Global Cosmetics For Diabetics Market Size, Share And Forecast To 2031

(MENAFN- Straits Research) Introduction

Diabetic cosmetics moisturize, soothe, and alleviate the appearance of dehydrated, infected, thickened, or blemished skin. According to the World health Organization (WHO), the increasing prevalence of diabetes is one of the most important market drivers for diabetes cosmetics. In addition, research and development initiatives, technical developments, and lifestyle changes are the primary factors driving the market growth.

Market Dynamics Rising Importance of Routine Care of diabetic Complications Management to Drive the Global Cosmetics for Diabetics Market

One of the major factors propelling the global cosmetics for diabetics market is the rising prevalence of diabetes in developed, emerging, and developing regions, including North America, Europe, Latin America, and Asia Pacific, due to hereditary factors, changes in lifestyle and deteriorating nutritional levels of food consumed. Due to inadequate blood flow, more than forty percent of persons with diabetes also experience itchy, dry skin and rough feet. In recent years, the severity of diabetic problems and complications has prompted patients to focus on routine treatment and diabetic management.

Regular releases of highly effective goods by globally famous cosmetics for diabetics manufacturers is one of the most critical aspects in attracting customer interest in the routine management of diabetic problems. In addition to the expanding relevance of regular care for diabetes problems, the worldwide cosmetics for diabetics market is supported by firms' increased marketing expenditures. According to the American Diabetes Association (ADA), around 33 percent of diabetic patients may develop a skin disorder caused or influenced by diabetes, enhancing routine diabetic complications management.

Numerous attractive marketing efforts for skincare products for diabetic complications care have been created by market participants in the cosmetics for diabetics industry, resulting in a considerable increase in popularity for these goods. Among these strategic marketing strategies, word-of-mouth marketing and judicious use of a product's legacy, such as Vaseline's, have shown to be the most effective. Even though products are marketed on the international market, makers have engaged in additional research and development to improve their efficacy dramatically.

The introduction of highly effective and innovative goods to the market has increased the need for diabetic complications care skin care products. Enhanced patient knowledge regarding the treatment of diabetic complications has increased the demand for skincare products. Since the last few years, the popularity of skincare products has steadily risen in response to the rising incidence of common foot problems that may result in infection or severe complications in diabetic patients, such as fungal infection of the nails, corns and calluses, blisters, dry and cracked skin, and foot ulcers.

Regional Insights

Based on region,
the global cosmetics for diabetics market is bifurcated into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

North America dominated the market and is estimated to register a CAGR of 5.3% during the forecast period.
Diabetes and its numerous effects, such as itchy and dry skin and foot, strain individuals financially. The prominence of diabetic complications among diabetes patients in North America has been found to rise. A growing number of individuals are afflicted with diabetic complications due to a lack of knowledge of the underlying illness. Ultimately, the increasing number of diabetic patients with diabetic complications has increased the demand for diabetic cosmetics.

Europe is the second largest region.
It is estimated to reach an expected USD 164 million by 2030 at a CAGR of 4.8%. One of the key contributors to the increased risk of diabetic complications in the region is inadequate diabetic control. This is followed by an increase in the number of diabetes patients, which raises the prevalence of patients with diabetic complications in the United Kingdom, Germany, France, and other European nations. During 2014–2015, there was a significant increase in pediatric and adolescent hospitalizations attributable to diabetes. Young patients with a propensity to ignore the underlying condition of diabetic complications and women living in impoverished areas are disproportionately affected. The increasing prevalence of diabetes is straining healthcare systems and driving up expenditures. According to the International Diabetes Federation, Europe spent more than 105,5 billion dollars on diabetes in 2010, and this amount is projected to increase to 124.6 billion dollars by 2030. The Europe cosmetics for diabetics market is anticipated to be bolstered by the presence of world-renowned firms with established supply chains and a significant presence in the European market.

Asia Pacific
is the third largest region. China has a significant diabetic population and is anticipated to become one of the world's leading countries in this industry. This can be attributable to several factors, including rising obesity rates, calorie-rich food consumption, and sedentary job behaviors. There are around 110 million diabetics in China, and the number is projected to reach 150 million by 2040. It is also anticipated that the incidence of diabetic complications will grow as the prevalence of diabetes rises. China is investing extensively in combating the prevalence of diabetes and its complications, bolstering the market growth. In 2017, China invested around USD 110 billion in diabetes care, according to the International Diabetes Federation (IDF). Japan has an established healthcare infrastructure and spends more on healthcare than most OECD nations. IDF estimates that Japan spent approximately USD 28 billion on diabetes care in 2017.

Additionally, diabetes-related hospitalization rates are more significant in the region. Japan's healthcare industry is bolstered by numerous enterprises developing breakthrough diabetic treatments. The Japanese government collaborates with several other groups, such as the Japan Association for Diabetes Education, to raise diabetes awareness nationwide. The prevalence of diabetes is increasing worldwide, making the situation direr in underdeveloped nations. According to a study, over 84 million individuals in Southeast Asia have diabetes, which is anticipated to rise to 156 million by 2045. The increasing prevalence of diabetes and accompanying complications, such as retinopathy, neuropathy, and nephropathy, offer growth opportunities for the Asia-Pacific market.

Key Highlights

• The global cosmetics for diabetics market 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).
  
• Based on type, the global cosmetics for diabetics market is segmented into hand care, foot creams & lotions, shower gels and body lotions, face creams, and other types. The foot creams & lotions segment dominated the market and is estimated to register a CAGR of 6.0% during the forecast period.
  
• Based on complications, the global cosmetics for diabetics 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 estimated to register a CAGR of 6.1% during the forecast period.