The global retinoid market is on the brink of substantial expansion, with forecasts projecting a rise to USD 3.05 billion by 2034. This significant growth trajectory is set to follow a steady path, with the market expected to achieve USD 1.63 billion by 2024, driven by a moderate compound annual growth rate (CAGR) of 6.5%.
Key to this market surge is the escalating demand for preventive treatments. As patients increasingly seek to avoid high medical costs and severe health issues through early intervention, the role of retinoids—essential components in preventive skincare—has become more prominent. This heightened demand is energizing retinoid manufacturers and suppliers, spurring further advancements and market activity.
The recent shift towards minimally invasive treatments has also played a pivotal role in this growth. Medical professionals are increasingly favoring tablets, moisturizers, lotions, and other non-invasive therapies to manage and prevent complications. This trend has notably increased the demand for retinoids, which are fundamental to these therapeutic approaches.
Additionally, the rising prevalence of hair loss and damage has further amplified the need for retinoids. Their crucial role in restoring and maintaining physical health highlights their importance in addressing various skincare-related conditions, thereby driving market growth.
As the global retinoid market continues to evolve, it remains a critical sector within the healthcare and cosmetic industries. Advancements in preventive care and non-invasive treatments are set to further propel this market, solidifying its position as a key player in the industry’s future.
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
