In 2022, the global Pharmaceutical And Cosmetics Market boasted a size of USD 1768 Billion, with projections indicating an expected revenue Compound Annual Growth Rate (CAGR) of 4% during the forecast period, as revealed in the most recent report by Reports and Data.
The surge in the self-care and personal grooming trend is fueling a heightened demand for cosmetic and skincare products. Consumers’ aspirations to enhance their overall well-being, coupled with an increasing awareness of health and wellness, are spurring the demand for pharmaceutical products.
Natural and organic cosmetics are gaining traction as consumers are becoming more discerning about the ingredients present in their skincare regimens. The rising prevalence of skin-related ailments like eczema, psoriasis, and acne is propelling the requirement for pharmaceutical products such as topical creams, ointments, and gels. Furthermore, an aging population is boosting the demand for anti-aging and anti-wrinkle solutions. The growing focus on well-being and healthy living is also bolstering the appetite for vitamins and nutritional supplements.
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The pharmaceutical and cosmetics sectors are experiencing growth due to government regulations and initiatives. Compliance with regulations mandating clinical studies before the release of new pharmaceuticals to the market is causing the cost of developing such drugs to escalate. Concurrently, the upswing in demand for generic drugs is driving revenue expansion in both the pharmaceutical and cosmetics markets.
Key players in the Pharmaceutical And Cosmetics Market:
- Johnson & Johnson
- Pfizer Inc.
- Novartis International AG
- Roche Holding AG
- GlaxoSmithKline plc
- AbbVie Inc.
- Amgen Inc.
- Procter & Gamble
- L’Oreal S.A.
Some Key Highlights in the Report:
- The skincare sector is expected to hold the dominant share of revenue during the projected period. This supremacy can be attributed to the increasing awareness among consumers regarding the importance of maintaining healthy skin, along with the growing popularity of natural and organic skincare products. Furthermore, the rising prevalence of skin conditions like acne, eczema, and psoriasis has spurred demand for skincare products and the development of specialized treatments to address these issues.
- In the forecasted period, it is anticipated that the retail sector will account for the majority of revenue. The convenience of physically inspecting and evaluating products before making a purchase is driving the demand for pharmaceutical and cosmetic items available in retail establishments. Additionally, the presence of well-established retail chains such as Sephora, Ulta Beauty, and Walgreens has contributed to the market’s growth. Moreover, the preference of customers for in-person shopping experiences when it comes to beauty and personal care products is boosting revenue in this sector.
- The Asia Pacific market is expected to hold the largest share of revenue throughout the forecast period. The growth of the middle class in countries like China and India has led to an increased demand for premium skincare and personal care products. Additionally, the aging population and the rising incidence of chronic diseases in the region have driven demand for pharmaceutical products. Major companies are heavily investing in Research and Development (R&D) to introduce innovative products into the highly competitive pharmaceutical and cosmetics market in the Asia Pacific region. The presence of cost-effective manufacturing facilities in the region enables companies to generate higher profits. Furthermore, the expansion of e-commerce platforms in this area has facilitated direct-to-consumer sales and provided customers with easier access to a wider range of products. These factors are expected to propel the growth of market revenue in the Asia Pacific region.
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For the purpose of this report, Reports and Data has segmented the global pharma & cosmetics market on the basis of Product Type Outlook, End-Use Outlook, and Regional Outlook:
Product Type Outlook (Revenue, USD Billion; 2022 – 2032)
- Skin Care
- Hair Care
End-Use Outlook (Revenue, USD Billion; 2022 – 2032)
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Regional Outlook (Revenue, USD Billion; 2022-2032)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2020–2021) and forecast (2022–2032) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2019 and 2030.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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