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Coronavirus Impact on Dermacosmetics Market Growth, Trends and Competitive Landscape | P&S Intelligence
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Attributed to these reasons, the development of dermacosmetics has been made possible. These products are crucial now in the branch of dermatology as they combine cosmetics and scientific techniques for the management of a variety of diseases. Dermacosmetics are applied topically to different regions of the body for enhancing the patient's quality of life, self-esteem, and mitigating the harmful effects of some treatments , which is why their demand is increasing rapidly. As per a P&S Intelligence report, in 2018, the global dermacosmetics market reached a value of $52.5 billion and is predicted to generate a revenue of $76.3 billion in 2024, progressing at a 6.5% CAGR during the forecast period (2019-2024).
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Dermacosmetics can be procured via online and pharmacy and retail store distribution channels. Pharmacy and retail stored are predicted to make larger sales of these products in the near future because of the availability of an extensive range of over-the-counter dermacosmetic products in these stores. The major end users of different dermacosmetic products are hospitals, salons, medicals spas, and clinics, and at-home. Clinics, medical spas, and salons are projected to make the most use of these products in the years to come as a number of skin treatment procedures are performed at these facilities.
Hence, the demand for dermacosmetics is growing due to the surging prevalence of skin diseases and technological advancements.
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