Award Winning Cosmetic Dermatologist Dr. Chytra V Anand Led Kosmoderma wins at India Leadership Conclave Power Brand 2014
Award Winning Cosmetic Dermatologist Dr Chytra V Anand Led Kosmoderma wins at India Leadership Conclave Power Brand 2014
Kosmoderma is Voted & Awarded as “India’s Most Promising Skin, Hair & Laser Enterprise 2014” By Network 7 Media Group for Innovation in Skincare Treatment, Laser & Hair Makeover!
Bangalore based Kosmoderma known for a reliable house of skincare Treatment with a state of art technology Skincare Clinics in 6 centers in south india has been awarded by the Network 7 Jury for the leading skin, hair and body healthcare provider offering safe, effective and affordable procedure with an unmatched experience. The Recognition reflect Kosmoderma’s excellence to provide the nest standard of healthcare in skin, hair, body and beauty, to bring satisfaction to the clients/patients to be the first option for customers, be a preferred employer for the skin and beauty industry,to set the benchmark in the skin and beauty industry & to work with the Medical and Beauty Community to bridge the gap between Medicine and Beauty. Kosmoderma plans to expand its base in other parts of the country to replicate the success it achieved in the current centers it has.
Dr Chytra V Anand received the recognition on Friday 18th july 2014 from the Legendary Bollywood Actor Mr. Shakti Kapoor, Dr. Mukesh Batra, India’s most-renowned homeopath & Padma Shri Awardee & Mr Satya Brahma, Chairman & Editor-In-Chief of Network 7 Media Group presented the Awards to the successful Enterprises & Individuals in their respective areas. The 5th Annual India Leadership Conclave & Indian Affairs Business Leadership Awards 2014 by Network 7 Media Group’s ( www.network7mediagroup.in ) Indian Affairs Media outfit (www.indianaffairs.tv ), Asia’s biggest analytical news media had hosted the much awaited annual affair in its 5th year, the 5th Annual India Leadership Conclave & Indian Affairs Business Leadership Awards 2014 ( www.ilc2014.in )in the commercial capital of india in Mumbai on Friday, 18th July 2014 under a powerful theme on “Perform or Perish” which was debated, analyzed & addressed by Asia’s most promising voices & industry stalwarts on a variety of subjects ranging from politics to cultural, economics to social. After being highly successful in last 4 editions, the much awaited India Leadership Conclave 2014 was attended by more than 300 business tycoons, political leaders, policy makers, social reformers, diplomats, media professionals.
Kosmoderma, with the help of United States of America’s FDA technology, offers safe, affordable, and effective treatments with high standards of quality. This skin care clinic Bangalore undertakes personalized skin care consultation and uses 3D imaging of analyze the underlying issues and offer treatments and other skin care regimens. Some of their treatments include brightening, revitalizing eye treatment, and oxygen infusion medifacial. Home care is just as important as in clinic treatments. As the skin is protected by the acid mantle, most of the ingredients in a cosmetic range are blocked from entering the living layers of the skin, thus being ineffective. For effectiveness, the active ingredients must be able to penetrate the acid mantle and reach the living layers of the skin. Only Cosmeceuticals (Medical ranges) can achieve this. Kosmoderma thus offers a Cosmeceutical range from Neostrata, USA, the world No 1 in medical skin care & Skinceuticals, USA, the pioneers of anti oxidant products. Home care is strongly advised at Kosmoderma as many skin conditions can be treated by the introduction of a personalized medical skin care regimen without the need of a procedure.
About Dr Chytra V Anand
Dr Chytra V Anand is an internationally renowned Cosmetic Dermatologist. She is the Founder & CEO of the well-known chain of Kosmoderma Clinics. Her skill in dealing with all skin types is well known and her impressive client list comprises of prominent personalities from various walks of life – Fashion, Films, Industrialists and Socialites.
