The Global Market for Physician-Dispensed Cosmeceuticals is Projected to Reach US$1.6 Billion by 2020

Confidence in Physician’s Valuable Expertise & Knowledge Drives Growth in the Physician-Dispensed Cosmeceuticals Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Physician-Dispensed Cosmeceuticals market. The global market for Physician-Dispensed Cosmeceuticals is projected to reach US$1.6 billion by 2020, driven by the failure of several non-prescription cosmetic products to meet consumer needs, and the resulting greater confidence in physician recommended products.

Globally, demand for physician-dispensed cosmeceuticals is rising, driven by the ineffectiveness of non-prescription cosmetic products. As a result, there is greater confidence in products recommended by physicians, given their ability to yield improved results. Skin care products that are dispensed by physicians target the root of skin problems to provide complete and long-term benefits. These products generally include active ingredients at higher concentrations as compared to the products available OTC or in the mass market, thereby making them highly effective. Other major factors driving growth in the market include increasing number of dispensing physicians, rapid Internet penetration & increasing use of e-Commerce as a marketing channel to promote sales, and growing consumer awareness over the effectiveness of products dispensed by experienced physicians. Physicians, apart from dispensing in-office, are also offering the products online, thus ensuring easy access to and availability of prescribed products.

Physician dispensed skin-care products is the largest segment, accounting for about three-fourth share of the global market in 2015. The growth in this market is expected to be driven by growing per capita spends on appearance maintenance products, and rise in surgical procedures While the aging population remains the primary driver for appearance-enhancing & age-defying skin cosmeceuticals, increased adoption of anti-aging skin care products by younger consumers is also fuelling growth to a large extent. Owing to their ability to inhibit skin pigmentation, skin brighteners and lighteners are increasingly being used. Consumer preferences are shifting towards cosmeceuticals that are paraben-free, hypoallergenic, fragrance-free, natural, and backed by human clinical testing. The growing demand for surgical treatments, such as light and laser procedures is expected to spur adoption of post-procedure cosmeceutical products.

As stated by the new market research report on Physician-Dispensed Cosmeceuticals, the United States represents the largest market worldwide. Product discounting, especially due to sales through the online channel, and market saturation are likely to pose hurdles for higher gains in the market. Asia-Pacific is forecast to register the fastest growth with a CAGR of 9.8% over the analysis period, led by growing population, increasing affluence of the growing base of middle class population, increasing healthcare spending, and falling confidence in unorganized cosmetic retailing practices.   

Major players covered in the report include Allergan Plc, SkinMedica Inc., Athena Cosmetics Inc., Biopelle Inc., iS Clinical, Jan Marini Skin Research Inc., Neutrogena Corporation, Obagi Medical Products Inc., Pacific Bioscience Laboratories Inc., SkinCeuticals, and Stiefel Laboratories Inc., among others.

The research report titled “Physician-Dispensed Cosmeceuticals: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections in US$ Thousand for all major geographic markets such as US, Canada, Japan, Europe, Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico and Rest of Latin America) and Rest of World. Key segments analyzed include Physician-dispensed Eyelash Products and Physician-dispensed Skin Care Products.

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