Medicated Skincare Market

Market Study on Medicated Skincare: Substantial Demand Growth for Personalized Skincare Products Expected

Report ID: PMRREP33466

Number of Pages: 335

Format: PPT*, PDF, EXCEL

Industry: Healthcare

Published Date: May-2024

Report Price

$4900*

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Market Outlook (2024 to 2033)

The global medicated skincare market expanded at 5.7% CAGR and reached a size of US$ 36.7 billion in 2024. The market is predicted to grow at a CAGR of 8% to reach a valuation of US$ 84.2 billion by the end of 2033.

  • According to Persistence Market Research, pharmaceutical-grade skincare product sales reached 23.8 billion in 2022.
  • Medicated skincare product sales accounted for 23.5% revenue share of the global skincare market in 2022.

Acne is a common skin condition affecting a significant portion of the population globally, particularly during adolescence and early adulthood. It is characterized by the presence of blackheads, pimples, whiteheads, and other types of skin lesions. Prevalence of acne can vary among different demographics and geographical regions.

  • According to recent data from the American Academy of Dermatology, acne is a prevalent condition, affecting more than 75% of individuals aged 10 to 30 worldwide. In the United States, approximately 60 million people experience acne vulgaris.
  • Acne is considered one of the top five most economically burdensome skin diseases in the country. Individuals with acne commonly seek self-treatment or prescription medications. The American Academy of Dermatology (AAD) reports that 90% of those who seek professional assistance observe a 40% to 50% improvement within a minimum of three months.
  • Acne on the face affects 99% of all cases, followed by acne on the back (60% of cases) and acne on the chest (15% of cases).
  • Acne primarily affects women (80%) and fewer men (20%). Skin diseases like acne drive up demand for skin treatments.

Skincare products for acne are a major segment within the broader skincare industry. People affected by acne often seek over-the-counter (OTC) or prescription products specifically formulated to treat and manage acne. These products typically include cleansers, creams, gels, lotions, spot treatments, and other formulations containing active ingredients such as salicylic acid, benzoyl peroxide, retinoids, or antibiotics.

Attribute Key Insights

Medicated Skincare Market Size (2024)

US$ 39.1 Billion

Projected Market Value (2033)

US$ 84.2 Billion

Global Market Growth Rate (2024 to 2033)

8% CAGR

Market Share of Top 5 Countries (2023)

52.3%

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What are the Factors Driving Medicated Skincare Market Growth?

Increasing Prevalence of Skin Disorders Worldwide Boosting Demand for Medicated Skincare Products

The prevalence of skin problems such as melasma has increased worldwide. Melasma can be defined as acquired hyperpigmentation of the skin and occurs for several reasons, including genetic predisposition, ultraviolet radiation, hormonal factors, and medications.

Topical therapies and minimally invasive surgeries are becoming increasingly popular in the treatment of melasma worldwide. Because the surgeries are expensive, more and more people are opting for topical therapies to treat hyperpigmentation.

Topical therapies include physician-prescribed or over-the-counter medications, including various cosmetic products, creams, lotions, gels, serums, and other topical therapies. The increasing prevalence of melasma around the world is prompting women to opt for topical therapies to treat their skin conditions.

Apart from the U.S., the adoption of skin-lightening products with active ingredients like hyaluronic acid and niacinamide has also shown an increasing penetration in Africa. Improved lifestyles and a rise in the middle-class consumer group in Africa are driving market growth in the region.

  • According to the World Health Organization (WHO), 77% of Nigerians use skin-lightening products daily.

In the United States, a large portion of the population, especially youngsters, suffers from various forms of skin disorders such as acne vulgaris, psoriasis, vitiligo, shingles, and chickenpox. These disorders leave scars on recovery and affect the appearance and self-confidence of youngsters and other age groups.

  • According to the American Academy of Dermatology, acne affects 50 to 60 million people in the U.S. each year, 65% to 70% of whom develop scars and opt for prescription treatment.
  • The American Academy of Dermatology estimates that 7.5 million people in the U.S. currently suffer from psoriasis. The most common form of psoriasis is plaque psoriasis, which affects 80% to 90% of psoriasis patients in the United States.

The disease is characterized by patches of raised, reddish skin covered with silvery-white scales. Rising prevalence of various skin disorders necessitates the development of effective treatment options, which will propel the growth of the market.

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What Can Decrease Usage of Medicated Skincare Products?

“High Cost and Side-effects Associated with Medicated Skincare Products”

Medicated skincare products are subject to strict regulations regarding product formulation, labeling, and marketing claims. Compliance with these regulations can be challenging and time-consuming for manufacturers, acting as a restraint for market growth.

Some medicated skincare products, particularly those containing active ingredients like retinoids or hydroquinone, may cause side effects or allergic reactions in certain individuals. This can create apprehension among consumers and impact market growth.

