by The global pharmacovigilance market size is forecasted to reach from US$ 8.46 billion in 2021 to US$ 16.23 billion by 2030 and is anticipated to grow at compounded annual growth rate (CAGR) of 3% from 2021 to 2030, as per reports by market research and consulting organization Precedence Research.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The pharmacovigilance market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). The report offers exclusive insights to help companies make informed decision to sustain growth through the assessment period.
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The medications and vaccinations have revolutionized illness prevention and treatment. Medicinal products may have side effects in addition to their advantages, some of which may be unwanted or unexpected. The pharmacovigilance is the science and practice of detecting adverse reactions to medicines and vaccines.
The rising prevalence of chronic diseases is expected to propel the market growth. The pharmacovigilance market is growing due to expanding usage of outsourcing services, increasing drug development rates, and rising drug consumption. The pharmaceutical industry’s high spending, as well as an increase in adverse drug reactions (ADRs) and prescription errors, are propelling the pharmacovigilance market growth. The non-profit organization’s growing awareness of pharmacovigilance may boost market growth.
The pharmacovigilance industry is developing due to the expiration of branded pharmaceuticals by patients and the increasing number of new drug innovations. The increased spending on oncology treatment and research, as well as ongoing need for cancer medications, are driving up demand for pharmacovigilance.
Competitive Landscape Analysis:
Some of the leading companies operating in the pharmacovigilance market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.
Major companies operating in this report are
- ICON Plc
- Pharmaceutical Product Development LLC
- Parexel International Corporation
- IQVIA
- Quanticate
- Bioclinica
- Covance Inc.
- Accenture Plc
- IBM Corporation
- Novartis
COVID-19 Impact
Pharmacovigilance outsourcing is attaining impetus in terms of revenue and development owing to progressions in the PV software and services. The presence of an information technology platform has paved an optimistic path for the global market. Moreover, the occurrence of COVID-19 has opened numerous prospects for the pharmaceutical companies in the invention of novel vaccines, which have instigated a number of clinical judgments. This has even opened doors to the PV market as it is the most prominent phase of any drug development course.
Key Findings
- Phase IV or post-marketing surveillance led the global pharmacovigilance market, and this trend is expected to persist during the forecast period. The majority of industry professionals consider the drug evaluation procedure for safety to be a top priority in the post-marketing (approval) phase. Over the next few years, the category is projected to be driven by rise in public safety concerns and more competition in the pharma market.
- In 2021, the contract outsourcing segment led the global pharmacovigilance market, in terms of type of service. Such prominence of the segment is due to pharmaceutical companies’ emphasis on boosting profitability, improving drug safety, and lowering costs of drug development. The pharmacovigilance process can be outsourced, resulting in more efficient operations and safer medicines for patients.
- The spontaneous reporting category is likely to lead the global pharmacovigilance market, with a leading market share. The most crucial step of post-marketing surveillance of medications is spontaneous adverse drug reporting, which is critical for the preservation of drug safety data.
- Due to the incorporation of Big Data analytics, artificial intelligence, and automation in pharmacovigilance services, North America held a large share of the global pharmacovigilance market in 2021. The existence of a well-established clinical research field and the requirement for effective drug monitoring regulations are expected to boost the regional pharmacovigilance market during the forecast period.
Segments Covered in the Report
By Clinical Trial Phase
- Preclinical Phase I
- Phase II
- Phase III
- Phase IV
By Service Provider
- In-house
- Contract Outsourcing
By End User
- Hospitals
- Pharmaceutical Companies
- Others
By Therapeutic Area
- Oncology
- Neurology
- Cardiology
- Respiratory Systems
- Others
By Type
- Spontaneous Reporting
- Intensified ADR Reporting
- Targeted Spontaneous Reporting
- Cohort Event Monitoring
- EHR Mining
By Process Flow
- Case Data Management
- Case Logging
- Case Data Analysis
- Medical Reviewing & Reporting
- Signal Detection
- Adverse Event Logging
- Adverse Event Analysis
- Adverse Event Review & Reporting
- Risk Management System
- Risk Evaluation System
- Risk Mitigation System
Regional Segmentation
– North America (U.S. and Canada)
– Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
– Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
– Latin America (Brazil and Rest of Latin America)
– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Why should you invest in this report?
