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MEDICATED SKINCARE - US - JULY 2018

Published By :

Mintel

Published Date : Jul 2018

Category :

Cosmetic

No. of Pages : N/A

The medicated skincare market grew by 0.4% in 2017 and will reach an estimated $1.1 billion in 2018; an increase of just $14 million. Through 2023, Mintel estimates that the market will add between 1% and 3% per annum. Better prevention, oral medications, and non-medicated products will continue to challenge the category.

Yet, there are opportunities. Multifunctional products, fast-acting cold sore and skin growth removers and ancillary products that help consumers avoid the triggers of skin ailments will allow forward looking brands to reinvent their portfolios for an evolving market.

Table of contents

OVERVIEW
What you need to know
Definition
EXECUTIVE SUMMARY
The issues
A growing performance gap between segments
Figure 1: Total US retail sales and forecast of medicated skincare products, by segment, at current prices, 2013-23
A blurring of medicated and herbal skincare
Figure 2: Treatment methods, May 2018
New, more effective drugs will challenge topical treatments
The opportunities
Multifunctional products and prevention will be the category’s salvation
Figure 3: Interest in innovations, May 2018
Faster treatment and cosmetic masking
What it means
THE MARKET – WHAT YOU NEED TO KNOW
A market in need of rejuvenation
There will be a growing performance gap between segments
Strike while the economy is hot
MARKET SIZE AND FORECAST
Historic and projected sales performance of medicated skincare
Figure 4: Total US sales and fan chart forecast of medicated skincare, at current prices, 2013-23
Figure 5: Total US sales and forecast of medicated skincare, at current prices, 2013-23
MARKET BREAKDOWN
General skin conditions will drive category growth
Figure 6: Total US retail sales and forecast of medicated skincare products, by segment, at current prices, 2013-23
Cold sores and skin growth products have less flexibility to innovate
MARKET PERSPECTIVE
Control the blur
There is opportunity to co-brand prescription and non-prescription products
Figure 7: Prescription medicine taken internally, by children in household, Millennials, and Hispanic status, May 2018
MARKET FACTORS
Strong consumer confidence will grow the category and substitute products
Figure 8: Consumer Sentiment Index, January 2007-May 2018
Hispanics make a strong test market
Figure 9: Population by Hispanic origin, 2013-23
KEY PLAYERS – WHAT YOU NEED TO KNOW
A few brands are responsible for most growth
An opportunity for multifunctional products
A blurring of medicinal and natural
Opportunities for cold sore brands
Homeopathic remedies are accelerating
Better hygiene means fewer warts
MANUFACTURER SALES OF MEDICATED SKINCARE
A few brands are responsible for most growth
Figure 10: MULO sales of medicated skincare products, by leading companies, rolling 52 weeks 2017 and 2018
WHAT’S WORKING?
An opportunity for multifunctional products
Figure 11: Multi-outlet sales of anti-itch treatments, by leading companies and brands, rolling 52 weeks 2017 and 2018
A blurring of medicinal and natural
Opportunities for cold sore brands
Figure 12: Multi-outlet sales of cold sore medications, by leading companies and brands, rolling 52 weeks 2017 and 2018
Cure cold sores faster
Cosmetic opportunities for cold sore medications
Figure 13: Interest in medicated skincare products that match skin tone, May 2018
Homeopathic remedies are accelerating
Figure 14: Use of homeopathic remedies to treat skin disorders, by age, August 2016
WHAT’S STRUGGLING?
Better hygiene means fewer warts
Figure 15: Multi-outlet sales of skin growth removers, by leading companies and brands, rolling 52 weeks 2017 and 2018
WHAT’S NEXT?
Oral drugs could disrupt the market
Figure 16: Prescription medicine taken internally, by children in household, Millennials, and Hispanic status, May 2018
THE CONSUMER – WHAT YOU NEED TO KNOW
Young adults report the most skin conditions
The rise of alternative healing
Support a preventative approach
Innovating for parents and the elderly
Promote “hero” ingredients
SKIN CONDITIONS
Adults are plagued by dryness while children have general skin irritations
Figure 17: Incidence of skin conditions, May 2018
Young adults report more skin conditions
Figure 18: Incidence of any skin conditions (net) – experienced myself, by age, may 2016 and May 2018
TREATMENT APPROACH
The rise of alternative healing
Figure 19: Treatment methods, May 2018
Younger consumers take the natural route
Figure 20: Select treatment methods, by age, May 2018
SKIN CONDITION TRIGGERS
Support a preventative approach
Figure 21: Factors impacting appearance of skin, any ranking (net*), October 2015
Figure 22: Triggers of skin conditions, May 2018
An ounce of prevention is worth a pound of brand equity
Figure 23: Triggers of skin conditions, by age, May 2018
PURCHASE INFLUENCERS
Speed and doctor recommendations are highly valued
Figure 24: Preferred attributes for medicated skincare products, may 2018
Innovating for parents and the elderly
Promote “hero” ingredients
Figure 25: Preferred select attributes for medicated skincare products, by age, May 2018
PURCHASE AND USAGE BEHAVIORS
Medicated products are purchased on an as needed basis
Figure 26: Purchase behaviors for medicated skincare products, May 2018
Parents and Hispanics want multifunctional products
Figure 27: Willing to spend on medicated skincare with multiple benefits, by children in household, Hispanic Millennials, Millennials, May 2018
PRODUCT INNOVATIONS
There’s a desire for trigger identification apps and products for seniors
Figure 28: Interest in innovations, May 2018
Hispanics are most interested in trigger identification apps
Figure 29: Interest in select innovations, by Millennials and Hispanic Millennials, May 2018
APPENDIX – DATA SOURCES AND ABBREVIATIONS
Data sources
Sales data
Fan chart forecast
Consumer survey data
Abbreviations and terms
Abbreviations
APPENDIX – THE MARKET
Figure 30: Total US sales and forecast of medicated skincare, at inflation-adjusted prices, 2013-23
Figure 31: Total US retail sales and forecast of medicated skincare products, by segment, at current prices, 2013-23
Figure 32: Total US retail sales of medicated skincare products, by channel, at current prices, 2013-18
APPENDIX – THE CONSUMER
Functionality and trust drive purchasing
Figure 33: TURF analysis – Purchase influencers, May 2018
Figure 34: Table - TURF analysis – Purchase influencers, May 2018
Methodology

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