Market Analysis for Cosmetology 2020

Ramesh C Gupta

Consultant, RNB Global University Bikaner India & Former vice chancellor, Radha Govind University, India, E-mail: [email protected]

 
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Dermatology is a department of drugs focused on the diagnosis and treatment of diseases of the skin, nails, hair, and mucous membranes. The major skin diseases encompass dermatitis, acne, psoriasis, eczema, skin infections, and pores and skin most cancers. Hair loss is the maximum commonplace hair problems around the world. Bacterial and fungal infections in nails, ingrown nails, tumor and warts are some commonplace nail problems. So that you can treat the pores and skin, nail and hair sicknesses, dermatologists propose dermatology capsules for his or her management.

North America and Europe are the main markets, because of the increasing incidence of pores and skin illnesses, and increasing focus approximately capacity packages of dermatology capsules within the areas. The U.S., followed by way of Canada, is the biggest marketplace for dermatology drugs. UK, Germany and France are the principal countries maintaining a substantial proportion within the EU marketplace.

This document chiefly analyses prescribed drugs used within the management of skin sicknesses. Pores and skin conditions are the various maximum common fitness problems amongst most countrywide populations, together exceeding the superiority of conditions which include obesity, hypertension and cancer. The massive prices of skin illnesses encompass doctor visits, health center care, prescribed drugs and over-the-counter merchandise for treating or coping with these situations, in addition to oblique expenses due to productivity losses.

The global marketplace for pores and skin disease treatment technology, which reached $17.1 billion in 2015, need to attain $20.four billion in 2020, demonstrating a five-12 months compound annual growth fee (CAGR) of three.6%. The United States market for skin sickness treatment, which dominates the worldwide market at some point of the period, totaled $7.5 billion in 2015 and should reach $8.6 billion in 2020, reflecting a 5-yr CAGR of 2.6%. BRIC (Brazil, Russia, India, China), the quickest developing vicinity of the worldwide dermatology market with a 5-year CAGR of 6%, should total greater than $four.6 billion with the aid of 2020.

Cosmetics Industry Overview

Global cosmetics market is expected to garner $429.8 billion by 2022, registering a CAGR of 4.3% during the forecast period 2016-2022. Cosmetics Market (makeup or beauty products) are mixture of chemical generally used to enhance the appearance or odor of the human body. Sun care, skin care, hair care, deodorants, makeup and color cosmetics, and fragrances are some of the cosmetics products that are predominantly available and used by individuals. Retail stores including supermarkets, exclusive brand outlets, and specialty stores amongst others are the major distribution channels, with online channels gaining popularity among consumers.

There is a considerable rise in disposable incomes over the past decade. The growth in global economies, changing lifestyles, rising demands of skin and sun care products due to varying climatic conditions encourages the growth of the market for cosmetics. A shift of preference towards natural and organic beauty products, particularly in U.S. and European countries, fosters the growth of the cosmetics market. Rising demand for natural, herbal and organic beauty products creates potential opportunities for manufacturers to innovate and develop new products in accordance to consumer preferences.

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According to the American Society of Plastic Surgeons (ASPS), almost 18 million people underwent surgical and minimally invasive cosmetic procedures in the United States in 2018. Cosmetic surgery focuses on body enhancement, while plastic surgery reconstructs body parts that have sustained damage due to disease, burns, or trauma.

The authors of an earlier study in the United Kingdom analyzed 204 questionnaires to identify the factors that drive people to undergo cosmetic surgery. The findings showed that women who rated their self-esteem, life satisfaction, and attractiveness as low, had few religious beliefs, and had high media exposure were more likely to undergo cosmetic surgery.

Top 5 cosmetic surgical procedures in 2018:

• Breast augmentation — 313,735 procedures.

• Liposuction — 258,558 procedures.

• Nose reshaping — 213,780 procedures.

• Eyelid surgery — 206,529 procedures.

• Tummy tuck — 130,081 procedures.

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