Europe Physician Dispensed Cosmeceuticals Market

Europe Physician Dispensed Cosmeceuticals Market Size (2023 to 2028)

The physician-dispensed cosmeceuticals market size in Europe is expected to be valued at USD 3.82 bn by 2028 from USD 2.72 bn in 2023, growing at a CAGR of 6.97% from 2023 to 2028.

The growing beauty consciousness among the population of the European region majorly fuels the growth rate of the European physician-dispensed cosmeceuticals market. Lifestyle changes, consumption of fatty foods, hormonal changes, and habits such as smoking and alcohol consumption have resulted in changes in skin texture and dullness, leading to acne, wrinkles, dark circles, and other skin issues. A recent survey conducted in the United Kingdom revealed that nearly 95 percent of the population suffers from acne. The increasing geriatric population, the growing use of social media, and the expanding beauty clinic industry further contribute to the demand for physician-dispensed cosmeceutical products. These trends offer significant opportunities for the market participants of the regional market.

The rising awareness among the population about the safety and efficacy of cosmeceutical products further contributes to the growth of the European physician-dispensed cosmeceuticals market. With a growing emphasis on appearance in both professional and personal settings, individuals increasingly turn to physician-dispensed cosmeceuticals for their skincare needs.

In addition, the growing demand for anti-aging and skin rejuvenation products, increasing prevalence of skin diseases and disorders, rising awareness about the safety and efficacy of physician-dispensed cosmeceuticals, advancements in technology and product innovations and rising preference for non-invasive cosmetic procedures boost the growth rate of the European physician dispensed cosmeceuticals market. Furthermore, the rapidly expanding geriatric population base, growing use of social media and influence of beauty bloggers and influencers, availability of a wide range of products catering to different skin types and concerns and rising number of beauty clinics and medispas offering physician-dispensed cosmeceuticals in the European region fuel the market’s growth rate in this region.

On the other hand, the high costs associated with the treatments and physician-dispensed cosmeceutical products is one of the key factors hampering the regional market. Factors such as the poor awareness about physician-dispensed cosmeceuticals among the European population, the lack of skilled professionals and the long time for approval of novel devices further hinder the regional market growth.

This research report on the Europe physician-dispensed cosmeceuticals market has been segmented and sub-segmented into the following categories.

By Type:

• Skin Care
  • Anti-aging
  • Sunscreens
  • Other Skin Care Products
• Eye Care
  • Eye Drops
  • Other Eye Care Products
• Hair Care
  • Hair Repair
  • Anti-dandruff
  • Other Hair care Products

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

The European region accounted for a substantial share of the global market in 2022 and is anticipated to witness a promising CAGR during the forecast period owing to the growing adoption of advanced treatment in the aesthetic sector and increasing healthcare expenditure by the European population. With a plethora of beauty companies operating in the region, there is a strong focus on developing physician-dispensed cosmeceutical products to meet the growing demand. These companies have been able to leverage various types of cosmeceutical brands to develop products that meet the requirements of skin healthcare researchers, thereby boosting demand for their offerings. In addition, the increasing advertisement of physician-dispensed cosmeceutical products by the brands and their sponsors through television and social media has significantly contributed to the market's growth, enabling them to reach a wider audience.

The UK market had the leading share of the European market in 2022 and is expected to continue to be the largest regional market in Europe for the physician-dispensed cosmeceuticals market throughout the forecast period. The growing number of skilled professionals in the UK is one of the key factors propelling the UK market growth. The UK government has taken several measures to regulate the supply of dispensed cosmeceutical products, mandating that they can only be provided by registered or licensed medical practitioners. Furthermore, key players in the product manufacturing industry have established several training centers to help medical professionals learn more about advanced and novel physician-dispensed cosmeceutical products, further driving the market's growth in the region.

Germany had a notable share of the European physician-dispensed cosmeceutical market in 2022 and is expected to grow promisingly during the forecast period owing to the increasing government support for dispensed cosmeceuticals in the country's population. The presence of various manufacturing facilities and clinical centers in the country has also played a critical role in driving the market's demand. As the market continues to expand, businesses operating in this space have opportunities to capitalize on the growing demand and expand their market share.

KEY MARKET PLAYERS:

Allergan, Galderma, Merz Pharma, Valeant Pharmaceuticals and ZO Skin Health are some of the notable players in the European physician dispensed cosmeceuticals market.