Physician Dispensed Cosmeceuticals Market to Become Worth US$27.6 bn by 2024

The global physician dispensed cosmeceuticals market currently encapsulates a number of players from the cosmetics and skincare industry. The market is expected to undergo fundamental changes in its competitive landscape because a number of dermatologists, specialists, and other experts of the field are aiming to commercialize their names to become market players themselves. This is projected to disrupt the current vendor landscape and invite a response from other renowned players. The leading market players in the contemporary times are Valeant Pharmaceuticals Inc., L'Oreal S.A., and Allergan plc. In 2015, the aforementioned market players accounted for 56% of the total market share, manifesting the consolidated nature of the market. L'Oreal S.A. alone held 28% of the total market share in the same years, thus, showing the stronghold of the company in the global market. There has been a great deal of speculation about the steps that the market players are expected to take in the future. It is prognosticated that the market players would bank on their ability to offer novel products in order to outsmart their competitors.

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Transparency Market Research prophesies the growth track of the market over the period from 2016 to 2024. The market is projected to grow at a robust CAGR of 10.6% over the forecast period, which showcases the opportunities that lie ahead in the market. The market was valued at US$11.2 bn in 2015 and is expected to escalate to US$27.6 bn by the end of 2024. Based on the type of products, the skincare segment dominated the market with the highest market share in 2015. The supremacy of the segment owes to the increased consciousness about skin and beauty. Anti-aging products are also expected to remain popular across the market. On a regional level, North America would crawl ahead of all other regional market due to its technological finesse. The market value in the region was worth US$4.7 bn in 2015 and is expected to touch US$10.52 bn by the end of 2024. However, the highest growth rate is anticipated to be exhibited by Asia Pacific due to the rising popularity of skin care products in the region.

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Branded Cosmeceuticals to Enhance Market Growth

The dermatologists are gradually venturing into entrepreneurship by converting their skincare clinic brand to manufacturing centers for cosmeceuticals. Since the dermatologist can accredit the products dispelled under their brand name, the customers could be easily persuaded into buying them. This has been the primary factor driving the demand for cosmeceuticals. On the other hand, the well-established brands have created a buzz around their products through effective marketing and advertising. This has also propelled demand across the market and has created more opportunities for the market players. The quest to buy branded cosmeceuticals has also boosted the demand within the market. The rising geriatric population and its concerns regarding skincare have played an instrumental role in increasing demand.

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Apprehensions About Side Effects of Cosmeceuticals Could Hamper Growth

Despite the plush growth of the market, several factors stand in the way of rapid growth. The consumers are apprehensive of the side effects that cosmeceuticals could have on their skin. This restrains the market and poses a threat to the market players. Furthermore, the low awareness quotient of the consumer with regards to the use of cosmeceuticals such as derma fillers also hinders growth. Nevertheless, the impetus on skincare in recent times is expected to keep soaring demand within the market.

Worldwide Physician Dispensed Cosmeceuticals Market Outlook and Forecast up to 2024

The global physician dispensed cosmeceuticals market features the presence of prominent names from the skincare and cosmetic industry. The market is currently undergoing a paradigm shift with a large pool of skincare specialists, dermatologists, and trichologists emerging as entrepreneurs, states Transparency Market Research (TMR) in a new study. However, the top three companies, L'Oreal S.A., Valeant Pharmaceuticals Inc., and Allergan plc, held more than 56% of the market in 2015. Of these, L'Oreal S.A. accounted for a larger share of 28% in the same year.

Since the physician dispensed cosmeceuticals market offers a plethora of products, it is important for manufacturers to cater to the consumer preference to gain a strong footing in the market. Product differentiation has therefore become a preferred strategy among competitors to enhance the marketability of their products. Even local manufacturers are focusing on advanced cosmeceuticals with a myriad of benefits to elevate rivalry.

This 90 page report gives readers a comprehensive overview of the physician dispensed cosmeceuticals market. Browse through 18 data tables and 30 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/physician-dispensed-cosmeceuticals-market.html

Increased Sales Opportunities Expected as Dermatologists Venture into Cosmeceuticals Manufacturing

With dermatologists manufacturing cosmeceuticals alongside running their skincare centers, the market is expected to gain momentum in the forthcoming years. However, consumer apprehensions related to potential side effects associated with the use of cosmeceuticals may stand in the way of the market’s growth. Besides this, the lack of awareness among customers regarding the revenue generating cosmeceuticals such as derma fillers and Botox is likely to create bottlenecks or the market in developing and under-developed countries. “Since the products offered in the market are highly sensitive to prevailing economic trends, financial downturns are also expected to have a negative impact on their sale,” said a lead analyst at TMR.

