Dermatology CRO Industry Overview
The global dermatology CRO market size was valued at USD 4.14 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.9% from 2021 to 2028.
The demand for topical dermatological drugs such as anti-infective, anti-inflammatory, local anesthetics, emollients, and cleansers to treat acne is a primary factor driving the market. Furthermore, the dermatological contract research organization (CRO) business is being propelled forward by the growing awareness regarding skin disorders, the high need for rapid diagnosis, and the growth in the prevalence of skin cancer and other skin ailments. The COVID-19 epidemic hurt the economy in 2020 and continues to influence a variety of businesses around the world. Because of the introduction of virtual clinical trials and government measures to maintain broken healthcare supply chains, the market for dermatology CRO was mostly unscathed by the pandemic's ramifications. Furthermore, the bottleneck of clinical trials is improving as a result of continuous vaccination programs and the removal of shelter-in-place regulations. As a result, the market appears to have a bright future.
Gather more insights about the market drivers, restrains and growth of the Global Dermatology CRO Market
The rising cases of skin disorders across the globe are anticipated to augment the market growth over the forecast period. According to the American Academy of Dermatology Association, acne is the most common skin problem in the U.S., with up to 50 million people suffering from it each year. Atopic dermatitis affects one out of every ten persons at some point in their lives. Psoriasis affects around 7.5 million people in the U.S. Rosacea is a widespread skin condition that affects 16 million people in the U.S. Every day, more than 9,500 people in the U.S. are diagnosed with skin cancer.
The COVID-19 pandemic has highlighted the importance of virtual trials and the use of technology and software solutions. In the future years, the dermatology CRO environment is expected to be transformed by the increasing usage of machine learning-based platforms, artificial intelligence, and innovative trial designs. R&D activity is being driven by biopharmaceutical and pharmaceutical investments in novel and revolutionary therapies, such as regenerative medicine, and drug development services. Sponsors are still looking for experts and services in a variety of therapeutic areas.
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Dermatology CRO Market Segmentation
Grand View Research has segmented the global dermatology CRO market on the basis of type, service, and region:
Dermatology CRO Type Outlook (Revenue, USD Million, 2016 - 2028)
- 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, 2016 - 2028)
- 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, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- February 2021: Icon plc entered into a definitive agreement to acquire PRA Health Sciences for around USD 12 billion.
- October 2019: Parexel increased its relationship with the Society for Clinical Research Sites (SCRS), The first and only global organization solely dedicated to protecting the interests of clinical research sites.
Key Companies profiled:
Some prominent players in the global dermatology CRO market include
- IQVIA HOLDINGS INC.
- Covance Inc.
- Pharmaceutical Product Development, LLC (PPD)
- Parexel International Corporation
- Charles River Laboratories International, Inc.
- Icon, Plc
- Medidata Solutions, Inc.
- Syneos Health
- Pharmaron
- GVK Biosciences Private Limited
- Wuxi AppTec
- MEDPACE HOLDINGS, INC.
- PRA Health Sciences
- CTI Clinical Trial & Consulting
- Bioskin
- Proinnovera
- Biorasi
- Javara
- TFS
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