Global Pharmacovigilance Market Size, Forecasts, And Opportunities – Includes Pharmacovigilance Market Share
Learn about the global pharmacovigilance market through The Business Research Company, which provides information on pharmacovigilance market size, pharmacovigilance market drivers and restraints, pharmacovigilance market players, the COVID-19 impact on the pharmacovigilance market, and more.
The global pharmacovigilance market is expected to grow from $5.71 billion in 2021 to $6.64 billion in 2022 at a compound annual growth rate (CAGR) of 16.2%. The global pharmacovigilance market is expected to reach $10.57 billion in 2026 at a CAGR of 12.3%.
The growing incidences of adverse drug reactions are expected to propel the growth of the pharmacovigilance market going forward.
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The pharmacovigilance market consists of sales of pharmacovigilance services by entities (organizations, sole traders, and partnerships) that collect, assess, and distribute drug safety and efficiency data. Pharmacovigilance is the science and practice of monitoring approved pharmaceuticals and experimental products prior to their approval for use in order to discover, evaluate, assess, and avoid adverse drug and vaccination effects and problems.
Global Pharmacovigilance Market Segments Include:
By Type: Spontaneous Reporting, Intensified ADR Reporting, Targeted Spontaneous Reporting, Cohort Event Monitoring, EHR Mining
By Service Provider: In-House, Contract Outsourcing
By Process Flow: Case Data Management, Signal Detection, Risk Management System
By Clinical Trial Phases: Preclinical, Phase I, Phase II, Phase III, Phase IV
By End User: Hospitals, Pharmaceutical Companies, Other End Users
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the pharmacovigilance market in 2021.
Technological advancements have emerged as a key trend gaining popularity in the pharmacovigilance market. Many companies operating in the pharmacovigilance sector are adopting advanced technological solutions such as Artificial intelligence (AI) to reduce cycle time, enriched quality and accuracy, scalable and futuristic solutions, improved productivity, and better compliance.
Major Market Players: Accenture, Cognizant, Labcorp Drug Development, IQVIA, IQVIA, Parexel International Corporation, BioClinica Inc., Clinquest Inc., ITClinical, TAKE Solutions Limited, United BioSource LLC, Wipro Limited, Bristol-Myers Squibb Company, Linical Americas, iMEDGlobal, Boehringer Ingelheim International GmbH, Novartis AG, Ecron Acunova Limited, and Sanofi.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Pharmacovigilance Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides pharmacovigilance market overviews, analyzes and forecasts market size, share, pharmacovigilance market players, pharmacovigilance market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s pharmacovigilance market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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