Global Demand for Dermatology CRO Market to Incur Considerable Upsurge During 2023– 2030: Grand View Research Inc.

 

Dermatology CRO Market Growth & Trends

The global dermatology CRO market size is expected to reach USD 8,057.9 million by 2030, registering a CAGR of 6.8% over the forecast period, according to a new report by Grand View Research, Inc. Rising influx of contract research organizations (CROs) to mitigate the disease burden associated with dermatological conditions is a key driver for this market. Moreover, the rising demand for topical dermatological medications, such as anti-infective, anti-inflammatory agents, local anesthetics, emollients, and cleansers, to cure acne are major factors driving the market growth. High demand for speedy diagnosis, an increase in the prevalence of skin cancer and other skin problems, and increased awareness regarding skin diseases are major factors boosting the market growth.

An increase in cases of skin disease across the globe is expected to propel the market growth in the forecast period. Atopic dermatitis is one of the most common inflammatory skin diseases, affecting around 5-10% of individuals in the U.S. Around one in three individuals in the country with atopic dermatitis have moderate-to-severe disease. Moreover, skin cancer is the most common cancer in the U.S. According to the American Academy of Dermatology, around 1 in 5 individuals would develop skin cancer in their lifetime. In addition, it is estimated that around 9500 individuals in the country are diagnosed with skin cancer every day. The COVID-19 pandemic significantly impacted the market.

Clinical trials in numerous therapeutic fields, including dermatology, were impacted by the COVID-19 pandemic. Several clinical trials were temporarily delayed or halted, impacting the timelines and progress of research studies. This disruption is expected to affect the growth and revenue of dermatology CROs, as their services are closely tied to clinical trial activities. Furthermore, patent expiration in the dermatology industry and growing investment in R&D programs are key factors anticipated to drive market growth in the coming years. For instance, in February 2022, Recipharm acquired CDMO Arranta Bio to expand its mRNA biologics offerings in the U.S. This acquisition is expected to improve the company's capabilities in developing medications in the area of cancer, psoriasis, infectious diseases, and other diseases.

Request a free sample copy or view report summary: Dermatology CRO Market Report

Dermatology CRO Market Report Highlights

• Based on type, the clinical segment accounted for the largest revenue share of 76.10% in 2022. This is attributed to the globalization of clinical trials, technological advancements, and an increase in demand for dermatology CROs to conduct clinical trials
• Based on service type, the regulatory/medical affairs segment is expected to show a significant market share in the forecast period. Increasing demand to obtain approval for new products and differences in drug regulations globally are some of the major factors driving the segment growth
• Asia Pacific captured the largest revenue share of over 43.29% in 2022. This is due to the diversity in population, high prevalence of skin disorders, improving regulatory framework, and, the ease with which patients may be recruited and retained
• A post-covid surge in clinical trials provided a lucrative opportunity for CROs to enter the dermatology space. For instance, in January 2022, Vial started providing dermatology outsourcing services via its arm Vial Dermatology CRO. Wherein, they partnered with 35 dermatology clinics in the U.S. to provide faster clinical trials

Access Press Release@ https://www.grandviewresearch.com/press-release/global-dermatology-cro-market

Dermatology CRO Market Segmentation

Grand View Research has segmented the global dermatology CRO market based on type, service type, and region:

Dermatology CRO Type Outlook (Revenue, USD Million, 2018 - 2030)

• Drug Discovery
  • Target Validation
  • Lead Identification
  • Lead optimization
• Preclinical
• Clinical
  • Phase I
  • Phase II
  • Phase III
  • Phase IV

Dermatology CRO Service Outlook (Revenue, USD Million, 2018 - 2030)

• Project Management/Clinical Supply Management
• Data Management
• Regulatory/Medical Affairs
• Medical Writing
• Clinical Monitoring
• Quality Management/Assurance
• Bio-statistics
• Investigator Payments
• Laboratory
• Patient and Site Recruitment
• Technology
• Others

Dermatology CRO Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Iran
  • Kuwait

List of Key Players of Dermatology CRO Market

• IQVIA HOLDINGS INC.
• Covance Inc.
• Pharmaceutical Product Development, LLC (PPD)
• Parexel International Corporation
• Charles River Laboratories International, Inc.
• Icon, Plc
• Syneos Health
• Wuxi AppTec
• Bioskin
• Proinnovera

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.