Cosmetovigilance Market Share, Size, Trends, Industry Analysis Report, By Category (Skincare, Make-up, Haircare, and Perfume & Deodorants); By Service Type; By Phase Type; By Region; Segment Forecast, 2024- 2032
- Published Date:Mar-2024
- Pages: 116
- Format: PDF
- Report ID: PM4803
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
Global cosmetovigilance market size was valued at USD 9.84 billion in 2023. The market is anticipated to grow from USD 10.33 billion in 2024 to USD 15.38 billion by 2032, exhibiting the CAGR of 5.1% during the forecast period.
Market Overview
Cosmetovigilance encompasses the surveillance and monitoring of adverse effects or incidents related to cosmetic products similar to pharmacovigilance for drugs, to prioritizes the safety of cosmetic products, aiming to detect, assess, understand, and prevent any adverse effects or risks associated with their use. Factors such as growing public awareness regarding cosmetic product safety, stringent regulatory standards to protect consumers, and the ever-evolving beauty industry, with its constant introduction of new ingredients and formulations, have spurred the demand for cosmetovigilance services.
Additionally, cosmetovigilance enables the early identification of safety issues linked to cosmetic products, such as skin irritation, allergic reactions, and microbial contamination. This allows product manufacturers to promptly take necessary safety measures to mitigate potential risks associated with product use.
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The globalization of cosmetic markets has led to the expansion of product distribution across diverse geographic regions with varying regulatory requirements. Consequently, ensuring compliance with regulatory standards has become more complex, necessitating the implementation of comprehensive cosmetovigilance strategies.
Moreover, the cosmetic industry's rapid innovation and continual introduction of new ingredients and formulations underscore the need for robust safety assessment and monitoring. Effective cosmetovigilance measures help mitigate risks by proactively monitoring product safety and addressing any safety concerns in a timely manner.
Furthermore, the escalating consumer awareness and growing concerns regarding product safety have significantly increased the demand for cosmetovigilance. Consumers worldwide now expect transparency, accurate labeling, and safe cosmetic products. Additionally, with the constant influx of novel products and evolving consumer preferences on a global scale, the personal care and beauty sector has become dynamic, due to the emergence of cosmetovigilance as a cornerstone of responsible product stewardship.
Growth Factors
Increasing incidence of allergic reactions to drive growth
The increasing incidence of allergic reactions is expected to drive the growth of the cosmetovigilance market. Allergic reactions to cosmetic products, such as skin irritation, redness, itching, and swelling, have become more prevalent due to various factors, including the introduction of new ingredients, formulations, and fragrances in cosmetics.
As consumers become more aware of the potential risks associated with cosmetic use, they are increasingly reporting adverse reactions to regulatory authorities and seeking safer alternatives. This growing awareness and concern about product safety are prompting regulatory agencies to impose stricter regulations and surveillance measures on cosmetic manufacturers.
New cosmetic product development and globalization of markets to spur market growth
The increase in the number of new cosmetic products introduced into the market by key companies creates a greater need for cosmetovigilance to monitor and ensure the safety and quality of different products. Also, the globalization of cosmetic markets leads to significant modifications to regulations and standards. It makes it necessary for companies to ensure compliance with regulatory requirements, driving the need for cosmetovigilance market
For instance, organic harvest announced the launch of its new make-up line with various certified organic ingredients. The new product line includes matte liquid lipstick, BB cream, liquid eyeliner, matte compact, kohl, and matte lipstick.
Restraining Factors
Lack of Regulatory Mandates
In some regions, there may be a need for comprehensive regulatory requirements mandating cosmetovigilance practices. Without clear regulatory guidelines, cosmetic companies may not prioritize investment in cosmetovigilance activities, due to gaps in surveillance and monitoring of adverse events. Also, there needs to be more knowledge and more information about the availability and uses of cosmetovigilance in developing countries that are restraining its growth.
Report Segmentation
The market is primarily segmented based on category, service type, phase type, and region.
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By Category |
By Service Type |
By Phase Type |
By Region |
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By Category Insights
The skincare segment accounted for the largest share in 2023
The skincare segment accounted for the largest share in 2023. This is attributed to a substantial increase in the consumption of skincare products, which fuels the demand for cosmetovigilance to ensure safety and quality and monitor adverse chemical reactions on human skin. Several skincare products are made with chemicals like sulfates, parabens, and polyethylene glycol, which are said to be harmful to the skin and cause irritation to the skin and eyes, further necessitating the use of cosmetovigilance.
