The global skincare market is fast growing and expansive, ranging from cosmetic products, to over-the-counter drugs, to prescription drugs. The global dermatology market is vast and evolving quickly with forecasts that indicate a global market of €81.9 billion in 2028, growing significantly from €44.1 billion in 2018. The cosmetic skincare market size was valued at €130 billion in 2016.
The cosmetic skincare market is dominated by key multinational corporations including Olay, Avon, and L’Oréal, which provide a vast array of over-the-counter products in the beauty and skincare industry. The global dermatology market focuses on a combination of OTC and prescription products, which treat acne, psoriasis, alopecia, skin infections, skin cancer, rosacea, and atopic dermatitis.
The global market faces both industry wide and market specific drivers and restraints: patent expiration, variable drug pipeline, emerging markets, and emergence of biologics. Patent expiration will guide us, as in other pharma markets, towards which drugs could fail to offer previous returns. Studying research and development pipelines in the dermatology sub-sectors gives readers a guide into how a particular market will evolve over the next decade.
Market Analysis of the leading personal care brands worldwide in 2028:
- Global cosmetics manufacturers will have to differentiate their products to adjust them to the expectations of their new customers, originating from non-Western cultures
- Cosmetic Dermatology is the segment with the biggest growth potential
- The cosmetic products will increase the market in the next few years
- The deciding factor for market success will be upon cosmetics sales
- Growing awareness of mass cosmetics will facilitate the growth of the market
- New product launches are increasing upon advanced research and technologies. There is a growing demand for organic products, herbal product