The global dermatology CRO market size is expected to be worth around US$ 11.04 billion by 2030, according to a new report by Vision Research Reports.
The global dermatology CRO market size was valued at US$ 6.17 billion in 2020 and is anticipated to grow at a CAGR of 8.9% during forecast period 2021 to 2030.
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Dermatology CRO Market (By Type: Drug Discovery, Preclinical, Clinical; By Service: 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) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
Report Coverage
| Report Scope | Details |
| Market Size | USD 11.04 billion by 2030 |
| Growth Rate | CAGR of 8.9% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Type, Service |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | IQVIA; ICON Plc; Charles River Laboratory; Pharmaceutical Product Development, LLC |
Growth Factors
The rise in demand for topical dermatological medications, such as anti-inflammatory agents, anti-infective, local anesthetics, cleansers, and emollients, to treat acne is a major factor driving the market. Furthermore, increased awareness regarding skin diseases, high demand for speedy diagnosis, and an increase in the prevalence of skin cancer and other skin problems are all driving the industry forward.
Factors such as increased investment in R&D programs, a preference for outsourcing tasks due to time and cost constraints, and patent expiration in the dermatology industry are some of the key factors expected to drive the market over the forecast period. Contract research outsourcing collaborations provide cutting-edge services, thus pharmaceutical players and government agencies prefer to delegate projects to dermatology CROs, allowing the market to develop.
By Type Analysis
The clinical segment accounted the dermatology contract research organizations market in 2020 with a revenue share of over 76.0%. The expanding number of biologics, the growing need for personalized medicines and orphan drugs, and the demand for innovative technologies are all contributing to the segment growth.
phase III clinical trials are one of the most expensive stages of a clinical trial, outsourcing them to dermatology CROs helped the clinical segment to gain the largest revenue share in 2020. The preclinical segment is expected to expand at the highest CAGR of 8.5% over the forecast period
By Service Analysis
Clinical monitoring dominated for the largest revenue share of more than 21.0% in 2020 and is expected to maintain its position during the forecast period. This could be due to an increase in the number of clinical trials and the need to monitor those trials, which is driving up demand for services.
dermatology clinical research has been outsourced to CROs for a variety of reasons, including cost-effectiveness and technical knowledge. The use of smart analytics and real-time data capture technologies in the healthcare sector is expected to improve clinical monitoring data.
By Phase Analysis
the phase III segment accounted the market with a revenue share of over 51.0% as phase III clinical studies are the costliest and involve a large number of participants. With 59 novel therapeutic medicines approved by the FDA between 2015 and 2016, the median cost of a single-phase III clinical study is roughly USD 19.0 million.
Phase III also necessitates a larger number of patients and, in many cases, a longer treatment term. The phase II segment held the second-largest revenue share in 2020. This research is split into two parts. The first step involves looking at a variety of doses as well as efficacy trials, and the second half involves deciding on a dose.
By Regional Analysis
Asia Pacific accounted the market with a revenue share of over 41.0% and is expected to grow rapidly in the years to come. This is due to the high prevalence of chronic illnesses, the availability of different populations, the ease with which patients may be recruited and retained, and the implementation of laws that meet acceptance criteria.
Due to the biggest number of trials conducted and outsourced in the area, the market for dermatology CROs in North America captured a significant revenue share in 2020. The growth of this regional market has also been fueled by the increasing government support for R&D activities through grants and money to research institutes and corporations.
Key Players
Market Segmentation
The study objectives of this report are:
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