Global Cosmetovigilance Market Based on Service Type: (Pre-marketing Services, Post-marketing Services) Based on Reported Categories: (Skincare, Makeup) Based on Service Provider: (Clinical Research Organizations (CROs), Business Process Outsourcing (BPOs) and by Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Cosmetovigilance Market:

The global Cosmetovigilance Market is projected to reach a valuation of USD 6,361.72 Mn by 2032 at a CAGR of 6.60%, from USD 3,357.39 Mn in 2022.

Cosmetovigilance is the term used to describe the monitoring of the adverse effects of cosmetics. The cosmetic industry is regulated by the FDA, which requires manufacturers to report any adverse events associated with their products. However, owing to a large number of products, it can be difficult to track each and every potential problem. This is where cosmetovigilance comes in. By tracking reports of adverse effects, scientists can identify potential safety issues and take corrective action.

Cosmetovigilance is the systematic and continuous monitoring of cosmetics safety in terms of human health. Its primary goal is to detect and avoid negative effects from cosmetic products by adopting suitable actions. Cosmetic product laws are primarily concerned with the safety of items that may be used by large groups of people. The process of identifying and analyzing adverse effects associated with cosmetic goods is still heavily influenced by the cosmetics industry.

Cosmetic products are used by a vast majority of individuals, and with their increasing popularity, the number of adverse effects associated with their use is also surging. As a result, the need for cosmetovigilance has become increasingly important.

The use of cosmetics is a common practice in many societies. While the benefits of using cosmetics are numerous, the potential for adverse effects is also high. Cosmetics can cause skin problems, hair loss, and other health issues. To ensure the safety of cosmetic products and to protect consumers, governments have put in place regulations governing the manufacture and sale of cosmetics. In addition, companies that manufacture cosmetics must conduct safety testing on their products before they can be sold to consumers.

Global Cosmetovigilance Market Revenue (USD Mn), 2021–2031:

The global cosmetovigilance market is expected to grow at a CAGR of 6.3% over the forecast period. This revenue growth can be attributed to increasing adverse event cases associated with the use of cosmetics products. The demand for cosmetovigilance services is also increasing due to stringent regulatory frameworks governing cosmetics products. Major players in this market are investing in R&D efforts to develop novel products and services.

Additionally, technological advancements and innovative product launches, the establishment of an effective surveillance system for monitoring and evaluating health and the adverse effects of cosmetics on users, as well as the advancement of Cosmetovigilance software solutions combined with the streamlining of the cosmetovigilance process, are all expected to open up new growth opportunities for this industry in the foreseeable future. Furthermore, the imposition of stringent rules by authorities regarding the reporting of cosmetics effects is also projected to have a favorable impact on this market’s growth. Additionally, with increasing incidences concerning the use of harmful ingredients in the production of cosmetics, the availability of larger platforms/channels to report occurrences related to the use of cosmetic items are likely to favorably benefit this market’s economic growth on a global scale.

However, the lack of knowledge and information concerning the availability of this service in several developing countries is expected to potentially restrain market growth prospects for this industry.
Cosmetic items are becoming increasingly popular, especially among younger generations around the world, due to qualities such as improved aesthetic appearance, beautification, and enhanced attractiveness, which will ensure the cosmetovigilance industry’s long-term expansion. Several factors, including as the usage of social media campaigns to promote cosmetic items, the launch of novel products, and the low cost of cosmetics, are elements fueling this market’s revenue trajectory. Increasing earnings are also supporting the market because higher incomes enable consumers with grater purchasing power, thereby facilitating the revenue growth of the cosmetovigilance industry.

This research report on the global cosmetovigilance market includes major company profiles such as:

• iSafety
• ZEINCRO GroupFMD K&L
• POSEIDON CRO
• MSL Solution Providers
• AxeRegel
• Cliantha
• Freyr
• SGS SA
• Pure Drug Safety
• KMJ pharma sp. z o.o.
• TheraSkin
• CORONIS Research SA
• PHARMALEX GMBH
• Bioclinica
• Tecnimede Group
• Sciformix
• Regultory House
• DeltaPv
• OC Vigilance
• Other Players.

Detail Segmentation:

Segmentation for Global Cosmetovigilance Market is Based on Service Type, Reported Categories, Service Provider, and Region:

Based on Service Type:

• Pre-marketing Services
• Post-marketing Services

Based on Reported Categories:

• Skincare
• Makeup
• Haircare
• Perfumes & Deodorants
• Hair Colorants

Based on Service Provider:

• Clinical Research Organizations (CROs)
• Business Process Outsourcing (BPOs)

Based on Regions:

• North America
• Europe
• Asia Pacific
• South America
• MEA

For the Cosmetovigilance Market research study, the following years have been considered to estimate the market size: