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Skincare products such as skin cleansers, hand sanitizer, skin conditioners, and surgical scrubs are increasingly used to maintain skin hygiene and to prevent the spread of infections. The rising prevalence of chronic diseases and increase in demand for hand sanitizers amid COVID-19 pandemic is expected to boost the growth of the skincare market.

Moreover, increasing incidence of hospital-acquired diseases such as surgical site infection (SSI) is creating opportunities for growth. Sales will surge further as a result of the increasing awareness about advanced skincare products. Social media & innovative online campaigns aimed at creating awareness are therefore reshaping the skincare market.

Increasing market consolidation activities, adoption of strategic agreements among the leading manufacturers and increasing research activities aimed at launching effective products are some of the factors enabling growth. Some of the leading players are aiming to strengthen their product portfolio by launching a various online campaign. For instance, in 2021, Galderma Laboratories, L.P.-Cetaphil launched an innovative digital campaign to connect with millions of consumers experiencing skin sensitivity.with the market expected to exhibit a CAGR of 8.1% during the forecast period (2021-2031)

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Key Takeaways from Skincare Market Study

• Skincare market is expected to rise at 8.1% CAGR between 2021 and 2031
• High willingness among consumers to spend on personal health and hygiene will drive growth in the U.S., which will account for over 85% of sales in North America by 2031
• The U.K. will remain a key market for skincare products within Europe. Rising demand from various hospitals, healthcare, and critical care centers will continue supporting growth
• Expansion of the healthcare sector will push growth in Germany, which will account for maximum skincare products sales within Europe’s healthcare sector
• Strong growth is likely in China, as consumers increasingly focus on hygiene and sanitization to prevent the risk of infection

“Rising Prevalence of Surgical-site infections and infective diseases and growing demand for hand sanitizers are driving the growth of global skincare market. Key players trying to partner with R&D Companies, patent licensees & holders, reputable manufacturers, prestigious universities, government agencies worldwide to develop and commercializing novel products based on pioneered and patented technologies,” said a lead FMI analyst.

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Who is Winning?

The leading manufacturers are focusing on research and development to develop effective and compatible skincare products that can meet the end-use demand. The current pandemic outbreaks and the growing demand for hand sanitizing product have led manufacturers to ramp up their research efforts to expand their product portfolio.

Besides this, several key players are focusing on market consolidation activities such as a merger, acquisition, supply distribution partnerships, and launching new products. This is leading to high competitiveness in the market. Key manufacturers are also keen to expand the market footprint.

For instance, in 2020, GOJO has expanded its product portfolio to increases sales of PURELL sanitizer, wipes, soap and surface spray by establishing a new manufacturing facility in Maple Heights and Navarre, Ohio.

Some of the market players covered by FMI include are 3M Company, Cardinal Health, Inc., Ecolab, Whiteley Corporation, Reckitt Benckiser Group PLC, Carrollclean, Johnson & Johnson Consumer Inc., Galderma Laboratories, L.P., PDI, Inc., Betco Corporation, Pal International, PSK Pharma Pvt. Ltd., Metrex Research, LLC., Gojo Industries, Inc., Unilever, Steris Plc, Procter & Gamble and among others consolidating their positions through mergers, acquisitions and new product launches.

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Future Market Insights (FMI) brings the comprehensive research report on forecast revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global skincare market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the skincare market on basis of product such as Skin Cleansers, Hand Sanitizers, Surgical Scrubs, Skin Conditioner and Other. Based on form the skincare market is segmented as Liquid, Gel & Lotions, Wipes and Spray & Foams. Based on end-users such as Hospitals, Clinics, Ambulatory Surgical Centers, Diagnostic Laboratories, Reference Laboratories, Rehabilitation Centers, Long Term Care Centers, Critical Care Centers, Pharmaceutical & Biotechnology Companies, Academics and Research Institutes and Homecare Settings across seven major regions.

According to a study by the Research and Development (RAND) Review blog published in 2017, nearly 60% of Americans have at least one chronic health condition, which often results in accelerating healthcare spending each year. With the incidence of chronic ailments and resultant spending on healthcare projected to spur, nasal sprays market will have positive growth on cards.

As per the report, the market’s overall valuation is likely to surpass US$ 15 Bn by 2021. Growth will continue at a positive rate, thanks to recent approvals to nasal migraine and hormonal therapies.

