DNA-Based Skin Care Market 2018: Global Industry Analysis, Size, Share, Growth, Trends And Forecast To 2028
DNA-based skin care is the development and formulation of personalized skincare specific to the DNA of the patient. It includes extracting the DNA by a cheek swab and analyzing it to identify the skin’s inherit condition across several factors such as collagen formation, inflammation, glycation, antioxidant and sun protection and others. The last step is development ad formulation of customized skin care products targeting the needs of the skin for the user.
DNA-Based Skin Care Market: Drivers and Restraints
The advancements in genomics coupled with the development of infrastructure and awareness is the prime driver of the market. The growing expenditure on wellness products and the inherent desire to be young are another driver of the market. It has been estimated that the global wellness economy, and wellness tourism is estimated to total US$ 500 billion in 2016.
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The growing influence of media and the tourism industry are psychographic drivers of the market. Further the falling cost of genetic diagnostics have resulted in high potential of skin care tailored to one’s DNA and lifestyle. Intrinsic skin ageing accounts for 60% of skin damage, while the remaining 40% is due to external factors and lifestyle. Thus a large DNA-based skin care market is well evident even to an untrained eye.
A strong developmental pipeline is another driver of the market. Companies are investing in personalized medicines which is expected to be the future of healthcare.
However the constraints such as high cost of treatment, nascent stage of technology and low awareness in under developed nations is hampering the DNA-based skin care market.
DNA-Based Skin Care Market: Regional Wise Outlook
The global DNA-based skin care market can be classified into the following region: North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America, led by the U.S., is expected to drive the largest market share owing to the large wellness expenditure, large per capita income and large international wellness tourism. The US is the top destination for international wellness tourism, averaging 7.0 million international travels in 2016.
The Asia Pacific DNA-based skin care market excluding Japan is projected to expand and dominate the scene in the near future, owing to the growing healthcare expenditure and income. China and India are anticipated to account for the major share of the Asia Pacific DNA-based skin care market growth. The Asia-Pacific region is expected to grow at a faster pace owing to traditional dominance of alternative therapies such as Ayurveda, traditional Chinese medicine, Thai massage) which incorporate preventive, curative, and therapeutic aspects closing near the wellness treatment.
Germany, France and the U.K., are projected to be the largest drivers of the Europe DNA-based skin care market. The Middle East and Africa DNA-Based Skin Care market is anticipated to be led by the gulf countries of Saudi Arabia, UAE and Qatar owing to their large income.
DNA-Based Skin Care Market: Market Participants
Some of the major vendors operating in the global DNA-based skin care market are Imagene Labs, Caligenix, EpigenCare, SkinGenie, ALLÉL, dnaskin, SkinDNA, Jinomz, Targeted DNA, Evergreen Health Solutions Ltd., EpigenCare Inc. and others.
The global DNA-Based Skin Care report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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