Global Quasi Drugs Market – Industry Trends and Forecast to 2030

Quasi Drugs Market Analysis and Size

The quasi drugs market is projected to witness significant growth during the forecast period. Increasing cases of acne and dull skin-related problems boost the quasi drugs market. The awareness has spread to a larger extent due to increased environmental pollution and rising awareness of oral and personal hygiene among the population. High usage of beauty products surge in population, especially females.

Data Bridge Market Research analyses a growth rate in the quasi drugs market in the forecast period 2023-2030. The expected CAGR of quasi drugs market is tend to be around 6% in the mentioned forecast period. The market was valued at USD 102.7 billion in 2022, and it would grow upto USD 163.69 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Quasi Drugs Market Scope and Segmentation

Market Definition

Quasi drugs are one of the two primary categories of beauty products. There is a thin line between drugs and cosmetics, that can be considered as quasi-drugs. South Korea’s health authority (HA), the Ministry of Food and Drug Safety (MFDS) has categorized them under pinpoint skin care products such as acne for skin dullness as their benefits are not as suitable like drugs. Group 1 includes items used for sanitary purposes such as sanitary pads, tampons, menstrual pads, and wet wipes for oral hygiene. Group 2 includes odour inhibitors such as toothpaste, antiperspirants, and bath products, contact lenses.

Global Quasi Drugs Market Dynamics

Drivers

• Increase in Acne Cases

Acne is the most common skin condition in the U.S., affecting around 50 million people annually. Acne usually begins in puberty and affects several adolescents and young adults. Around 85 % of people between the age group of 12 and 24 years experience at least minor acne. It is also common among adults because of increasing stress, pollution, hormonal imbalance, and among others. This factor contributes in the market growth.

Opportunities

• Rising Awareness about Personal and oral Hygiene

People are getting more and more aware of personal and oral hygiene. Good personal hygiene is essential for both health and social reasons. The social benefits associated with personal habits need to be considered. In terms of oral hygiene, caring for the teeth and practicing good oral hygiene wards off bad breath, tooth decay, gum disease, and many infections. Thus, it demands a lot of quasi drugs, which helps in the growth of the market expansion.

• Increasing Demand for Retail Pharmacies

The increase in the number of quasi drugs delivered through retail pharmacies and the rise in the number of retail pharmacies in vastly developed countries create opportunities for the market growth. Furthermore, patients choose retail pharmacies for purchasing drugs, as these are easily available.

 Restraints/Challenges

• Limited Studies and Surveys

Very limited studies and surveys are associated with the quasi drug application, hindering the market's growth. Only an insignificant amount of data are available with respect to the studies. A few studies mainly focused on groups from a single hospital wherein only a limited number of patients are observed. Thus, this hampers the growth of the market.

This quasi drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the quasi drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Quasi Drugs Market Scope

The quasi drugs market is segmented on the basis of group, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Group

• Group 1
• Group 2
• Group 3

End User

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Quasi Drugs Market Regional Analysis/Insights

The quasi drugs market is analyzed and market size insights and trends are provided by group, distribution channel and end-user as referenced above.

The major countries covered in the quasi drugs market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America has been witnessing a positive growth for quasi drugs market due to increased healthcare and R&D expenditure and the presence of skilled professionals.

Asia-Pacific dominates the market because of the increased general skin problems, increased awareness for quasi drugs through advertisement, and rapidly improving health care infrastructure in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Quasi Drugs Market Share Analysis

The quasi drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to quasi drugs market

Key players operating in the quasi drugs market include:

• Pfizer Inc. (U.S.)
• COSMOBEAUTY CO., LTD (Japan)
• GL Sciences Inc (Japan).
• Japan Cosmetic Agency Tokyo Co.,LTD (Japan)
• Kindai Kagaku (Japan)
• TAE BONG CO., LTD (South Korea)
• International Toiletries Co., Ltd (Japan)

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