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Medicated Skincare - US - July 2016

Published By :

Mintel

Published Date : Jul 2016

Category :

Skincare

No. of Pages : N/A

The rate of growth for medicated skincare market continues to decelerate. Anti-itch treatments remain the strongest performing segment, while foot medications, cold sore treatments, and skin growth removers continue to stagnate. Alternative treatment methods – from self-healing to home remedies and prescription care to general skincare –further exasperate the already competitive environment surrounding medicated skincare. Beyond multifunctional and cosmetic benefits, innovation that incorporates natural ingredients, increases product transparency/education, and delivers convenient format solutions present opportunities for growth.

Table of Content

Overview

What you need to know
Definition

Executive Summary

The issues
Slow overall growth in a mature and competitive market
Figure 1: Total US sales and fan chart forecast of medicated skincare, at current prices, 2011-21
Aging population presents long term obstacle
Figure 2: Select skin irritations experienced, by age, May 2016
Alternative treatment methods are common solution for skin irritations
Figure 3: Methods for skin treatment, May 2016
The opportunities
Reinvigorate category awareness
Figure 4: Purchase influencers, May 2016
Adding value beyond multifunctional attributes
Figure 5: Select product innovations, by age, May 2016
Court Hispanic medicated skincare users
Figure 6: Skin irritations experienced, by Hispanic origin, May 2016
What it means

The Market – What You Need to Know

Slow growth in medicated skincare
Success in anti-itch treatments reflects multifunctional attributes
Competitive landscape adds to consumer confusion and apathy

Market Size and Forecast

Historic and projected sales performance of medicated skincare
Figure 7: Total US sales and fan chart forecast of medicated skincare, at current prices, 2011-21
Figure 8: Total US sales and forecast of medicated skincare, at current prices, 2011-21

Market Breakdown

Anti-itch treatments positively influence market performance
Figure 9: Total US retail sales of medicated skincare, by segment, at current prices, 2014 and 2016
Remaining segments struggle despite lack of alternative treatments
Figure 10: Share of US retail sales of medicated skincare, by segment, at current prices

Market Perspective

Personal care substitutions
Self-healing still common
Build relationships with physicians to elicit recommendations
Seeking out alternative solutions for better skin

Market Factors

Aging population provides short term benefit, but long term problem
Figure 11: Population aged 18 or older, by age, 2011-21
Hispanics offer opportunity for category growth
Figure 12: US Population, by Hispanic origin, 2011-21
Economy encourages willingness to spend for premium products
Figure 13: Consumer Sentiment Index, January 2007-May 2016

Key Players – What You Need to Know

Competitive and mature market challenges key players
Private label is a positive force in the market
Multifunctional and specialized anti-itch products trigger growth
Innovative efforts needed by leaders in other market segments
Developing products that showcase value-added features

Manufacturer Sales of Medicated Skincare

Competition between leading brands and private label remains strong
Manufacturer sales of medicated skincare
Figure 14: MULO sales of medicated skincare products, by leading companies, rolling 52 weeks 2015 and 2016

What’s Working?

Private label continues to be a positive force in market sales
Figure 15: MULO sales of private label medicated skincare products, by segment, rolling 52 weeks 2015 and 2016
Figure 16: Share of branded and private label medicated skincare product launches, 2011-16
Anti-itch segment aligns with broader personal care benefits
Figure 17: MULO sales of anti-itch treatments by leading companies and brands, rolling 52 weeks 2015 and 2016

What’s Struggling?

New products and updated brand positioning needed
Figure 18: MULO sales of foot care medications, by leading companies and brands, rolling 52 weeks 2015 and 2016
Figure 19: MULO sales of skin growth removers, by leading companies and brands, rolling 52 weeks 2015 and 2016
Figure 20: MULO sales of cold sore medication, by leading companies and brands, rolling 52 weeks 2015 and 2016

What’s Next?

Start with multifunctional capability...
…then add peripheral benefits

The Consumer – What You Need to Know

Opportunity is strong but challenged by alternative treatment methods
Limited need in treating foot ailments
Convenience claims are influential – opportunity to increase value
Sufferers treat specific need with tried and true products
Innovative future: Multifunctional, transparency/education, convenience

Skin Irritations and Methods for Treating

Dryness of skin and lips are top skin irritations
Figure 21: Skin irritations experienced, May 2016
Younger adults appear to be more susceptible to skin problems
Figure 22: Skin irritations experienced, by age, May 2016
Specific skin irritations are more pronounced among Hispanics
Figure 23: Skin irritations experienced, by Hispanic origin, May 2016
Host of alternatives to medicated skincare treatment
Figure 24: Methods for skin treatment, May 2016
Younger adults embrace natural/homeopathic remedies
Figure 25: Methods for skin treatment, by age, May 2016
Hispanics show interest in natural/homeopathic remedies
Figure 26: Methods for skin treatment, by Hispanic origin, May 2016

Foot Irritations and Methods for Treating

Foot irritations affect a modest percentage of adults
Figure 27: Foot irritations experienced, May 2016
Lifestyles provide impetus for foot ailments
Figure 28: Foot irritations experienced, by gender and age, may 2016
Consumer education is an effective way to target Hispanics
Figure 29: Foot irritations experienced, by Hispanic origin, may 2016
Skincare products are the “go to” treatment method for foot ailments
Figure 30: Methods for treating foot ailments, May 2016
Men are receptive to a variety of foot treatment methods
Figure 31: Methods for treating foot ailments, by gender, May 2016

Purchase Influencers

Convenience and price are topmost purchase influencers
Figure 32: Purchase influencers, May 2016
Product reviews influence purchase decisions of 18-34s
Figure 33: Purchase influencers – Product reviews, by age, May 2016
Specific skin irritations are more pronounced among Hispanics
Figure 34: Purchase influencers – Product reviews and natural ingredients, by Hispanic origin, May 2016

Purchase Behaviors

Multifunctional products could positively influence purchase behaviors
Figure 35: Purchase behaviors, May 2016
Under-35s do research and buy online
Figure 36: Purchase behaviors, by age, May 2016
Hispanics are more likely to feel embarrassed by skin conditions
Figure 37: Purchase behaviors, by Hispanic origin, may 2016

Interest in Innovations

Strong interest in multifunctional products and transparency
Figure 38: Product innovations – Interested, May 2016
Young adults want added value in new products
Figure 39: Product innovations – Interested, by age, May 2016
Hispanics willing to take vitamins to prevent skin conditions
Figure 40: Product innovations – Interested, by Hispanic origin, May 2016
CHAID analysis
Figure 41: Interest in medicated Skincare products with added benefits – CHAID – Tree output, May 2016
Figure 42: Interest in vitamins for preventing skin irritations – CHAID – Tree output, May 2016
Figure 43: Product innovations – CHAID – Table output, May 2016
Methodology

Appendix – Data Sources and Abbreviations

Data sources
Sales data
Fan chart forecast
Consumer survey data
Abbreviations and terms
Abbreviations
Terms

Appendix – Market

Figure 44: Total US sales and forecast of medicated skincare, at inflation-adjusted prices, 2010-20
Figure 45: Total US retail sales and forecast of medicated skincare, by segment, at current prices, 2011-21
Figure 46: Total US retail sales of medicated skincare, by channel, at current prices, 2014 and 2016

List of Table

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