US Skin Conditions Consumer Report 2024
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Consumer awareness and habitual management of skin conditions anchor the medicated skincare market in slow growth, as the market size is anticipated to reach $1.27bn by 2024.
Despite the market’s slow growth, opportunities exist in comprehensive hyperpigmentation solutions, hormonal health, and VMS-inspired offerings that appeal to a diversifying and holistic-minded consumer base. Looking ahead, infringement of personal care entrants will blur the lines between cosmetic and medicated skincare. Skin diagnostic technology and custom skincare solutions are emergent frontiers that will speak to consumers’ comprehensive skincare goals. A winning proposition will enable consumers to take a proactive, precise and personalized approach to their skin’s appearance and health.
A slow but stable category sees disruption from personal care and wellness entrants that speak to interest in proactive and holistic solutions.
Joan Li, Senior Analyst, Beauty and Personal Care
For the purposes of the Market Size and Market Segmentation sections, skin condition products cover OTC (over-the-counter) products that consumers use to treat skin irritations and unwanted skin growths. Following is a list of the specific product types and conditions that are addressed in this report and the conditions that these products treat.
Not included are products for foot ailments, prescription medications or OTC products that are taken orally to treat these conditions (for example, non-prescription antihistamine tablets taken orally to treat skin rashes or irritations). Products with medicated ingredients or additions (eg bandages with antibiotic ointment added to the pad) and lice treatments are also excluded from these sections, but are considered in the Consumer section of this Report.
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