Xerosis Market : Key Growth Factor, Industry Analysis 2019 – 2023
The global Xerosis Market has been observing continual growth and is expected to expand at a compound annual growth rate of 5.5% over the forecast period of 2017-2023, reveals Market Research Future (MRFR), in a recently published report. Driven by factors such as growing awareness, increasing incidences of skin irritation due to high pollution levels, the market is projected to attain USD 9.5 Billion by the end of 2023. Xerosis is a common condition during the winters and is primarily caused by humidity, over cleansing, dehydration and excessive exposure to the sun. Xerosis can also be caused by a deficiency of vitamin A, vitamin D, and also can be side effects of certain medications. The market is being driven by a rise in risk factors for xerosis such as pollution, diabetes, psoriasis, etc. which indirectly spurs the growth of the market. Moreover, high expenditure on personal healthcare, especially in the developing regions of the world is expected to be a plus for the market growth. On the flip side, the biggest market constraint is the self-correcting nature of the disease. In addition, in a bid to reduce the cost to sustain competition, various players have substituted high-cost materials with low-quality substitutes which reduces the credibility of the manufacturer.
The global xerosis market has been segmented based on treatment, causes, and end users. By treatment, the market has been segmented into emollients, moisturizer, humidifier, oils, and others. By causes, the market has been segmented into eczema, psoriasis, diabetes, hypothyroidism, aging, and others. By end users, the market has been segmented into hospitals, dermatology clinics, and home care.
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The global xerosis market spans across the regions of North America, Europe, Asia Pacific, and the Middle East & Africa. North America accounts for the maximum share of the market, the US being the key contributor to the market. Early adoption of new medications and medical devices in the region can be attributed for the growth of the market. Europe is the second largest market for xerosis owing to raising awareness about the disease and the presence of a well-developed healthcare sector. Additionally, the region invests heavily on R&D activities for the development of new drugs and therapies which fosters the growth of the market. Asia Pacific is anticipated to grow at a relatively faster rate and will be led by the emerging geographies of India and China. The Middle East & Africa market is expected to be led by the Gulf nations, particularly Saudi Arabia and UAE. The Africa region is expected to witness moderate growth due to poor economic conditions and low penetration of healthcare facilities.
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The notable players operating in the global xerosis market include Procter & Gamble, Avalon Organics, Galderma Laboratories, Unilever, Hempz, Avon, Beiersdorf, United-Guardian, Inc., Alba Botanica, Johnson & Johnson Consumer Inc., Clarins, L’Oréal, Croda International Plc, Estee Lauder, Dow Corning Corp. and others.
In August 2018, Clinique, a leading cosmetic brand, launched a new moisturizer which could be useful in treating xerosis. The moisturizer has been named the Dramatically different Hydrating Jelly and is lightweight and oil-free.