Global Cosmetovigilance Market: Overview

Cosmetovigilance market report aims to provide an in-depth overview of various growth opportunities and challenges in the market. Cosmetovigilance are safety related clinical trials which help cosmetic industry sectors to comply with regulations.

Food and Drug Administration or the FDA did not monitor cosmetic products directly prior to July 2013. However, today it relies on general guidelines and continuous methodical assessments to assess safety. Hence, it is considered the responsibility of individual manufacturers to make sure their products do not cause any harm. Usually players in the cosmetovigilance market are expected to test cosmetic products for safety before they are marketed, and then document the side-effects through a continuous process.

According to the FDA, the cosmetic products are “articles intended to be rubbed, poured, sprinkled, or sprayed on”. Products included in this category are lipsticks, perfumes, skin moisturizers, facial makeup preparations, and shampoos. US state have independent authority to legislate cosmetic products despite the general guideline of the FDA. European laws regarding cosmetovigilance. The 1976 legal guideline says, cosmetic products, ‘must not cause damage to human health’. The legislation in Europe also requires companies to file a report on a regular basis.  European lawmakers defined ‘serious adverse effect’ as temporary functional incapacity, hospitalization, disability, and congenital anomalies, etc. Broadly defined legislations and growing demand for cosmetic products are expected to drive growth of the cosmetovigilance market.

Global Cosmetovigilance Market: Notable Developments

  • Global Trade association recently reported optimism regarding the global regulatory convergence. According to them, regulation agencies like CSAR or China’s Cosmetic Supervision and Administration Regulations have moved from being heavily regulated towards in-market control. This is expected to be a major boost to the cosmetovigilance market.
  • Portugal announced decision to implement EU regulations related to cosmetics in the country. EU regulations have been widely praised by trade associations for their efficacy. The expansion of these regulations in a new market are expected to emerge as a boon for the cosmetovigilance market.
  • A French consumer group has shot a warning to consumers about lip balms. According to the group, lip balms may contain toxic substances such as carcinogens. They found cosmetic products in the UK too to contain these substances. The agency found over half products in the market to be filled with carcinogenic substances. According to the report, if these substances were digested mistakenly, they were extremely harmful. Reports like these are expected to restrain growth of the cosmetovigilance market.

Rising Demand to Drive Growth for the Cosmetovigilance market

Cosmetic products are increasingly appealing to young consumers around the world. The advent of social media, launch of new products, and growing demand in emerging regions such as Asia Pacific are key factors driving growth. Additionally, growing regulatory convergence is also expected to boost the global cosmetovigilance market. Countries like India are experiencing rising disposable incomes, changing lifestyle encouraging the beautification of external beauty, and rising awareness of cosmetovigilance market. Earlier, India had considerable in-depth regulations dividing cosmetics into various categories for purposes of identification and monitoring. However, the regulations have opened up in recent times in line with the expectations of the cosmetic industry and promises considerable growth in the near future.

Cosmetovigilance Market: A Regional Outlook

Latin America, Middle East & Africa are also witnessing encouraging environment for the growth of the cosmetovigilance market. The tax benefits and job creation provided by the cosmetic industry is encouraging development in many regions. Hence, the regulatory environments in emerging countries promises to be flexible and lucrative for players in the cosmetovigilance market.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Cosmetovigilance Market

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