Global dermatology CRO market was valued at USD 4.14 Billion in 2020. It is projected to grow at a compound annual rate (CAGR of 6.9%) between 2021 and 2028. This market is driven by the demand for topical dermatological medications such as anti-infective and anti-inflammatory, local anesthetics. emollients and cleansers to cure acne. The growing awareness of skin conditions, the need for quick diagnosis, and the rise in skin cancer and other skin diseases is driving the CRO (dermatological contract research organization) market. In 2020, the COVID-19 pandemic impacted the economy and continues to impact a wide range of businesses worldwide. The pandemic had little impact on the market for dermatology CRO. Virtual clinical trials were introduced and government measures to ensure that healthcare supply chains are intact. The ongoing vaccination programs and removal of shelter-in place regulations have helped to reduce the blockage in clinical trial. The market looks brighter as a result.
Market growth is expected to be boosted by the rising incidence of skin conditions around the world. According to the American Academy of Dermatology Association (AAD), acne is the most common skin condition in the United States, with 50 million Americans suffering from it every year. One in ten people will experience atopic dermatitis at some time in their lifetime. Around 7.5 million Americans suffer from psoriasis. Rosacea, a common skin condition, affects 16 millions people in the U.S. Each day, more then 9,500 people are diagnosed with skin cancer in the U.S.
Virtual trials, the use of technology and software solutions have been highlighted by the COVID-19 pandemic. The future dermatology CRO environment will be transformed by machine learning-based platforms, Artificial Intelligence and innovative trial designs. Biopharmaceutical investments in new and innovative therapies such as and regenerative medicine and drug development services are driving R&D. Sponsors are still seeking experts and services in many therapeutic areas.
With a revenue share exceeding 75.0%, the clinical segment was the dominant market for dermatology contract research organisations in 2020. This segment is growing due to an increasing number of biologics and the need for personalized medicine and orphan drugs as well as the demand for new technologies. Technology advancements, globalization in clinical trials and the increasing need for dermatology clinical trials to be conducted by CROs are some of the factors expected to fuel this growth.
Outsourcing phase III clinical trials to dermatology CROs was a smart move for the clinical segment. They are the most costly stage of a clinical trial and have helped to increase the revenue share of the segment in 2020. Preclinical will grow at 8.5% CAGR over the forecast period. Market expansion is likely due to the increasing number of preclinical trials that involve large molecules and the need to lower R&D costs.
The largest revenue share, more than 20% in 2020, was attributed to clinical monitoring. It is expected that it will continue its dominance during the forecast period. This could be because of an increase in clinical trials and the need for monitoring those trials, which are driving up the demand for services.
For a variety reasons, dermatology clinical research was outsourced to CROs over the past decade. These include cost-effectiveness and technical expertise. Smart analytics and real-time data collection technologies are expected to increase clinical monitoring data. Real-time data collection about medication safety and toxicities allows for prompt corrections such as trial re-designs or terminations. This will help propel the segment's growth.
The market's top segment, phase III, dominated 2020 with a revenue share exceeding 50.0%. This is because phase III clinical trials are the most expensive and involve large numbers of participants. The median cost for a single-phase III clinical trial is approximately USD 19.0 million, with 59 new therapeutic medicines approved by FDA between 2015-16.
Phase III requires a greater number of patients and a longer treatment period. In 2020, the largest revenue share was held by phase II. The research can be divided into two parts. The first part involves looking at different doses and efficacy trials. The second half is about deciding on a dose.
Asia Pacific was the dominant market in 2020 with a revenue share exceeding 40.0%. This market is expected to continue growing rapidly over the next few years. The high prevalence of chronic diseases, availability of diverse populations, ease with which patients can be recruited and retained and acceptance of laws are some of the reasons for this dominance. Market expansion is also being supported by government initiatives. In February 2018, the Central Drugs Standard Control Organization issued new rules that will cut down on the time required to get approval.
The largest number of dermatology trials in North America, as well as the outsourced work in this area, has resulted in a substantial revenue share for North American CROs. This market is also growing due to the government's increasing support of R&D activities via grants and money to research institutions and corporations. In 2018, the U.S. spent USD 194.2 billion on health and medical research and development.
As large CROs undergo inorganic growth, this market is consolidating. Icon plc, for example, entered into a definitive agreement in February 2021 to acquire PRA Health Sciences, which is valued at approximately USD 12 billion. Customers will benefit from the combined business due to its increased geographical, functional, therapeutic, and therapeutic reach. In 2021, Thermo Fisher entered into a definitive agreement with PPD to purchase the company for USD 17.4 million. The acquisition will allow Thermo Fisher to significantly increase its presence in the clinical research services market, particularly in the early phases of clinical trials. Healthcare contract researchers work to expand their services and improve their offerings. Parexel, for example, increased its relationship to the Society for Clinical Research Sites in October 2019. This is the only global organization that is solely dedicated protecting the interests clinical research sites. Parexel was a Site Engagement Partner and launched several initiatives to improve the patient experience during clinical trials. The following are some of the most prominent players in global dermatology CRO markets:
IQVIA HOLDINGS, INC.
Covance Inc.
Pharmaceutical Product Development, LLC (PPD).
Parexel International Corporation
Charles River Laboratories International, Inc.
Plc, Icon
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
Up Market Research published a new report titled “Dermatology CRO Market research report which is segmented by Service (Clinical Monitoring, Regulatory/Medical Affairs), by Type (Clinical, Preclinical, Drug Discovery), By Players/Companies Wuxi AppTec, Bioskin, MEDPACE HOLDINGS INC, Charles River Laboratories International Inc, Proinnovera, Syneos Health, Parexel International Corporation, IQVIA HOLDINGS INC, Pharmaceutical Product Development LLC (PPD), PRA Health Sciences, Medidata Solutions Inc, TFS, GVK Biosciences Private Limited, CTI Clinical Trial & Consulting, Icon Plc, Pharmaron, Javara, Covance Inc, Biorasi”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Dermatology CRO Market Research Report |
By Service | Clinical Monitoring, Regulatory/Medical Affairs |
By Type | Clinical, Preclinical, Drug Discovery |
By Companies | Wuxi AppTec, Bioskin, MEDPACE HOLDINGS INC, Charles River Laboratories International Inc, Proinnovera, Syneos Health, Parexel International Corporation, IQVIA HOLDINGS INC, Pharmaceutical Product Development LLC (PPD), PRA Health Sciences, Medidata Solutions Inc, TFS, GVK Biosciences Private Limited, CTI Clinical Trial & Consulting, Icon Plc, Pharmaron, Javara, Covance Inc, Biorasi |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 227 |
Number of Tables & Figures | 159 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Service (Clinical Monitoring, Regulatory/Medical Affairs), by Type (Clinical, Preclinical, Drug Discovery).
Dermatology CRO Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Dermatology CRO Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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