Among products available, nasal steroid spray will prove exceptionally lucrative, accounting for over 42% of sales in the market. Besides their improving availability, potential to offer relief from nasal allergies and  hay fever will drive growth in the category

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Key Takeaways from Nasal Spray Market Study   

• Rising at above 6% CAGR between 2021 and 2031, nasal sprays market will report consistent surge in demand
• The market in the U.S. is projected to a fast-growing one, accounting for more than 90% share in the North America market
• Government spending on healthcare has created a conducive environment for growth in the U.K.
• Germany will emerge as a leading market for nasal sprays sales in Europe backed by increasing healthcare spending and presence of leading manufacturers
• Focus on health and wellness will continue rising in Japan and South Korea, driving nasal spray sales in East Asia

“Manufacturers within the nasal sprays market are focusing on expanding their geographic footprint. Consequently, strategic collaborations and acquisitions have emerged as key strategy to achieve competitive edge,” said an analyst at FMI.

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Government Initiatives toward Nasal Spray Consumption

Governmental support for ongoing clinical research, consumption of Nasal Spray, and restricting misuse have favoured growth in demand for Nasal Spray. For instance, there has been a call for rise in production capacity of budesonide nasal spray which shortens COVID19 recovery time.

Since, nasal sprays are also used for depression patients, the market is likely to grow highly.

Who is Winning?

Nasal spray manufacturers with patented drugs are successfully allocating their distribution rights to local companies that are operational in the pain management business. This strategy provides momentum to the growth of these companies’ business, owing to strong demand for generic drugs.

For instance, In November 2019, Sandoz announced that it has entered into a binding agreement for the planned acquisition of the Japanese business of Aspen Global Incorporated (AGI), a wholly owned subsidiary of Aspen Pharmacare Holdings Limited.

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Nasal Spray Market by Category

Product

• Decongestant Sprays
• Nasal Steroid Sprays
• Nasal Antihistamine Sprays
• Nasal Cromolyn Sodium Sprays
• Nasal Anticholinergic Sprays
• Nasal Triamcinolone Sprays

Formulation

• Aqueous
• Hydroalcoholic
• Nonaqueous-Based Solution
• Suspension
• Emulsions
• Dry Powder/Micro particles

Packaging

• Pressurized Canisters
• Pump Bottles

The fundamental factor boosting the Surface disinfectants sales is the increasing occurrences of infections around the world. Direction from International associations such as the Center for Disease Control and Prevention (CDCP), World Health Organization (WHO), and International Federation of Infection Control (IFIC) often encourage disinfection to contain the spread of viruses, which will bode well for the market.

High level disinfectants, preferably in liquid form have emerged as top-selling products in the market, which hospitals will continue as the leading end user. The demand from hospitals segment is forecast to surge at above 6.4% CAGR.

Hospitals are receiving an increasing footfall of patients, besides which focus on ensuring improved patient care and a safe environment for patients as well as healthcare providers is fuelling disinfectant demand. Besides this, the aim at preventing the risk of hospital acquired infections will continue creating sales opportunities.

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Key Takeaways from Surface Disinfectants Market Study

• Surface disinfectants market will register growth at 8.8% CAGR. Sales are expected to surge amid COVID-19 outbreak
• The U.S. will spearhead growth in North America, accounting for maximum sales of surface disinfectants. Increasing healthcare spending will seal the dominance of the U.S.
• Presence of a sophisticated healthcare infrastructure catapults the U.K. as a lucrative market for surface disinfectants
• Germany and France will continue exhibiting high demand, thanks to increasing focus on health and wellness
• Post COVID-19, sales will rise at a remarkable pace in China, Japan, and South Korea

“Rise in prevalence of hospital acquired infections (HAIs), recent COVID-19 outbreak and growing healthcare spending, will continue driving sales,” said a lead analyst at Future Market Insights.

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Who is Winning?

To sustain the market, manufacturers are working towards development of innovative products that are not only suitable and required for surgeries in hospital but also for increasing the hygiene level of patients. This is because, when the patient is safe and away from HAIs he will be more co-operative throughout the procedure.

• For an instance, in 2021, P&G launched Microban 24, the new disinfectant brand in the UK, the product range offers unrivalled protection against bacteria in homes, not only initially killing 99.9% of bacteria and select viruses, including COVID-19 virus and flu virus, but continuing to kill bacteria for up to 24 hours, even after multiple touches.
• In 2020, Solvay launched two new products Actizone™ and Amni® Virus-Bac OFF at the forefront of innovation, which will eliminate and keep bacteria and viruses away from many surfaces and avoid cross-contamination.

