What are the Historical Developments and Current Growth Metrics of the Cosmetovigilance Market?
The cosmetovigilance market has seen considerable growth due to a variety of factors.
•The market size of cosmetovigilance has experienced significant expansion lately. The forecast suggests an increase from $3.46 billion in 2024 to $3.73 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.8%.
Factors contributing to this growth during the historic period include regulatory compliance, a rise in consumer awareness, mandatory adverse event reporting, the global widening of the market, and efforts towards brand protection.
What Does Future Hold for The Cosmetovigilance Market Size?
The cosmetovigilance market is expected to maintain its strong growth trajectory in upcoming years.
• It is predicted that the cosmetovigilance market will experience considerable expansion in the coming years, reaching a worth of $5.07 billion by 2029 at a 7.9% compound annual growth rate (CAGR).
The acceleration during the forecasted period is mainly due to growing regulatory oversight, enhanced consumer desire for transparency, the evolution of market dynamics, globalisation-related obstacles, partnerships with regulatory institutions and fast-paced product innovation. Key trends projected to define this period include the utilization of large scale data analysis, strategic alliances for data exchange, increased emphasis on after-sales surveillance, initiatives to educate consumers, and integration with pharmacovigilance practices.
What Key Factors and Trends are Driving the Growth of the Cosmetovigilance Market?
The burgeoning demand for cosmetic products is set to fuel the expansion of the cosmetovigilance market in the future. Cosmetics, defined as products applied to the human body for cleaning, enhancing attractiveness, modifying looks, or fostering skin or hair health, are becoming increasingly popular. Cosmetovigilance plays a crucial role by enabling consumers to gauge the quality of a cosmetic product through safety monitoring mechanisms. Consequently, the growing consumption of cosmetics is heightening the need for cosmetovigilance. For example, a report by the Global Cosmetic Industry in April 2023 revealed that a beauty and personal care firm from the U.S. saw its U.S. premium beauty sales soaring by 16% year on year in Q1 2023 to touch $6.6 billion. Hence, the escalating use of cosmetics is steering the cosmetovigilance market's growth trajectory.
What are the Market Segments in the Cosmetovigilance Market?
The cosmetovigilance market covered in this report is segmented –
1) By Service Type: Pre- marketing Services, Post- marketing Services
2) By Reported Category: Skincare, Makeup, Haircare, Perfumes And Deodorants, Hair Colorants, Other Reported Categories
3) By Service Providers: Clinical Research Organizations (CROs), Business Process Outsourcing (BPOs)
Subsegments:
1) By Pre- marketing Services: Safety Assessments, Clinical Trials, Regulatory Compliance Consulting
2) By Post- marketing Services: Adverse Event Reporting, Risk Management, Periodic Safety Update Reports (PSURs), market Surveillance
Pre-Book The Cosmetovigilance Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends are Shaping the Cosmetovigilance Market?
A notable trend in the cosmetovigilance market is the increased implementation of new government regulations. For example, the Modernization of Cosmetics Regulation Act of 2022 (MoCRA) was endorsed into law in December 2022. This significant legislation originating from the United States heralds the most extensive augmentation of the Food and Drug Administration's (FDA) power to control cosmetics since the Federal Food, Drug, and Cosmetic (FD&C) Act of 1938. The law introduces fresh requirements to the cosmetics sector, including mandatory reporting of adverse events, registration of facilities, and product listing. MoCRA is developed to boost consumer safety by mandating responsible parties to swiftly report negative occurrences and keep safety substantiation documents. Regulations for Good Manufacturing Practices, fragrance allergen labeling, and detection of asbestos in talc-based cosmetics will be established by the FDA. The law also offers exemptions for select small businesses and initiates a Voluntary Cosmetic Registration Program. To elaborate on MoCRA's fundamental terms and offerings, a webinar was hosted by FDA to reaffirm its dedication to carrying out and guaranteeing adherence to the new prerequisites.
Who Are the Key Players in the Cosmetovigilance Market?
Major companies operating in the cosmetovigilance market include:
• PharSafer Associates Ltd.
• Zeincro GmbH
• Skill Pharma Limited
• ClinChoice Inc.
• Poseidon Clinical Research Organization GmbH
• AxeRegel AG
• Freyr Solutions LLC
• OC Vigilance SAS
• Pure Drug Safety Inc.
• Société Générale de Surveillance
• Coronis Research S.A.
• Biorius Inc.
• B&B Associates LLP
• Medwork GmbH
• iSafety S.L.
• MSL Solution Providers LLC
• Pharmathen SA
• Cliantha Research B.V.
• Veristat LLC
• ClinAudits Inc.
• ProPharma Group International
• PrimeVigilance LLC
• Arriello Group
• Qserve Group Limited
• PharmaLex GmbH
• ELC Group LLC
• Groupe PARIMA
• Quality Assistance LLC
• PharmInvent NV
What are the Regional Insights into the Cosmetovigilance Market?
Europe was the largest region in the global cosmetovigilance market in 2024. The regions covered in the cosmetovigilance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
