Global Industry Analysts Predicts the World Medicated Skin Care Products Market to Reach  Billion by 2026

Global Industry Analysts Predicts the World Medicated Skin Care Products Market to Reach $8 Billion by 2026

SAN FRANCISCO, July 4, 2022 /PRNewswire/ — 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.

Global Industry Analysts Predicts the World Medicated Skin Care Products Market to Reach $8 Billion by 2026

Global Industry Analysts Predicts the World Medicated Skin Care Products Market to Reach $8 Billion by 2026

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Edition: 18; Released: June 2022
Executive Pool: 16459
Companies: 251 – Players covered include Advanced Dermatology and Cosmetic Surgery; Bayer AG; Beiersdorf AG; Curatio Healthcare India Pvt. Ltd.; Dr. med. Christine Schrammek Kosmetik GmbH & Co. KG; EltaMD, Inc.; Episciences, Inc.; Galderma S.A.; GlaxoSmithKline Plc; 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 Cosmeceuticals LLC; Otsuka Pharmaceutical Co., Ltd.; PCA Skin; Prestige Consumer Healthcare Inc.; RéVive Skincare; Shiseido Co., Ltd.; SkinCeuticals; SkinMedica, Inc.; Skinvisible Pharmaceuticals, Inc.; Sonoma Pharmaceuticals, Inc.; Stiefel Laboratories, Inc.; The Himalaya Drug Company; Unilever NV; Vivier Pharma; ZO® Skin Health Inc. and Others.
Coverage: All major geographies and key segments
Segments: Type (Cleansers, Toners, Scrubs & Masks, Serums, Moisturizers); Distribution Channel (Offline, Online)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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Amid the COVID-19 crisis, the global market for Medicated Skin Care Products estimated at US$7 Billion in the year 2022, is projected to reach a revised size of US$8 Billion by 2026, growing at a CAGR of 2.7% over the analysis period 2020-2027. Cleansers, one of the segments analyzed in the report, is projected to grow at a 2.5% CAGR, while growth in the Toners segment is readjusted to a revised 2.3% CAGR. The recent COVID-19 pandemic has brought health and wellness to the forefront of consumers’ minds. Rather than simply relying on highlighter and primers for achieving a healthy glow, users are now increasingly exploring various different active ingredients that can help them in rejuvenating their skin in a more meaningful way. Given the increased awareness about the ingredients used in skincare products among consumers, there are certain trends that are expected to dominate the skincare space in 2022 and beyond. One of these trends includes the rising demand for anti-inflammatory skincare products.

Consumers are becoming more aware of inflammatory skin conditions and their impact on causing skin dysfunctions and hampering overall health. This has led consumers to transition away from acid peels or Retin-A treatments to an anti-inflammatory skincare lifestyle and routine that is better for the skin as well as the overall health. Another latest trend in skincare is skinimalism, a concept involving the use of a minimalistic approach and simpler skincare routines in place of complicated skincare products that involve chemical-filled products. Skinimalism is likely to be a major trend in 2022 and beyond as users start realizing that applying less skincare products, along with keeping their skin protected and hydrated, can prove to be much better for their skin than using several different products. The pandemic led millions of people to stay and work from home for prolonged periods of time. With many spending a considerable amount of time in lockdown with all salons closed, at-home skincare treatments and devices started gaining widespread popularity and would continue to remain a popular trend in the coming years. Consumers are now increasingly turning to products, such as chemical and hydrating peel-like masks, face masks, and overnight rejuvenating treatments, which they can easily apply at home and achieve the same results as in professional settings. The demand for sunscreen is expected to continue in 2022, with many now recognizing the vital use of this product, several beauticians, aestheticians, and doctors increasingly recommending and emphasizing on sunscreen being an essential skincare treatment to their patients.

Another important trend that is likely to play out in 2022 is the inside outside approach to skincare. People need to have greater awareness and understanding about their kin type. Most consumers end up buying latest skincare products without taking into consideration their skin issues or type, and what actually is required by their skin. In the coming years, people are expected to start moving towards minimizing their skincare routines mainly to the essentials. In addition, people would start embracing more bespoke skincare treatment plans for targeting their individual requirements. One ingredient that is likely to gain traction is Japanese indigo, a plant extract known for its anti-inflammatory and healing properties and its benefits in treating skin conditions, such as rosacea and eczema. This ingredient is expected to be available in more and more skincare products in the near future. Moreover, users are increasingly focusing on barrier repair and support the microbiome of the skin, along with the requirement for supporting and balancing the skin’s bacteria. This would lead to the increased use of essential fatty acids and ceramides in the skincare products, as well as collagen-boosting amino acids, and next-generation, gentler cleansing enzymes, which provide a gentle and thorough exfoliation.

Another trend that is likely to take centerstage in 2022 is the rise in skincare products that support and boost ATP (skin cell energy) without involving traditional trauma, such as controlled damage for triggering repair. This would significantly reduce the occurrence of inflammation, allowing new home care and professional skincare products to be able to activate cell energy and rejuvenate the skin without damage. In recent years, there has been an increased availability of next-generation super skin machines. Some of the popular ones include radiofrequency microneedling treatments and high-intensity focused ultrasound (HIFU) lifting machines for improving skin texture and reducing wrinkles and scarring. Combination of these machines with proven and more established lasers for brightening, pigmentation, and veins would provide an effective rejuvenation option wanting to look age gracefully and look visibly fresher and healthier.

With people beginning to wear less makeup, there would be an increased awareness among consumers about their skin condition. During the pandemic, people have started focusing more intently on their skin, recognizing that it can be a strong indicator of their overall health and wellbeing. The pandemic has significantly changed people’s perspectives and they are placing greater emphasis on taking care of their skin in various different ways, which would bring forth the importance of self-care as part of skin care routines. People are now even more focused on their overall skin health rather than just its superficial appearance, driving a trend towards achieving naturally-glowing, strong, and resilient skin, which is expected to remain an important area of focus in the coming years. The COVID-19 pandemic has also highlighted the importance of personal safety and hygiene, which is expected to be reflected in skincare products. People are now placing higher emphasis on the product’s hygiene, pushing skincare brands to develop packaging that reduces the risk of contamination. There has also been an increased inclination among beauty consumers to opt for science-driven brands. In 2022 and beyond, more and more customers are expected to choose skincare brands that offer medical-grade skincare products backed by strong clinical trials and scientific evidence.

Sustainability is another important trend that skincare brands would need to start focusing on more aggressively as consumers become more sensitive about environmental issues. Consumers are increasingly looking for products that can be recycled, have refillable packaging options, and use ethically-sourced ingredients. In the coming years, sustainability would play a major role in ascertaining the consumers’ buying pattern when it comes to skincare products. Rather than seeking out those products that only deliver near-term results, consumers would focus on products that provide them broader protection, not only against UV rays, but also pollution, smog, smoke, blue light, as well as bacteria, viruses, and germs. This would change the consumers’ focus to look for anti-microbial products, antioxidant serums, blue light protection treatments, as well as specialized sunscreens. More

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Zak Ali
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Global Industry Analysts, Inc.
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