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Valuable Insights into Surface Disinfectants Market

Future Market Insights, in its new report, offers an unbiased analysis of the global surface disinfectants market, analyzing historical demand from 2016-2020 and forecast statistics for 2021-2031. The study reveals growth projections on the aerosol packaging market on the basis of product type (high-level disinfectants, low level disinfectants, and intermediate level disinfectants), material (aluminum, tin plated steel, plastic, and glass), form (liquid, gel & lotions, wipes, and sprays & foams ) and end user (hospitals, dental clinics, ambulatory surgical centers, diagnostic laboratories, reference laboratories, rehabilitation centers, long term care centers, critical care centers, pharmaceutical & biotechnology companies, and academics and research institutes) across seven regions.

According to the study, contract manufacturing accounts for 3/4^th of all the CMO and CDMO services. Focus towards cost management, enhanced process flow, and better scalability will drive the market over the forecast period. Besides this, the increasing demand for skin care products, which also accounts for the leading share in terms of product type, will enable the market gain impetus in the coming years.

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Key Takeaways from CMO/CDMOs Market Study

• CMO/ CDMO services has become highly sought-after in pharmaceutical and beauty industries. FMI has projected the market to report 6.2% CAGR between 2020 and 2030
• The U.S. is expected to account for over 77% of sales in North America by 2030
• The U.K. will represent impressive scope for expansion, exhibiting above 7% CAGR through the forecast period
• The rising focus on healthcare and wellness spending will support growth in Germany and France
• The availability of inexpensive labor and resources will continue supporting growth in China. However, Japan and South Korea markets are expected to register higher percentage of growth over the forecast period

“Manufacturers operating in the market are keen on forging strategic partnerships with leading cosmetics brands and pharmaceutical companies. Collaborations are expected to remain a primary strategy adopted by market players to gain competitive edge,” says FMI analyst

In terms of the effect of COVID-19 pandemic on the demand of CMO/CDMO services, there was a negative impact on the market growth. One of the major issues was related to the supply chain gap. Prior to COVID-19, contract manufacturing was one of the most preferred sectors in the growing beauty and personal care industry. However, due to the pandemic, the industry suffered major setbacks as expected product launches were delayed. A shift was observed in consumer habits. Reduction of sales of leading products was recorded along with production slowdowns, which caused overhead to curb the profitability.

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Who is Winning?

Collaboration is the key strategy amongst market players. The CMO/CDMO companies continue to focus on collaborations to gain sustainability in the market.

• For instance, In February 2021, Lonza signed an agreement to divest its specialty ingredients business to Bain Capital and Cinven, aiming to refocus as a pure-play partner to the healthcare industry.

• In 2021, Pierre Fabre Group hosted a pioneering custom online partnering forum, partnering with biopharmaceutical firms aiming to accelerate the digital transformation of Pierre Fabre Group
• In 2020, In March 2020, Pierre Fabre Group, in partnership with numerous hospitals in the Occitania region of France, donated hand care creams, body cleansing gels and thermal spring water sprays and hand sanitizers necessary to combat the spread of Covid-19.

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Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015-2030. The global CMO/CDMO market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on CMO/CDMO market on basis of service (Contract Development: Formulation development & Pilot studies, Contract Manufacturing: Bulk preparation & scale up, Safety Testing and Filling & Packaging (Close jars, Bottles, tubes, roll ons and others), on basis of product (Hair Products, Skin Products, Lip Products, Eye Products, Body hygiene and Oral hygiene), on basis of form (Solid form & powder, Lotions, Creams and Others) across seven key regions.

Over the years, the burden of antimicrobial resistance (AMR) has been escalating tremendously, besides prevalence of chronic conditions. The World Health Organization observes high resistance rates have been observed against antimicrobials used for treating urinary tract infections and certain types of diarrhea. For example, the rate of resistance to ciprofloxacin ranged anywhere between 8.4% and 93% across 33 countries. It is apprehended that this burden is compounding further due to the COVID-19 pandemic. Hence, efforts are underway to accelerate research for discovering breakthroughs in microbial therapeutics.

Key Takeaways

• By product, anti-cancer agents to capture nearly 30% revenue by 2020-end, owing to prolific research breakthroughs
• By route of administration, injection pens to account for 2 out of 5 sales, attributed to patient hygiene concerns
• By source, bacteria based microbial therapeutic products to remain preferred
• Oncology to remain primary microbial therapeutic products application area, expanding at Y-o-Y rate exceeding 5% through 2020
• Hospitals emerge as the primary microbial therapeutic end-users, attributed to availability of adequate infrastructure
• North America to remain the market hegemon, East Asia to be fastest growing market

“Prominent manufacturers are seeking regulatory approvals to accelerate research and development operations for developing effective drug solutions to address the compounding antimicrobial resistance problems,” remarks the FMI analyst.

