Benefit-Sharing and Bioprospecting for Cosmeceuticals

Cosmeceuticals refer to a hybrid class of goods that fell between “cosmetics and pharmaceuticals. It exhibits a pharmaceutical therapeutic benefit. Antioxidants, peptides, vitamins, and other compounds are widely used cosmeceuticals that have been scientifically demonstrated to have positive benefits on the skin. The potent benefits of cosmeceuticals documented comprising Anti-aging, Skin hydration, Skin brightening, Acne treatment, Sun protection and Personal hygiene. Since the application and dosage of cosmeceuticals are personalized or precision-oriented, the dermatologist or skin care expert's approval is mandatory for accurate result. Mass increases in the manufacture and development of cosmeceuticals are reported worldwide. The modern era emphasizes external appearance and beauty, a prominent factor that has paved the way for success, self-esteem, confidence, and societal admiration. Both the physiological and psychological factors impact the rising demand on cosmeceuticals. Apart from the end result, the product's safety is vital in the mean process. The safety fundamentally relies on the source of origin, where biodiversity and nature are brought into the scenario. Compared to harsh chemical products, even though they acquire quick results within a very short time span, herbal/natural products are generally considered safe. Numerous cosmetic products are made from natural extracts or substances derived from microbes, plants, or animals. Also, the significant positive effects on the hair and skin health are also verified scientifically. Hence biodiversity could be considered a dependable source for the isolation, extraction and development of cosmetics in a genuine, trustworthy and safe manner. The integrity and authenticity of such products are much higher than those of synthetic items. Since humans have an instinct to explore and exploit nature, stringent laws and ethical perspective are extremely important while handling such sensitive cases. Ultimately the development of cosmeceuticals enhances the global market and business; bioprospecting should be implemented to prevent biological theft, injustice to indigenous people, loss of traditional knowledge, and unethical profit of multinational company. With a forecasted value of $380.2 billion in 2019 and a compound annual growth rate (CAGR) of 5.3% from 2021 to 2027, the global cosmetics market is expected to reach $463.5 billion.