The Perfume & deodorants segment is expected to grow at a significant CAGR during the forecast period. This growth is attributable to increasing demand for clinically proven and safer perfume products worldwide and growing awareness among people regarding the side effects associated with perfume and deodorant products, such as skin rashes and dizziness. As perfume & deodorants often include harmful chemicals like phthalates, triclosan, and talc that cause several issues, including skin irritation, reproductive issues, and lung tumors, driving the demand for cosmetovigilance in perfume & deodorants.
By Service Type Insights
Post-marketing segment accounted for the largest market share in 2023
The post-marketing segment accounted for the largest market share in 2023. This dominance is attributed to the widespread use of this cosmetovigilance service to assess the effectiveness and safety of an intervention in real-world settings. In addition, significant advancements in technologies such as AI-based tools and digital platforms allow for the more efficient monitoring of product safety and quality, further contributing to the segment’s growth.
The pre-marketing segment is projected to grow rapidly. This is primarily due to enhanced product safety, cost-effectiveness, & risk mitigation. Also, the growing need for various pre-marketing services, like cosmetic product safety reports, security assessments, and product information files, is driving the segment’s growth.
By Phase Type Insights
Phase IV segment held a significant revenue share in 2023
In 2023, the phase IV segment held a significant revenue share. The segment’s dominance is due to its ability to accurately identify potential adverse medication reactions and offer an extra layer of safety for cosmetic products that are undergoing clinical trials. Moreover, this phase includes assessing several other factors, such as formulation, stability, and manufacturing processes of cosmetics, to mitigate any identified risks. These phase studies are mainly required by regulatory authorities and sponsoring companies for competitive purposes and several other reasons.
The Phase III segment will grow at the fastest pace. This growth is fueled by the growing use of these trials to determine product efficacy before commercialization and their ability to offer several other details, including interactions and product safety.
Regional Insights
The North American region dominated the largest market share in 2023
In 2023, the North American region dominated the largest market share. The region’s dominance is accelerated by the robust presence of countries with the highest cosmetic and skincare expenditures and awareness about the potential risks associated with cosmetic products. In addition, the favorable and well-established regulatory framework for cosmetic product development further propels the region’s growth.
The Asia Pacific region is anticipated to witness the fastest CAGR growth during the upcoming period. The region’s growth is fueled by factors such as increasing consumer disposable income that allows them to spend more on cosmetics and a growing number of CROs providing effective cosmetovigilance services in the region. As the rising income levels lead to a significantly larger middle-class population across the region, the private consumption of beauty and personal care products is growing dramatically, which is positively impacting the market.
Key Market Players & Competitive Insights
The cosmetovigilance market is fragmented in nature and is anticipated to witness competition due to several players' presence. As consumers are becoming aware of cosmetic safety issues and government authorities are focusing on developing favorable regulations regarding the use of cosmetovigilance, the competitiveness among companies is growing. Key companies offer a range of cosmetovigilance services, including adverse event reporting, risk assessment, regulatory compliance, and post-market surveillance.
Some of the major players operating in the global market include:
- AB Cube
- Accenture
- Accenture Pharma
- Aixial Group
- AxeRegel
- Biofrontera AG
- Di Renzo
- OC Vigilance
- PharSafer
- Poseidon CRO
- Proclinical
- SKILLPHARMA S.R.L.
Recent Developments in the Industry
- In May 2023, Biofrontera announced that the Belixos ACTIVE CARE has extended its active cosmetic series called Belixos. This is a skin-soothing care foam developed for itchy and irritated skin, used as primary care for psoriasis and atopic dermatitis.
- In December 2023, Biofrontera AG was granted a U.S. patent for a dermatological skin disorder therapy utilizing PDT (Photodynamic Therapy), applying two light orientations at different wavelengths to safeguards their drug, Ameluz.
Report Coverage
The cosmetovigilance market report emphasizes on key regions across the globe to provide better understanding of the product to the users. Also, the report provides market insights into recent developments, trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides detailed analysis of the market while focusing on various key aspects such as competitive analysis, service type, phase type, category, and their futuristic growth opportunities.
Cosmetovigilance Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 10.33 billion |
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Revenue forecast in 2032 |
USD 15.38 billion |
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CAGR |
5.1% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
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Regional scope |
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Competitive Landscape |
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Report Format |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
FAQ's
The global cosmetovigilance market size is expected to reach USD 15.38 billion by 2032
Key players in the market are AB Cube, Accenture, Accenture Pharma, Aixial Group
North American contribute notably towards the global Cosmetovigilance Market
Cosmetovigilance market exhibiting the CAGR of 5.1% during the forecast period.
The Cosmetovigilance Market report covering key segments are category, service type, phase type, and region.
