Pharma & cosmetics include the pharmaceutical and cosmetics industry and the range of products included in it. The pharma deals with the drug research, production, and commercial of pharmaceutical products. The cosmetics consist of products developed for cleaning, curing, and managing skincare, haircare, and oral care, it also includes beauty preparations and grooming aids. The pharma & cosmetics involves personal care and healthcare products ranges.This growth is primarily driven by Rising Prevalence of the Skin Related Issues in People, Need for Curing the Various Type of Diseases and Health-related Problems and Demand for Cosmetics in Haircare and Skincare.
Globally, a noticeable market trend is evident Consumption of Cosmetics Among Women is High
. Major Players, such as Merck & Co., Inc. (United States), Pfizer Inc. (United States), Sanofi S.A. (France), Johnson & Johnson (United States), F. Hoffmann-La Roche AG (Switzerland), Novartis International AG (Switzerland), L'Oréal S.A. (France), Estée Lauder Companies Inc. (United States), Shiseido Company (Japan), Eli Lilly and Company (United States), GlaxoSmithKline plc (United Kingdom), AbbVie (United States) and Beiersdorf AG (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
27th June 2019, AbbVie to acquire Allergan in a multibillion-dollar merger. The new company will retain AbbVie’s US headquarters, bringing Allergan back to its home country; there are now no tax advantages in being headquartered in Ireland. The acquisition of Allergan represents a rare and unique opportunity for AbbVie to accelerate the progress of the growth platform by adding highly valuable assets with leadership positions across the growth segments
"Under the FD&C Act, cosmetic products and ingredients, with the exception of color additives, do not require FDA approval before they go on the market. Drugs, however, must generally either receive premarket approval by FDA through the New Drug Application (NDA) process or conform to a "monograph" for a particular drug category, as established by FDA's Over-the-Counter (OTC) Drug Review. These monographs specify conditions whereby OTC drug ingredients are generally recognized as safe and effective, and not misbranded."
- Rising Prevalence of the Skin Related Issues in People
- Need for Curing the Various Type of Diseases and Health-related Problems
- Demand for Cosmetics in Haircare and Skincare
- Consumption of Cosmetics Among Women is High
- Advancement in the Packaging of Pharma & Cosmetics
- Side Affects and Allergy-Related Risks Involved in Pharma & Cosmetics
- High Cost Involved in Cosmetics Products
Surging Investment in the Research and Development in Pharma & Cosmetics and Rising Spendings of People on Pharma & Cosmetics
Stringent Regulatory Guidelines and Standards on the Packaging Labeling of Pharma & Cosmetics
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