Global Dermatological Products Market to Experience Significant Growth during the Forecast Period 2018-2028|| Market Drivers are Ikeda Mohando Co Ltd, Johnson & Johnson Consumer Ltd, Taisho Pharmaceutical, Bayer AG
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With advancement in biomedical science, manufacturers in dermatological products market are using new technologies such as bioinformatics, biomarkers, nanotechnology, and molecular targeting for medicine discovery. Production of biosimilars is likely to increase in dermatological products market as these drugs have similar active ingredients to biologic medicines and are more cost-effective.
Based on the regulatory approach of biosimilars, increasing number of biosimilar drugs are set to enter Europe and the US in the coming years. Moreover, with increasing prevalence of psoriasis in children across the world, manufacturers in dermatological products market are working towards developing effective biologics for children with psoriasis.
Dermo-Cosmetic Products Emerging as an Effective Solution for Skin Related Complaints
The rise in skin allergies and lifestyle-related skin complaints is resulting in increasing use of dermo-cosmetic products by consumers to treat common skin conditions such as eczema, acne, extreme skin sensitivity, and reactive skin. Majority of the dermo-cosmetics products are developed on a large scale in Western European countries including Italy, France, and Spain.
New dermatological products formulas and developments are also on a rise, for instance, Pierre Fabre has launched sterile cosmetics, industries first sterile skincare line made without preservatives and fragrance. The company used a limited number of ingredients and offers D.E.F.I. (Device for Exclusive Formula Integrity) packaging. The packaging helps to protect formula from oxidation.
In order to gain customer interest, brands in the dermatological products market are working with dermatologists to develop the formulation and also attach dermatologist-recommended claim. Dermatologists recommended brands are witnessing a rise in demand due to consumer belief that these dermatological products are safe and effective.
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Increasing Prevalence of Skin Problems among Children Driving Dermatological Products Demand
Skin diseases constitute a major health problem among children worldwide. Most common skin conditions found in children are skin rashes, diaper dermatitis, atopic dermatitis, acne, and warts. According to the American Academy of Dermatology, nearly 25% of children compared to 2-3% of adults are affected by atopic dermatitis. Hence, manufacturers in dermatological products market are developing over-the-counter medications, as most of the skin problems in children are treatable with these medications.
Eczema is also emerging as a common skin problem among children due to the rise in viruses, bacteria, and fungi. Moisturizers treating eczema are being developed on a large scale. Moreover, diaper rash is the most common problem among babies. This is driving the demand for dermatological products including medicated creams and moisturizers especially developed to treat diaper rash.
Dermatological products manufacturers are also focusing on developing a range of dermatological products that can be used by both children and adults. This can lead to cost-saving for consumers as well as manufacturers. However, the entire focus is on a formulation that should be safe to be used by adults and children at the same time.
Rise in Melanoma Incidences, Accidents, and Surgeries Worldwide Driving Demand in Dermatological Products Market
According to the American Institute of Cancer Research, Melanoma is the 15th most commonly occurring cancer worldwide, nearly 300,000 new cases were registered in 2018. Australia, New Zealand, Norway, Denmark, and the Netherlands accounted for the highest rate of melanoma in 2018. Meanwhile, Melanoma International Foundation states that incidence is rising steadily globally, with one person dying each hour from melanoma.
With the rise in melanoma cases worldwide, the demand for dermatological products including sunscreen and creams have increased. Manufacturers in dermatological products market are also focusing on developing sunscreen products with SPF between 15 and 50 to provide better protection against damaging UV radiation.
Melanoma is less common in dark-skinned people with higher level of melanin, while it occurs easily in fair-skinned people who tan poorly. Hence, to provide protection against UV rays and tanning, manufacturers in dermatological products market have started producing self-tanning lotions, moistures, as well as sunscreens with added self-tan.
Meanwhile, road traffic accidents have increased dramatically worldwide, and if it continues, road traffic injuries are likely to be a third-leading contributor in global injury and diseases by 2020, according to the Population Reference Bureau (PRB). Surgical care is playing an important role in treating a broad spectrum of diseases. Hence, the rise in surgical procedures worldwide is driving the demand for scar treatment products in dermatological products market.
Manufacturers in the dermatological products market are focusing on developing silicon gels and mild skin products that can reduce the appearance of the scars. Moreover, Obesity and sedentary lifestyle are the main causes of stretch marks these days. Rising consciousness among pregnant women highly prone to stretch marks is also driving the demand for various stretch mark products including oil and cream in the dermatological products market worldwide.
The report provides detailed profiles of the leading players in the dermatological products market. The report includes information on the production facilities, market share of each company based on the region. Key developments, key financials, product portfolio, and SWOT analysis are also included in the report on dermatological products market.
Majority of the companies in the dermatological products market are focusing on the research and development activities to develop unique formulations. Mergers and acquisitions are also on a rise in dermatological products market in various regions.
Johnson & Johnson Consumer Ltd. is planning to acquire a Japan-based skin care company, Ci:z Holdings Co. Ltd. The acquisition will provide ownership of some popular brands such as Labo Labo, Genomer, and Dr.Ci:Labo. It will also reinforce Johnson & Johnson’s presence in Japan.
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