Dermatology CRO Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.80 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Dermatology CRO Market Analysis
The dermatology CRO market is expected to register a CAGR of more than 7.8% during the forecast period.
The onset of the COVID-19 pandemic significantly impacted the studied market. During the initial days of the pandemic, due to the closure of drug research and manufacturing facilities, the production and research of dermatology drugs in development were hampered and adversely impacted the market's growth. However, the research increased during the pandemic phase to evaluate the effect of COVID-19 infections on patients with skin disorders. In addition, during the later phases of the pandemic, the clinical trials were conducted swiftly following various guidelines issued by regulatory bodies such as WHO, EMA, and FDA. For instance, as per a research article published in Clinics in Dermatology journal in January 2021, teledermatology remote visits were approved for many trials via privacy-compliant platforms, and several strategies were implemented to continue dermatology clinical trials, including switching to teledermatology visits, infection control measures, use of local laboratories, and community nursing. Thus, these instances created a demand for contract research organizations (CROs) engaged in dermatology services and fueled the market's growth. Hence, owing to the above-mentioned factors, the market witnessed considerable growth during the pandemic and is expected to continue its growth trend over the analysis period.
The market's growth is largely attributed to the factors such as increasing research and development (R&D) expenditure worldwide, an increase in the number of dermatology drugs in clinical and preclinical trials, and increasing incidences of skin disorders among the target population during the forecast period.
Skin diseases or conditions are an important public health concern globally. For instance, per a research study published in the Journal of the European Academy of Dermatology and Venereology (JEDV) in March 2022, skin diseases are the most common cause of consultation in general practice and impact between 30% and 70% of the population worldwide. In addition, as per the source above, nearly 3,000 acute and chronic skin problems affect people of all ages and socioeconomic backgrounds. Hence, the burden of skin diseases is creating an upsurge in demand for the availability of various drugs and medicines in the market, further leading to an increase in drug discovery activities and clinical trials. These clinical trials further create opportunities for dermatology CROs, which provide faster, better, and cheaper dermatology trial results. Therefore, expected to fuel the market's growth during the forecast period.
Moreover, strategic activities such as collaboration, partnership, acquisition, and merger by major market players are increasing. This is creating a competitive environment for dermatology CROs and is expected to fuel the growth of the market studied. For instance, in January 2022, Vial launched a dermatology CRO to accelerate faster execution and higher quality through its network of dermatology clinics. Thus, with the increasing company activities and the increasing incidence of skin disorders, the demand for drug discovery and adoption of CRO services and approaches is increasing. This is expected to garner market growth over the forecast period.
However, a lack of standardization, monitoring issues, and stringent regulatory policies are expected to hamper the market's growth.
Dermatology CRO Market Trends
Drug Discovery Segment is Anticipated to Witness Significant Growth Over the Forecast Period
Various drugs, such as biological drugs, offer several benefits, including highly effective and potent action, fewer side effects, and the potential to cure various skin diseases rather than merely treat the symptoms, significantly increasing the demand for these products. Thus, the need for drug discovery is increasing and is anticipated to grow during the forecast period.
The demand for drug discovery is increasing in dermatology due to a high number of populations suffering from various skin diseases. For instance, the high prevalence of acne among the target population is one of the major driving factors for the segment's growth. For instance, according to a research article published in Frontiers in Medicine in October 2022, acne occurs predominantly during adolescence and prepuberty. It is one of the most common skin conditions globally. As per the above source, in China, the estimated prevalence of acne varies from 8.1 to 85.1% depending on the locality and age of the studied objects. Thus, such a high burden of acne and other skin conditions creates an upsurge in the need for the availability of various drugs, increasing the drug discovery programs for the same. With an upsurge in dermatology drug discovery, the demand for CROs specialized in dermatology services is increasing. This is further expected to fuel the segment's growth.
In addition, the demand for CROs has been increasing in recent years to develop dermatology drugs and other therapeutic indications. As per an article published in the Journal of Clinical and Aesthetic Dermatology in September 2022, when working with CROs, the companies leverage benefits such as managing projects, data, and resources, as well as the accessibility of technology. In addition, during drug discovery, the early start of the study, subject recruitment, and precise and well-organized site-related documentation are all desired outcomes of working with CROs. Additionally, as per the source above, due to industry-sponsored research conducted by clinical investigators, dermatology and cosmetic medicine have grown significantly in recent years. As CROs are crucial in ensuring that clinical trials are conducted effectively, morally, and in accordance with good clinical practice, the adoption of CROs is increasing during the drug discovery of dermatological drugs. This is anticipated to fuel the segment's growth over the forecast period.
North America is Expected to Hold a Significant Share of the Market
North America is expected to hold a significant share of the market studied throughout the forecast period. Factors such as increasing R&D and increasing incidence and prevalence of skin diseases creating the need for dermatology medicines among the target population in the region are predicted to drive market growth during the forecast period.
The United States, among other countries in the region, is expected to hold a significant share of the market owing to the presence of various market players and the rising burden of skin conditions. According to the 2023 update by the American Academy of Dermatology (AAD), acne is the most common skin condition in the United States, affecting nearly 50 million Americans annually. In addition, as per the source above, nearly 7.5 million people in the United States have psoriasis, which occurs in all age groups. It is primarily seen highly in adults between 45 and 64 years old. Hence, due to the high incidence of such diseases, the demand for the development of various drugs is increasing, which is further creating demand for CROs availability in the United States to conduct various clinical and preclinical activities. Hence, fueling the growth of the overall market in the region.
