Dermatology Contract Research Organization (CRO) Market to Grow with a CAGR of 6.11% through 2028
Increasing prevalence of skin disorders and expanding regulatory
compliance and quality assurance are factors driving the Global Dermatology
Contract Research Organization (CRO) market in the forecast
period 2024-2028.
According to TechSci Research report, “Dermatology
Contract Research Organization (CRO) Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Dermatology Contract
Research Organization (CRO) Market stood at USD 4.65 billion in 2022 and is
anticipated to grow with a CAGR of 6.11% in the forecast period, 2024-2028. The global dermatology contract research organization (CRO) market has
experienced significant growth in recent years, driven by various factors that
reflect the evolving landscape of dermatological research and development.
Dermatology CROs play a pivotal role in accelerating the development of
dermatological therapies and products, catering to the growing demand for
innovative solutions to address skin-related disorders. One of the primary
drivers of the global dermatology CRO market is the escalating prevalence of
skin disorders worldwide. Conditions like acne, psoriasis, eczema, and skin
cancer affect millions of people, driving the demand for novel treatments and
therapies. Dermatology CROs are instrumental in conducting clinical trials to
test the safety and efficacy of new dermatological products, thereby addressing
this unmet medical need. The
field of dermatology has witnessed significant advances in research and
development, with an emphasis on precision medicine and personalized
treatments. These advancements have led to the discovery of new therapeutic
targets and innovative treatment modalities. Dermatology CROs, equipped with
cutting-edge technologies and expertise, are essential in facilitating these
research efforts, attracting investments and partnerships from pharmaceutical
and biotechnology companies.
The cosmetic dermatology market has been
expanding rapidly, driven by the increasing desire for youthful and
healthy-looking skin. Procedures such as Botox injections, dermal fillers, and
laser treatments are in high demand. Dermatology CROs are involved in
conducting clinical trials to assess the safety and efficacy of these cosmetic
procedures and products, playing a pivotal role in ensuring patient safety and
product effectiveness. Pharmaceutical and biotechnology
companies are increasingly outsourcing their research and development
activities to CROs to reduce costs and enhance efficiency. Dermatology CROs
offer specialized services tailored to the unique needs of dermatological research,
making them an attractive option for companies looking to streamline their
operations. This outsourcing trend has contributed significantly to the
expansion of the global dermatology CRO market.
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The Global Dermatology Contract Research Organization
(CRO) Market is segmented into type, service type and company. Based on service
type, the regulatory/medical
affairs segment has emerged as the predominant market leader. Regulatory/Medical
Affairs professionals help pharmaceutical companies understand and navigate the
complexities of market access and reimbursement strategies. This includes
securing reimbursement agreements with healthcare payers and formulating
pricing strategies for dermatological products. Based on region, North America segment is expected to
grow during the forecast period. North America is home to some of
the world's largest pharmaceutical companies, many of which have a significant
focus on dermatological research. This proximity enables CROs to forge strong
partnerships with industry leaders, driving growth in the dermatology CRO
sector. The Asia Pacific
region is experiencing rapid market growth. The region has a well-educated and
skilled workforce, including dermatologists, clinical researchers, and
regulatory experts. This talent pool contributes to the success of dermatology
CROs, as they can attract and retain top talent.
Major companies operating in Global Dermatology
Contract Research Organization (CRO) Market are:
- IQVIA, Inc
- Aragen Life Sciences Ltd
- Pharmaceutical Product Development, Inc.
(Thermo Fisher Scientific Inc.)
- Parexel International Corporation
- Charles River Laboratories
- Icon, Plc
- Medidata Solutions
- Syneos Health pvt ltd.
- S Pharmaron inc.
- Wuxi Apptec
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“The global dermatology contract research organization
(CRO) market is driven by a combination of factors, including the rising
prevalence of skin disorders, advances in dermatological research, the growth
of the cosmetic dermatology market, regulatory compliance requirements,
outsourcing trends, technological advancements, and the globalization of
clinical trials. These drivers collectively fuel the expansion of the market,
making dermatology CROs indispensable players in the pursuit of innovative
dermatological therapies and products.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Dermatology Contract Research Organization
(CRO) Market By Type ( Drug Discovery,
Preclinical, Clinical), By Service Type (Laboratory, Technology, Medical
Writing, Regulatory/Medical Affairs, Others), By Region, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Dermatology Contract Research
Organization (CRO) Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Dermatology
Contract Research Organization (CRO) Market.
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