Physician Dispensed Cosmeceuticals are the custom made products that penetrate deeper into the skin than the normal OTC products. As these products are deeply penetrated, it provides early and better results which is the prime factor responsible for the growth of this market. Most Physician lines are designed and formulated by the physicians, skin professionals and scientists who have researched ingredients for many years and put them into action in their own practices to treat intended targets. Additionally, increasing importance on the beauty and appearance, growing awareness about anti-aging, and increasing awareness about the safety and efficacy of physician-dispensed cosmeceuticals are the other factors that are contributing to the growth of the market. Moreover, several local dermatologists owned professional startups specializing in the cosmeceuticals have rapidly entered into the market which is catering to the growth of the market by driving the demand for the usage of physician-dispensed cosmeceuticals among localities.
Scope of the Report
Physician Dispensed Cosmeceuticals refers to products that are only available through a medically directed business and are geared towards 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. Physician-Dispensed skincare is not officially recognized by the FDA.
Key Market Trends
Anti-aging segment holds a significant market share
- Consumers, especially the aging population, are increasingly looking for methods and products to maintain and improve their appearance to look youthful and beautiful, more so with the rising awareness about anti-aging products.
- The middle-aged people are increasingly witnessing aging anxiety, due to the high prevalence of extrinsic signs of aging.
- Anti-aging skin products are known as cosmeceuticals, as they overlap the distinction between cosmetics and pharmaceuticals.
- Obagi Nu-Derm System from Obagi Cosmeceuticals LLC is a Wide-ranging skincare product especially formulated for normal to dry skin to help to correct hyperpigmentation and transform the appearance of aging skin.
The Asia Pacific is the fastest-growing region in Global Physician Dispensed Cosmeceuticals Market
The market in the Asia Pacific region is expected to grow significantly over the forecast period. Growing preference to behold long-lasting youthful appearance and beauty is driving the demand for effective physician-dispensed cosmeceuticals in the region. Furthermore, the growing focus of key market players on expansion in Asia Pacific countries, the huge customer base in the region, and rising awareness about physician-dispensed cosmeceuticals will also drive the market in the Asia Pacific. the population of Japan is among the most prolific consumers of cosmetics, placing it among the top five national markets for personal care products.
The market is moderately competitive due to the presence of many small and large manufacturers. competition in the market is high due to the increasing investments in R&D for product innovation and increasing efficiency of the product by launching new products into the market. Key market players in the respective market are Allergan, Merz Pharma, INNOVATIVE SKINCARE, Obagi Cosmeceuticals LLC, SkinCeuticals International amongst others.
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