Market Overview:
The global cosmetovigilance market size is expected to reach USD 15.38 billion by 2032, exhibiting the CAGR of 5.1% during the forecast period.
Market Introduction
Cosmetic products are defined as mixtures or substances that are intended to be placed in contact with external body parts such as nails, lips, hairs, and epidermis, amongst others. Also, they can be attached to the teeth or the oral cavity’s mucous membranes. Cosmetics can have various functions, including cleaning, perfuming, protecting, or enhancing the appearance of products they’re attached to. Cosmetovigilance refers to the continuous complication, evaluation, and monitoring of cosmetic products by cosmetic companies. It is a new concept of monitoring the safety of cosmetics in terms of human health. Cosmetovigilance aims to detect the adverse side effects of cosmetics and to prevent them by taking apt measures.
Download Free Sample PDF Copy of the Report:
https://www.polarismarketresearch.com/industry-analysis/cosmetovigilance-market/request-for-sample
Key Participants
The market for cosmetovigilance is fragmented. It is anticipated to witness competition owing to the presence of several key players. Some of the top industry participants in the global market are:
- AB Cube
- Accenture
- Accenture Pharma
- Aixial Group
- AxeRegel
- Biofrontera AG
- Di Renzo
- OC Vigilance
- PharSafer
- Poseidon CRO
- Proclinical
- SKILLPHARMA S.R.L.
Segmental Overview:
Cosmetovigilance Market, Category Outlook (Revenue – USD Billion, 2019-2032)
- Skincare
- Make-up
- Haircare
- Perfume & Deodorants
Cosmetovigilance Market, Service Type Outlook (Revenue – USD Billion, 2019-2032)
- Pre-marketing
- Post-marketing
Cosmetovigilance Market, Phase Type Outlook (Revenue – USD Billion, 2019-2032)
- Pre-clinical
- Phase I
- Phase II
- Phase III
- Phase IV
- The cosmetovigilance market segmentation is primarily based on category, service type, phase type, and region.
- By category insights, the skincare segment accounted for the largest share, owing to a substantial increase in the consumption of skincare products.
- By service type insights, the post-marketing segment witnessed the largest market share due to the widespread use of this cosmetovigilance service to assess the effectiveness in real-world settings.
Recent Developments:
- Biofrontera’s Belixos ACTIVE CARE Extension (May 2023)
Biofrontera introduced Belixos ACTIVE CARE, an addition to its active cosmetic series, Belixos. This skin-soothing care foam is designed to relieve itchy and irritated skin and serves as a primary care solution for individuals with psoriasis and atopic dermatitis. - Patent Granted for Photodynamic Therapy Innovation (December 2023)
Biofrontera AG received a U.S. patent for its novel therapy addressing dermatological skin disorders. The approach utilizes Photodynamic Therapy (PDT) with two light orientations at different wavelengths. This patent supports the company’s proprietary drug, Ameluz, enhancing its treatment portfolio for skin disorders.
Growing urbanization, increased consumer disposable incomes, increasing influence of social media platforms, and surging younger women population are key factors driving the need for cosmetovigilance because such factors propel the demand for cosmetics, which requires cosmetovigilane to ensure their safety and quality.