Global Cosmetovigilance Market Size To Grow Stunningly With A CAGR of 4.56% from 2024 to 2032
As per Zion Market Research, the global cosmetovigilance market was capitalized at USD 11.24 Billion in 2023 and is predicted to grow at a CAGR of 4.56% between 2024 and 2032.
Major players in the global market are ZEINCRO, iSafety, FMD K&L, Skill Pharma, MSL Solution Providers, Poseidon CRO, Pharmathen, AxeRegel, PharSafer, Cliantha, OC Vigilance, and Freyr.
Global Cosmetovigilance Market Definition
Cosmetovigilance is a comparatively new concept combined of two terms: pharmacovigilance, which refers to activities like collecting, detecting, evaluating, measuring, and preventing adverse effects while using medications, and cosmetics, are products that are used by the human for the purpose of beautifying, enhancing attractiveness, or altering the appearance. Cosmetovigilance is the constant monitoring service of cosmetics concerning the regulatory compliances provided by the authorities. It is the continuing and organized monitoring of the safety of cosmetics in heads of human health.
This service not just includes leading the clinical trials of the products also whether the product is feasible to be sold, but also extends the monitoring of cosmetics after they have been sold. This service manages the database of grievances registered for the product or a particular material being used in that product managing the effects of the product. Its main goal is to detect adverse consequences of cosmetic products and to prevent unfavorable effects by taking relevant actions.
Increasing Adoption Of Cosmetic Goods In Developing And Developed Nations To Power The Growth Of The Global Market
Increasing adoption of cosmetic goods in developing and developed nations will majorly power the growth of the global market. Awareness amongst users related to enhancements in aesthetic appearance will increase the requirement for cosmetics in the years to come. As per Cosmetics Europe, Germany shelled out almost USD 19.4 billion on cosmetics in 2023. Risks related to cosmetic goods have increased the requirement for cosmetovigilance offerings. The rising number of negative impacts of the employment of cosmetics is predicted to power the growth of the global cosmetovigilance market in the coming period.
Government Rules Regarding Adverse Impacts Reported For Different Cosmetic Goods To Favor Growth Of The Global Market
In addition to this, strict government rules regarding adverse impacts reported for different cosmetic goods will favor the growth of the global market. Side effects of cosmetics due to the existence of adulterants or impurities are reported that drive the growth of the market. Rising awareness amongst users in developed nations related to reporting of side effects caused by cosmetic goods will power the growth of the global cosmetovigilance market. On the other hand, a lack of awareness in underdeveloped and developing nations related to cosmetovigilance might hinder market growth over the years to come.
Europe To Maintain Huge Income Share For The Global Market Over The Years To Come
Europe added up for over 1/3rd of the income share for the global market in 2023 and is predicted to maintain the same situation over the years to come due to strict laws for cosmetic goods in the EU. The rules laid by the EU need firms to assess and collect reports of side effects on health from their marketed cosmetic goods. In addition to this, the launch of a centralized alert system has resulted in huge enhancements in the present regulatory situation and has benefitted the non-EU as well as multinational firms. Hence, the focus of firms on launching safe cosmetics will increase the regional growth of the market.
Cosmetovigilance Market: Competitive Analysis
The global cosmetovigilance market is dominated by players like:
- Pharmathen
- Skillpharma
- Cliantha Research Limited
- Poseidon CRO
- AxeRegel Regulatory consulting
- PharSafer Associates Ltd
- FREYR Battery
- OC VIGILANCE SL
- MSL Solutions Providers
- FMD K&L
- ZEINCRO HELLAS S.A.
The global cosmetovigilance market is segmented as follows:
By Service Type
- Pre-marketing ServicesClinical Safety TestingDocument WritingRisk Management
- Post-marketing ServicesCase IntakeCase TriageData Entry & AcquisitionTracking & Reporting
By Reported Categories
- Skincare
- Makeup
- Haircare
- Perfumes and Deodorants
- Hair Colorants
By Service Provider
- Clinical Research Organizations (CROs)
- Business Process Outsourcing (BPOs)
By Region
- North AmericaThe U.S.Canada
- EuropeFranceThe UKSpainGermanyItalyRest of Europe
- Asia PacificChinaJapanIndiaSouth KoreaSoutheast AsiaRest of Asia Pacific
- Latin AmericaBrazilMexicoRest of Latin America
- Middle East & AfricaGCCSouth AfricaRest of Middle East & Africa
About Us:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us — after all — if you do well, a little of the light shines on us.
Contact Us:
Zion Market Research 244 Fifth Avenue, Suite N202 New York, 10001, United States Tel: +49–322 210 92714 USA/Canada Toll-Free №1–855–465–4651 Email: sales@zionmarketresearch.com Website: https://www.zionmarketresearch.com