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U.S Will Accounted For Over 33% of Global Dermatology CRO Demand in 2032 with A CAGR Of 9.4%

October 25th, 2022 FACT.MR Releases

The overall sales in the dermatology CRO market are expected to reach US$ 4.3 Bn by 2032, growing at a CAGR of 9.1% from 2022 to 2032.

Use of topical dermatological medications such as cleansers, anti-inflammatory, local anesthetics, anti-infective, and emollients to treat acne is increasing. According to the American Academy of Dermatology Association, there are nearly 50 million people suffering from acne each year in the U.S. This is anticipated to create high prospects for sales within the dermatology CRO market.

Pharmaceutical companies are improving their research services due to the growing prevalence of skin ailments such as cancer, eczema, psoriasis, and other diseases. Hence, the demand for dermatology CRO is expected to augment in the coming years.

To Remain ‘Ahead’ Of Your Competitors, Request for a Sample – https://www.factmr.com/connectus/sample?flag=S&rep_id=7178

The rising integration of artificial intelligence (AI), machine learning, and advanced trial programs is observed as research and development initiatives gain momentum in the dermatology CRO.

Likewise, the surging focus on virtual clinical trials, adoption of various advanced software or technological solutions, and measures undertaken by governments to streamline supply-chain within healthcare will drive the dermatology CRO market.

Rising demand for biologics, regenerative medicines, and orphan drugs to treat the skin allergies and diseases will further augment the sales in the market.

Improvements in the regulatory environment are projected to help increase the adoption of dermatology CRO services in the near future. For instance, the Central Drugs Standard Control Organization (CDSCO) published new guidelines in February 2018 that are focused on reducing the time taken for approval from almost 30 to 60 days. Such developments will steer growth in the forthcoming years.

Key Takeaways:

  • Based on type, the clinical segment is expected to exhibit growth at a CAGR of 10% between 2022 and 2032.
  • North America is expected to exhibit10.4% CAGR due to increasing awareness about skin problems in the region.
  • In terms of service, the clinical monitoring segment is estimated to lead the market owing to growing focus on dermatological treatments and medications.
  • Dermatology CRO market size is anticipated to grow 2.4X from 2022 to 2032, accounting nearly US$ 4.3 Bn in 2032.

Growth Drivers:

  • Growing incidence of skin cancer and other skin ailments are driving the need for dermatological medications. This is likely to bolster the growth in the market.
  • Surging demand for vaccines and the exclusion of unfavorable regulations are projected to boost the growth in the market.

Restraints:

  • The inability of small and medium enterprises or new players to invest in and conduct outsourced research services is likely to restrain the growth in the market.

For Critical Insights on This Market, Request For Methodology Here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=7178 

Competitive Landscape:

Leading manufacturers operating in the global dermatology CRO market are concentrating on advancing their production capabilities to expand their consumer base in the coming years. Furthermore, they are updating their product line by making technological advancements.

Apart from this, organizations are adopting new business strategies such collaborations, joint ventures, acquisitions, and others to extend their global presence. 

For instance,

  • February 2021: Icon plc. entered into a definitive agreement with PRA Health Sciences for the purchase of the latter for nearly US$ 12 Bn. This merger will aid customers due to various advantages and developments offered in geographic, functional, and therapeutic scale.
  • October 2019: For safeguarding the welfare of clinical research sites, Parexel developed closer links with the Society for Clinical Research Sites (SCRS). This stronger relationship is aiding the company execute significant initiatives as a Site Engagement Partner to improve the experience of patient in clinical trials.

Key Companies Profiled by Fact.MR

  • IQVIA HOLDINGS INC.
  • Pharmaceutical Product Development, LLC (PPD)
  • Syneos Health
  • Parexel International Corporation
  • Covance Inc.
  • CTI Clinical Trial & Consulting
  • Charles River Laboratories International, Inc.
  • Icon, Plc
  • PRA Health Sciences
  • Medidata Solutions, Inc.
  • Pharmaron
  • TFS
  • MEDPACE HOLDINGS, INC.
  • Wuxi AppTec
  • Bioskin
  • Proinnovera
  • GVK Biosciences Private Limited
  • Biorasi
  • Javara

Get Full Access of this Report through our PayPal Payment Option: https://www.factmr.com/checkout/7178

Market Segments Covered in Dermatology CRO Industry Analysis

  • By Type :
    • Drug Discovery
      • Target Validation
      • Lead Identification
      • Lead Optimization
    • Clinical
      • Phase I
      • Phase II
      • Phase III
      • Phase IV
    • Preclinical
  • 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
    • Other Services
  • By Region :
    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

Explore Fact.MR’s Coverage on the Healthcare Domain:

Drug Eluting Balloon Catheter Market: The global market for drug eluting balloon catheters is anticipated to progress at an impressive CAGR of 18% over the next ten years. This analysis has been performed by skilled analysts at Fact.MR, a market research and competitive intelligence provider, also reveals that demand for drug eluting balloon catheters comprises 20% share in the overall balloon catheters market at present. 

Drug Discovery Services Market: The drug discovery services market is forecasted to reach US$ 50 Billion by 2032, up from US$ 19 Billion in 2022, at a CAGR of 10.1%. A Y-o-Y growth rate of nearly 12% is expected for the market in 2022. As of 2021, the market was valued at US$ 17 Billion. 

Drug-Loaded Oral Thin Films Market: The oral route for drug administration takes up more than 50% of the available drug in the market. Drug-loaded oral thin films have composed drug quantity that is administered via mouth. The composition of drug-loaded oral thin films not only require API but need supporting biocompatible ingredients such as strip forming polymers, plasticizers, sweetening agents and saliva stimulating agents.

Drug Delivery Systems Market: The worldwide drug delivery systems market was worth around US$ 40 Billion in 2022 and is expected to grow at a CAGR of more than 7.8% from 2022 to 2032, reaching roughly US$ 80 Billion by 2032. Demand for self-administration and home health care devices is expected to drive growth in the worldwide drug delivery systems market from 2022 to 2032.

About Us:
Market research and consulting agency with a difference! That is why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we will be an able research partner.

Contact:
Mahendra Singh
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
Email: sales@factmr.com
Tel: +1 (628) 251-158

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