Derma products market witnessing a strong growth

The derma market is experiencing a significant surge in both value and unit consumption, as reported by market research firm Pharmarack. This surge can be attributed to the growing obsession with skincare, driving an escalating demand for dermatological products across the country.

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In a society increasingly fixated on the pursuit of flawless skin, the skincare industry in our country is experiencing a significant surge in demand for dermatological products. Market analysis conducted by Pharmarack, a leading research firm, reveals a remarkable uptick in both the value and consumption of derma products, indicating a growing obsession with skincare regimens among consumers.

Sheetal Sapale, the Vice President of Commercial Affairs at Pharmarack, highlights the evolving consumer preferences that are driving this trend. “Segments such as face serums, emollients, protectives, and sunscreens are witnessing steady growth over time,” she explains. This growth is indicative of a shift towards more comprehensive skincare routines among individuals seeking to enhance and preserve the health and appearance of their skin.

One of the most notable areas of expansion within the derma market is the rise of haircare products and anti-dandruff treatments. Sapale notes that these segments have experienced remarkable double-digit growth in both value and volume, contributing significantly to the overall expansion of the derma therapy segment. This surge in demand underscores the increasing importance placed on maintaining healthy hair and scalp among consumers.

Industry data further illuminates the rapid growth trajectory of key derma product categories. For instance, face serums have exhibited a staggering 32% compound annual growth rate (CAGR) over the last five years, making them a particularly lucrative market segment. Similarly, the market for face wash has grown at a commendable 22% CAGR during the same period, reflecting the widespread adoption of daily skincare routines.

Emollients and protectives, essential components of any skincare regimen, have experienced substantial growth in market value, signaling a heightened awareness of the importance of moisturization and skin protection. Sunscreens, too, have seen a significant uptick in demand, driven by increased awareness of the detrimental effects of UV radiation on skin health.

The burgeoning popularity of derma products can be attributed, in part, to the influence of social media and mainstream media’s lifestyle sections. Dr. Smriti Naswa Singh, a consultant dermatologist at Fortis Hospital, Mulund, acknowledges the role of these platforms in raising awareness about skin, hair, and nail care. “Patients are increasingly seeking advice on specific skincare trends, such as the Korean ‘glass skin’ phenomenon,” she observes.

However, Dr. Singh emphasizes the importance of providing patients with accurate information tailored to their individual needs. She points out the significant racial differences in skin types and underscores the necessity of customized skincare regimens. Moreover, she highlights the growing awareness of sunscreen usage and the importance of selecting products suitable for different skin types.

As the obsession with skincare continues to fuel the demand for dermatological products, it is imperative for both consumers and healthcare professionals to prioritize education and informed decision-making. By understanding the unique needs of their skin and adopting evidence-based skincare practices, individuals can embark on a journey towards healthier, more radiant skin.

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