MARKET OVERVIEW
Cosmetovigilance is the continuous monitoring service of cosmetics in accordance with the regulatory compliances offered by the authorities. This service is not only contains managing the clinical trials of the products and whether the product is feasible to be commercialized, but also continues the monitoring cosmetics after they have been commercialized. This cosmetics surveillance system was first initiated by the French health products safety agency and was meant to be a part of pharmacovigilance system for cosmetics. Whereas today, cosmetovigilance is recognized as a public health concept to promote the safety of cosmetic products globally.
MARKET SCOPE
The "Global Cosmetovigilance Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Cosmetovigilance market with detailed market segmentation by service type, categories, service provider and geography. The report provides key statistics on the market status of the leading Cosmetovigilance market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on service type, the global Cosmetovigilance market is segmented into pre-marketing services, post-marketing services.
- Based on categories, the market is categorised into skincare, makeup, haircare, perfumes and deodorants, hair colorants.
- Based on service provider, the market is categorised into clinical research organizations (CROs), business process outsourcing (BPOs).
MARKET DYNAMICS
Drivers:
- Increasing Risk associated with the use of cosmetics
- Favorable government regulations in developed countries
- Technological advancements
- Growing accessibility for reporting adverse events on cosmetic products
Restraints:
- Lack of awareness in developing and underdeveloped countries.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Cosmetovigilance market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Cosmetovigilance market in these regions.
IMPACT OF COVID-19ON COSMETOVIGILANCE MARKET
The COVID-19 pandemic has emerged as a major humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses. Industry closures and lockdown has resulted in a significant disruption in terms of money and economic growth. More than 200 million people affected globally, with 4,300,000 losing their lives due to SARS-CoV-2. Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers. Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to cosmetic products has been reduced and this segment have to face negligence subsequently causing negative impact on Cosmetovigilance market.
MARKET PLAYERS
The report covers key developments in the Cosmetovigilance market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Cosmetovigilance market are anticipated to lucrative growth opportunities in the future with the rising demand for Cosmetovigilance in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Cosmetovigilance market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- iSafety
- ZEINCRO
- POSEIDON CRO
- MSL Solution Providers
- AxeRegel
- Cliantha
- Freyr
- Pure Drug Safety
- KMJ pharma
- TheraSkin
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
