Product ID: SQMIG35I2100
Report ID: SQMIG35I2100 | Region: Global | Published Date: August, 2022 | Pages: 157 | Tables: 64 | Figures: 68
Physician Dispensed Cosmeceuticals Market was valued at USD 8.5 Billion in 2021, and USD 9.16 billion in 2022 and it is expected to reach a value of USD 16.7 Billion by 2030, at a CAGR of 7.8% over the forecast period (2023 - 2030).
Physician-dispensed cosmeceuticals are products that are only available through a medically guided company and are designed to produce true biological effects below the stratum corneum on the skin. Medicated aesthetic goods suggested by dermatologists, trichologists, cosmetic surgeons, and other medical practitioners are described as physician-dispensed cosmeceuticals.
The increased significance of beauty and appearance, as well as expanding knowledge of anti-aging, will drive demand for cosmeceuticals prescribed by doctors. Furthermore, rising consumer awareness of the safety and efficacy of physician-dispensed cosmeceuticals, as well as a growing preference among consumers for a specific solution to different skin problems such as age spot or acne spot reduction, are expected to drive market growth significantly over the forecast period. Government regulation, intense competition, and the larger availability of replacements are some of the significant factors that might limit market growth in the anticipated time.
US Physician Dispensed Cosmeceuticals Market is poised to grow at a sustainable CAGR for the next forecast year.
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The Global Physician Dispensed Cosmeceuticals Market is segmented based on the Product Type, Distribution Channel, and Region. Based on the Product Type, the Global Physician Dispensed Cosmeceuticals Market is segmented as Skin Care, Hair Care, Eye Care, and Other Product Types. Based on the Distribution Channel, the Global Physician Dispensed Cosmeceuticals Market is segmented as Hospital Pharmacies, Retail Pharmacies, and Other Distribution Channels. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Physician Dispensed Cosmeceuticals Market Analysis by Product Type
Since the nature of cosmeceuticals requested by customers is mostly to treat dermatological disorders, the skincare products category accounted for a significant proportion of the worldwide Physician Dispensed Cosmeceuticals Market in 2017. The need for cosmeceuticals to erase the external indications of aging has been fueled by an increase in knowledge about personal upkeep among the senior population and changing views among the middle-aged and geriatric population in emerging nations.
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North America, Europe, Asia Pacific, and the Rest of the World make up the Global Physician Dispensed Cosmeceuticals Market. Over the projected period, the Asia Pacific market is predicted to increase considerably. In the area, there is a growing desire to see long-lasting young appearance and beauty, which is driving the demand for effective physician-dispensed cosmeceuticals. Furthermore, the Asia Pacific market will be driven by leading market players' increasing focus on expansion in Asia Pacific nations, the region's large consumer base, and increased awareness of physician-dispensed cosmeceuticals.
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Physician Dispensed Cosmeceuticals Market Driver
The rise in awareness of personal maintenance
Physician Dispensed Cosmeceuticals Market Restraint
Lack of Knowledge
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The Global Physician Dispenced Cosmeceuticals market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability. Due to the existence of numerous small and major producers, the market is somewhat competitive. Due to increased expenditures in R&D for product innovation and boosting product efficiency by bringing new items into the market, the market rivalry is fierce. Allergan, Merz Pharma, INNOVATIVE SKINCARE, Obagi Cosmeceuticals LLC, SkinCeuticals International, and others are key participants in the industry.
Physician Dispensed Cosmeceuticals Market Top Player's Company Profiles
Physician Dispensed Cosmeceuticals Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Physician Dispensed Cosmeceuticals Market Analysis, the introduction of breakthrough ingredients and products, as well as greater customer willingness to spend on cosmeceuticals, are projected to propel the industry forward in the coming years. The number of physicians prescribing cosmeceuticals to promote beauty and health is also on the rise, which bodes well for industry growth. Consumers are opting for physician-dispensed skin care products after non-prescription skin care treatments failed to deliver the anticipated outcomes. Consumer knowledge of the potential health risks associated with using topical skincare products is prompting consumers to reconsider the kind of personal care items they use.
|Market size value in 2021||USD 8.5 Billion|
|Market size value in 2030||USD 9.16 billion|
|Forecast period||2023 - 2030|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Physician Dispensed Cosmeceuticals Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Physician Dispensed Cosmeceuticals Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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