Low-cost, results-oriented formulation proposals attracting potential consumers to the physician-dispensed cosmetics market: TMR
ALBANY, NY, April 27, 2021 / PRNewswire / – The need to supply quality cosmeceuticals guides business proposals for new distribution strategies. Approaches that engage clinicians at different stages are becoming more popular than ever, due to the high global demand for cosmeceuticals available in skin and hair clinics and treatment centers. In various developing and developed countries, entrepreneurs who have become physicians are actively engaging in the distribution of products that are low cost and proven to be effective. Physician-dispensed cosmeceuticals are generating increasing sales for the treatment of a wide variety of skin conditions. The share of demand for skin care products in the global physician-dispensed cosmeceuticals market is notable.
With a CAGR of 10.3% between 2018 and 2026, opportunities in the physician-dispensed cosmeceuticals market are expected to affect US $ 31,322.14 M by 2026
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Main conclusions of the market study on cosmetic products dispensed by doctors
Products must meet current beauty standards for marketing
The demand for cosmeceuticals has gained marked momentum in the cosmetics industry due to their supposedly numerous therapeutic effects. Most commonly, these are topical formulations, and include skin and eye care products, and hair care products. Market players have put their weight behind the emerging distribution strategies that are promoted by some doctors who have become entrepreneurs. Both pharmaceutical benefit managers and potential consumers seek the efficacy of cosmeceuticals to accept their value. Thus, the market for physician-dispensed cosmeceuticals is evolving on the back of a relentless urge to ensure that products meet the current beauty standards of potential consumers. This means that the products dispensed by physicians must also meet the standard of effectiveness and must be cost effective to attract a stable consumer base.
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Anti-aging formulations at the top of the list of desired products
The demand for anti-aging formulations and procedures gives a constant boost to the popularity that physician-dispensed cosmeceuticals have gained over the years. Seniors and young adults are drawn to products recommended and dispensed by dermatologists. There is a growing demand for cosmetic products capable of meeting specific geriatric skin care conditions. The increasing incidence of skin conditions in young adults is driving the market. Injectable Botox and dermal fillers offer value creation opportunities for consumers looking for avenues in emerging markets. Changes in the lifestyle and value systems of the populations of these economies have made lucrative business for brands in the market. They are willing to spend on products that help them conform to new beauty trends. In addition, the growing recommendations of dermatologists for the products are driving the popularity of skin care cosmetics in developing markets.
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Physician-dispensed cosmetics market: key factors and avenues
- Widespread demand for genuine skin care products is a key trend fueling the wheels of prospective demand in the cosmeceutical market
- Growing engagement of dermatologists in well-founded distribution approaches is driving the market
- The rapid aging of populations is a major demographic dividend for market players,
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Physician-dispensed cosmetics market: main participants
- Allergan plc.
- Johnson and Johnson
- ZO Skin Health Inc.
- Procter & Gamble
- L’Oreal SA
- Bausch Health Companies Inc.
- Unilever plc.
A growing number of cosmetics manufacturers are expanding their product portfolio and market players are consolidating their distribution channels, especially in emerging economies such as Asia Pacific, to gain a stronghold there.
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Physician-dispensed cosmetics market: regional dynamics
The global distributed cosmeceuticals market has seen a demand for maturation in North America. Asia Pacific is expected to be a potentially lucrative regional market throughout the forecast period. Rising demand for topical formulations to meet the beauty needs of a substantial portion of the population is a key trend in the regional market. However, in less developed regions of the world, the level of awareness of cosmeceuticals remains low.
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