Unprecendented Market Growth
Although the U.S. medical-dispensed skin care market has consistently grown in recent years, registering a CAGR of 10% since 2016, the market experienced an unprecedented 26% growth in 2021, compared to 2020, and another year of robust growth is expected to be reported for 2022, according to Kline’s Physician-Dispensed Skin Care: Perception and Satisfaction Survey.
As part of the survey, all key aesthetic physician types reported feeling very or extremely satisfied with their leading skin care suppliers, rating the suppliers with high-performance scores on all key attributes, including training and education and product portfolios.
Consumer Spending on Skin Care
Per the survey, 68% of physicians reported an increase in their skin care dispensing business in 2021, and more than 80% anticipate an increase this year as well. Most physicians also noted 11%–20% growth in 2022 for their dispensing business.
Dermatologists and medical spas are expecting inflation to creep into the market in 2023, with around 60% of each surveyed physician type anticipating consumer spending on skin care to sustain at current levels over the next year. Plastic surgeons, however, are showing more promise, with about 50% expecting their patients to increase spending on take-home skin care products.
More information on the Physician-Dispensed Skin Care: Perception and Satisfaction Survey is available on Kline's website.