The Skin Barrier Products is Estimated to Witness High Growth Owing to Rising Skin Care Awareness
Skin barrier products are used to protect and maintain the protective functions of the skin barrier. They hydrate, nourish and strengthen the skin barrier by providing essential lipids and ceramides. Some key skin barrier products include barrier creams, barrier sprays/mists and barrier ointments. Barrier creams form an occlusive layer on the skin surface to prevent moisture loss while barrier sprays/mists work by depositing minerals and vitamins on skin's surface. Barrier ointments are thick in consistency and effectively seal the skin surface.
The global skin barrier products market is estimated to be valued at US$ 1063.94 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising skin care awareness is one of the major drivers for the growth of global skin barrier products market. Consumers are increasingly becoming aware about the importance of maintaining skin barrier health and protecting the skin from various environmental aggressors. As a result, demand for specialized skin barrier protecting products designed to hydrate, calm and restore the skin barrier is on the rise. Additionally, the growing personal care and cosmetics industry has led to wider availability and enhanced marketing of skin barrier products. Manufacturers are focusing on barrier strengthening formulations with natural and soothing ingredients to cater to rising demand. Furthermore, increasing Internet penetration is enabling consumers to access skin barrier education resources online, thereby propelling the market growth.
SWOT Analysis
Strength: Skin barrier products have wide applications in healthcare, including wound care and maintaining skin health. They form an effective protective layer on the skin and help retain moisture. Growing awareness about skin care is driving demand for these products.
Weakness: Development of new skin barrier products requires extensive research and clinical trials, making them costly. Some patients also report side effects such as skin irritation with continued usage.
Opportunity: The rising geriatric population prone to skin ailments and wounds presents an opportunity. Technological advances are enabling development of innovative barrier formulations for wound care and protection against external agents.
Threats: Stringent regulatory norms delay product approvals and market entry. Economic slowdowns can decrease discretionary spending on skincare. Substitutes such as petroleum jelly also meet basic moisture barrier needs.
Key Takeaways
Global Skin Barrier Products Market Size is expected to witness high growth over the forecast period owing to the rising geriatric population susceptible to skin issues. The global skin barrier products market is estimated to be valued at US$ 1063.94 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030.
Regional analysis comprises
North America represents the largest market for skin barrier products. This is attributed to increased discretionary spending on skincare products and rising incidence of diabetes causing chronic wounds. Several market players are based in the US and Canada and invest heavily in R&D to develop innovative solutions.
Key players related content comprises
Key players operating in the skin barrier products market are Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Danaher (US), Becton, Dickinson and Company (US), 3M (US), Viatris Inc. (US), Cardinal Health (US), Molnlycke Health Care AB (Sweden). These companies have a significant market share and are focusing on product launches and geographical expansion to meet the growing demand.
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