Furthermore, the market will exhibit a CAGR of 7.3% from 2020 to 2030 (forecast period), as per the estimates of the market research firm, P&S Intelligence. The market is being driven by the increasing purchasing power of people, growing focus of people on their looks and appearance, rising incidence of skin diseases, and soaring number of dermacosmetic conferences around the world.

According to the American Academy of Dermatology Association (AAD), 84.5 million people or one out of every four individuals in the U.S. were diagnosed with skin diseases in 2013. Furthermore, the organization reported that acne is the most prevalent skin ailment in the country and affects up to 50 million Americans every year. Additionally, the organization stated that atopic dermatitis affects up to 2–3% of all adults and up to 25% of all children in the country.

The high incidence of these skin diseases is fueling the demand for dermacosmetics. Apart from this factor, the growing propensity of people for spending in order to improve their looks and appearance is also propelling the expansion of the dermacosmetics market. Moreover, with the rising public awareness about skincare, people of various age groups are increasingly focusing on reducing acne, brightening their skin, reducing the signs of ageing, and improving their appearance, which is subsequently pushing up the requirement for dermacosmetics.

Between these, the skincare category contributed higher revenue to the market in 2020 and this trend is predicted to continue in the coming years as well. This will be because of the availability of various skincare products for skin whitening, acne treatment, spot removal, anti-ageing, and several other applications. The market is also categorized, based on treatment, into hair and skin. Of these, the skin category generated higher revenue in 2020.

This is attributed to the higher incidence of skin ailments such as dullness, ageing, fine lines, dual skin tone, and acne and the surging availability of various treatment options for them. Across the globe, Europe dominated the dermacosmetics market in 2020, and it is predicted to exhibit huge expansion in the upcoming years as well. This is ascribed to the growing incidence of skin diseases and soaring requirement for dermacosmetics in the region.

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