[DailyPharm=Reporter Hwang Byung-woo] As the pharmacy cosmeceutical market emerges as a new growth area, suggestions have been made that pharmacists' trust, customized consultations, and the ability to explain based on ingredient evidence are necessary for market stabilization.
It was stated that pharmacies must not only apply good ingredients but also differentiate themselves from general cosmetic distribution channels by having pharmacists select products according to consumers' skin conditions and intended use, and explain the basis for their choices.
PYDERIN recently held the 'REDEFINE SYMPOSIUM' to share the growth potential and success conditions of the pharmacy cosmeceutical market, as well as ways to utilize products for various skin concerns.
Next to nutritional supplements, cosmetics… towards an expert-recommended market
First, pharmacist Go Sang-on (Pharmacist's Story of Medicine), who has 2 million YouTube subscribers, predicted that pharmacy cosmetics would follow a similar growth path to the nutritional supplement market.
The nutritional supplement market saw increased consumer confusion due to information overload after the expansion of online platforms and influencer advertising, which then led to a growing demand for pharmacists' recommendations. The diagnosis is that the cosmetics market is also shifting from brand and price-centric choices to a market where consumers check ingredients and clinical evidence and seek expert judgment.
Pharmacist Go said, "The nutritional supplement market experienced consumer confusion through online and indiscriminate advertising, and eventually, the demand for experts to provide information grew." He believes that cosmetics will follow the same trend, leading to an increase in consumers choosing products at pharmacies.
The increase in foreign tourists visiting pharmacies was also cited as an example showing market potential.
Pharmacist Go observed foreigners in tourist areas like Myeongdong consulting with pharmacists and purchasing products suitable for their skin condition and treatment experience. This is evaluated as a combination of trust in Korean pharmacists and pharmacy products with the demand for K-beauty.
However, if pharmacies remain merely sales spaces, it will be difficult to differentiate them from other distribution channels. The judgment is that curation is needed, going beyond simply informing about raw material characteristics, to consider skin type, existing products used, and treatment history.
He emphasized, "The greatest value of a pharmacist is the trust that comes from only speaking about what can be stated with certainty and not exaggerating the value of a product." He added, "Beyond the strengths of ingredients, pharmacists should propose management methods suitable for skin types. The future of pharmacies lies in explaining what to say correctly and which products are proper products."
Beyond product sales to consultations for skin concerns
In the subsequent presentation, pharmacist Kim Jung-hyun cited trust in pharmacists, customized consultations, and judgment on efficacy and safety as the reasons consumers visit pharmacies to purchase cosmetics.
The analysis is that pharmacies are emerging as a new purchasing channel as demand increases for products for soothing and skin barrier management after dermatological procedures, or for daily skin care with functional ingredients.
According to pharmacist Kim's presentation, the domestic pharmacy and derma cosmetic market size grew 9 times from 2017 to 2022, showing an average annual growth rate of 14%.
Pharmacist Kim explained, "Consumers visit pharmacies to buy cosmetics because they trust pharmacists," and that customized consultations and judgment on efficacy and safety based on skin condition are the background for market growth.
PYDERIN's direction in the pharmacy market is also closely aligned with the pharmacist's expertise.
PYDERIN disclosed data on PDRN raw material purity, molecular size, and source, and structured its product line to allow for product suggestions based on skin condition. Doctors and pharmacists participated in the development process, and on-site feedback is reflected even after distribution.
Pharmacist Kim also introduced ways to utilize REJUVUSTER, HYDROVUSTER, and CLEARVUSTER for common skin concerns encountered in pharmacies, such as acne/sebum, dryness/itching, pigmentation, and aging.
The approach involves suggesting CLEARVUSTER and HYDROVUSTER for acne and sebum; HYDROVUSTER for dryness and itching; and REJUVUSTER, focused on whitening and antioxidant care, for pigmentation and aging concerns.
The key is for pharmacists to connect consumers to consistent skin care, while distinguishing between the treatment area of pharmaceuticals and the management area of cosmetics. Guiding the order and duration of product use by checking current medications and whether dermatological procedures have been performed was presented as a differentiating factor for pharmacies.
Pharmacist Kim stated, "Anyone can sell cosmetics, but pharmacists are the ones who can examine consumers' skin concerns and products used, and make case-by-case suggestions." PYDERIN also expressed its intention to support pharmacists in conducting accurate and specific consultations.
Good products also need to be explained to become a market
Pharmacist Lim Byeol (CEO of Pharmabros) emphasized that for the pharmacy cosmeceutical market to grow, the pharmacist's explanation, which conveys product power to consumers, is as important as the product itself.
The perspective is that as consumers directly seek information through SNS, academic papers, and artificial intelligence, questions are changing from 'which brand is it?' to 'what ingredients does it contain?' and 'why should I use it?'
Pharmacist Lim emphasized, "In the past, brands created the market, but now, a market is created when good ingredients, experts who explain them, and the method of conveying that value move together." He added, "A good product only becomes a market when it is explained."
He also believed that the standard for good ingredients should be based on the evidence pharmacists can present to consumers, rather than fame or price. It means that being able to answer consumers' questions about origin, purity, molecular weight, and clinical trial status leads to product selection.
He pointed out, "Consumers don't just believe the words 'good ingredients' but look at the presented evidence," and that products can actually lead to market selection when pharmacists can convey that evidence.
He also requested that brands not only supply products but also support pharmacists' consultations and information delivery.
It takes considerable time for pharmacists to individually create pharmacy shelf guides, product-specific materials, and online content. Repetitive tasks should be reduced with artificial intelligence and automation tools, allowing pharmacists to focus on understanding consumer conditions and guiding products.
Finally, Pharmacist Lim called for co-growth between pharmacies and brands.
He added, "When products with good ingredients, pharmacists' professional curation, and companies and brands that understand and want to be part of that value move together, brands grow, pharmacies grow, and the market grows together. Good products are already prepared. Now, what's important is how correctly that value is delivered to how many consumers."
