organic skin care that offer enhanced performance. Growth in Europe is driven by the rising incidence of various skin conditions and affinity towards affordability as well as minimally-invasive products. Rising incidence of various skin related disorders and diseases, growing elderly population, and an expanding middle class resulting in increase in affordability are all factors supporting demand for medicated skin care skin care products in Asia-Pacific. More
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