The Global Market for Medicated Skin Care Products is Projected to Reach $8.0 Billion by 2022

Growing Prevalence of Skin Diseases and Unmet Treatment Needs Drive the Global Medicated Skin Care Products 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 Medicated Skin Care Products market. The global market for Medicated Skin Care Products is projected to reach $8.0 billion by 2022, driven by the rising prevalence and incidence of several skin conditions, and the need for products that maintain, protect, nourish, and enhance skin health and correct skin ailments.

Medicated skin care products range from simple over-the-counter topical creams to products that require a physician prescription for the prevention and treatment of skin conditions. Skin diseases and disorders represent the non-fatal medical conditions caused by pollution, hereditary factors, aging, and hormonal imbalance. Health loss due to various skin conditions are increasing disease-associated global burden and creating a huge need for prevention and cure of skin diseases. Rising prevalence and incidence of several skin conditions such as rosacea, acne, eczema, psoriasis, dry skin or xerosis, and pigment disorders, among others, is attributable to the changing lifestyles, unhealthy eating habits, growing exposure to sunrays, increasing pollution levels, growing use of chemicals on skin, and rapidly aging population with compromised immune system. Despite the rising popularity of surgical procedures, many consumers continue to prefer cosmeceuticals (cosmetic pharmaceuticals) that impart on-par results representing the key factor driving demand for medicated skin care products in developed as well as developing countries.

Healthy growth is projected for the market in the coming years driven by increasing incidence of skin disorders and the accompanying functional health loss and psychological impact on affected people. Eczema largely affects children; while acne puts a huge burden on teenagers and a combination of various skin diseases such as eczema, non-melanoma skin cancer, ulceration, and pruritus affects the elderly. 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.

As stated by the new market research report on Medicated Skin Care Products, the United States and Europe represent the largest markets worldwide. The ever increasing drive towards maintaining good skin health against the backdrop of expanding aging population, interest in non-surgical treatments, availability of natural and organic skin care, rising incidence of various skin conditions, and affinity towards affordability as well as minimally-invasive products, among others, represent key growth drivers in these developed markets. Asia-Pacific represents the fastest growing market with a CAGR of 5.6% over the analysis period led by increasing urbanization, rising health consciousness, unpenetrated and underpenetrated nature of the market, and rising disposable incomes of the fast expanding middle class population that are seeking better dermatological care.

Key players in the market include Advanced Dermatology Corp., Bayer AG, Beiersdorf AG, Chattem Inc., Curatio Healthcare India, Dr. med. Christine Schrammek Kosmetik GmbH & Co. KG, EltaMD Inc., Episciences Inc., Galderma S.A., GlaxoSmithKline Plc, IntraDerm™ 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., Prestige Brands, RéVive Skincare, 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, and ZO® Skin Health Inc. among others.

The research report titled “Medicated Skin Care Products: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, regulations, mergers, acquisitions, and other strategic industry activities of major players worldwide. The single segment report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World.

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