The Pharmacovigilance Market report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global pharmacovigilance market based clinical trial phase, service provider, type of method, and end user. It also provides market size and forecast till 2027 for overall market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The pharmacovigilance market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 counties globally along with current trend and opportunities prevailing in the region.
Increasing cases of adverse drug reactions and increasing consumption of drugs across the globe are expected to fuel the growth of the pharmacovigilance market during the forecast period. Moreover, shift in outsourcing of various activities among pharmaceutical and life science sector is anticipated to offer significant growth opportunities in the market.
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Pharmacovigilance (PV) is defined as the science and activities relating to the detection, assessment, understanding and prevention of adverse effects or any other drug-related problem. Pharmacovigilance plays a significant role in pharmaceutical and biotechnological sectors in designing of drugs and their interactions. The pharmacovigilance involves collecting information from healthcare providers and patients to know about the hazards associated with medications.
The “Global Pharmacovigilance Market Analysis to 2027” is a specialized and in-depth study of the healthcare IT industry with a focus on the global market trend. The report aims to provide an overview of global market with detailed market segmentation by clinical trial phase, service provider, type of method, end user and geography.
The global pharmacovigilance market is segmented on the basis of clinical trial phase, service provider, type of method, and end user. Based on clinical trial phase, the market is classified as, Pre-Clinical, Phase I, Phase II, Phase III, and Phase IV. Similarly, on the basis of service type, the market is categorized as, in-house and contract outsourcing. The pharmacovigilance market is segmented based on type of method such as, spontaneous reporting, intensified ADR reporting, targeted spontaneous reporting, cohort event monitoring, and EHR mining. On the basis of end user, the market is classified as, hospitals, research organizations, and industrial.
The key players operating in the pharmacovigilance market include, Accenture, Bristol-Myers Squibb Company, Linical Accelovance, Cognizant, Covance Inc., F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc., ICON plc, Capgemini (IGATE Corporation), and Novartis AG among others.
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North America is expected to contribute to the largest share in the pharmacovigilance market in the coming years, owing to the presence of major market players in the region along with the initiatives to reduce the healthcare expenditure as well as sophisticated healthcare infrastructure. Asia Pacific is anticipated to witness significant growth in the market during the forecast period, due to rising adoption of IT in the field of healthcare top offer better services to the patients.
The report analyzes factors affecting pharmacovigilance market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the Pharmacovigilance market in these regions.
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