If you are aiming to enter the global pharmacovigilance market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for pharmacovigilance are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Process Flow Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Pharmacovigilance Market
5.1. COVID-19 Landscape: Pharmacovigilance Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Pharmacovigilance Market, By Clinical Trial Phase
8.1. Pharmacovigilance Market, by Clinical Trial Phase Type, 2021-2030
8.1.1. Preclinical Phase I
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Phase II
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Phase III
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Phase IV
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Pharmacovigilance Market, By Service Provider Type
9.1. Pharmacovigilance Market, by Service Provider Type, 2021-2030
9.1.1. In-house
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Contract Outsourcing
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Pharmacovigilance Market, By End User
10.1. Pharmacovigilance Market, by End User Type, 2021-2030
10.1.1. Hospitals
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Pharmaceutical Companies
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Others
10.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Pharmacovigilance Market, By Therapeutic Area
11.1. Pharmacovigilance Market, by Therapeutic Area Type, 2021-2030
11.1.1. Oncology
11.1.1.1. Market Revenue and Forecast (2017-2030)
11.1.2. Neurology
11.1.2.1. Market Revenue and Forecast (2017-2030)
11.1.3. Cardiology
11.1.3.1. Market Revenue and Forecast (2017-2030)
11.1.4. Respiratory Systems
11.1.4.1. Market Revenue and Forecast (2017-2030)
11.1.5. Others
11.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 12. Global Pharmacovigilance Market, By Type
12.1. Pharmacovigilance Market, by Type, 2021-2030
12.1.1. Spontaneous Reporting
12.1.1.1. Market Revenue and Forecast (2017-2030)
12.1.2. Intensified ADR Reporting
12.1.2.1. Market Revenue and Forecast (2017-2030)
12.1.3. Targeted Spontaneous Reporting
12.1.3.1. Market Revenue and Forecast (2017-2030)
12.1.4. Cohort Event Monitoring
12.1.4.1. Market Revenue and Forecast (2017-2030)
12.1.5. EHR Mining
12.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 13. Global Pharmacovigilance Market, By Process Flow
13.1. Pharmacovigilance Market, by Service Provider Type, 2021-2030
13.1.1. Case Data Management
13.1.1.1. Market Revenue and Forecast (2017-2030)
13.1.2. Signal Detection
13.1.2.1. Market Revenue and Forecast (2017-2030)
13.1.3. Risk Management System
13.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 14. Global Pharmacovigilance Market, Regional Estimates and Trend Forecast
14.1. North America
14.1.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.1.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.1.3. Market Revenue and Forecast, by End User (2017-2030)
14.1.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.1.5. Market Revenue and Forecast, by Type (2017-2030)
14.1.6. Market Revenue and Forecast, by Process Flow (2017-2030)
14.1.7. U.S.
14.1.7.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.1.7.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.1.7.3. Market Revenue and Forecast, by End User (2017-2030)
14.1.7.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.1.8. Market Revenue and Forecast, by Type (2017-2030)
14.1.8.1. Market Revenue and Forecast, by Process Flow (2017-2030)
14.1.9. Rest of North America
14.1.9.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.1.9.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.1.9.3. Market Revenue and Forecast, by End User (2017-2030)
14.1.9.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.1.10. Market Revenue and Forecast, by Type (2017-2030)
14.1.11. Market Revenue and Forecast, by Process Flow (2017-2030)
14.1.11.1.
14.2. Europe
14.2.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.2.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.2.3. Market Revenue and Forecast, by End User (2017-2030)
14.2.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.2.5. Market Revenue and Forecast, by Type (2017-2030)
14.2.6. Market Revenue and Forecast, by Process Flow (2017-2030)
14.2.7.
14.2.8. UK
14.2.8.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.2.8.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.2.8.3. Market Revenue and Forecast, by End User (2017-2030)
14.2.9. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.2.10. Market Revenue and Forecast, by Type (2017-2030)
14.2.10.1. Market Revenue and Forecast, by Process Flow (2017-2030)
14.2.11. Germany
14.2.11.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.2.11.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.2.11.3. Market Revenue and Forecast, by End User (2017-2030)
14.2.12. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.2.13. Market Revenue and Forecast, by Type (2017-2030)
14.2.14. Market Revenue and Forecast, by Process Flow (2017-2030)
14.2.14.1.
