South Korea Anti-acne Dermal Patch Market Size, Share, and COVID-19 Impact Analysis, By Type (Chemical Based, Herbal Based), By Age Group (10 to 17, 18 to 44, 45 to 64, 65+), By Distribution Channel (Retail Stores, Pharmacy & Drug Stores, E-commerce Platforms), and South Korea Anti-acne Dermal Patch Market Insights Forecasts to 2032

Industry: Healthcare

RELEASE DATE Dec 2023
REPORT ID SI3116
PAGES 200
REPORT FORMAT PathSoft

South Korea Anti-acne Dermal Patch Market Insights Forecasts to 2032

  • The South Korea Anti-acne Dermal Patch Market Size was valued at USD 58.2 Million in 2022.
  • The Market Size is Growing at a CAGR of 7.1% from 2022 to 2032.
  • The South Korea Anti-acne Dermal Patch Market Size is expected to reach 115.6 Million by 2032.

South Korea Anti-acne Dermal Patch Market

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The South Korea Anti-acne Dermal Patch Market Size is expected to reach USD 115.6 Million by 2032, at a CAGR of 7.1% during the forecast period 2022 to 2032.

 

Market Overview

The anti-acne dermal patches improve active ingredient absorption into the skin, reducing redness, bumps, and pain. The rising prevalence of skin conditions such as severe acne is expected to drive the growth of the South Korean anti-acne dermal patch market. Further, teenagers and young adults are increasingly preferring anti-acne dermal patches due to their marketing on a mass scale in social media. Furthermore, the South Korean market is expected to be a key revenue generator for anti-acne dermal patches. Furthermore, the brisk Korean skincare movement and significant growth rates can be attributed to changing lifestyles, increasing disease awareness, and rising cosmetic expenditure. Furthermore, the growing emphasis on physical appearance as a result of a variety of factors is expected to facilitate growth opportunities.

 

Report Coverage

This research report categorizes the market for South Korea anti-acne dermal patch market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea anti-acne dermal patch market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korean anti-acne dermal patch market.

 

South Korea Anti-acne Dermal Patch Market Report Coverage

Report CoverageDetails
Base Year:2022
Market Size in 2022:USD 58.2 Million
Forecast Period:2022-2032
Forecast Period 2022-2032 CAGR:7.1%
2032 Value Projection:USD 115.6 Million
Historical Data for:2018-2021
No. of Pages:200
Tables, Charts & Figures:100
Segments covered:By Type, By Age Group, By Distribution Channel
Companies Covered: Hero Cosmetics, COSRX, NeoGen Dermalogy, CNP Laboratory, Innisfree, NICO MEDICAL CO. LTD., Daewoong Pharmaceutical, and Others
Pitfalls & Challenges:COVID-19 Empact, Challenges, Future, Growth, & Analysis

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Driving Factors

The rising incidence of skin conditions such as severe acne and pimples is expected to drive the anti-acne dermal patch market. One of the major factors driving market growth is the rising demand for instant acne treatment and medication. Furthermore, the growing demand for anti-acne dermal patches among the population, particularly among teenagers and young adults, as a result of its mass marketing on social media platforms has boosted its adoption during the forecast period. Many individuals prefer non-invasive acne treatment options. Consumers are drawn to anti-acne dermal patches because they are a non-invasive alternative to creams, lotions, and oral medications. South Korean consumers are known for placing a high value on skincare. The growing awareness of the importance of acne treatment and skincare routines contributes to the demand for anti-acne dermal patches.

 

Restraining Factors

While skincare awareness is high in South Korea, certain demographics or regions may have a low awareness of anti-acne dermal patches. This can stifle market growth in those sectors. Acne treatments other than antibiotics include topical creams, oral medications, and professional dermatological procedures. The availability of these alternatives may affect the use of anti-acne dermal patches.

 

Market Segment

  • In 2022, the herbal-based segment accounted for the largest revenue share over the forecast period.

Based on the type, the South Korean anti-acne dermal patch market is segmented into chemical-based and herbal-based. Among these, the herbal-based segment has the largest revenue share over the forecast period. When compared to chemical-based patches, the herbal-based anti-acne dermal patch segment is expected to dominate the market during the forecast period. Acne patches on the market are typically made of synthetic substances and chemicals such as hydrocolloids, salicylic acid, and so on. The herbal acne patch contains no synthetic ingredients and is made from naturally occurring ingredients such as silk and mulberries. Silk is made up of fibroin and sericin. Fibroin can stimulate fibroblast growth, allowing acne wounds to heal quickly.

 

In 2022, the 18 to 44 segments accounted for the largest revenue share over the forecast period.

Based on age group, the South Korean anti-acne dermal patch market is segmented into 10 to 17, 18 to 44, 45 to 64, and 65+. Among these, the 18 to 44 segments have the largest revenue share over the forecast period. This age group is susceptible to acne skin conditions due to a variety of factors such as poor dietary habits, hormonal changes, and stress.

 

In 2022, the pharmacy & drug stores segment accounted for the substantial growth over the forecast period.

Based on the distribution channel, the South Korean anti-acne dermal patch market is segmented into retail stores, pharmacy & drug stores, and e-commerce platforms. Among these, the pharmacy & drug stores segment accounted for the substantial growth over the forecast period. This growth can be attributed to the rising negative social stigma associated with beauty standards and post-acne scars. acne prevention products, such as dermal patches, are sold as over-the-counter products in pharmacies, making the product more accessible and contributing to market share.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korean anti-acne dermal patch market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Hero Cosmetics
  • COSRX
  • NeoGen Dermalogy
  • CNP Laboratory
  • Innisfree
  • NICO MEDICAL CO. LTD.
  • Daewoong Pharmaceutical
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Development

  • In January 2021, Hero Cosmetics, Inc., an award-winning leader in next-generation functional skincare, announced that it received a significant minority growth investment from Aria Growth Partners, a leading consumer-focused private equity firm. Hero will be able to fuel continued growth, product innovation, and expanded distribution of its innovative, highly effective, and reasonably priced skincare products as a result of the investment.

 

Market Segment

This study forecasts revenue at regional, and country levels from 2021 to 2032. Spherical Insights has segmented the South Korean anti-acne dermal patch market based on the below-mentioned segments:

South Korea Anti-acne Dermal Patch Market, By Type

  • Chemical Based
  • Herbal Based

South Korea Anti-acne Dermal Patch Market, By Age Group

  • 10 to 17
  • 18 to 44
  • 45 to 64
  • 65+

South Korea Anti-acne Dermal Patch Market, By Distribution Channel

  • Retail Stores
  • Pharmacy & Drug Stores
  • E-commerce Platforms

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