Medicated Personal Care Products Market Overview
Medicated Personal Care Products Market Size was valued at USD 7.65 Billion in 2023. The Global Medicated Personal Care Products industry is projected to grow from USD 7.91 Billion in 2024 to USD 10.00 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 2.63% during the forecast period (2024 - 2032).
This market for medicated personal care products was founded a few decades ago. It is driven by growing awareness towards a healthy lifestyle and the desire to create a commanding personality. Lifestyle changes are also playing a significant role in the growth of the medicated personal care products market.
Medicated skincare products are applied to the skin to protect and care for it. These products aid in treating a variety of health disorders such as psoriasis, eczema, acne, and others. Such illnesses can be addressed by utilizing medicated medicines that include active components that can reduce or regulate skin irritation produced by these diseases.
Covid-19 Analysis
With the rise of the Covid-19 impact, many large-scale businesses and industries suffered, except healthcare and life support products. The lockdown and physical distancing protocols have affected millions of small and big business institutions alike. The medicated personal care products market saw a slight downfall post the pandemic due to the lockdown and physical distancing.
The pandemic has severely hindered the market growth, which has affected the forecast market value significantly. However, the pandemic situation is expected to wear off in the coming years. Hence, the medicated personal wellness products market will see steady growth in the forecast years.
Market Dynamics
Drivers
A few factors may drive the growth of the medicated personal care products market. The change in the lifestyles of the population around the globe is expected to drive the medicated personal care products market value growth. The growing senior population and the increased prevalence of chronic illnesses such as psoriasis and eczema are driving this market. Furthermore, the increasing demand for organic skincare products has opened up new avenues in the worldwide medicated skincare products market. Hence, these factors are expected to fuel the global market growth.
Opportunities
The main drivers impacting the worldwide medicated skin care products market are growing knowledge about skin illnesses and disorders, rising demand for personalized beauty products, and increasing disposable income among the youthful population.
With more than half of the world's population suffering from some dermatological illness or ailment, medicated skincare is a growing trend. In this day and age, when individuals are attempting to squeeze every last drop of life out of them, such as participating in extreme sports without considering the long-term effects on their bodies, there is a greater demand for medicine that aids in healing wounds.
Restraints
Paraben is the most frequent chemical found in beauty goods. It is used as a preservative in deodorants, moisturizers, shampoos, body wash, and cosmetics, and it raises the risk of
breast cancer. It has a chemical structure similar to estrogen and can cause cancer even in trace doses. Men who use paraben-containing items may have reduced sperm counts and testosterone levels.
It may potentially alter the endocrine system. Meanwhile, formaldehyde and formaldehyde releasers in nail products, hair color, hair straighteners, fake eyelash adhesives, cosmetic glues, and some shampoos have been linked to cancer and can harm the immune system. These side-effects of using medicated personal care products may hinder the market growth.
Challenges
Even commonplace items like hand sanitizers and hair straighteners might inflict more harm than good. Substandard quality, grade, or toxic product formulations can cause allergies, discoloration, textural changes, or permanent damage to the skin or hair. Increased consumption and unregulated manufacturing have resulted in a significant increase in the number of negative effects experienced by consumers.
Cumulative Growth Analysis
The global medicated personal care products market is expected to expand with significant CAGR by the end of the forecast period.
Value Chain Analysis
The market for medicated personal care products was recently, and it is driven by growing awareness towards a healthy lifestyle and the desire to create a commanding personality. Lifestyle changes are also playing a significant role in the growth of the medicated personal care products market.
Medicated skincare products are applied to the skin to protect and care for it. These products aid in treating a variety of health disorders such as psoriasis, eczema, acne, and others. Such illnesses can be addressed by utilizing medicated medicines that include active components that can reduce or regulate skin irritation produced by these diseases.
Segment Overview
The global medicated personal care products market is classified into many segments such as types, procedures, applications, and end-user. Listed below are the medicated beauty & wellness care products market segments:
By Types
- Oral care
- Deodorants
- Feminine care
- Antiperspirants
- Body powders
- Hand sanitizers
- Others
By Beauty care
- Shampoos
- Oils
- Soaps
- Moisturizers
- Gels
- Others
Regional Analysis
The regional division of the medicated personal care products market analysis comprises North America, Europe, Asia Pacific, and the rest of the world. Among these regions, North America is expected to rule over the global market over the forecast period. A substantial portion of this region's market is devoted to raising awareness about the importance of living a healthy lifestyle. The United States is expected to significant CAGR as part of the new developing geographic environment.
Europe is anticipated to be the second-largest economy concerning the medicated personal care products market share. Germany will add more value to Europe during the next 7 to 8 years. Furthermore, the region's estimated tremendous demand will come from markets in the rest of Europe. By the end of the forecast period, Japan's medicated skincare products segment will have a signifiicant market value.
Competitive Landscape
The medicated personal care products industry is dominated by a few companies that play a vital role in the market growth. These medicated personal care companies are called key companies of the market. They contribute to the largest share of the market profit.
The companies account for the market profits by adopting various medicated personal care products market trends such as joint ventures, product launches, company expansions, and procurements. They offer innovative and safe medicated personal care product options for those who are prescribed for them.
Key Players
Below are the key companies that offer medicated personal care products in the global market, with the location of their headquarters:
- DCC Health and Beauty Solutions Ltd (UK)
- KPH Cosmos Pvt. Ltd (India)
- Personal Care (US)
- Johnson & Johnson (US)
- Edana
- TWASA (India)
- L'Oreal (Paris)
Recent Developments
PURITO, a South Korean cosmetics business, announced the debut of 'PURITO Centella Green,' a vegan-friendly line of derma cosmetics products, in February 2019. This new product line specializes in customers with sensitive skin and the rising consumer desire for ethical and eco-friendly cosmetics.
Report Overview
This report delivers all the information about the market size of the global medicated personal care products in the forecast period. It also contains different sections of the market analysis to help obtain detailed information such as opportunities, challenges, drivers, Covid-19 analysis, regional analysis, competitive landscape, and others. Moreover, all the information is collected from verified primary and secondary sources to provide the expected medicated personal care products market outlook.
Geographically
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Europe
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Asia-Pacific
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North America
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Middle East & Africa
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Rest of the world
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Report Attribute/Metric
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Details
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Market Size
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2032: USD 10.00 Billion
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CAGR
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2.63% : (2024-2032)
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Base Year
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2021
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Forecast Period
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2024-2032
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Historical Data
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2020
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Forecast Units
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Value (USD Million)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Segments Covered
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By Types, By Beauty care
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Geographies Covered
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North America, Europe, Asia-Pacific, and Rest of the World (RoW)
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Key Vendors
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Personal Care (US) , TWASA (India), KPH Cosmos Pvt. Ltd (India), Edana, Johnson & Johnson (US), L’Oreal (Paris), DCC Health and Beauty Solutions LTD (UK).
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Key Market Opportunities
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· Growing awareness towards a health life
· The urge of creating a commanding personality
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Key Market Drivers
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The change in lifestyle is also playing a major role in the growth of the market
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