Dermatology Supplements Market
Number of pages: 100 | Report Format: PDF | Published date: March 16, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 3.7 billion |
|
Revenue Forecast in 2031 |
US$ 7.1 billion |
|
CAGR |
7.3% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023-2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Product, Distribution Channel, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global dermatology supplements market was valued at US$ 3.7 billion in 2022 and is expected to register a revenue CAGR of 7.3% to reach US$ 7.1 billion by 2031.
Dermatology Supplements Market Fundamentals
Dermatology supplements are specific nutritional supplements consumers prefer to enhance the skin’s overall quality. The supplements contain various minerals, vitamins, enzymes, amino acids, proteins, and other biocompatible ingredients that aid in maintaining skin features and improving the microbiome. Initially, supplements offer the vital nutrients needed for effective functions. The consumer-available over-the-counter supplements, including an increasing variety of peptide-infused products, are good for skin, hair, and nail health.
Dermatologists commonly recommend zinc, biotin, vitamin D, and other substances as dietary supplements to address various conditions. The Food and Drug Administration (FDA) classifies them as supplements, which include antioxidants, vitamins, and minerals that can help shield the skin from harm. Following, vitamins can aid in enhancing general health, which can benefit the condition of the skin. Finally, supplements can benefit in addressing particular skin issues, such as dryness, wrinkles, or acne. Various nutrients and minerals can be added to the diet to boost skin and hair health. Dermatologists frequently suggest biotin, which improves skin quality and strengthens hair, nails, and other body tissues. The skin needs collagen to stay smooth and youthful looking. Vitamins are crucial for skin regeneration, cell turnover, and damage prevention. They can also help clear up acne. Vital vitamin C promotes collagen formation for a youthful appearance and shields the skin from free radical damage. Omega-fatty acids aid in maintaining skin moisture and reducing irritation. Due to its role in promoting healing and cell growth, zinc is crucial for having healthy skin.
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Dermatology Supplements Market Dynamics
The rising prevalence of dermatological diseases is the main factor propelling the global dermatological supplements market revenue growth. According to the Global Burden of Disease research, dermatological disorders are the fourth most common cause of nonfatal disease burden worldwide. One in four Americans, approximately 84.5 million people, is affected by skin disease. The U.S. healthcare system’s medical, preventative, and medication costs associated with skin disease were US$ 75 billion in 2017. The demand for dermatology supplements is driven by rising spending capacity and increasing awareness of one’s appearance and skin quality. The large increase in revenue has also been attributed to major expenditures in research and development to produce novel items. The rapid usage of goods that aid in protecting the skin and preventing harm to it has also been boosted by pervasive pollution, global warming, and busy lifestyle that affect skin quality. Growing public awareness of the benefits of using natural skin care products is driving demand for natural skin supplements. Natural substances also have few negative effects, which promotes their use. Manufacturers now have the chance to make investments in the dermatological supplement sector.
Significant demographic transitions are taking place on a global scale. Households are declining, the population is aging, and demographic customer groupings are getting more defined as brand owners employ product extensions to diversify and target new consumers. Manufacturers are looking at how the launch of new products may make themselves relevant to these particular demographics as the primary brand communicator on the shelf. Dermatology supplements will likely become more popular as more people realize how good it is at treating acne and skin texture, one of the most common problems brought on by the modern lifestyle. The aging population is anticipated to spur market revenue growth throughout the projection period due to the increased demand for anti-aging treatments and procedures to remove wrinkles, age spots, etc. Also, more people are projected to adopt upgraded dermatology supplements, driving the market revenue growth.
However, dermatology supplements are expensive for customers, hindering market revenue growth. Customers are likely to be put off by the high price of these products, particularly in underdeveloped nations.
Dermatology Supplements Market Ecosystem
The global dermatology supplements market is analyzed from three perspectives: product, distribution channel, and region.
Dermatology Supplements Market by Product
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Based on the product, the global dermatology supplements market is segmented into vitamin, collagen, mineral, omega fatty acids, and others.
