Physician Dispensed Cosmeceuticals Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 29.24 Billion |
| Market Size (2029) | USD 41.98 Billion |
| CAGR (2024 - 2029) | 7.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Physician Dispensed Cosmeceuticals Market Analysis
The Physician Dispensed Cosmeceuticals Market size is estimated at USD 29.24 billion in 2024, and is expected to reach USD 41.98 billion by 2029, growing at a CAGR of 7.5% during the forecast period (2024-2029).
Factors such as increasing beauty consciousness and growing awareness of physician-dispensed cosmeceuticals are contributing to the overall growth of the market studied. The market is experiencing an accelerating demand for anti-aging products like anti-wrinkle creams, face creams, serums, and eye creams. In addition, pollution and hard water conditions are boosting the need for cosmeceuticals.
The aging population is more prone to wrinkles and frown lines on their skin and forehead, and the target population is actively taking skincare procedures and therapies to manage and maintain their appearance. For instance, a report published by the Journal of Clinical and Diagnostic Research in September 2023 stated that the majority of patients aged 60-69 reported wrinkling of skin as the most common physiological skin finding, followed by dry skin. Hence, the increasing geriatric population is expected to propel the demand for physician-dispensed cosmeceuticals to treat such aesthetic issues better, thus driving the market's growth.
Furthermore, the rise in the availability of advanced products, increasing awareness about enhancing aesthetic appeal, and the rise in disposable income levels and spending on personal care products are the significant factors driving the market's growth. In addition, the growing social media influence worldwide has facilitated the adoption of cosmeceuticals, which is expected to benefit market growth over the study period. For instance, as per one of the articles published by the American Society of Plastic Surgeons in September 2023, the digital era of social media positively impacted the cosmetic industry. This highlights the increased access to information about celebrities undergoing cosmetic procedures and products. The digital era is contributing to the increased usage of cosmeceuticals, thereby boosting market growth.
Therefore, the market studied is anticipated to witness growth over the analysis period owing to factors such as the growing aging population and social media's influence on aesthetic appearance. However, the high cost of the products and the lack of trained and skilled professionals are predicted to hinder the market's growth over the forecast period.
Physician Dispensed Cosmeceuticals Market Trends
The Anti-aging Sub-segment is Expected to Witness Growth Over the Forecast Period
These physician-dispensed cosmeceuticals are custom-made products that penetrate deeper into the skin than normal over-the-counter (OTC) products. The growing awareness about anti-aging and the safety and efficacy of physician-dispensed cosmeceuticals are contributing to the segment's growth. Consumers, especially the aging population, are increasingly seeking methods and products to maintain and improve their appearance to look youthful and beautiful, especially with the rising awareness of anti-aging products.
With a growing emphasis on maintaining youthful and radiant skin, anti-aging products, particularly serums, have become a cornerstone of many skincare routines. These products promise not only to combat the visible signs of aging but also to enhance overall skin health. For instance, according to an article published by Adiveda Natural in March 2022, anti-aging products, particularly serums, offer numerous skin benefits. These include skin tightening, enhanced hydration, a radiant glow, and prevention of age-related dark spots and uneven skin tone. Furthermore, individuals using these serums are less likely to face dermal issues. In conclusion, the anti-aging sub-segment is expected to thrive, driven by innovative products that deliver tangible benefits.
With advancements in dermatological research, products like moisturizers and sunscreens have become essential in combating the signs of aging. Moreover, according to the American Academy of Dermatology Association (AADA) data updated in 2022, moisturizers with anti-aging properties were found to reduce fine wrinkles. Since they work so well, moisturizers are frequently used as anti-aging ingredients. Also, the source mentioned above stated that dermatologists suggest using sunscreen and moisturizer as the two most effective anti-aging products. Thus, the growing advantages of anti-aging products are anticipated to drive the sub-segment's growth over the forecast period.
Furthermore, new company activities, such as agreements and collaboration in developing new anti-aging products, are expected to boost segment growth over the forecast period. For instance, in November 2023, Elevai Labs Inc., a medical aesthetic firm focused on physician-dispensed skincare, entered a licensing agreement with Yuva Biosciences Inc. The collaboration aims to merge Yuva Biosciences' mitochondrial research with Elevai's PREx (Precision Regenerative Exosome Technology). The goal was to create topical skincare formulations using exosomes, targeting cosmetic skin and hair issues linked to aging. In summary, the anti-aging skincare segment is poised for significant growth, driven by innovative collaborations and advancements in product development.
The anti-aging sub-segment is set for substantial growth, fueled by innovative products and strategic collaborations. With a focus on maintaining youthful and radiant skin, products that combat visible signs of aging and enhance overall skin health are expected to drive the sub-segment's growth, providing consumers with effective solutions for maintaining youthful skin and hair.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to register significant growth in the market owing to factors such as the higher availability of advanced products and high consumer awareness about their physical and aesthetic appearance. The increase in the usage of cosmeceuticals for effective and long-lasting results is among the key factors contributing to the growth of the market studied in the region.
In the United States, cosmeceuticals are regulated by the Food and Drug Administration (FDA). The FDA regulates these products under the authority of the Federal Food, Drug, and Cosmetic Act (FD&C Act) and the Fair Packaging and Labeling Act (FPLA). As per a press release by the FDA in February 2022, except for color additives, cosmetic items and ingredients are exempt from the requirement for FDA premarket approval. The FDA can, however, take enforcement action against businesses or people who break the law, as well as against items currently on the market that are not compliant. Such regulations, to ensure the safety of the consumers in the country, are creating opportunities for better and safer cosmeceuticals, which the physicians can trust and dispense to the target population. Thus, market growth is expected to increase in the region over the forecast period.
