Medicated Skin Care Products Market Size Worth USD 8093.03 million, Globally, By 2028 At 2.5% CAGR.

The latest market report published by Credence Research Inc. is “Global Medicated Skin Care Products Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The global medicated skin care products market generated revenue of around USD 6978.6 million in 2021 and is anticipated to grow a CAGR of over 2.5% during the forecast period from 2022 to 2028 to reach around USD 8093.03 million in 2028.
Medicated skin care products improve the appearance of or treat conditions like acne, scars, and pimples. These products also address skin conditions like dermatitis, dry skin, psoriasis, and eczema. It contains cleansers, moisturizers for the face and body, and hand sanitizers. The medicated skincare market is experiencing renewed growth, fueled by innovative ingredients and combinations, a greater emphasis on youthful appearance, growing awareness of the negative effects of sun rays on skin, and rising popularity among men. Innovative packaging and differentiation are offering a much-needed boost to the market. The rising prevalence and incidence of several skin conditions and the demand for products that maintain, nourish, enhance, prevent, treat, and correct the skin are driving growth in the global market. The aging population and its susceptibility to skin changes, the rapidly increasing demand for better preventative and maintenance healthcare, and the popularity of corrective and aesthetic care among the young and middle-aged population provide significant market opportunities for medicated skin care products in the upcoming years. However, the high cost of certain medicated skin care products and the presence of low-quality skin care products on the market may limit the growth of global medicated skin care products.
The global medicated skin care products market is bifurcated into ingredient type, product type, application, distribution channel, and geography. Based on the ingredient type, the market is categorized into surfactants, emulsifiers, emollients, rheology modifiers, and conditioning polymers. Based on product type, the market is divided into cleaners, toners, scrubs & masks, serums, moisturizers, eye creams, sun protection factor (SPF), and others. Based on application, the global market is segmented into acne, anti-aging, brightening, sensitive skin, dry skin, combination skin, oily skin, enlarged pores, and others. Based on the distribution channel, the market is categorized into hospital pharmacies, retail pharmacies, hypermarkets & supermarkets, online pharmacies, and beauty clinics. The market is categorized geographically into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
North America dominated the global medicated skin care products market in 2021, accounting for a significant market revenue share due to rising skincare issues among adults, rapidly increasing skin consciousness among millennials, a strong presence of medical companies, and growing regional healthcare expenditure. Increasing initiatives to raise awareness about the importance of living a healthy lifestyle also drive the regional medicated skin care products market growth.
Unilever is the second-largest player in the market, with a market share of around 25%. It makes a wide range of medicated skin care products, including face wash, moisturizers and sunscreens. Its main competitors are P&G and J&J. Unilever has an advantage over P&G in terms of its pricing power and wider product range.
Procter & Gamble is the smallest player in the market but has been growing rapidly over recent years. It makes a limited range of medicated skin care products, mainly cream formulations intended for use on the face. Its main competitor is J&J. Procter & Gamble has a significant advantage over J&J in terms of its marketing capabilities and distribution channels.
Why to Buy This Report –
• The report examines the global medicated skin care products market by segment, current trends, drivers, restraints, opportunities, challenges, and market dynamics from 2016 to 2020, with 2021 as the base year and 2022-2028 as the forecast period.
• The report describes the competitive environment in the market, including how major players operate at the national, regional, and international levels.
• In-depth analysis of the global medicated skin care products market segmentation by ingredient type, product type, application, and distribution channel.
• The report includes comprehensive and authentic data for all factors, including CAGR, consumer purchasing trends, supply and demand, and import/export statistics for major regional countries.
• The medicated skin care products market report includes global, regional, and country-level market analysis, key market trends, major players analysis, market growth strategies, and key application areas.
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