After completing her MBBS in JSS Medical College, Mysore, Dr Chytra V Anand went to London to study for her higher education. She is a graduate of the prestigious Guys & St Thomas’ Hospital in London, where she earned her Masters in Dermatology.She completed her fellowship in Cosmetic Dermatology from Miller School of Medicine, University of Miami, USA.She has been on the expert panel for her talks on Cosmetic Dermatology topics at various conferences and meetings nationally and internationally. She is the youngest Cosmetic dermatologist on the international lecture platform.She has been a part of Cosmetic Dermatology Programmes on Channel 4, Discovery Health, BBC and other prestigious TV Channels in London.
She has the distinction of having had her own monthly TV talk show on dermatology on Vectone Asian channel.In Jan 2006, Dr Anand moved back to India to pursue her dream of opening a chain of world standard skin and laser clinic in India and started a specialist Cosmetic Dermatology clinic and Bangalore’s first MediSpa – Kosmoderma. She has 5 Clinics and 1 MediSpa. Her clientele comprises of people from all walks of life including stars from the Bollywood, Sandalwood & Tollywood fraternity, fashion models and prominent corporate personalities. She is fiercely protective of her patients and their privacy.She is an expert in Laser Devices, Injectables & Cosmetic Therapies and is constantly invited as a speaker on expert panels at various conferences, nationally & internationally. She also writes articles regularly for various mainstream publications like Femina, DNA, TOI, Deccan Chronicle, Stay Fit, Marie Claire, Prevention etc and has appeared on television channels as an expert speaker for various mainstream channels in India. She is regularly featured in the local television channels for her expertise on Cosmetic conditions for skin & hair.
In 2007, Dr Anand founded the International Academy of Aesthetic Medicine to train doctors in the field of Cosmetic Dermatology as she realized that doctors did not have enough exposure to Cosmetic Dermatology in regular practice and required additional specialized training in India.Under her guidance the academy conducts intensive hands on training courses for doctors from around the globe. She has trained over 800 doctors in Aesthetic Medicine procedures and is credited with pioneering Aesthetic Medicine & Cosmetic Dermatology training in India. The Academy has attracted students from India, UK, Europe, UAE, Africa, SE Asia and is considered a top-notch training facility.She is credited with introducing fractional laser for acne scar rejuvenation & non – surgical thread lift procedures to India. She has to her credit to having performed the highest number of Botox and Filler injections in South India.Dr Anand is popularly known as Dr Fix It by her patients who travel from other cities and countries to seek her expertise.She is sought after for her advanced and developed sense of aesthetics by patients and other doctors. Her patients and students swear by her brilliance and techniques.
She is considered to be the leading cosmetic dermatologist and opinion former in India today.
Skincare Innovation in India
looking to international personal care brands as lifestyle enhancement products which will create a sophisticated and upper class image. The total skin care market is estimated to be around Rs. 3,400 Cr. The total size of the Indian retail beauty and cosmetics market is currently estimated at $950 million. The overall beauty and wellness market, which includes beauty services, is $2.68 billion. The cosmetics market in India is growing twice as fast as that of the United States and European market. However, The skin care market is at a primary stage in India. The penetration level of this segment in India is around 20 per cent. The improvement of medical technology also fuels the growth of the market in India. Major companies active in this segment include Hindustan Lever; Godrej Soaps, Colgate-Palmolive, Marico, Dabur and Procter & Gamble. The skin care market can be segregated into toners, cleansers, sunscreens, anti-wrinkle creams, dark circle removing creams, astringents, facial creams, moisturizers, fairness creams, day and night-creams.
The skin care industry worldwide is a 50 Billion Dollar plus business. Caring for the skin of people throughout the world is a popular business. It is a business where people are passionate about their work, because it matters. It matters to their families, to their communities, to their profession and the whole world. It is a business where unmet needs still abound and where people around the world are waiting for new and better solutions. The major product segments in the market are Face Care Products, Body & Hand Care, and Depilatories, and, Sun Care Products. The sub product segments include Facial Moisturizers, Facial Cleansers, and Hand & Body Lotions/Creams.
