The global dermacosmetics market was valued at USD 53.0 billion in 2018. The market is growing due to extensive number of conferences and seminars, increasing pervasiveness of skin diseases and extensive consciousness among citizens towards appearance. Furthermore, increasing demand and knowledge amongst women for genuine effective products have further nurtured the development and made dermacosmetics products largely available to the consumers.
Growth Driver
Increasing purchasing power of consumers, extensive prevalence of skin diseases and increasing inclination among citizens towards spending on physical appearance are the key factors that are driving the growth of global dermacosmetics market. In the present scenario, consumers have increased understanding of their skin pertaining to its reaction to several external stresses such as pollution and sunlight. Consumers are much aware about the way how skin ages, wrinkles appear, skin conditions develop and how skin loses its firmness as a result to which dermacosmetics market are witnessing rapid growth globally.
Geography Insight
Dermacosmetics market in Asia-Pacific is expected to witness highest CAGR during the forecast period owing to evolving lifestyle patterns, improved economic condition, excessive awareness about dermacosmetics, increasing personal disposable income of population and presence of key players in the region are factors driving the growth of dermacosmetics market. Increasing number of patients suffering from skin disorders, personal disposable income on skin treatment are another factor pertaining towards the growth of global dermacosmetics market. Furthermore, personal disposable income spending of citizens of South Korea towards improving their skin texture is further escalating the growth of global dermacosmetics market.
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Competitive Insight
The key player in this market comprises both large as well and small service provides making it a fragmented market structure. Moreover, the eminent key players in the global dermacosmetics market are undertaking mergers and acquisitions and collaborations in order to expand their product portfolio and gaining competitive advantage.
Some of the players having prominent presence in the global dermacosmetics market include Johnson & Johnson, Bausch Health Companies Inc., Galderma S.A., Unilever Group, Procter & Gamble (P&G), L’Oréal S.A., Beiersdorf AG, The Este Lauder Companies Inc., ZO Skin Health Inc., Amorepacific Corporation, Sebapharma GmbH & Co. KG, Dermtek Pharma Inc., Phyto Botanical Power, Zorah Biocosmetiques, Shiseido Co. Ltd., BCG Badan-Badan Cosmetics Group Gmbh, Dr. med. Christine Schrammek Kosmetik GmbH & Co. KG, Uriage Dermatological Laboratories, Youth Lab Dermacosmetics, Physicians Care Alliance LLC, Nuxe Laboratory, Pierre Fabre S.A., Kanebo Cosmetics Inc., and Allergan plc.
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