Medicated skincare products, especially those developed with advanced formulations and active ingredients, tend to be more expensive compared to regular skincare products. The higher price point can limit the adoption of these products, particularly for price-sensitive consumers.

Rising popularity of natural and organic skincare products poses a challenge to the demand for medicated skincare products. Consumers are increasingly inclined toward products with natural ingredients, which may offer similar benefits without the perceived risk of adverse effects associated with medicated skincare.

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Country-wise Insights

Why is the United States a Key Market for Manufacturers of Medicated Skincare Products?

“Higher Consumer Willingness to Invest in Medicated Skincare Products”

The U.S. accounted for 94.5% share of the North American medicated skincare market in 2022.

Skin disorders such as acne, eczema, psoriasis, and rosacea are prevalent in the United States. Rising incidence of these conditions has created a higher demand for medicated skincare products that can effectively address these specific concerns. There has been a shift in consumer behavior towards prioritizing skincare and investing in products that promote healthier skin. The increased awareness about skincare routines, self-care practices, and the desire for an improved appearance has driven the demand for medicated skincare products.

How is Demand for Medicated Skincare Products Faring in China?

“Manufacturers’ Rising Focus on Developing Nanotechnology-driven Skin Treatments”

China held 56.5% share of the East Asia market for medicated skincare solutions in 2022.

Chinese consumers are drawn to innovative skincare solutions and advanced treatment modalities. Products that incorporate scientific advancements, such as nanotechnology, targeted delivery systems, and innovative active ingredients, are gaining popularity in the Chinese market.

e-Commerce platforms, particularly in China, have transformed the way consumers purchase skincare products. Online marketplaces and social media platforms play a crucial role in promoting and selling medicated skincare products, with influencers and key opinion leaders (KOLs) shaping consumer preferences.

What is the Demand Outlook for Medicated Skincare Products in Germany?

“Expanding Aging Population Leading to High Demand for Medicated Skincare Products to Reduce Wrinkles and Fine Lines”

Germany accounted for 26.8% of the Western European market share in 2022.

Germany has a significant aging population, which has led to a growing demand for anti-aging skincare products. Medicated skincare products targeting wrinkles, fine lines, and age-related skin concerns are gaining popularity among consumers looking to maintain youthful-looking skin.

Awareness of sensitive skin issues is rising in Germany. Many consumers are seeking medicated skincare products that are gentle, hypoallergenic, and suitable for sensitive skin types. This trend has led to the development of specialized products formulated to address sensitive skin concerns. Personalized skincare solutions are gaining popularity in Germany. Consumers are looking for medicated skincare products that can be tailored to their specific skin concerns and needs. This includes products with customizable formulations or those that can be combined to create personalized skincare routines.

Category-wise Insights

Which Medicate Skincare Product Accounts for High Consumption?

“Growing Demand for Pharmaceutical-grade Skincare Products Due to Their High Safety Standards & Efficacy”

The pharmaceutical grade skincare segment contributed US$ 23.8 billion to the global market in 2024.

Pharmaceutical grade skincare products are designed to target specific skin conditions, such as acne, hyperpigmentation, fine lines, and wrinkles. They offer a more specialized approach to skincare, addressing individual concerns with tailored treatments.

Pharmaceutical-grade skincare products are often perceived as safer and more reliable due to their stringent quality control processes and regulatory oversight. Consumers trust that these products undergo rigorous testing and meet high standards of safety and efficacy.

For Which Skin Type are Medicated Skincare Market Products Extensively Used?

“Widespread Utilization of Medicated Products Targeting Oily Skin Due to Their High Effectiveness in Reducing Acne-causing Bacteria”

The oily skin type segment held 34.6% share of the global market in 2022.

Oily skin is more prone to acne and breakouts due to the accumulation of excess oil and the formation of clogged pores. Medicated skincare products, such as cleansers, toners, and spot treatments, are formulated with ingredients like salicylic acid, benzoyl peroxide, or retinoids that target acne-causing bacteria and unclog pores.

Dermatologists, aestheticians, and skincare professionals often recommend medicated skincare products to individuals with oily skin. Their expertise and guidance influence consumer choices and drive the use of these products.

Which Indication Occupies a Leading Share of the Market?

“Increasing Prevalence of Atopic Dermatitis”

Medicated skincare products targeting atopic dermatitis held 11.8% share of the global market in 2024.

Atopic dermatitis is estimated to affect 15% to 20% of children and 1% to 3% of adults globally, according to the Allergy & Asthma Network, 2023. Its prevalence can vary by region, with higher rates observed in developed countries such as the United States, Canada, and Western European nations. The condition is increasingly being recognized as a significant health issue in developing countries as well.

Competition Landscape

There is significant competition within the market for skincare products that contain medication. Companies in this industry are actively working to increase their presence in emerging markets and maintain their relationships with existing distributors. Key strategies employed by leading players in this market include acquisitions and expansion initiatives.