The Key Factors
- “Male grooming is one of the fastest growing segments,”
- “The Indian personal care market has historically been driven by family brands and now you are starting to see some brands become specialist female or male brands. Individualism is still not that big, as men are indifferent to the brands they use,”
- The nascent men’s personal care and grooming market is just 8% of the overall $10 billion (Rs.61,000 crore) personal care market in India
- Indian men account for a larger part of the perfumes category than their counterparts in the US, where the bifurcation of the fragrance market is 68% women and 32% men. Even in Asia, women account for 83% of the overall fragrance market and men account for just 17%”.
- However, men are quickly adapting to skin care products more broadly. For instance, for Kiehl’s, which is owned by the L’Oreal Group, men account for 20% of overall sales in India, which is higher than the global average of 15% of overall global sales coming from men for the brand, who finds that the Indian urban male is aware of the brand and ready to adapt to skin care regimes.
- “Men in India really spend time and money for grooming. They are also brand conscious and spend money on the latest launches as they well versed with the trends due to the Internet and their travel overseas,”
- Women, on the other hand, are more worried about reactions from cosmetics, make-up and fragrances. However, this is slowly changing. “The growing urbanization and becoming a part of the workforce is driving them to adapt to the category,”
- The penetration level for both the urban and rural market is low. Many people still prefer to use traditional products to cure the skin
- More than 25% growth every year in the Skin Care Industry
- Facial skin care products have become an essential part of the beauty market
- Gradual Adoption of the western culture
Drivers of the Industry
- Growing worldwide wealth
- Changing consumer lifestyle
- Celebrity endorsement increases consumers’ awareness and interest
The total disposable income of the people in Asia is 21% of that of the world which is estimated to increase to a value of the 23%( Euro monitor Report)
The major Skin Care Segments and their Drivers
Strong Desire for the fair skin
- Asians’ beliefs
- “White hides three ugly bits”
- Fairer equals to upper class
- Stressful lifestyle
- Busy lifestyle resulting in less sleeping time
- Stress hormone sends the skin’s oil glands into overdrive
These beliefs and the strong desire for the skin whitening products led to the development of technology and evolution of new whitening products and formulations. The whitening creams are also produced for men. In recent years the fairness cream is combined with the anti-aging formulations which bring the satisfaction and feel good factor to the customer. Also with rise in work-stress and pollution people are more inclined to these products. Not only that, baby skin care products, sun protection products, bleach and facials also gained popularity among people.
- Growth in Aging Population
- Accelerated Aging
- Rising Pursuit of Agelessness
Development and Outlook
- Target young consumers: Prevention better than cure
- Super-premium : From global to local brands
- Mass brands developments
- Cosmeceuticals : Collaboration between cosmetics and pharmaceutical company
- New technology and ingredient
- More regulated industry to ensure the safety of cosmeceuticals
- Facing strong competition from aesthetic beauty service industry
Skin Care Applications
- Increased consumer knowledge on skin care application
- TV beauty programs educates consumers on different products’ benefits
- Technology advancement
- Skin care evolution thanks to technology and research
- Beauty web blogs to allow consumers to exchange ideas
- Cleansing Liquid
- AC Essence
- White Essence Cream Trends and development
- Usual Routine
- Development of more powerful products
- Consumers may “outsource” personal care and pay for spas and treatment
- India has the maximum growth in the resort/hotel spa( 107% growth annually in 2007)
Natural and ethical products
- Massive awareness of health & wellness
- Safety scares and recalls
- Consumers look for guarantee of authenticity
- Rising greensumerism
- Technology facilitate the development of more effective products
Key Trends and Developments
- Edible, natural and herbal ingredients
- Environmentally friendly packaging
- New retail concepts
- Minerals and precious materials, including gold
- Packaging innovation: eco-friendly packaging
- Same consumer buying both high technology and natural products
- Emergence of ‘at-home-make’ products
- Venture into other products, such as sun care
- Well-known designers and celebrities increase consumers’ knowledge on natural & ethical products
Men Skin Care
- Workplace: Pressure from competition in workplace led to the emergence of
- Metro sexual man
- Greater acceptance in developing nations
- Move to more ‘advanced’ products
Key trends and Development
Stronger growth than skin care: In 2007, the Asian Skin Care Market has grown at a rate of 8%, where as the men skin care market has grown at a rate of 14%. Similarly projected growth in 2012 is 6%, whereas the growth of the men skin care segment is 8%.
