Expanded Skincare Industry from Medications to Achieve a Valuation of USD 65.5 Billion by 2034, Anticipated to Grow at a Rate of 5.4% Each Year
In the realm of skincare, the past few years have seen significant growth and development, with major players making strategic moves to strengthen their positions.
In 2024, Organon, a prominent name in women's healthcare and dermatology, completed the acquisition of Dermavant Sciences Ltd. This move aimed to bolster Organon's presence in the skincare sector. Meanwhile, L'Oréal Groupe announced an agreement to acquire Dr.G, a Korean skincare brand, in December of the same year.
Skin Pharm, another key player, secured a $15 million growth investment from Prelude Growth Partners in 2023. This funding will support Skin Pharm's expansion, contributing to the overall growth of the medicated skincare market.
The medicated skincare market is poised for steady growth, driven by rising awareness of skin health, increasing cases of chronic skin conditions, and continued advancements in dermatological formulations. North America continues to lead this market, supported by a strong healthcare infrastructure and consumer engagement.
Despite challenges such as regulatory hurdles and intense competition, the market outlook remains positive, with strong potential for future expansion. Emerging trends, such as biotechnology integration, natural ingredient preferences, and minimalist skincare routines, are shaping innovation in the medicated skincare market.
Over-the-counter options dominate the medicated skincare market due to their accessibility. Key product segments like acne and anti-inflammatory treatments remain in high demand. The global medicated skincare market is a competitive space, with companies like Galderma Laboratories, Johnson & Johnson, L'Oréal S.A., Beiersdorf AG, Procter & Gamble Co., Unilever Plc., Neocutis, SkinCeuticals, Obagi Medical, Dermalogica, La Roche-Posay, Murad, and PCA Skin leading the way.
In 2024, North America held the largest market share of 31.5% in the global medicated skincare market, with a market value of approximately USD 12.19 billion. Shiseido Company, Limited acquired DDG Skincare Holdings LLC in 2023 to strengthen its premium skincare segment in the U.S. market.
In 2025, Obagi Medical introduced two new products under its SUZANOBAGIMD® line, while American Exchange Group expanded its presence in skincare by acquiring Urban Skin Rx. The top 10 companies in the global medical skincare market in 2023 included Bayer AG (Germany), Arkopharma Laboratories Pharmaceutiques (France), Glanbia Plc (Ireland), and RINGANA (Austria) among key players in pharmaceutical, natural, and cosmetic skincare sectors.
The medicated skincare market continues to evolve, with exciting developments and strategic moves from major players shaping the future of skincare.
