Global Pharma & Cosmetics Market to Surpass USD 2516.42 Billion by 2032, Driven by Rising Disposable Incomes and Self-Care Trend

The global Pharma & Cosmetics Market has been growing steadily over the years, with a market size of USD 1768 billion in 2022 and an expected increase to USD 2516.42 billion by 2032, registering a revenue CAGR of 4% during the forecast period. One of the primary factors driving market revenue growth is the rising disposable income and changing consumer preferences, leading to an increased demand for cosmetics and pharmaceutical items. The expanding trend of self-care and personal grooming has also resulted in an increase in demand for cosmetics and skincare products. Furthermore, the increasing awareness of health and wellbeing has contributed to the growing demand for pharmaceutical items as consumers look to improve their general health.

The demand for natural and organic cosmetics is increasing as consumers become more aware of the substances used in their skincare products. Similarly, the rising prevalence of skin diseases and disorders such as eczema, psoriasis, and acne is driving the need for pharmaceutical items, including topical creams, ointments, and gels. Additionally, the aging population is driving the demand for anti-aging and anti-wrinkle products, while the focus on wellness and healthy living is driving the demand for vitamins and dietary supplements.

Get Free Sample PDF (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.reportsanddata.com/download-free-sample/6402

Some of the major companies in the Pharma & Cosmetics Market:

• Johnson & Johnson
• Pfizer Inc.
• Novartis International AG
• Roche Holding AG
• Sanofi
• GlaxoSmithKline plc
• AbbVie Inc.
• Amgen Inc.
• Procter & Gamble
• L'Oreal S.A.

Government rules and initiatives have also contributed to the growth of the pharmaceutical and cosmetics markets. However, the high cost of research and development, strict regulatory environment, and increasing competition from new entrants are major factors restraining market revenue growth. Additionally, the market faces challenges with transportation and logistics systems, as well as the rising cost of raw materials. Nonetheless, the pharma & cosmetics market revenue growth is expanding due to the rising demand for generic medications.

In conclusion, the global pharma and cosmetics market is on a growth trajectory driven by several factors, including changing consumer preferences, rising awareness of health and wellbeing, and government initiatives. However, the market also faces challenges that must be addressed to sustain this growth, including high research and development costs, strict regulations, and increasing competition.

Segments Covered in the Report:

The global beauty industry is expected to grow significantly over the forecast period from 2019 to 2032. In terms of product type, the industry can be segmented into medications, skincare, haircare, makeup, and others. The medications segment is expected to witness significant growth during the forecast period. The growing demand for anti-aging and anti-acne products is expected to drive the demand for medications in the beauty industry.

Skincare and haircare are also expected to witness significant growth during the forecast period. The growing awareness about the benefits of using natural and organic products is expected to drive the demand for skincare and haircare products. Additionally, the increasing demand for personal care products among the millennial population is expected to fuel the growth of these segments.

Access Full Report Description with Research Methodology and Table of Contents @ https://www.reportsanddata.com/report-detail/pharma-cosmetics-market

The makeup segment is expected to witness steady growth during the forecast period. The increasing demand for color cosmetics and the growing popularity of social media influencers are expected to drive the demand for makeup products. In terms of end-use outlook, the global beauty industry can be segmented into retail, online, and others. The retail segment is expected to witness significant growth during the forecast period. The increasing number of specialty stores and hypermarkets is expected to drive the growth of the retail segment.

The online segment is also expected to witness significant growth during the forecast period. The growing popularity of e-commerce platforms and the increasing availability of beauty products online are expected to drive the growth of the online segment. Additionally, the convenience of shopping online and the availability of a wide range of products are expected to fuel the growth of the online segment.

Other end-use segments such as salons, spas, and beauty clinics are also expected to witness growth during the forecast period. The growing demand for professional beauty services and the increasing number of beauty clinics and spas are expected to drive the growth of these segments.

Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/6402

Strategic development:

• Throughout 2020 and 2021, various companies in the pharmaceutical and cosmetics industries made strategic developments to expand their product offerings and strengthen their research and development capabilities. Johnson & Johnson acquired Momenta Pharmaceuticals, a biotechnology company specializing in treatments for immune-mediated diseases, for approximately USD 6.5 billion to broaden its autoimmune disease market product offerings.

• Pfizer Inc. acquired Amplyx Pharmaceuticals, a biopharmaceutical company specializing in antifungal therapies, to expand its antifungal therapy portfolio for life-threatening infections. Roche Holding AG acquired Stratos Genomics, a biotechnology company developing sequencing technologies, to enhance Roche's genomics research capabilities.

• Sanofi acquired Principia Biopharma, a biotechnology company specializing in autoimmune and allergic diseases, for around USD 3.7 billion to strengthen Sanofi's research and development capabilities in the autoimmune and allergic disease market. L'Oreal S.A. acquired Thayers Natural Remedies, a natural skincare and cosmetics brand, to expand L'Oreal's portfolio of natural skincare and cosmetics products.

• In addition to these acquisitions, various companies also announced the launch of new products in 2020 and 2021. Johnson & Johnson launched its new COVID-19 vaccine, Janssen, which uses a viral vector technology to protect against COVID-19 with a single dose. Pfizer Inc. launched Talzenna, a new breast cancer treatment that uses a PARP inhibitor to prevent cancer cells from repairing themselves, leading to cell death.

• Novartis launched Zolgensma, a new gene therapy used to treat Spinal Muscular Atrophy (SMA), a rare genetic disease that affects muscle strength and movement in infants and young children. Roche launched Elecsys Anti-SARS-CoV-2, a new diagnostic test used to detect antibodies against the SARS-CoV-2 virus that causes COVID-19. Lastly, L'Oreal launched Revitalift Derm Intensives, a new skincare product that contains 1.5% pure hyaluronic acid, which helps to hydrate and plump the skin.

Browse More Reports:

Active Pharmaceutical Ingredients (API) Market - https://www.reportsanddata.com/report-detail/active-pharmaceutical-ingredients-api-market

Travelers Vaccines Market - https://www.reportsanddata.com/report-detail/travelers-vaccines-market

Medical Stethoscopes Market - https://www.reportsanddata.com/report-detail/medical-stethoscopes-market

Human Growth Hormone Market - https://www.reportsanddata.com/report-detail/human-growth-hormone-hgh-market

Colorectal Cancer (CRC) Treatment Market - https://www.reportsanddata.com/report-detail/colorectal-cancer-market

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Contact Us:

John W
Head of Business Development
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Reports and Data | Web: www.reportsanddata.com
Check our upcoming research reports @ https://www.reportsanddata.com/upcoming-reports
Visit our blog for more industry updates @ https://www.reportsanddata.com/blogs

This release was published on openPR.