The global retinoid market is poised for substantial growth, with forecasts indicating it will reach an impressive USD 3.05 billion by 2034. This robust expansion is expected to follow a steady growth trajectory, with the market anticipated to hit USD 1.63 billion by 2024, driven by a moderate CAGR of 6.5%.
The surge in demand for preventive treatments is a key factor fueling this growth. As patients increasingly seek to avoid hefty medical bills and severe health complications through early intervention, the need for retinoids—crucial components in preventive skincare—is rising. This heightened demand is stimulating activity among retinoid manufacturers and suppliers, thereby propelling the market forward.
In recent years, the preference for minimal-invasive treatments has gained momentum. Medical professionals are prioritizing tablets, moisturizers, lotions, and other non-invasive therapies to mitigate complications. This trend has significantly boosted the demand for retinoids, which are integral to these therapeutic approaches.
Furthermore, the growing incidence of hair loss and damage has amplified the need for retinoids, as they play a vital role in restoring and maintaining physical health. The increasing prevalence of various skincare-related conditions further underscores the essential role of retinoids, contributing to the market’s robust growth.
As the global retinoid market continues to evolve, it remains a pivotal sector in the healthcare and cosmetic industries, driven by advancements in preventive care and non-invasive treatments.
Key Takeaways from the Market Study:
- The Russian market, due to its extreme weather conditions, provides the highest growth opportunities for the retinoid market. It is estimated to propel at a CAGR of 13.3%, the highest.
- The French cosmetic industry is attributed to the impressive retinoid market growth in the global market. It is anticipated to leap at a CAGR of 8.4% through 2034.
- The rising prevalence of acne cases in young adults in Latin America, the growth opportunities are rising in the region. Brazil estimates a CAGR of 5.8%.
- Synthetic retinoids, due to their wide applicability, are used the maximum, ensuring they will occupy 77.3% of market space by 2024.
“Due to the side effects of retinoids, alternative therapies and treatments are growing, affecting the growth opportunities of the subject market. This is a key market challenge,” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
See the Full Data Set: Download the Complete Report on the Retinoid Market
Competitive Landscape of the Retinoid Market:
Several multi-national medical institutions and organizations clutter the healthcare sector. Due to this, the industry experiences a great competitive force. Organizations strive to expand in the industry using strategic initiatives like partnerships, collaboration, and international expansion.
The following key developments have recently occurred in the market:-
- In September 2019, Mylan Pharmaceuticals Inc. and Eisai India entered a collaboration agreement that focused on commercializing Teceris, the second Eribulin Brand in India. This strategic initiative has helped the organization in bolstering its international position.
- In October 2023, GlaxoSmithKline Inc. partnered with Zhifei to produce vaccines in China. The latter will receive all rights to import and distribute vaccines of the organization in China. This will mark the presence of the organization in the international market.
Retinoid Market- Key Segments
By Type:
- Natural Retinoids
- Synthetic Retinoids
By Application:
- Acne
- Psoriasis
- Anti-aging
- Others
By Distribution Channel:
- Hospitals Pharmacies
- Online Pharmacies
- Retail Pharmacies
- Supermarkets / Hypermarkets
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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