The global cosmetics for diabetics market size was valued at USD 366 million by 2021. It is anticipated to reach an expected value of USD 585 million by 2030 at a CAGR of 5.5% during the forecast period (2022-2030).
Diabetic cosmetics help to hydrate, soothe, and relieve the look of extra dry skin, infection, thickening, or compromised skin. According to the World Health Organization (WHO), the rising number of incidences of diabetes is one of the critical drivers for the diabetes cosmetic market. In addition, research & development initiatives, technological advancements, and changing lifestyles are the prominent factors propelling the market's growth.
The increasing prevalence of diabetes across the globe in the developed, emerging, and growing regions, including Europe, North America, Latin America, and Asia Pacific, due to hereditary reasons, change in lifestyle, and deteriorating nutritional level of food consumed is one of the major factors driving the global market. More than 40% of people with diabetes also suffer from itchy and dry skin and rough foot conditions due to an inadequate supply of blood to the body parts. In recent years, the rise in the severity of diabetic conditions and complications has been fetching patients' attention toward routine care and diabetic management.
The regular launch of highly effective products from world-renowned cosmetics for people with diabetes-producing companies globally is one of the prime factors in fetching consumers' attention towards routine care of diabetic conditions. Increased investment towards marketing the products launched by companies is the other factor supporting the global cosmetics for diabetics market through the rising importance of routine care of diabetic complications. According to the American Diabetes Association (ADA), about 33% of diabetic patients may develop some skin disorder caused by or affected by diabetes, ultimately increasing the importance of routine care of diabetic complications management.
Emerging markets are always harder to crack and expand sales into due to the ever-changing dynamics of these markets. The performance of the companies in these regions is always critical, depending upon the change of international trade policies and changing political environment in all the countries. Players in emerging markets, including Asia Pacific, suffer from a lack of sales due to a lack of investment in marketing and supply chains. Lack of investment in marketing results in low awareness and penetration of cosmetics for people with diabetes in emerging regions.
Lack of governmental support in most emerging countries due to consideration of diabetic complications as an underlying and ignored condition is one of the major factors restraining the cosmetics for diabetics market in emerging regions. The government of emerging regions focuses on investing in various factors, which generally leaves education and awareness regarding diseases left behind, resulting in the slow growth of such markets in these regions.
Players in the cosmetics for diabetics market have launched several attractive marketing campaigns for skincare products for diabetic complications care, resulting in significant popularity growth for such products. Among these strategic marketing campaigns, word-of-mouth marketing and smart use of years of legacy of some products, including Vaseline and others, be the most successful. Despite products being sold in the international market, producers have been indulging in further research and development processes to increase product efficacy significantly.
Launching highly effective and advanced products in the market has led to a rise in the popularity of skincare products for diabetic complications care. Increasing awareness regarding diabetic complications care through patient education has resulted in the growing popularity of skincare products. Increasing cases of common foot problems that may result in infection or severe complications in diabetic patients, including fungal infection of the nails, corns and calluses, blisters, dry and cracked skin, and foot ulcers, have been steadily increasing popularity of skincare products since last few years.
The global cosmetics for diabetics market is segmented by type, complication, and region.
Based on type, the global market is segmented into hand care, foot creams & lotions, shower gels and body lotions, face creams, and other types. The foot creams & lotions segment accounted for the largest market share and is estimated to grow at a CAGR of 6.0% during the forecast period. More products available as creams in the global market is one of the major drivers for the foot creams & lotions segment in the global market. Companies indulge in research and development for cream-based products for diabetic foot conditions. Cream-based products have higher efficacy than lotions, a crucial characteristic of the foot creams & lotions segment, supporting the global cosmetics for diabetics market growth. Cream products are easy to use, package, and apply, which has increased the adoption of cream products. Quick and easy use is among the significant factors driving the market growth.
The hand care segment is the second largest. Hand care product is used as a moisturizer to avoid or treat minor skin irritations and dry, scaly, rough, and itchy skin. Emollients are substances that moisturize and soften the skin and tend to decrease flaking and itching. Some products, including white petrolatum and zinc oxide, are mainly used to protect the hand skin against irritation arising from wetness. Moisturizers and emollients function by creating an oily coating on top of the skin to trap water in the skin since dry hand skin is brought on by a loss of water in the upper layer of the skin.
