Global Cosmetovigilance Market 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.

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.

Browse the full “Cosmetovigilance Market by Service Type (Pre-Marketing Services [Clinical Safety Testing, Document Writing, Risk Management, and Others], and Post-Marketing Services [Case Intake, Case Triage, Data Entry & Acquisition, Tracking & Reporting, and Others]), by Reported Categories (Skincare, Makeup, Haircare, Perfumes & Deodorants, Hair Colorants, and Others), by Service Provider (Clinical Research Organizations, and Business Process Outsourcing), and by Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2024 - 2032.” Report at https://www.zionmarketresearch.com/report/cosmetovigilance-market

The global cosmetovigilance market is segmented as follows:

By Service Type

• Pre-marketing Services
  • Clinical Safety Testing
  • Document Writing
  • Risk Management
• Post-marketing Services
  • Case Intake
  • Case Triage
  • Data Entry & Acquisition
  • Tracking & 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 America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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