By 2017, Medicated Skin Care Market to Reach USD 6.2 Billion
Posted Sep 13 2012 9:19am
One’s largest body organ is Skin. It is also one of the sensory organs which give us the sense of touch. It acts as a protective shield for the inside organs, helps regulate body temperature and acts as a filter, too. Moreover, skin quality also affects the physical appearance. Skin exists in a constant state of growth, with old cells dying as new cells are forming. Hence it is important to care for the skin too, along with all other parts of the body.
Having a good skin quality is not in our hands because it comes from genetics and facial structure. But there are certain things on which we can have a control, they are, good nutrition, protection from sun exposure, and protection from injury. Life, today; in a country like India, where there is growing population, development, pollution, congestion, has become very chaotic. So to maintain the youth look and to lead a healthy living, it is important to care for the skin as well, as we do for other organs of our body. Apart from the busy young population of India, another group that has got into concerns is the aging population which has an insistent pursuit of achieving youthful looks and flawless skin.
By the year 2017, products within the global medicated skin care market are forecast to reach a value of US $6.2 billion.
Asia-Pacific with its huge population base, rising disposable incomes and evolving markets of India, China, Australia, Malaysia and Thailand among others, offers tremendous unexploited market potential. The Asian market is set to achieve a CAGR of approximately 6% through to 2017.
The skin care market belongs to the Personal Care segment of the FMCG sector in India and is valued at $180 million in India (Approx. Rs.72,000 Cr.) The penetration level for the rural market is relatively low. However, within a period of five-six years, the use of medicated skin care products has increased significantly in India. With safe and effective procedures, advancement in medical technology, increase in awareness, the Indian Skin care solutions business is mounting very fast.
Indian medicated Skin Care Market has wide range of products for Antiparasitics/Lice (Head and Body) Treatments, Antipruritics, Cold Sore Treatments, Haemorrhoid Treatments, Hair Loss Treatments, Medicated Shampoos, Nappy (Diaper) Rash Treatments, Paediatric Medicated Skin Care, Topical Allergy Remedies/Antihistamines, Topical Antifungals, Topical Germicidals/Antiseptics, Vaginal Antifungals, etc.
Topical germicidal/antiseptics are mainly used in the winter, but are not liked by many consumers due to the stickiness of the creams. Topical antifungal and antiparasitics register the strongest demand in the summer. Increased consumption of antiparasitics, hair loss treatments and medicated shampoo products among lower middle class households is enhancing sales of such products across India. Concerns about hygiene and personal grooming drive sales. Discounts enhance growth in the face of economic uncertainty.
Indian population has realized the need for proper skin care. There are many needs which can be treated as opportunities by the companies to exploit the full potential of the Medicated Skin Care sector in India. Also rising prosperity and sophistication is driving future growth. market research