Press Release

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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Dermatology Contract Research Organization (CRO) Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type ( Drug Discovery, Preclinical, Clinical), By Service Type (Laboratory, Technology, Medical Writing, Regulatory/Medical Affairs, Others), By Region and Competition

Healthcare | Nov, 2023

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.

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