The quest for successful cosmetic products has led to evolution of the clinical trials process. Clinical trials offer enormous opportunities for businesses to bring safe, efficient and improved products to the market. Yet, understanding the nuances and complexities of the clinical trials system can be quite overwhelming for the uninitiated. Here, we shed light on the duration taken by cosmetic clinical trials and the factors influencing it.
To start, the length of a cosmetic clinical trial entirely depends on the complexity of the product to be tested. Naturally, a compound with complex characteristics requires longer tests and would consequently require a longer trial period. Moreover, research structures for cosmetic clinical trials are tailored depending on the classification set by the Food and Drugs Administration (FDA). On an average, Phase One takes around two years for completion while, Phase Two and Three trials would take a minimum of 5-7 years.
Apart from complexities, there are several other factors influencing the duration of such trials. Regulatory Advisory Group (RAG) can introduce delays if it decides to take the review of a product undergoing testing beyond the stipulated timeline. Also, the Environmental Impacts posed by a product being tested, can, in certain cases, slow down the whole process. Even logistics can delay the testing process; delays in making the shipping arrangements can affect the timeline of clinical trials.
Businesses should be mindful that a monitory loss can be involved in case of delays in cosmetic clinical trials. Cosmetic Clinical trials are expensive affairs that require utmost precision and accuracy. Delays in orders, often results in mounting costs due to the prolonged schedule. Businesses should be aware of the cost difference when they are making changes to the trial structure or scale.
For entrepreneurs and investors, it is advisable to conduct due diligence before investing in products under testing. A cursory research about the timelines and expenditures of competing products available in the market can lend an insight into the timeline required to finish testing of a particular product. Furthermore, understanding the nature of the properties to be tested would also help to roughly set the timeline.
Businesses today are expected to deliver faster results without compromising on quality. Companies, aiming to capitalize on the consumer cosmetics market, should strive to adapt to the ever-changing environment of the market. It is also important to be prepared for unexpected circumstances so as to reduce the risk of financial losses due to unforeseen delays.
Strong management practices can help reduce the timeline of cosmetic clinical trials. Developing a good understanding of timelines and setting measurable goals can help reduce the timeline of the whole process. Companies should strive to keep up with the market supply and demand to strengthen their competitive advantage. Proactive measures should also be taken to be prepared in case of unexpected delays and enable closer monitoring of the process.