“Nevertheless, the rising demand for branded cosmeceuticals due to their safety and efficacy is expected to boost opportunities for the market in the near future,” he added. Furthermore, the knowledge about new skin conditions caused by exposure to pollution and climate changes will also boost sales of cosmeceuticals.

Among the products currently available in the market, the skincare products segment accounted for the leading market share in 2015. The increasing demand for cosmeceuticals across emerging economies and due to the rising geriatric population for treating various skin conditions will boost demand from this segment.

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North America Exhibits Most Lucrative Opportunities for Cosmeceuticals Sale

Regionally, North America has been exhibiting the most lucrative prospects for the sales of cosmeceuticals. As per TMR, the regional market stood at US$4.7 bn in 2015 and is expected to reach US$10.52 by the end of 2024. If these valuations hold true, the physician dispensed cosmeceuticals market in North America will exhibit a CAGR of 9.6% between 2016 and 2024. However, TMR forecasts opportunities for the market in Asia Pacific to increase at the fastest CAGR. The Asia Pacific physician dispensed cosmeceuticals market is therefore expected to surge at a CAGR of 12.3% during the forecast period.

According to TMR, the global physician dispensed cosmeceuticals market stood at US$11.2 bn in 2015. Rising at a CAGR of 10.6% between 2016 and 2024, the market is expected to reach US$27.6 bn by 2024.

This review is based on a report published by Transparency Market Research. The report is titled “Physician Dispensed Cosmeceuticals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”

Physician Dispensed Cosmeceuticals Market: Business Challenges, Emerging Technologies & Competitive Landscape

A new market research report by Transparency Market Research, titled “Physician Dispensed Cosmeceuticals Market - Global Industry Size, Share, Trends, Analysis And Forecast 2012 - 2018”, comprises an extensive evaluation of the market for physician dispended cosmeceuticals. This report predicts robust future development of the market for physician dispensed cosmeceuticals. The report also throws light on the numerous variables poised to shape the market for physician dispended cosmeceuticals using a regression model for determining the future growth of the market. As stated in the report, the physician dispended cosmeceuticals market stood at US$560 mn in 2011 and is anticipated to reach US$1.8 bn by 2018. It will expand at a remarkable CAGR of 18.15% between 2012 and 2018

Insightful predictions for the market for physician dispended cosmeceuticals have been presented by consulting top industry experts and by considering each and every statistical detail of the market. The major parent segments and their growth prospects coupled with the new opportunities presented by them to the major players are also an integral part of this study. The report entails an extensive review of the market drivers, trends, issues, acquisitions, mergers, and numerous strategic industry activities by prime companies. The use of cosmeceuticals has fully revolutionized the cosmetic and personal care industry. The increasing proliferation of beauty products have eliminated the cause of imperfections in place of covering them. The key application areas of cosmeceuticals are hair care, skin care, and injectables. The market analytics and data have been derived by conducting both primary as well as secondary research.

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As per the report, the failure of numerous non-prescription cosmetic products in meeting the needs of consumers and the rising preference for physician recommended products are amongst the prime factors driving the growth of the market. In addition, the rising use of e-Commerce to promote sales, the swift penetration of the internet, and the increasing count of dispensing physicians will also augment the growth of the market. Furthermore, the increasing surgical procedures, new product proliferations, and the rising consumer spending on health and wellness will also boost the growth of the market for physician dispended cosmeceuticals. In terms of product, the report segments the market into eyelash products and skin care products.

As per the report, the prominent players dominant in the market are Athena Cosmetics, Inc., LLC, exCel Manufacturing Co., Inc., Candem Pharma, Inc., Clinique Laboratories, LLC., Histogen, Inc., La Roche-Posay Laboratoire Pharmaceutique, Neutrogena Corporation, Obagi Medical Products, Inc., Pacific Bioscience Laboratories, Inc., SkinMedica, Inc., and Stiefel Laboratories, Inc., among others.