- Moving away from 3 basic cleaning steps
- Macho-sexual vs metrosexual
- Increasing popularity of sportsmen
- Lower acceptance of men’s colour cosmetics
- Main focus will still be skin care and other men’s grooming products
- New technology
- Focusing on convenience
- Cosmetics surgery for men
- Getting popular in countries like Japan and South Korea
Inhibitors of the Skin Care Industry
Trends & Opportunities in India
Growth in the young population (RBI report): Changing demographics in India
2/3rd Population below age of 35
Favourable Consumption Pattern: The share of private consumption for personal care products increases consistently over the years( Economic Survey 2009).Increase in Urbanization in India: The skin care products are not in the basic need category. Hence, the urban people whose basic needs are fulfilled are more inclined to these products and are potential customers to buy the skin care products.
The customers do not always stick to one brand of makeup or perfume or any variant offered because the switching costs are very low. This means that buyer power is high and demand for favourable prices.
Bargaining power of suppliers
Barriers to Entry
Product testing and research is both time-consuming and costly. New entrants also need to persuade stores to stock their products, and major retailers, aware of their importance in the distribution chain, may be unwilling to risk displacing existing brands for the sake of new ones. Substantial funds are needed to start up a business in this market, with capital required for investment in production, distribution, and also advertising which is crucial to success in the market. Hence, barrier to entry is high and needs high initial spending.
Industry regulation: The companies are usually forced deal with strict regulations on issues like animal testing and environmental protection. Also cosmetic products have to face the highest level of scrutiny (almost the same level as pharmaceuticals) with regard to their safety levels.
Strategy to be followed:
They should try and target niche markets in the beginning and follow strategies like direct selling.
Local penetration is required before moving for internationalization.
Current Indian cosmetic regulations are complex and there are multiple regulations under different regulatory bodies. There is a need to simplify the regulations and there is also a need to address the growing issue of spurious products and counterfeits. Indian cosmetic industry is mature and responsible enough to ensure safety & quality of its products and the industry can take up joint responsibility with the Regulator for cosmetic regulations in India. European and ASEAN countries have adopted this model of self regulation successfully and the same is being suggested here in the Indian context.
There is a negative list of ingredients which can’t form a part of any cosmetic composition. There is also a restricted list of ingredients; such ingredients can be used only under specific concentration range in specific products and under specific conditions of pack declaration. In addition, there is a positive list of preservatives and UV filters thus restricting the choice of such ingredients and their concentrations.
Cosmetic labeling is dictated by multiple regulations – This includes Drug & Cosmetics act, BIS packing norms and Standards of Weight & Measures act. More recently, several amendments have been notified in the labeling clause of Drug and Cosmetic Act.
Manufacturer is required to submit the relevant information pertaining to the formulation, raw materials used and their specifications, product quality specifications and safety data in support of the formulation. The information is reviewed by local (State) FDA and a cosmetic license is granted or otherwise. The clinical trial of the skin care products is also done to ensure safety for the consumers.
Outlook for the Skin Care Industry
The outlook of more stringent regulation governing usage of active ingredients in personal care products implies the need to strengthen testing capabilities to ensure adequate product safety.
Also the industry needs to self-regulate to ensure performance claims made in product advertisements are commensurate with benefits delivered to consumers. The surging demand for green products calls for better product and application R&D capabilities to use natural/organic ingredients more effectively.
