Physician Dispensed Cosmeceuticals Market Size (2024 - 2029)

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 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.