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Cosmetovigilance Market Size

Report ID: GMI3119
Published Date: Mar 2019
Report Format: PDF

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Cosmetovigilance Market Size

Cosmetovigilance Market size was valued at USD 2.6 billion in 2018 and is expected to witness 6.6% CAGR from 2019 to 2025.

Cosmetovigilance Market

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Growing adoption of cosmetic products in developed and developing countries will primarily drive the global market growth. Awareness among people regarding improvements in aesthetic appearance will surge demand for cosmetics during the forecast period. According to Cosmetics Europe, Germany spent around USD 15.4 billion on cosmetics in 2017. Risks associated with cosmetic products has elevated the need for cosmetovigilance services. Increasing number of adverse effects pertaining to use of cosmetics will foster cosmetovigilance industry growth over the analysis timeframe.

Cosmetovigilance Market Report Attributes
Report Attribute	Details
Base Year:	2018
Cosmetovigilance Market Size in 2018:	2.6 Billion (USD)
Forecast Period:	2019 to 2025
Forecast Period 2019 to 2025 CAGR:	6.6%
2025 Value Projection:	4 Billion (USD)
Historical Data for:	2014 to 2018
No. of Pages:	160
Tables, Charts & Figures:	292
Segments covered:	Service Type, Reported Categories, Service Provider, and Region
Growth Drivers:	Risk associated with the use of cosmetics Favorable government regulations in developed countries Technological advancements Growing accessibility for reporting adverse events on cosmetic products
Pitfalls & Challenges:	Lack of awareness in developing and underdeveloped countries

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Moreover, strict government actions pertaining to adverse effects reported for various cosmetic products will favour industry growth. Harmful effects of cosmetics owing to presence of impurities or adulterants are reported that fosters business growth. Increasing awareness among consumers in developed countries regarding reporting of adverse effects caused due to cosmetic products will positively impact cosmetovigilance industry growth. However, lack of awareness in developing and under developed countries pertaining to cosmetovigilance may impede industry growth over the forecast period.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market size of cosmetovigilance exceeded USD 2.6 billion in 2018.

The industry share of cosmetovigilance is expected to witness 6.6% CAGR from 2019 to 2025.

The adoption of cosmetovigilance services is extensively driven by the increasing use of cosmetic products in developed and developing countries, in an effort to enhance the aesthetic appearance.

Haircare segment would expand manifold on the account of increasing number of adverse effects put forth for the haircare products.

The prominent players include Skill Pharma, iSafety, ZEINCRO, MSL Solution Providers, OC Vigilance, Pharmathen, and various others.