The vitamin segment accounted for the largest revenue share of the global dermatology supplements market in 2022. Vitamins are essential in treating many dermatological disorders, both orally and topically. Vitamin B3 to prevent non-melanoma skin cancer, vitamin B6 to prevent chemotherapy-induced alopecia, and vitamin C as adjuvant therapy for malignant melanoma are some recent vitamin applications that show promise. Extrinsic and intrinsic factors, such as aging, impact skin appearance. To counteract the phenotypic impacts of these factors, a wide range of remedies have been developed, including vitamins and supplements. A growing number of doctors are recommending biotin for treating skin, hair, and nails worldwide. The demand for biotin increased by 167% between 2006 and 2018 among people. Biotin has been used in numerous trials to treat dermatological disorders. Firmness, thickness, and fragility of brittle nails are improved with a daily intake of 2.5 mg of biotin. Only people with inherent or acquired biotin deficits may benefit from biotin treatment for specific hair diseases. In addition, just 27.2%, 15.03%, and 2.8% of consumers, respectively, reported benefits for hair, nails, and skin in a study of 16 biotin items. Although not fully examined, biotin has been proposed to improve the lipid profile in seborrheic dermatitis and reduce xerosis associated with isotretinoin treatment for acne. Vitamin A is necessary for the skin’s upper and bottom layers. By stopping the breakdown of collagen, it appears to reduce solar damage. Since it’s an antioxidant, it might provide sunburn protection for the skin. It facilitates the function of the oil glands that surround the hair follicles and may hasten the healing of wounds and scrapes.
The collagen segment in the global dermatology supplements market is expected to grow faster during the forecast period. The usage of nutraceuticals such as collagen for skincare is on the upswing. Skin aging is associated with a qualitative and quantitative decline in collagen. The global population is aging, and almost every nation is seeing an increase in the number and proportion of older people in their respective populations. Population aging is anticipated to become one of the most important societal changes of the twenty-first century, having ramifications for almost all facets of society and raising demands for self-improvement. Also, the strong purchasing power of consumers in both developed and developing nations fuels the rapid expansion of this segment.
Dermatology Supplements Market by Distribution Channel
Based on the distribution channel, the global dermatology supplements market is segmented into online and offline.
The online segment accounted for the largest revenue share of the global dermatology supplements market in 2022. Convenience is the main benefit of online purchases of dermatological supplements. There are no queues to stand in or cashiers to find to assist customers with their purchases. Internet stores allow customers to shop whenever they want and provide a no-pollution shopping experience. There is no better site to get informational products, such as supplements, made available to customers immediately after receiving payment. The user may order whenever, wherever, and from the comfort of their own home, and they have access to more brands, supplements, and quality products than they might otherwise find at a small vitamin shop. Online shopping may save time and money and can be simple with the right tools and people. One justification for purchasing health supplements online is cost. There is a common misconception that buying supplements in brick-and-mortar establishments is more affordable. While some online retailers may offer free delivery to consumers who spend at least US$ 50, others may offer discounts on vitamins and other health products. Several websites provide discounts and free shipping. That fact can be easily ascertained if a product will cost less to purchase online than at a physical store. Always purchase items offered at lower prices online than those supplied in real places if saving money is the main concern.
Dermatology Supplements Market by Region
Based on the region, the global dermatology supplements market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest revenue share of the global dermatology supplements market in 2022. An increase in the number of elderly people explains the rise. As Americans care more about looking young, this suggests a great demand for anti-aging treatments in the country. Due to the increased emphasis on aesthetics over the past 10 years, there has been an explosion in the number of dermatology supplements in the market. As people perceive it as a healthy alternative for preserving healthy skin, dermatological supplements are expected to expand in popularity in Europe.
Dermatology Supplements Market Competitive Landscape
Only a few big companies are on the market for dermatology supplements, making it moderately competitive. In terms of market revenue share, only a few of the top rivals currently dominate the market. To improve their market positions globally, certain well-known players are aggressively making acquisitions and introducing new goods with other companies.
The prominent companies holding the largest revenue share of the global dermatology supplements market are:
Dermatology Supplements Market Strategic Developments
Dermatologists commonly recommend dermatology supplements to treat skin, hair, and nail disorders.
The high cost of supplements and lack of proper knowledge are the major restraining factors hindering the revenue growth of the global market.
Key companies operating the global dermatology supplements market are Amway, Asahi NeoCell LLC., HUM Nutrition Inc., Meiji Holdings Co., Ltd., and Murad Europe Ltd.
The COVID-19 pandemic negatively impacted the market revenue growth due to the transport and delivery restrictions for the products used for dermatology supplements treatment.
The global dermatology supplements market is expected to grow at a revenue CAGR of 7.3% during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain
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