Furthermore, the availability of numerous market players in the aesthetic industry, which focus on innovative cosmeceuticals and make their way to customers, is another prime factor driving the market growth. For instance, in May 2022, Eucerin, one of the skincare brands, expanded its presence in the US sun protection market with its revolutionary Eucerin Sun line. It was created in collaboration with dermatologists and consists of seven products for the face and body. Such developments are anticipated to boost market growth over the forecast period. Therefore, owing to the abovementioned factors, such as new safety and efficacy guidelines for cosmeceuticals and expansion of the products in the region, North America is anticipated to record significant growth in the market over the forecast period.
Physician Dispensed Cosmeceuticals Industry Overview
The physician-dispensed cosmeceuticals market is semi-consolidated due to the presence of many small and large market players globally and regionally. The level of competition in the market is high due to the increasing investments in R&D for product innovation and advancing production efficiency due to the launch of new products. The key market players include Allergan, Merz Pharma, Innovative Skincare, Obagi Cosmeceuticals LLC, and SkinCeuticals International.
Physician Dispensed Cosmeceuticals Market Leaders
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Merz Pharma
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INNOVATIVE SKINCARE
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Obagi Cosmeceuticals LLC
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SkinCeuticals International
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Abbvie Inc (Allergan PLC)
*Disclaimer: Major Players sorted in no particular order
Physician Dispensed Cosmeceuticals Market News
- March 2024: Obagi Cosmeceuticals LLC, the originator of medical-grade skincare products and a subsidiary of Waldencast PLC, launched its Daily Hydro-drops Rejuvenating Eye Gel Cream.
- April 2022: Topix Skin Health launched a new physician-dispensed phyto multi-correction serum for sensitized skin under its new business name, Replenix.
Physician Dispensed Cosmeceuticals Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Beauty Consciousness
4.2.2 Growing Awareness About Physician Dispensed Cosmeceuticals
4.3 Market Restraints
4.3.1 High Cost of the Products
4.3.2 Lack of Trained and Skilled Professionals
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Type
5.1.1 Skin Care
5.1.1.1 Anti-Ageing
5.1.1.2 Sunscreens
5.1.1.3 Other Skin Care Products
5.1.2 Eye Care
5.1.2.1 Eye Drops
5.1.2.2 Other Eye Care Products
5.1.3 Hair Care
5.1.3.1 Hair Repair
5.1.3.2 Anti-dandruff
5.1.3.3 Other Hair Care Products
5.1.4 Other Types
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 United Kingdom
5.2.2.3 France
5.2.2.4 Italy
5.2.2.5 Spain
5.2.2.6 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 Australia
5.2.3.5 South Korea
5.2.3.6 Rest of Asia-Pacific
5.2.4 Middle East and Africa
5.2.4.1 GCC
5.2.4.2 South Africa
5.2.4.3 Rest of Middle East and Africa
5.2.5 South America
5.2.5.1 Brazil
5.2.5.2 Argentina
5.2.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbvie Inc (Allergan PLC)
6.1.2 Merz Pharma
6.1.3 Innovative Skincare
6.1.4 Obagi Cosmeceuticals LLC
6.1.5 SkinCeuticals International
6.1.6 Cuskin
6.1.7 Khiron Life Sciences Corp.
6.1.8 La Roche-Posay
6.1.9 AestheticsRX
6.1.10 RATIONALE
6.1.11 Seba Pharma
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Physician Dispensed Cosmeceuticals Industry Segmentation
As per the scope of the report, physician-dispensed cosmeceuticals refer to products that are only accessible through a medically directed business and are geared toward creating actual biological actions on the skin below the stratum corneum. Many physicians whose practices or specialties involve skin health choose to dispense these cosmeceuticals or have them specially compounded to offer heightened results to their patients and to enhance their results with other treatments.
The physician-dispensed cosmeceuticals market is segmented by type and geography. By type, the market is segmented into skin care, eye care, hair care, and other types. The skin care segment includes anti-aging, sunscreens, and other skin care products. The eye care segment includes eye drops and other eye care products. The hair care segment includes hair repair, anti-dandruff, and other hair care products. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers market sizes and forecasts in terms of value (USD) for all the abovementioned segments.
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Physician Dispensed Cosmeceuticals Market Research Faqs
How big is the Physician Dispensed Cosmeceuticals Market?
The Physician Dispensed Cosmeceuticals Market size is expected to reach USD 29.24 billion in 2024 and grow at a CAGR of 7.5% to reach USD 41.98 billion by 2029.
What is the current Physician Dispensed Cosmeceuticals Market size?
In 2024, the Physician Dispensed Cosmeceuticals Market size is expected to reach USD 29.24 billion.
Who are the key players in Physician Dispensed Cosmeceuticals Market?
Merz Pharma, INNOVATIVE SKINCARE, Obagi Cosmeceuticals LLC, SkinCeuticals International and Abbvie Inc (Allergan PLC) are the major companies operating in the Physician Dispensed Cosmeceuticals Market.
Which is the fastest growing region in Physician Dispensed Cosmeceuticals Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Physician Dispensed Cosmeceuticals Market?
In 2024, the North America accounts for the largest market share in Physician Dispensed Cosmeceuticals Market.
What years does this Physician Dispensed Cosmeceuticals Market cover, and what was the market size in 2023?
In 2023, the Physician Dispensed Cosmeceuticals Market size was estimated at USD 27.05 billion. The report covers the Physician Dispensed Cosmeceuticals Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Physician Dispensed Cosmeceuticals Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Physician Dispensed Cosmeceuticals Industry Report
Statistics for the 2024 Physician Dispensed Cosmeceuticals market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Physician Dispensed Cosmeceuticals analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Physician Dispensed Cosmeceuticals Market Report Snapshots
