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.
This report looks at the following areas:
- Market size and forecast of the skin condition treatments
- Market factors and key players in the category
- Innovations and market opportunities in skin conditions
- Consumer self-reported incidence of skin conditions
- Consumer management of skin conditions
- Consumer attitudes and behaviors towards skin conditions
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
Market Definitions
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.
- Anti-itch creams/treatments – itching of the skin caused by dry skin, cracked skin, eczema, psoriasis, poisonous plants, jock itch, ringworm, skin rashes, bug bites, and other causes; insect first aid products are included in this segment.
- Lip treatments – cold sore treatments.
- Skin growth removers – common warts (hand), plantar (foot), and flat warts (clusters), skin tags. Does not include genital warts.
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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Executive Summary
- What you need to know
- Market size & forecast
- Market predictions
- What consumers want & why
- Opportunities
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Market Dynamics
- Market context
- Market drivers
- Annual inflation sits at 2.5% as of August, the lowest it has been since March 2021
- Graph 1: headline CPI and core CPI, 2021-24
- Consumer sentiment rebounds after a number of months on the slide
- Graph 2: consumer sentiment index, 2022-24
- Entrants from personal care and beauty compete with multi-benefit claims
- Graph 3: Product launches with skin condition claims, 2013-23
- Commercial teledermatology will lower barriers to prescription treatments and personalized skincare
- Market size and forecast
- Market definition
- Slow growth expected through 2029
- Retail sales and forecast of skin conditions products, at current prices
- Retail sales and forecast of skin conditions products, at inflation-adjusted prices
- Market segmentation
- Segments reflect total market stability
- Graph 4: total retail sales and forecast of skin conditions, at current prices, by segment, 2019-29
- Retail sales of anti-itch treatments, at current prices
- Retail sales of skin growth removers, at current prices
- Retail sales of core sore medications, at current prices
- Market share & brand share
- Private label encompasses nearly a quarter of market share
- Dermacosmetic brands such as La Roche-Posay and Eucerin show strong anti-itch sales growth
- Compound W continues to dominate in skin growth removers
- GSK’s Abreva maintains market lead in cold sore treatments
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Innovations AND Market Opportunities
- Beauty claims and players continue to infiltrate the market
- A spotlight on dark spots
- From skin condition management to skin condition prevention
- Anticipate the expansion of management options…
- …but value-driven shopping is to legacy and mass brands’ advantage
- Decouple skin health from skin perfection
- Updates on category innovations and launches
- Keep an eye on up-and-coming anti-inflammatory heroes
- Enable convenient treatment and protection
- Look out for alternative approaches to skin conditions
- Ingestible beauty acknowledges the holistic factors of skin conditions
- Skin diagnostic technology continues to improve and become more accessible
- Professional services address ongoing pain points
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Consumer Insights
- Consumer fast facts
- Skin conditions experienced
- Awareness of skin conditions continues to rise
- Graph 5: skin conditions experienced, net, 2022-24
- Dryness remains the most prevalent challenge, followed by acne
- Graph 6: skin conditions experienced, 2024
- Dryness and acne cut across all other conditions
- Graph 7: select skin conditions experienced by select skin conditions experienced, 2024
- Eczema solutions can win a niche in men’s personal care
- Graph 8: experiences with acne and eczema among men, 2024
- A diversifying consumer base makes hyperpigmentation an emergent opportunity
- Graph 9: experience with hyperpigmentation, 2022 vs 2024
- Managing skin conditions
- Product usage depends on the skin condition in question
- Consumers use a combination of treatment types
- Consumers use a combination of treatments types
- Graph 10: management of skin conditions by skin condition, 2024
- Nearly half of 18-24 year olds who experience a skin condition let it heal on its own
- Graph 11: net management of any skin condition by age, 2024
- The popularity of VMS products poses new marketing and product opportunities
- Graph 12: alternative treatments, 2024
- Treatment motivations
- Address improved appearance of skin for broadest relevance
- Acne and hyperpigmentation management conflates self-esteem and skin health with skin appearance
- Graph 13: treatment motivations by skin conditions experienced, 2024
- Treatment priorities also inform type of treatment sought
- Graph 14: net treatment by treatment motivations, 2024
- Appearance-oriented marketing is critical to reach Black consumers of skin condition treatments
- Graph 15: treatment motivations by race or ethnicity, 2024
- Changes to skin conditions & perceived triggers
- Build on the momentum of improved skin conditions
- Graph 16: changes to skin conditions in the past 12 months, 2024
- Psoriasis, rosacea, warts and fungal infections have notable whitespace opportunities
- Graph 17: changes to skin conditions by skin condition experienced
- Young people report the most awareness of, and frustration with, exacerbated skin conditions
- Graph 18: changes to skin conditions by age, 2024
- Target stress as a broadly-recognized culprit
- Graph 19: causes for worsened skin condition, 2024
- Acknowledge the connection between physical strain and certain flare ups
- Graph 20: Strenuous physical activity as a cause of worsened skin condition by skin condition experienced, 2024
- Create skin condition solutions across women’s hormonal life stages
- Graph 21: hormonal changes as a reason for worsened skin condition by skin condition experienced, 2024
- Approaches to understanding skin conditions
- Education on ingredients and solutions continues to be valuable
- Graph 22: understanding skin conditions, 2024
- Consumers of rosacea and acne treatments could benefit from outreach
- Graph 23: approaches to understanding skin conditions by skin conditions experienced, 2024
- Incorporate “edutainment” into the marketing mix
- Graph 24: social media as a skin condition resource by age, 2024
- Younger generations’ adoption of innovations points towards greater personalization
- Graph 25: select approaches to understanding skin conditions by age, 2024
- Attitudes & behaviors towards skin conditions
- Across BPC categories, demonstrate mindfulness of skin conditions
- Graph 26: attitudes and behaviors towards skin conditions, 2024
- Promoting natural themes can tap into consumer trust and peace-of-mind
- Graph 27: attitudes toward natural solutions to skin conditions by skin condition experienced, 2024
- Connect the dots between protective skincare and skin condition management
- Graph 28: select attitudes towards environmental triggers of skin conditions, 2024
- VMS-inspired products can bring a holistic appeal to management routines
- Graph 29: attitudes towards triggers of skin conditions, by skin condition experienced, 2024
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Appendix
- Consumer research methodology
- Generations
- Abbreviations and terms
- Forecast methodology
- Forecast fan chart methodology
- US: total retail sales and forecast of anti-itch treatments, at inflation-adjusted prices, 2019-29
- US: total retail sales and forecast of skin growth removers, at inflation-adjusted prices, 2019-29
- US: total retail sales and forecast of cold sore medications, at inflation-adjusted prices, 2019-29
- Bases: skin conditions experienced
- Bases: treatment motivations
- Correspondence analysis: how to read
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