Hailey Bieber’s new skincare line, Rhode, launched this week. The model and wife of pop sensation Justin Bieber debuted five products (all under $30), most of which sold out within hours. Clearly Bieber’s celeb status and 45 million Instagram followers helped drive demand, but so too did her dermatologist in residence – the “formulation king” – Dr. Dhaval Bhanusali.
Dhaval G. Bhanusali, Dr. B to his patients, is a board-certified dermatologist in New York City. He is also a millennial who is disrupting the $100 billion global skincare industry by bringing an innovative high-tech twist to the traditional practice of dermatology, while at the same time helping formulate clean, effective and affordable products for celebrity skincare lines like Bieber’s. He is also a formulator behind Martha Stewart’s upcoming CBD-infused skincare brand 86 Elm, set to launch in the coming months.
“Dr. Dhaval is a very knowledgeable and open-minded dermatologist,” says Stewart. “I have worked with him for more than 2 years on the development of a very extraordinary skincare program which incorporates CBD and other unique and effective ingredients.”
A Large and Growing Global Market
It’s no surprise that new players continue to enter the skincare game. The global skincare industry is on the rise; estimates project the industry will be worth over $200 billion by 2026. This growth is due in large part to the spending power of today’s younger consumers, who are increasingly prioritizing skincare. In fact, a recent survey revealed that 41% of Gen Z said that skincare was their top beauty item.
And while Stewart and Bieber may have different skincare goals, they do have one important thing in common. dr B is a master formulator behind both lines.
Making Customized Prescription Skincare Affordable
Before engaging with Bieber and Stewart, Bhanusali had already left his mark on the traditional dermatology industry. His “aging is a privilege that should be celebrated” ethos drove him to create a platform that allows him to scale his expertise into a thriving business while democratizing skincare by offering affordable customized prescription skincare solutions to thousands of dermatologists and their patients.
Skin Medicinals is a platform that enables dermatologists around the country to customize prescription skincare formulations and offer them to patients often at prices far below typical insurance co-pays. dr Bhanusali believes the platform is an important step in fighting the rising costs of healthcare. In fact, Skin Medicinals is estimated to have already saved the healthcare industry over $100 million.
dr Andrea Waldman, a dermatologist at New York’s Mount Sinai hospital agrees and uses the platform for her patients. “[Skin Medicinals] allows me to create something specific to them and, most importantly, do so at an affordable price.”
“We built a platform to allow for compounding ingredients that dermatologists now use for everything from acne to psoriasis, warts, rosacea and even aging,” says Dr. B. The platform is now used by more than 8,800 doctors, who have prescribed compounds to more than 420,000 patients. This modern, digitized approach to old-school dermatology gives millennial and Gen Z patients a branded experience, with greater access to personalized prescription skincare at affordable prices.
The same approach is also being used to save patients from the devastating effects and significant expenses related to hair loss. While not a life-threatening condition, hair loss is one of the leading causes of depression among the estimated 80 million men and women who suffer from it. dr B developed the Hairstim platform as a way for thousands of dermatologists to treat their patients with effective, personalized, higher strength formulations at more affordable prices than over-the-counter supplements, shampoos, and medicinals.
It may be time to add Dr. B. to the list of well-known “skinfluencers” – standouts like Bieber and Stewart, along with Rihanna, Gwyneth and J.Lo – who are influencing skincare purchases among today’s consumers. Bhanusali is using his medical expertise, business savvy and tech background to save hundreds of thousands of patients significant amounts of money while providing them with customized skincare solutions.