South Korea Anti-acne Dermal Patch Industry Overview
The South Korea anti-acne dermal patch market size is valued at USD 55.2 million in 2021 and is expected to register a compound annual growth rate (CAGR) of 7.1% from 2022 to 2030.
The anti-acne dermal patch is a medicated pimple patch filled with active ingredients that helps to eliminate the acne-causing bacteria and reduce inflammation. These patches improve the absorption of the active ingredients into the skin thus reducing pain, bumps, and redness, and are effective in curing inflamed acne, such as papules. The rising incidence of skin conditions such as severe acne and pimples is anticipated to drive the market for anti-acne dermal patches. Increasing demand for instant acne treatment and medication is one of the major factors supporting the growth of the market. Furthermore, the growing demand for anti-acne dermal patches among the population especially among the teenage group and young adults owing to its mass marketing across the social media platforms has also boosted its adoption over the past few years.
Gather more insights about the market drivers, restrains and growth of the South Korea Anti-acne Dermal Patch Market
However, the advent of the COVID-19 pandemic has hugely affected the overall market for anti-acne dermal patches. The given COVID-19 restrictions have significantly impacted the beauty and personal care industry. Owing the initial lockdown imposed across the world has led to a decline in sales of beauty products including acne patches, especially across the brick-and-mortar stores. Disruption in the supply chain and closure of cosmetic manufacturing plants across the globe are a few of the factors that have led to the significant decline in the growth rate of the anti-acne dermal patch industry in 2020. For instance, as per an article published by the Baird Investment Advisor Co., Ltd., the parent beauty, and personal care industry has witnessed a decline of 2-3% in 2020.
However, the market witnessed a revenue rebound in 2021, owing to the surge in demand for online platforms delivering acne products including patches. For instance, as per Peace Out Company; a beauty and personal care company building on the popularity of its acne dot reported a 131.0% growth in its revenue in 2021 from online sales of its products including acne patches. Hence, the growing demand for online portals has significantly mitigated the negative impact of the COVID-19 pandemic on the anti-acne dermal patch industry, thus reflecting a growth trajectory from 2021. Moreover, an increasing number of companies involved in the market are focusing on inorganic strategic partnerships to expand their target customers, thus mitigating the negative impact of the COVID-19 pandemic. The South Korea anti-acne dermal patch segment is expected to witness a growth of 7.1% during the forecast period. Other key growth factors include increasing demand for increasing focus on aesthetic appearance, rising focus on the middle-class population, and psychological burden associated with acne.
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- Anti-acne Dermal Patch Market - The global anti-acne dermal patch market size was valued at USD 510.8 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% from 2022 to 2030. The anti-acne dermal patch is a medicated pimple patch filled with active ingredients that helps to eliminate the acne-causing bacteria and reduce inflammation.
- Hydrocolloids Market - The global hydrocolloids market size was estimated at USD 9.31 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 6.6% from 2020 to 2025. Growing demand for thickeners and gelling agents from pharmaceutical, personal care, and cosmetics, and food and beverage industries, in the emerging economies of Asia Pacific, is driving the growth.
South Korea Anti-acne Dermal Patch Market Segmentation
Grand View Research has segmented the South Korea anti-acne dermal patch market based on product, age, and distribution channel
South Korea Anti-acne Dermal Patch Product Type Outlook (Revenue, USD Million, 2018 - 2030)
- Chemical based
- Herbal based
South Korea Anti-acne Dermal Patch Age Group Outlook (Revenue, USD Million, 2018 - 2030)
- 10 to17
- 18 to 44
- 45 to 64
- 65+
South Korea Anti-acne Dermal Patch Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
- Retail Stores
- Pharmacy And Drug Stores
- E-commerce Platforms
Market Share Insights
- September 2021: COSRX leading as skincare brand and known as the best in all Anti-acne dermal patch market product launched the upgraded COSRX master patch intensive, an upgraded version of the hydrocolloid patches that form a protective, air-tight, healing seal around the blemishes.
- 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.
Key Companies profiled:
Some prominent players in the South Korea anti-acne dermal patch market include
- Hero Cosmetics
- COSRX
- Neogen Dermalogy
- CNP Laboratory
- Innisfree
- NICO MEDICAL CO. LTD.
- Daewoong Pharmaceutical
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