  • Kao established a health testing business in March 2024 using the skin surface lipids-RNA monitoring technology, which tracks RNA isolated from facial sebum collected with oil blotting paper and provides a global analysis.
  • Galderma announced in January 2022 that it has acquired ALASTIN Skincare, a specialty aesthetics company devoted to creating cutting-edge and clinically proven physician-dispensed skincare products, after receiving antitrust clearance from the United States authorities.

Similarly, the team at Persistence Market Research has tracked recent developments related to companies in the medicated skincare market, which are available in the full report.

Medicated Skincare Industry Report Scope

Attribute Details

Forecast Period

2024 to 2033

Historical Data Available for

2019 to 2023

Market Analysis

US$ Billion for Value

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • Benelux
  • India
  • Thailand
  • Philippines
  • Malaysia
  • Vietnam
  • Indonesia
  • Australia & New Zealand
  • Poland
  • Hungary
  • Romania
  • Czech Republic
  • Central Asia
  • Russia & Belarus
  • Balkan & Baltic Countries
  • China
  • Japan
  • South Korea
  • Türkiye
  • GCC Countries
  • Israel
  • North African Countries
  • South Africa

Key Market Segments Covered

  • Product
  • Skin Type
  • Indication
  • Distribution Channel
  • Region

Key Companies Covered

  • L'Oréal
  • GlaxoSmithKline PLC
  • Bausch Health Companies
  • Bayer AG
  • AbbVie Inc. (Allergan, Inc.)
  • Procter & Gamble
  • Johnson & Johnson
  • Galderma Laboratories, L.P.
  • Colgate-Palmolive Company (eltaMD)
  • Kao Corporation
  • KOSE Corporation
  • Jan Marini Skin Research, Inc.
  • Perrigo Company PLC
  • Merz Pharma GmbH & Co. KGaA
  • Unilever PLC
  • Estée Lauder
  • Natura

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Segments of Medicated Skincare Industry

Product:

  • Pharmaceutical Grade Skincare
    • Vitamins
      • Serum
      • Creams
      • Masks
      • Lotions
    • Retinoids
      • Gels
      • Foam
      • Lotions
      • Creams
    • Salicylic Acid
      • Lotions
      • Gels
      • Soaps
      • Shampoo
      • Wash
      • Patches
    • Peptides
    • Growth Factors
    • Skin Disinfectants/Antiseptics
    • Solutions
    • Sprays
    • Skin Barrier Repair Products
  • Prescription(Rx) Skincare
    • Corticosteroids
    • Non-steroidal Drugs
    • Antifungal
    • Antibiotics
    • Immunosuppressants
    • Biologics
    • Others

Skin Type:

  • Normal Skin
  • Dry Skin
  • Oily Skin
  • Combination Skin
  • Sensitive Skin

Indication:

  • Acne
  • Scars
  • Anti-Aging
  • Skin Wrinkles
  • Stretch Marks
  • Freckles & Sun Spots
  • Dark Circles
  • Hyperpigmentation
  • Psoriasis
  • Eczema
  • Atopic Dermatitis
  • Rosacea
  • Melasma
  • Athlete's Foot?
  • Others

Distribution Channel:

  • Dermatology Clinics
  • Beauty & Wellness Centers
  • Medical Spa
  • Retail Pharmacy Chains
  • Drug Stores
  • Hypermarkets & Supermarkets
  • Mono Brand Stores
  • Specialty Stores
  • Online Sales Channels

Region:

  • North America
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Western Europe
  • Eastern Europe
  • Central Asia
  • Russia & Belarus
  • Balkan & Baltic Countries
  • Middle East & Africa

For report customisation and delivery information contact our sales representative.

Companies Covered in This Report

  • L’Oréal
  • Unilever
  • GlaxoSmithKline PLC
  • Bausch Health Companies
  • Bayer AG
  • AbbVie Inc. (Allergan, Inc.)
  • Procter & Gamble
  • Johnson & Johnson
  • Galderma Laboratories, L.P
  • Colgate-Palmolive Company (eltaMD)
  • Kao Corporation
  • KOSE Corporation
  • Jan Marini Skin Research, Inc.
  • Perrigo Company Plc
  • Merz Pharma GmbH & Co. KGaA
  • Unilever PLC
  • Estée Lauder
  • Natura

Frequently Asked Questions

The global medicated skincare market reached a size of US$ 36.7 billion in 2022.

Worldwide demand for medicated skincare products increased at 5.7% CAGR from 2012 to 2022.

The U.S., China, Japan, India, and Germany account for 52.3% market share.

The U.S. accounted for 94.5% share of the North American market in 2022.

China accounted for 56.5% share of the East Asia market in 2022.

Global sales of medicated skincare products are projected to reach US$ 84.2 billion by the end of 2033.

Sales of medicated skincare products are projected to rise at 8% CAGR through 2033.

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