Sarasota, FL -- (SBWIRE) -- 04/26/2019 -- Global Cosmetovigilance Market: Overview
Cosmetovigilance is the systematic checking or detecting of cosmetics safety for ensuing that the human health is not impacted. The objective behind this is to prevent the side effects of cosmetics on human skin by enforcing required measures.
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Global Cosmetovigilance Market: Growth Factors
Escalating popularity of using cosmetics to improve the looks is slated to steer the overall Cosmetovigilance market expansion. Consciousness among end-users regarding enhancements in aesthetic appeal will scud up the popularity of cosmetics during the assessment period. Additionally, technological breakthroughs witnessed in Cosmetovigilance software will beneficially leverage Cosmetovigilance market revenue over the upcoming years. Nevertheless, lower level of consciousness regarding Cosmetovigilance in emerging as well as less developed economies will put brakes on Cosmetovigilance market surge over the foreseeable future. Nonetheless, introduction of appropriate vigilance system addressing the health concerns of the consumers along with the streamlining of the Cosmetovigilance process is likely to generate new ripples of growth for the market over the forthcoming years.
Global Cosmetovigilance Market: Segmentation
The global Cosmetovigilance market can be classified into service type, reported categories, and service provider. Based on the service type, the market is sectored into pre-marketing services and post-marketing services. On the basis of reported categories, the market is classified into skincare, hair colorants, perfumes & deodorants, makeup, and Haircare. Based on the service provider, the market is classified into clinical research organizations and business process outsourcing.
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Global Cosmetovigilance Market: Regional Analysis
Based on region, the global Cosmetovigilance market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. European region is estimated to make substantial contributions towards the global Cosmetovigilance market revenue during the projected timeframe, subject to strict legislations pertaining to use of cosmetic items in the EU. However, launching of centralized notification system has resulted in massive enhancement in the present regulatory scenario, thereby benefitting multinational as well as firms not based in EU countries. This, in turn, is predicted to drive the market trends in Europe.
North American Cosmetovigilance market is slated to witness an incessant growth over the next decade, subject to massive consumer expenditure on cosmetics as well as awareness among the consumers pertaining to appearance, beauty, and appeal. In addition, growing consciousness among both the government as well as consumers regarding the use of ingredients in cosmetic items will proliferate the regional market growth.
Asia Pacific, Latin America, and the Middle East and Africa are projected to be the major market growth drivers in the coming decade.
Global Cosmetovigilance Market: Competitive Players
Some of key players in Cosmetovigilance market are Pharmathen, Skill Pharma, Cliantha, Poseidon CRO, AxeRegel, PharSafer, Freyr, OC Vigilance, MSL Solutions Providers, FMD K&L, and ZEINCRO. These firms have garnered enormous profits by harnessing available growth opportunities in the market. Furthermore, players enforce myriad business strategies such as mergers & acquisitions, joint ventures, partnerships, strategic collaborations, and new product launches to sustain cut-throat business competition.
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Global Cosmetovigilance Market: Regional Segment Analysis
North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa