Cosmetic pharmaceutical have had an annual global sales of over $170 billion, cosmetics is a well established industry in its own right. However, with the recent strides in the research and development of cosmetic products, it is now changing the entire industry as a whole.
According to the FDA, cosmetic products provide a functional reference without “affecting the body’s structure of functions.” Cosmeceuticals are an emerging field in the aesthetic industry which has blurred the line between traditional cosmetic products and pharmaceutical drugs. These new cosmetic pharmaceuticals are known as hybrid products which enhance beauty by utilizing ingredients that interact with the body’s own biological functions.
A term which came into industry in the 1970s, it has gradually gained mainstream acceptance, and is now the single fastest growing segment within the cosmetic beauty industry.