The growing demand for topical dermatological drugs primarily drives the dermatology CRO market. These include anti-infectives, emollients, and cleansers used to treat acne. Furthermore, the increased incidence of skin diseases is expected to boost the market further.
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Clinical dermatology CRO
The growing demand for orphan drugs, regenerative medicines, and biologics primarily drives the clinical dermatology CRO market. However, the market also benefits from government efforts to streamline healthcare supply chains. In addition, the latest changes in the regulatory environment, including the removal of shelter-in-place regulations, are anticipated to improve the efficiency of clinical trials.
The market for dermatology CROs is predicted to grow at the highest rate, with a CAGR of over 8.5% between 2018 and 2022. Revenues in North America and the United States are expected to increase the fastest. As a result, the market for dermatology CROs is estimated to reach US$ 4.3 billion by 2032.
The dermatology CRO market is split geographically into Asia Pacific, North America, Europe, the Middle East & Africa, and Latin America. The Asia Pacific region is expected to hold a large share of the overall market in 2021, owing to the high prevalence of chronic diseases and different populations. Other factors contributing to the region’s growth include the availability of favorable government initiatives and the ease of recruitment of patients.
CROs have played a pivotal role in the drug development process. Their expertise in dermatology research will help the pharmaceutical industry develop new drugs and improve existing treatments. Next-generation CROs will partner with dermatology researchers, leveraging their expertise, track record in the launch of new drugs, and extensive experience communicating with regulatory agencies.
Decentralized model in dermatology studies
The growth of dermatology CROs is fueled by increasing government support for research and development. In 2018, the U.S. government spent USD 194.2 billion on medical research. Many dermatology CROs also offer free report customization, such as the ability to change the country or region of a study.
Traditionally, dermatology clinical trials require patients to travel to the investigator site to participate.
The growing need for personalized medicines, orphan drugs, and new technologies has fueled the growth of dermatology CROs. In addition, technological advancements, the increasing demand for more research participants, and the globalization of clinical trials have fueled this growth in the CRO market. This trend is expected to continue, driven by technological advances.
While dermatology conditions are not life-threatening, they affect patients’ quality of life. Because of this, dermatology CROs must consider how to minimize the burden on patients. They must also leverage new technologies and partner with dermatology sites that serve dermatology patients.
Preclinical trials involving topical dermatological drugs
There are several global and regional players in the dermatology CRO market. These companies compete on various factors, including quality, innovation, and brand reputation. They also focus on updating their product lines and adopting new business strategies.
The market for dermatological CROs is overgrowing due to the growing number of research studies. As a result, pharmaceutical companies are increasingly using these organizations to conduct trials for new drugs and products in the field of dermatology. In addition, growing awareness about skin diseases is also driving market growth. One of the leading companies in this market specializes in preclinical trials involving topical dermatological products. The company has decades of experience moving products to regulatory approval. Moreover, it has centers of excellence in the USA and the U.K. Its team of dermatologists is an established leader in the field.
The industry has transitioned from reliance on high-quality clinical trials to more patient-centered studies. Putting patients’ needs at the center of the process can speed up the journey from discovery to market adoption. In addition, a dermatology CRO can make clinical trials safer and less burdensome by ensuring that the right patient population is included in the research.
Another trend in dermatology CROs is the use of new technologies. For example, Digital technologies have helped dermatologists reach patients in remote areas.