Multinational players with international brands have a strong presence in the Indian formulation segment. Local skin care brands too are gaining a foothold in the market by innovatively developing value offerings to meet the unique needs of the Indian consumer. Going ahead, it will be important to develop R&D capabilities to further customise products for Indian consumers, create greater awareness among the burgeoning middle class and ensure effective distribution reach to service them. The companies that are able to develop a judicious mix of the above will be the eventual winners.
The time is ripe to review one’s strategy and come up with innovative approaches to help realise the full potential of the Indian skin care sector, where the ingredients market is likely to double in the next four years.
The skin care segment has shown tremendous growth and emerged as a potential investment area for players in recent years. From treatment of common skin care diseases, the skin care industry has evolved to the age of cosmetic and anti-aging treatments. The overall skin care market is expected to grow with the rise in demand of various skin care services. Factors like global warming, anti-aging solutions, new product innovations, growing media influence, etc. are driving this market. Boosted by growing consumer demand, rise in disposable incomes, lifestyle related disorders, craze for cosmetic surgeries, obsession for young-looking skin, low cost of treatment, and booming medical tourism, the skin care market in India is likely to expand and emerge as a potential investment area for players.
The market for anti-aging solutions has also become vibrant in India with rising concerns about beauty and looks. Nowadays, more young people are visiting doctors and dermatologists to improve and maintain their youth. The craze for cosmetic surgeries has put India among the top five countries in the world to perform surgical procedures like Lipoplasty, Rhinoplasty, and Bhleroplasty, etc. The demand for non-surgical procedures like Botox, Hyaluronic acid treatment, and laser hair removal is also very high.
The prevalence of skin disease in India is 10 to 12 percent of the total population with Eczema and Psoriasis being the major contributors. Due to pollution, ultraviolet light, and global warming, photosensitive skin disorders like tanning, pigment darkening, sunburn, skin cancers, and infectious diseases are increasing at a faster pace. A one percent reduction in ozone leads to a two to four percent increase in the incidence of tumors.
The growth and future prospects in the skin care market have forced drug companies to tap the opportunity of selling over the counter (OTC) drugs by bringing novel compounds in and by selling the products of international players under a licensing agreement.
According to Ankit Goyal, Program Manager, Healthcare Practice, Frost & Sullivan, “The ecosystem for skin care treatment is witnessing a great change in demand patterns. Gone are the days, when skin care was limited to treatment of common skin diseases. The emergence of cosmetic and anti-aging treatments has changed the face of the skin care industry. The number of these cosmetic procedures is expected reach 18 to 20 lakh by 2015 in India. In 2013, with prevalence rate of 10 percent, the population affected across India from skin disease is estimated at nearly 15.1 crore. It is estimated that at a CAGR of 12 percent about 18.8 crore people is likely to suffer from skin disease by 2015”.
During the past five years, there has been a considerable growth in the Indian cosmetic/aesthetic surgery industry. The demand is high in urban regions like Chandigarh, Mumbai, Delhi, Chennai, Kolkata, Hyderabad, Bangalore, and Pune.
Goyal further opines, “Skin disorders are among the most common diseases in school children in both developing and industrialized countries.” He adds, “The severity of growing skin diseases in India is further emphasized by the fact that the World Health Organization (WHO) has included skin disease under the most common non-communicable diseases in India. In addition, there is a lack of facilities that provide comprehensive skin related treatments under one roof.” The situation is further worsened by the low availability of dermatologists in India. At present, there are about 6,000 dermatologists catering to a population of over 121 crore. This means that for every 100,000 people, only 0.49 dermatologists are available in India as compared to 3.2 in many states of the US.”
Various tertiary care private setups lack the capability to treat chronic, genetic and pediatric skin ailments. In addition, their ability to provide comprehensive derma pathology and immunopathology units is also limited. Non-surgical cosmetic services provided by standalone skin care centers cater to only a small segment of skin treatment and a particular segment of the society. Hence, there is a dire need of comprehensive skin care setups providing all skin care treatments under one roof.