Cosmetovigilance Market Size: By Service Type (Pre-marketing Services {Clinical Safety Testing, Document Writing, Risk Management}, Post-marketing Services {Case Intake, Case Triage, Data Entry & Acquisition, Tracking & Reporting}) , By End-use (Clinical Research Organizations, Business Process Outsourcing) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Brazil, Mexico, Saudi Arabia, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Report ID: GMI3119

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Cosmetovigilance market size is expected to grow significantly from 2019 to 2025.
 

Cosmetovigilance market will experience high growth in upcoming years owing to rising complications such as itching, dryness of skin and burning sensation associated with the use of cosmetics among the population worldwide. As per the Indian Journal of Pharmacology, published in 2017, several patients in the U.S. suffered from adverse drug reactions including itching, bumps, swelling and tenderness due to permanent makeup procedures. Additionally, the duration of suffering, ranged from around 5 months to 3 years. Thus, growing awareness among people regarding adverse drug reactions due to cosmetics will augment the business growth.
 

Moreover, female hair technicians are always at a risk of fertility disorders and adverse reactions during pregnancy. Exposure of hair technicians to various chemicals such as ammonium persulfate increases the risk of asthma thereby boosting the cosmetovigilance market growth. In addition, according to International Journal of Biological and Medical Research, several symptoms of hair dye allergy such as intense edema of face, particularly of eyes and exudation of scalp were observed among the hair dye users. Such risks associated with the use of cosmetics will further spur industry size.
 

Government regulations pertaining to use of cosmetics is another key factor that will drive the cosmetovigilance market growth. Focus of companies engaged in manufacturing and marketing of cosmetics on legal responsibility to ensure product safety will favor business growth. Stringent regulations enforced by FDA regarding proper labeling, preventing adulteration of chemicals or misbranding will surge the demand for cosmetovigilance. Several initiatives undertaken by FDA such as Voluntary Cosmetic Registration Program (VCRP) will ensure industry growth during the forecast period. However, lack of information regarding cosmetovigilance in developing and under developed countries may hamper industry growth over the coming years.
 

Pre-marketing services segment will witness significant growth during the forecast period. Increasing risk of infections such as skin or eye irritation, allergies, cancers owing to the use of cosmetics by consumers will drive segment growth. Wide use of safety tests such as patch test, phototoxicity test and photosensitization test to ensure quality of cosmetics will positively impact business growth.
 

Clinical research organizations (CROs) are anticipated to show robust CAGR during the analysis timeframe. Benefits of CROs such as less time taken to conduct clinical trials as well as cost savings in research services will drive segmental growth. Outsourcing in clinical trial management will help firms to substantially lower overhead costs, thus helps them prepare for amount lost for lower medication market. Aforementioned factors will augment the clinical research organizations segmental growth.
 

North America cosmetovigilance market dominated the overall market with largest revenue share in 2018, owing to increasing focus of cosmetics manufacturing companies on R&D activities for manufacturing safe and effective cosmetic products. Presence of large number of industry players in the region, undertaking various strategies such as new product launch will positively foster North America cosmetovigilance industry growth.
 

Europe cosmetovigilance market will witness considerable growth during the forecast timeframe. Awareness among the population regarding cosmetovigilance coupled with efforts of the European Union in regulating consumer cosmetics will drive the regional business. European Union assesses chemical safety and galvanize manufacturers to produce safe cosmetics products. Various government policies and improved regulatory frameworks will positively impact regional industry growth.
 

Some of the major industry players operating in the cosmetovigilance industry includes AB Cube, Cliantha, FMD K&L, Frayer, Klinexa, MSL Solutions Providers, OC Vigilance, PharSafer, Poseidon CRO, Skill Pharma, Troy C.S. Consulting and ZEINCRO. Industry players are focusing on R&D to develop superior cosmetovigilance devices enabling minimal invasive procedure that are precise and affordable to fulfil increasing consumer demand in developing countries. Strategic partnership, collaboration and agreement are some of the major strategies adopted by industry players to sustain competition in the market.

Cosmetovigilance Market By Service Type, 2014-2025 (USD Million)

  • Pre-marketing services
    • Clinical safety testing
    • Document writing
    • Risk management
    • Others
  • Post-marketing services
    • Case intake
    • Case triage
    • Data entry & acquisition
    • Tracking and reporting
    • Others

Cosmetovigilance Market By End-use, 2014-2025 (USD Million)

  • Clinical research organizations (CROs)
  • Business process outsourcing (BPOs)
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Mexico
    • Brazil
  • Middle East and Africa
    • Saudi Arabia
    • South Africa

Company Profiles:

  • AB Cube
  • Cliantha
  • FMD K&L
  • Frayer
  • Klinexa
  • MSL Solutions Providers
  • OC Vigilance
  • PharSafer
  • Poseidon CRO
  • Skill Pharma
  • Troy C.S. Consulting
  • ZEINCRO

What Information does this report contain?

Historical data coverage: 2014 to 2018; Growth Projections: 2019 to 2025.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.


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