“Rising Aging Population and Convergence of Cosmetics with Pharma to bring Exponential rise in Premium Cosmeceuticals Segment”, says RNCOS
According to a new research report by RNCOS entitled, “India Premium Cosmeceuticals Market Outlook 2022”, the premium cosmoceuticals have gained huge attractiveness in past couple of years due to its attractive benefits and convenience. The major growth drivers of the industry are raising aging population, increasing affordability and convergence of cosmetics with pharma to bring exponential rise in premium cosmeceuticals segment.
The cosmeceuticals usage in India has significantly risen in recent years. It is one of the fastest growing areas of the cosmetic industry in India. It has been successful in displaying consistent expansion and evolution and thereby registering higher and higher profit margins. Premium cosmeceuticals brands are also now contemplating to enter into this lucrative segment of beauty and cosmetics.
Injectables constitute a small portion in the Indian premium cosmeceutical market and are expected to grow in future backed by the factors such as prevalence of chronic diseases, growth of the biologics market, demand of self-injection devices, and technological advancements. The Injectables market accounts only 10% of the Indian premium cosmeceutical market
Based on the product type Indian injectable market is segmented into formulations and devices. Formulations for injectables are sub divided into conventional drug delivery formulation, new drug delivery formulation and long acting formulation. On the other hand, devices are classified into: injectable devices, self injection devices and other such as microneedles, nano-needles and blund needle injection.
Based on the usage the market is segmented into intramuscular and subcutaneous. Intramuscular injections are injected in muscle tissue, buttocks. Whereas subcutaneous injections are shots that are injected in to the fatty tissue.
Demand for injectable products is increasing at a significant pace in India, due to increasing consciousness among consumers. To meet this demand, Indian cosmeceutical companies are launching injectable products and treatments to treat anti ageing problems and other skin related issues. The injectable market has gained huge popularity in the recent years as people are accepting the injectable cosmeceutical products quite easily because of their certain benefits. The demand for dermal filler is also growing as many companies are launching innovative injectable products for men as well as women.
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