Furthermore, the pharmaceutical industry in North America is concentrated, and companies are focusing more on outsourcing activities with CROs for drug development. In addition, the strategic activities of the market players present in the country are creating opportunities for dermatology CRO services. For instance, in November 2022, Equillium, Inc., a clinical-stage biotechnology company based in the United States, presented data on the first-in-class tri-specific inhibitor, targeting Il-2, IL-9, and IL-15, and highlighted Equillium's Multi-Cytokine Inhibitor EQ101 as a novel molecular compound to treat alopecia areata (a disease that happens when the immune system attacks hair follicles and causes hair loss) at the 6th Annual Dermatology Drug Development Summit. Thus, the availability of drugs in the preclinical stage is anticipated to create opportunities for preclinical and clinical services that are offered by dermatology CROs. This is further anticipated to fuel the growth of the studied market in the region over the analysis period. Thus, given the above-mentioned factors, the dermatology CRO market is anticipated to grow significantly over the forecast period in North America.
Dermatology CRO Industry Overview
The dermatology CRO market is competitive and fragmented in nature, with the presence of various well-known service providers globally. Major market players are competing against each other by expanding their range of solutions and services. There are a few companies that are currently dominating the market. The key players have been involved in various strategic alliances such as acquisitions, collaborations, and launching advanced services to secure their position in the global market. These companies include Charles River Laboratories, WuXi Apptec, Vial, ICON plc, and Altasciences Company, Inc., among others.
Dermatology CRO Market Leaders
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Charles River Laboratories
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ICON plc
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WuXi App Tec
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Altasciences Company, Inc.
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Vial
*Disclaimer: Major Players sorted in no particular order
Dermatology CRO Market News
- March 2023: LEO Pharma, a global player in medical dermatology, and ICON plc entered into a strategic partnership that will enable LEO Pharma to scale clinical trial execution that is patient-centric and cost-effective and which will support the company's overall ambition to improve the lives of dermatology patients with access to innovative clinical trials and the launch of new medicines.
- July 2022: Innovaderm, a Canada-based dermatology CRO reported that its strategic European expansion initiative reached a major milestone with the launch of two key centers of operations in Poland and Spain. Biotechnology and pharmaceutical companies can officially partner with the CRO's team of experts in Europe to manage clinical trials in psoriasis, acne, atopic dermatitis, and other dermatology indications.
Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Research and Development (R&D) Expenditure Worldwide
- 4.2.2 Increase in Number of Dermatology Drugs in Clinical Trials
- 4.2.3 Rising Incidence of Skin Disorders
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4.3 Market Restraints
- 4.3.1 Lack of Standardization and Monitoring Issue
- 4.3.2 Stringent Regulatory Policies
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Type
- 5.1.1 Drug Discovery
- 5.1.2 Preclinical
- 5.1.3 Clinical
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5.2 By Service
- 5.2.1 Project Management/Clinical Supply Management
- 5.2.2 Data Management
- 5.2.3 Regulatory/Medical Affairs
- 5.2.4 Clinical Monitoring
- 5.2.5 Quality Management/ Assurance
- 5.2.6 Laboratory Services Management
- 5.2.7 Others
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Charles River Laboratories
- 6.1.2 ICON plc
- 6.1.3 Thermo Fisher Scientific Inc (Pharmaceutical Product Development (PPD))
- 6.1.4 Labcorp Drug Development
- 6.1.5 Parexel International Corporation
- 6.1.6 Dassault Systèmes (Medidata Solutions, Inc.)
- 6.1.7 Innovaderm
- 6.1.8 Altasciences Company, Inc.
- 6.1.9 IQVIA Biotech
- 6.1.10 Symbio, LLC
- 6.1.11 Vial
- 6.1.12 Biorasi, LLC.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityDermatology CRO Industry Segmentation
As per the scope of the report, dermatology CROs support pharmaceutical or biotechnology companies to conduct outsourced research services related to the dermatology therapeutics area. The CROs are used for both drugs and medical devices. The Dermatology CRO Market is segmented by Type (Drug Discovery, Preclinical, and Clinical), Service (Project Management/Clinical Supply Management, Data Management, Regulatory/Medical Affairs, Clinical Monitoring, Quality Management/ Assurance, Laboratory Services Management, and Other Services), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Type | Drug Discovery | |
| Preclinical | ||
| Clinical | ||
| By Service | Project Management/Clinical Supply Management | |
| Data Management | ||
| Regulatory/Medical Affairs | ||
| Clinical Monitoring | ||
| Quality Management/ Assurance | ||
| Laboratory Services Management | ||
| Others | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Frequently Asked Questions
What is the current Dermatology CRO Market size?
The Dermatology CRO Market is projected to register a CAGR of 7.80% during the forecast period (2024-2029)
Who are the key players in Dermatology CRO Market?
Charles River Laboratories, ICON plc, WuXi App Tec, Altasciences Company, Inc. and Vial are the major companies operating in the Dermatology CRO Market.
Which is the fastest growing region in Dermatology CRO Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Dermatology CRO Market?
In 2024, the North America accounts for the largest market share in Dermatology CRO Market.
What years does this Dermatology CRO Market cover?
The report covers the Dermatology CRO Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Dermatology CRO Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Dermatology CRO Industry Report
Statistics for the 2024 Dermatology CRO market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Dermatology CRO analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
