The medicated personal care product market is motivated by the growing awareness of a healthy life and the need to create a dominant personality. Lifestyle changes also play an important role in market growth. Market Research Future is estimated to reach the highest valuation while attaining the noteworthy CAGR during the forecast period 2017-2023.
Some of the leading name in the global medicated personal care product market contributing to efficient products include Personal Care, TWASA, KPH Cosmos Pvt. Ltd, Edana, L’Oreal, Johnson & Johnson, DCC Health, and Beauty Solutions LTD.
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Several medical companies are working hard to mitigate the growing demand for ingredients and medicines for personal care products for skin, hair, oral care, and other applications. In the large, fast-growing, and increasingly diverse market, product components present unique challenges for medical device manufacturers. Rising consumer incomes and changing lifestyles are affecting the medicated personal care product market. In addition, the market is driven by a growing middle-class population, a growing population, and new growth prospects such as halal beauty product, men’s care, and organic skincare products.
Booming e-commerce sector is result of consumer preference to online shopping trend. As more companies are bringing their products online, the growth of the medicated personal car product market is estimated to reach the peak during the forecast period. Simplified shopping process, secured payment methods, and access to wide inventory of the personal care product might also boost the demand for medicated personal care product.
Companies are majorly focusing on developing eco-friendly products that are either manufactured locally or from the locally sourced ingredients. Consumer preferences have demolished the long-established FMCG marketing strategies as digital technologies are revolutionizing the way consumers interact with stores and brands. These trends are impacting the growth of the global medicated personal care product market.
The steady increase in R&D and technological advances in processing and profitable products have made the most important contribution to the industry’s expansion over the past decade and will be the future trend of the coming years. The United States leads the global medicated personal care product market for personal care medicines, with a share of over 40% of the total market in 2016. The main factors influencing market growth are related to the increasing use of aging products in the market by growing population and several others.
The Asia Pacific region is expected to become the fastest-growing market in the coming years. Asian countries represent some of the largest and most promising export growth markets for long-term care and cosmetics companies. Asian countries, which account for more than 20% of global US exports worldwide, serve the companies with over 3 billion potential consumers in the world’s fastest-growing medicated personal care product markets. In addition, better living standards and rising disposable income for the middle class in developing Asia Pacific countries, including Malaysia, China, and India, are likely to influence growth of medicated personal care product market.
Rest of the World, specifically in the Middle East and Africa have the least share in the global market owing to the inadequate availability of biotechnology facilities. The United Arab Emirates, Kuwait, and Saudi Arabia are expected to lead the market in the Middle East and Africa. The African region is expected to grow moderately.
The global medicated personal care product market is broadly diversified into type and beauty care.
Based on types, the global medicated personal care product market is bifurcated into Antiperspirant, Deodorant, Hand Sanitizers, Oral Care, and natural personal care product.
Based on beauty care, the global medicated personal care product market is segmented into oils, shampoos, gels, moisturizers, oils, and soaps.
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Table Of Contents
1 Report Prologue
2 Market Introduction
2.2 Scope Of Study
2.3 Research Objective
2.4 Assumptions & Limitations
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
4 Market Dynamics
5 Market Factor Analysis
5.1 Porter’s Five Forces Model
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
5.2 Supply Chain Analysis
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