Dermocosmetics Market, by Product (Skin Care, Hair and scalp Care), by Treatment (Skin, Hair), by Distribution Channel (Pharmacy and Retail Stores, Online), by End-user (Clinics, Medical Spas, and Salons, Hospitals, At-Home) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Dermocosmetics market size was estimated at USD 64.45 billion in 2023 and is projected to reach USD 132.95 billion in 2030 at a CAGR of 10.90% during the forecast period 2023-2030.
Cosmetics and dermatology are two medical streams that have been combined to form dermocosmetics. All cosmetic products that can be applied to the skin or hair and help to solve specific skin problems such as dry skin, oily skin, skin conditions such as acne, pimples, spots, marks and others are called dermacosmetics. The need for cosmetics in skin care is mainly due to the growing awareness of its effectiveness, and technological developments in the field will significantly affect the demand for dermacosmetic products in the coming years.
Consumers are becoming increasingly aware of their appearance, as it enhances their personality. To reduce aging, wrinkles, acne and fine lines, they spend more and more money on skin protection and whitening using various dermocosmetic products. Furthermore, the trend of shopping on e-commerce websites is anticipated to be vital for the performance of the skin care-dermacosmetics market during the forecast period due to the fast-paced lifestyle of the customers and the shift in shopping through the most convenient online channels.
Due to disruptions in import and export, supply chains, and raw material supplies brought on by the COVID-19 pandemic, the majority of manufacturing facilities had to close, delaying the production of numerous dermocosmetic goods. Due to dermocosmetics effectiveness in maintaining a healthy skincare routine during the pandemic, dermocosmetics witnessed a little boost in demand.
The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. Rising pollution and stress are leading to various skin concerns for individuals, which has led major companies to invest in research and development for personalized products, that would address specific issues as per needs of consumer. Various product launches, especially addressing specific skin issues such as hyperpigmentation, sun damage, and anti-aging as well as hair issues such as alopecia areta. These factors have led to the expansion of the market and increased demand for Dermocosmetics solutions.
North America to Dominate the Market