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Professional Skin Care Market Bounces Back
Posted: April 8, 2011
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Professional skin care outlets are also increasingly expanding their portfolios to gain a competitive advantage. For example, beauty institutes are broadening their offerings by adding services typically offered by other channels, including body treatments, massages and minimally invasive esthetic procedures, that are performed by medical professionals affiliated with the institute.
In the medical care providers channel, the focus is shifting towards less invasive procedures. For example, the demand for injectibles such as Botox, Dysport and Restylane has experienced very strong growth. As a result, doctors are adding more less invasive procedures to their offerings and supporting them with strong promotional activity. As more customers trade down and replace surgical cosmetic procedures with nonsurgical ones, many are opting for professional skin care products to avoid going under the knife.
In some regions, regulations limit the dispensing of professional skin care products by medical professionals. For example, in most European markets, dispensing skin care products to patients is complicated or entirely prohibited. Conversely, in the United States, where distribution is unencumbered, various types of physicians including gynecologists and dentists turn to professional skin care to increase their revenue. As a result, the channel is expected to experience the highest five-year compound annual growth rate (CAGR) in the region of 9.6% through 2015.
A targeted treatment
Today’s professional skin care market is all about providing products that are well-suited to meet the needs of specific skin care concerns. In order to respond to a wide variety of conditions and changing demands, manufacturers are expanding the scope of their assortments to provide more targeted products. In the anti-ageing category, for example, this has meant an increased segmentation, with more products specialized for different age groups, skin types and color, skin problems, gender, and lifestyle. For example, new products targeting young consumers have been introduced, as awareness of the benefits of using preventative facial care products is growing.
The motivation behind expanding the anti-aging category is logical, as anti-aging is the number one concern across the professional skin care markets of Europe, the United States, and Japan. Almost one-half of all sales in these markets are for anti-aging products; a trend that is likely to prevail, as customers feel the need to look young navigating through the post-recession job market.