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COVID-19 Impact Analysis

The COVID-19 pandemic has adversely impact global economic outlook, with a prolonged recession on the cards across numerous industries. However, the microbial therapeutic products market has only stood to benefit from the pandemic crisis, as the global healthcare community accelerates efforts to find a potential cure for this deadly virus.

With inoculation procedures already being initiated across the U.K., it is only a matter of time before the anti-COVID-19 vaccine is available on a global scale. Despite this availability, healthcare providers will have a long road ahead with respect to discovering an orally administered drug formulation.

Therefore, governments are lending unconditional support to the global healthcare fraternity in terms of policy relaxation and disbursement of financial grants to aid in the research and development process, catapulting growth prospects.

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Competitive Landscape

Prominent players operating in the global microbial therapeutic products market are emphasizing on acquiring regulatory approvals, forging partnerships and collaborations with competent authorities and biosimilars develop to capture substantial revenue shares across key regions.

Some reputed players operating within the global microbial therapeutic products landscape include Dr. Reddy’s Laboratories, Pfizer Inc., Sanofi SA, Merck & Co. Inc., Novartis AG, Novo Nordisk A/S, Abbott Laboratories and Amgen Inc. to name a few.

According to World Health Organization (WHO), every year cardiovascular diseases cause an estimated 31% of death occurring worldwide. Also a 2016 Heat Disease and Stroke Statistics update by the American Heart Association stated that over 15 million people in the U.S. have coronary heart disease.

With no signs of the incidence slowing down, the demand for procedures such as angiography, angioplasty, percutaneous coronary intervention (PCI), and others will continue rising. Consequently, the demand for transradial closure devices is surging rapidly all over the world.

Radial access is highly efficient in providing faster mobility to patients due to smaller incision.  Furthermore, chances of infection at site is lower in radial access as compared to transfemoral access, which makes it highly preferred by diverse end users, starting from hospitals to specialized clinics.

The outbreak of COVID-19 pandemic is anticipated to impact the market negatively. The temporary period of lull could continue until the next year. However, the transradial closure devices market has high potential to grow further in the coming years.

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FMI offers an exhaustive overview of the transradial closure devices market, its growth drivers, and restraints.

Some of the key takeaways from the report are highlighted below-

• Band or strap based transradial closure type devices are expected to lead in the market during the forecast period
• Disposable devices are anticipated to gain traction in terms of usage
• Application of transradial devices in diagnostic segment will remain high throughout the forecast period
• Among the end users, independent catheterization centres will emerge dominant in the coming years
• North America will lead in the global market followed by Europe

“Due to the rising cases of cardio vascular diseases, there has been increase in surgical and diagnostic procedures related to it. Transradial access (RA) being associated with less complications, is highly preferred by the various end users such as ambulatory surgical centers, hospitals, and others. In the coming years, the uptake of transradial closure devices will therefore rise especially since patients are increasingly willing to spend on procedures that ensure shorter hospital stays,” says an FMI analyst.

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COVID-19 Impact Analysis

Due to the outbreak of COVID-19 pandemic, manufacturing process of transradial closure devices was hampered during the lock down. Contrary to this, novel coronavirus might cause cardiovascular concerns, which has resulted in surge in demand for the transradial closure devices in hospitals, specialized clinics, and other segments.

As per the latest study by FMI, the global transradial closure devices market has high potential to overcome the threats posed by the ongoing pandemic and grow further in the coming years.

Who is Winning

The global transradial closure devices market is highly competitive. In order to strengthen their foothold market players are focusing on the launch of ultra-modern transradial closure devices.

For instance, Comed B.V has launched their new Io™ Radial Compression Tourniquet (Io™ RACT) which is effective to compress the radial artery puncture, post procedure in the current year. Their Io™ RACT is small, and especially designed to optimize compression, view the puncture side and deflate the compression balloon.

Merit Medical, Inc. has launched their exclusive PreludeSYNC™ Radial Compression Device which assists in achieving vascular hemostasis in the recent year. Their PreludeSYNC™ Radial Compression Device is available with the safety and convenience of a specialized connection device and syringe.