Based on complications, the global market is segmented into Acanthosis Nigricans, diabetic blisters, thickened skin, diabetic dermopathy, fungal infection, and other complications. The fungal infection segment dominated the market and is anticipated to register a CAGR of 6.1% during the forecast period. Diseases can be brought on by viruses, bacteria, and fungi, including yeast if the patient's immune system cannot keep the levels under control. According to the 2018 study, which analyzed information from more than 300,000 individuals, a person with type 1 or type 2 diabetes had a higher chance of infection, including yeast infection, than a person without the illness. Diabetes patients may experience symptoms that develop and deteriorate more quickly than non-diabetics, and infections may also be more challenging to treat.
The diabetic dermopathy segment is the second largest. Diabetic dermopathy is a fairly common skin problem for people living with diabetes. The condition does not occur in every patient with diabetes. It is estimated that up to 50% of people with diabetes will develop some form of dermatosis, including diabetic dermopathy. The condition causes small lesions on the patient's skin. They can be brownish or reddish and are usually oval or round. Lesions can occur anywhere on the body but tend to develop on bony parts. Diabetic dermopathy is sometimes referred to as pigmented pretibial patches or shin spots.
The thickened skin segment is the second largest. The medical term for this ailment is digital sclerosis, and it can cause thickened skin to appear on the fingers, toes, or both. Patients could notice tight, waxy skin on the backs of their hands. It can be challenging to move stiff fingers. Diabetes might feel like pebbles in the fingertips if it has been poorly managed for years. Thick, hard, and swollen-looking skin can spread, appearing on the upper arms and forearms. It can also develop on the neck, upper back, and shoulders. Sometimes, the thickening skin spreads to the chest, face, and shoulders.
Based on region, the global cosmetics for diabetics market is segmented into North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa.
North America dominated the market share and is estimated to register a CAGR of 5.3% during the forecast period. People are financially burdened by diabetes and its numerous accompanying consequences, such as dry, itchy skin and foot. In people with diabetes across North America, it has been noted that the prevalence of diabetic complications is rising. An increased number of people are suffering from diabetic complications due to ignorance of the underlying condition. An increasing number of diabetic patients suffering from diabetic complications have ultimately increased demand for products such as cosmetics for people with diabetes. The market is expanding due to higher healthcare costs and significant penetration of insurance plans that cover diabetes and its consequences. The American Diabetes Association reports that the overall price of diabetes diagnosis increased from USD 245 billion in 2012 to USD 327 billion in 2017, with 67.3% of the cost paid by government insurance. Marketing campaigns by the market players established in North America are expected to increase awareness regarding diabetic complications among patients, which is expected to drive the overall North American cosmetics for diabetics market.
Europe is the second largest region. It is anticipated to reach an estimated value of USD 164 million by 2030 at a CAGR of 4.8%. One of the leading causes of the higher risk of diabetic complications in the area is poor diabetic control. This is followed by an increasing number of diabetic patients, which further increases the rate of patients with diabetic complications across the U.K, Germany, France, and other European countries. It is witnessed that the number of diabetes-related admissions of children and young people was high during 2014–2015. The region has a higher prevalence of the condition in young patients tending, ignoring the underlying condition of diabetic complications and females living in deprived areas. The rising prevalence of diabetes is putting pressure on the healthcare systems and compelling higher expenditure. According to the International Diabetes Federation, Europe spent over USD 105.5 billion on diabetes in 2010, and the cost is expected to reach USD 124.6 billion by 2030. The presence of world-renowned players across Europe with established supply chains and a significant hold over the European market is expected to support the Europe cosmetics for diabetics market.
Asia Pacific is the third largest region. China has a large diabetic population and is likely to emerge among the top global market countries. This can be attributed to the increasing obese population, calorie-rich foods, and the sedentary nature of standard work practices. In China, around 110 million people are living with diabetes, which is expected to reach 150 million by 2040. This rising prevalence of diabetes is also likely to increase the occurrence of diabetic complications in patients. China is heavily investing in controlling the prevalence of diabetes and its complications, further supporting market growth. China invested around USD 110 billion in diabetes healthcare in 2017, the International Diabetes Federation (IDF). Japan has an established healthcare infrastructure and spends relatively higher on healthcare than most other OECD countries. For instance, in 2017, Japan invested around USD 28 billion in diabetes care, IDF.
Additionally, admission rates for people with diabetes are higher in the region. The strong presence of manufacturers engaged in providing innovative diabetes solutions is also strengthening the healthcare sector in Japan. The Japanese government is also trying to create awareness regarding diabetes nationwide by collaborating with various organizations like the Japan Association for Diabetes Education. The prevalence of diabetes is increasing globally, and the situation is more critical in developing nations. The increasing prevalence of diabetes and complicated conditions associated with diabetes, including retinopathy, neuropathy, and nephropathy, offer growth potential for the Asia Pacific market.
Major companies in the global cosmetics for diabetics market are
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