14.2.15. France
14.2.15.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.2.15.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.2.15.3. Market Revenue and Forecast, by End User (2017-2030)
14.2.15.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.2.16. Market Revenue and Forecast, by Type (2017-2030)
14.2.16.1. Market Revenue and Forecast, by Process Flow (2017-2030)
14.2.17. Rest of Europe
14.2.17.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.2.17.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.2.17.3. Market Revenue and Forecast, by End User (2017-2030)
14.2.17.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.2.18. Market Revenue and Forecast, by Type (2017-2030)
14.2.18.1. Market Revenue and Forecast, by Process Flow (2017-2030)
14.3. APAC
14.3.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.3.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.3.3. Market Revenue and Forecast, by End User (2017-2030)
14.3.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.3.5. Market Revenue and Forecast, by Type (2017-2030)
14.3.6. Market Revenue and Forecast, by Process Flow (2017-2030)
14.3.7. India
14.3.7.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.3.7.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.3.7.3. Market Revenue and Forecast, by End User (2017-2030)
14.3.7.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.3.8. Market Revenue and Forecast, by Type (2017-2030)
14.3.9. Market Revenue and Forecast, by Process Flow (2017-2030)
14.3.10. China
14.3.10.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.3.10.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.3.10.3. Market Revenue and Forecast, by End User (2017-2030)
14.3.10.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.3.11. Market Revenue and Forecast, by Type (2017-2030)
14.3.11.1. Market Revenue and Forecast, by Process Flow (2017-2030)
14.3.12. Japan
14.3.12.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.3.12.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.3.12.3. Market Revenue and Forecast, by End User (2017-2030)
14.3.12.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.3.12.5. Market Revenue and Forecast, by Type (2017-2030)
14.3.12.6. Market Revenue and Forecast, by Process Flow (2017-2030)
14.3.13. Rest of APAC
14.3.13.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.3.13.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.3.13.3. Market Revenue and Forecast, by End User (2017-2030)
14.3.13.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.3.13.5. Market Revenue and Forecast, by Type (2017-2030)
14.3.13.6. Market Revenue and Forecast, by Process Flow (2017-2030)
14.4. MEA
14.4.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.4.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.4.3. Market Revenue and Forecast, by End User (2017-2030)
14.4.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.4.5. Market Revenue and Forecast, by Type (2017-2030)
14.4.6. Market Revenue and Forecast, by Process Flow (2017-2030)
14.4.7. GCC
14.4.7.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.4.7.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.4.7.3. Market Revenue and Forecast, by End User (2017-2030)
14.4.7.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.4.8. Market Revenue and Forecast, by Type (2017-2030)
14.4.9. Market Revenue and Forecast, by Process Flow (2017-2030)
14.4.10. North Africa
14.4.10.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.4.10.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.4.10.3. Market Revenue and Forecast, by End User (2017-2030)
14.4.10.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.4.11. Market Revenue and Forecast, by Type (2017-2030)
14.4.12. Market Revenue and Forecast, by Process Flow (2017-2030)
14.4.13. South Africa
14.4.13.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.4.13.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.4.13.3. Market Revenue and Forecast, by End User (2017-2030)
14.4.13.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.4.13.5. Market Revenue and Forecast, by Type (2017-2030)
14.4.13.6. Market Revenue and Forecast, by Process Flow (2017-2030)
14.4.14. Rest of MEA
14.4.14.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.4.14.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.4.14.3. Market Revenue and Forecast, by End User (2017-2030)
14.4.14.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.4.14.5. Market Revenue and Forecast, by Type (2017-2030)
14.4.14.6. Market Revenue and Forecast, by Process Flow (2017-2030)
14.5. Latin America
14.5.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.5.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.5.3. Market Revenue and Forecast, by End User (2017-2030)
14.5.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.5.5. Market Revenue and Forecast, by Type (2017-2030)
14.5.6. Market Revenue and Forecast, by Process Flow (2017-2030)
14.5.7. Brazil
14.5.7.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.5.7.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.5.7.3. Market Revenue and Forecast, by End User (2017-2030)
14.5.7.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.5.8. Market Revenue and Forecast, by Type (2017-2030)
14.5.8.1. Market Revenue and Forecast, by Process Flow (2017-2030)
14.5.9. Rest of LATAM
14.5.9.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)
14.5.9.2. Market Revenue and Forecast, by Service Provider (2017-2030)
14.5.9.3. Market Revenue and Forecast, by End User (2017-2030)
14.5.9.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)
14.5.9.5. Market Revenue and Forecast, by Type (2017-2030)
14.5.9.6. Market Revenue and Forecast, by Process Flow (2017-2030)
Chapter 15. Company Profiles
15.1. ICON Plc
15.1.1. Company Overview
15.1.2. Product Offerings
15.1.3. Financial Performance
15.1.4. Recent Initiatives
15.2. Pharmaceutical Product Development LLC
15.2.1. Company Overview
15.2.2. Product Offerings
15.2.3. Financial Performance
15.2.4. Recent Initiatives
15.3. Parexel International Corporation
15.3.1. Company Overview
15.3.2. Product Offerings
15.3.3. Financial Performance
15.3.4. Recent Initiatives
15.4. IQVIA
15.4.1. