Skincare, Anti-Ageing Products Demand Grows: Cosmo Dermatology Next Big Thing in India

The pharmaceutical industry is witnessing a significant shift in focus towards dermatology, driven by the growing demand for skincare and aesthetic treatments. The derma market has experienced remarkable growth, with a compound annual growth rate (CAGR) of 8% on a moving annual total (MAT) basis, reaching a staggering Rs 13,860 crore.

These factors include fast-growing skin diseases due to pollution, increased demand for aesthetic dermatology procedures, increasing disposable incomes, and a rising population. With more and more people being conscious of their beauty and well-being, the boom of beauty centres has raised pharmaceutical companies' interest in this segment.

Cosmoderma therapy, a non-invasive treatment for enhancing the appearance of the skin, has become one of the key contributors to this boom. Cosmoderma contributes roughly 32% to the derma segment, against 23% five years ago. Big and small pharma companies now are investing in age-defying solutions realizing the gigantic potential of the market.

India has reached a stage where simple diseases can be treated and access to healthcare is available at low costs, according to Vishal Manchanda, pharma analyst. Now, not so long ago, patients were just coming in for treatment of the most common skin-related problems, forcing the demand for dermatology treatments.

This trend did not go unnoticed within the pharmaceutical industries, with several pharmaceutical companies looking to tap into the derma space. As far as growth is concerned, an interesting development will be how pharmaceutical companies innovate and adapt to the changing needs of the derma space, which continues its way forward.

And as demand for dermatological treatments increases, so can the pharmaceuticals' opportunities for contribution in this field. Given that innovation and much-needed investment combined with proper focus on patient needs will power the future of dermatology, things look indeed bright.

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