Dermatology CRO Market Size, Share & Trends Analysis Report By Type (Preclinical, Clinical, Drug Discovery), By Service (Clinical Monitoring, Regulatory/Medical Affairs), By Region, And Segment Forecasts, 2021 - 2028

Report 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 ofclinical trialsis 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.

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 asregenerative medicine, and drug development services. Sponsors are still looking for experts and services in a variety of therapeutic areas.

Type Insights

临床部分占据了皮肤科反对tract research organizations market in 2020 with a revenue share of over 75.0%. 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. The growth is expected to be fueled by factors such as technology advancements, globalization of clinical trials, and the need for CROs to conduct dermatology clinical trials.

Because 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. The rising number of preclinical trials involving large molecules and the growing need to reduce R&D costs are likely to drive the demand for dermatology CROs, resulting in market expansion.

Service Insights

Clinical monitoring accounted for the largest revenue share of more than 20.0% 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.

Over the last decade, 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. Real-time data collection on medication safety and toxicity allows for early detection of trial flaws and prompt corrections, such as trial re-design or termination, propelling the segment growth.

Phase Insights

In 2020, the phase III segment dominated the market with a revenue share of over 50.0% 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.

Regional Insights

In 2020, Asia Pacific dominated the market with a revenue share of over 40.0% 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. Furthermore, favorable government initiatives are aiding the market expansion. For example, the Central Drugs Standard Control Organization (CDSCO) issued new rules in February 2018 that are expected to cut the time it takes to get approval down to almost 30-60 days.

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. For example, the U.S. government spent USD 194.2 billion on medical and health research and development in 2018.

Key Companies & Market Share Insights

This market is becoming consolidated as various large CROs are undergoing inorganic growth. For instance, in February 2021, Icon plc entered into a definitive agreement to acquire PRA Health Sciences for around USD 12 billion. The combined business will be beneficial for customers owing to the increased geographic, functional, and therapeutic scale. Moreover, in 2021, Thermo Fisher underwent a definitive agreement to acquire PPD for USD 17.4 billion. This acquisition will help Thermo Fisher improve its presence significantly in the clinical research services industry, especially in the early phase clinical trials business.Healthcare contract research organizationsare working to offer their services on a global scale, in addition to improving their services. For example, Parexel increased its relationship with the Society for Clinical Research Sites (SCRS) in October 2019, the first and only global organization solely dedicated to protecting the interests of clinical research sites. As a Site Engagement Partner, the business launched several key initiatives aimed at improving the patient experience in clinical trials. 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

Dermatology CRO Market Report Scope

Report Attribute	Details
Market Size value in 2021	USD 4.43 billion
Revenue forecast in 2028	USD 7.04 billion
Growth rate	CAGR of 6.9% from 2021 to 2028
Base year for estimation	2020
Historical data	2016 - 2019
Forecast period	2021 - 2028
Quantitative units	Revenue in USD million/billion and CAGR from 2021 to 2028
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Type, service, region
Regional scope	North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country scope	U.S.; Canada; U.K.; Germany; France; Italy; Spain; India; Japan; China; Australia; South Korea; Brazil; Mexico; Argentina; Colombia; Chile; South Africa; Saudi Arabia; UAE; Iran; Israel
Key companies profiled	IQVIA; ICON Plc; Charles River Laboratory; Pharmaceutical Product Development, LLC
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
革命制度党cing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global dermatology CRO market report on the basis of type, service, and region:

• 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

• 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

• Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

    • Chile

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Iran

    • Israel