Cosmetovigilance Market by Type (Skin Care Safety, Hair Colorant Safety, Perfume Safety, Hair Care Product Safety and Others), By Application (Clinical Research Organizations and Business Process Outsourcing) and Geography

 

Cosmetovigilance Market Size was valued at USD 3.1 billion in 2021. It is expected to reach a value of USD 4.72 billion by 2028, growing at a CAGR of 6.2% form 2022-2028. Growing adoption of cosmetic products in developed and developing countries, increase in the purchasing power of consumers, rise in importance of aesthetic appearance, favorable government regulations and technological advances in cosmetovigilance softwares are some key factors fueling the market growth However, factors such as lack of awareness is hampering the market growth. Cosmetovigilance is a relatively new term that combines the terms pharmacovigilance and cosmetics. Pharmacovigilance refers to activities like gathering, detecting, evaluating, measuring, and preventing adverse effects while using medications. Cosmetics, on the other hand, are goods used by people to enhance attractiveness, change appearance, or otherwise improve their appearance. Cosmetovigilance is a service that continuously monitors the regulatory compliances of cosmetics as specified by the authorities. It is the ongoing and systematic examination of the impact of cosmetics on human health.