Global Cosmetovigilance Market was valued at US$ 2.6 Bn in 2019 and is expected to reach US$ 5.1 Bn by 2027, at a CAGR of 8.79% during the forecast period.

The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.

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Global Cosmetovigilance Market Dynamics:

The increased risk associated with the use of cosmetic products is expected to drive cosmetovigilance industry growth during the forecast period. Cosmetics like skin brightening creams, moisturizers, and skin ointments contain several chemical compounds that may not suit every individual and may generate a certain type of skin reaction resulting in high demand for cosmetovigilance services. In addition, beauty products and shampoos can also cause skin irritations and rashes.

Adverse events are reported against these conditions that prove beneficial for industry growth as it upsurges the demand for fixation of the condition. However, lack of awareness regarding cosmetovigilance in developing and underdeveloped countries will hinder cosmetovigilance market growth in the predictable future.
Global Cosmetovigilance Market Segment Analysis:

Based on a service provider, the business process outsourcing (BPO) segment is projected to show over 6% CAGR during the forecast period. Increasing preference of companies towards outsourcing vigilance activities to retain its focus on the company’s core competencies will favor segmental growth. The growing adoption of advanced cosmetovigilance software by business process outsourcing firms will further accelerate business growth.

On the basis of reported categories, the perfumes and deodorants segment accounted for over 11% revenue share in 2019 and will grow significantly over the forecast period. A Group of chemicals like paraben, fragrances, triclosan, and aluminum chloride hexahydrate is used in deodorant. These chemicals might lead to skin burning, irritation, and cancers. Also, risks related to the cosmetic product will favor segmental growth.
Global Cosmetovigilance Market Regional Insights:

Region-wise, Europe is expected to leading the market for cosmetovigilance during the forecast period. EU Commission implements certain guidelines for reporting cases against adverse events. So, a scenario in Europe is promising for new entrants willing to grab potential share in cosmetovigilance market as the laws and trade policies are favorable. Additionally, awareness regarding the availability of the technologically advanced cosmetovigilance system is considerably high that will prove helpful for the regional industry growth.

Several leading players operating in cosmetovigilance market globally. Pharsafer Ltd. offers pharmacovigilance and medical information services. The company delivers cosmetovigilance, business development and outsourcing, consultancy, training, and audits regulatory inspection solutions.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Cosmetovigilance Market dynamics, structure by identifying and analyzing the market segments and project the global market size.

Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders prioritizing the efforts and investment in the near future to the emerging segment in the Global Cosmetovigilance Market.
Global Cosmetovigilance Market, Key Highlights:

• Global Cosmetovigilance Market analysis and forecast, in terms of value.

• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Cosmetovigilance Market

• Global Cosmetovigilance Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

• Global Cosmetovigilance Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

• Global Cosmetovigilance Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East Africa (MEA) and Latin America along with country-wise segmentation.

• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Cosmetovigilance Market are also profiled.

The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
Scope of the Global Cosmetovigilance Market Report: Inquire before buying

Global Cosmetovigilance Market, Service Type

• Pre-marketing services
o Clinical safety testing
o Document writing
o Risk management
o Others
• Post- marketing services
o Case intake
o Case triage
o Data entry acquisition
o Tracking and reporting
o Others
Global Cosmetovigilance Market, By Reported Categories

• Skincare
• Makeup
• Haircare
• Perfumes and deodorants
• Hair colorants
• Others
Global Cosmetovigilance Market, By Service Provider

• Clinical research organizations (CROs)
• Business process outsourcing (BPOs)
Global Cosmetovigilance Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Cosmetovigilance Market Key Player

• iSafety
• ZEINCR
• Skill Pharma
• FMD KL
• Poseidon CRO
• MSL Solution Providers
• AxeRegel
• Pharmathen
• Cliantha
• PharSafer
• Freyr
• OC Vigilance.
• PHARMALEX GMBH
• AB Cube
• Klinexa
• SGS SA
• Pure Drug Safety
• KMJ pharma sp. z o.o.
• TheraSkin
• CORONIS Research SA

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