Cosmetovigilance Market Development Status and Opportunities Forecast to 2025
Category: #headline  By Ronak Bora  Date: 2021-03-17
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Cosmetovigilance Market Development Status and Opportunities Forecast to 2025

The cosmetovigilance market is poised to record substantial gains backed by favorable government policies and regulations across developed countries. Presence of regulatory bodies and committees that provide an opinion on the safety and health risks associated with the use of cosmetics is anticipated to drive the overall industry growth. For instance, European regulations require the reporting of serious and undesirable effects of cosmetics to product manufacturers and authorities of other member states.

Cosmetics contain several chemical compounds including paraben, coal tar, mercury, lead, 1,4-dioxane, mineral oil and methylisothiazolinone that can cause various skin problems like rashes, burning, allergy and acne. The need to prevent such severe side effects of cosmetics on human health could drive the requirement for cosmetovigilance.

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In terms of service type, pre-marketing services segment will grow around 6.8% over the forthcoming time period. Growing incidence of cosmetics with harmful effects is leading to number of infection cases among users, which is likely to augment the segment expansion. In an effort to overcome these problems, safety tests such as photosensitization, which ensures the quality of a cosmetic product, is increasingly being conducted today. All in all, growing use of such safety tests is likely to support cosmetovigilance market growth.

With respect to reported categories, perfumes & deodorants will witness substantial growth over the coming years. In 2018, the segment accounted for 11%  revenue share of the overall market. a plethora of chemicals like aluminum chloride hexahydrate, triclosan, paraben, and fragrances, are majorly used in deodorant. The presence of these chemicals might cause skin irritation, burning, and even cancer in users. The risks associated with the use of these cosmetic product would increase the demand for safe and clinically approved products, which will foster the growth of this segment.

The perfumes and deodorants segment held for more than 11% of revenue share in 2018, and is anticipated to rise steadily during the forecast period. Several risks related to the use of cosmetic products like perfumes and deodorants could drive the need for cosmetovigilance services. Deodorants contain a group of chemicals such as triclosan, paraben, aluminum chloride hexahydrate and fragrances which can cause skin irritation, burning and even cancers.

Cliantha, OC Vigilance, Poseidon CRO, AxeRegel, ZEINCRO, MSL Solution Providers, PharSafer, iSafety, FMD K&L, Freyr, ZEINCRO, Pharmathen, and Skill Pharma among others are some of the key players operating in the cosmetovigilance market.

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Partial Chapter of the Table of Content

Chapter 5. Cosmetovigilance Market, By Reported Categories

5.1. Key segment trends

5.2. Skincare

5.2.1. Market size, by region, 2014-2025 (USD Million)

5.3. Makeup

5.3.1. Market size, by region, 2014-2025 (USD Million)

5.4. Haircare

5.4.1. Market size, by region, 2014-2025 (USD Million)

5.5. Perfumes and deodorants

5.5.1. Market size, by region, 2014-2025 (USD Million)

5.6. Hair colorants

5.6.1. Cosmetovigilance Market size, by region, 2014-2025 (USD Million)

5.7. Others

5.7.1. Market size, by region, 2014-2025 (USD Million)

Chapter 6. Cosmetovigilance Market, By Service Provider

6.1. Key segment trends

6.2. Clinical Research Organizations (CROs)

6.2.1. Market size, by region, 2014-2025 (USD Million)

6.3. Business Process Outsourcing (BPOs)

6.3.1. Market size, by region, 2014-2025 (USD Million)

Browse full table of contents (TOC) of this report @ https://www.decresearch.com/toc/detail/cosmetovigilance-market

 

About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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