The global skin treatment market size is expected to reach USD 19.35 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 2.7% from 2021 to 2028. The market growth is attributed to the rising demand for soft gel products from consumers in the U.S. and China. Moreover, the increasing demand for oral capsules and external cream from Asia Pacific is anticipated to boost the market growth over the forecast period.
The rising prevalence of skin diseases is boosting the demand for skincare products. Moreover, a surge in the adoption of bacterial squeeze tubes is expected to propel the market growth. However, the high cost of skin treatment products is expected to restrict the market growth. At present, key players are focusing to provide thrush combi gel to gain relief from itching and burning. Hence, the market is expected to witness significant growth during the forecast period.
The Covid-19 pandemic had reduced the diagonal growth of the global trade. The coronavirus had strongly affected the supply chain of several industries. The supply chain of the market for skin treatment had reflected positive growth during the pandemic era. Local drug dealers, multi-specialty hospitals, and retail pharmacies are escalating revenue generation by adopting e-commerce trade terminology during the pandemic era. The rising demand for Mario Badescu Acne Facial Cleanser to recover skin issues, such as dehydration, excess sebum, and blemishes of the face, is expected to propel the market growth.
The natural and synthetic agents segment will witness the highest growth over the forecast period. This can be credited to the growing demand for Adapalene ointments from the consumers in Asia Pacific to renew the old skin. Tablets and capsules are majorly used to reduce itching and swelling. The increasing demand for natural and herbal creams from elderly patients is anticipated to refuel the market growth.
The offline distribution channel segment captured the largest share of more than 70.0% in 2020. This can be attributed to the growing demand for panoxyl acne creamy products from emerging countries, such as China and India. The offline segment consists of multi-specialty hospitals, domestic drug suppliers, and retail pharmacies. The trustworthy relationship of local traders with native consumers and low-cost services are the major factors expected to propel the market growth during the forecast period.
Asia Pacific captured the largest share of over 30.0% in 2020. This can be attributed to the rising demand for bakson’s acne aid cream from developed countries, such as China and India. The anti-comedogenic action of acne aid cream is used to control skin disorders. The ease of accessibility of skin treatment OTC products at domestic pharmacies will contribute to the market growth. The growing trend in Japan to adopt differin gel for face clearance is anticipated to boost the market growth. The market in China is driven by the growing demand for natural acne cream solutions with strength spot treatment to relieve acne pain.
The report “Skin Treatment Market Size, Share & Trends Analysis Report By Type (Preparations to Treat Skin Diseases, Natural & Synthetic Agents), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2021 - 2028” is available now to Million Insights
Million Insights has segmented the global skin treatment market on the basis of type, distribution channel, and region: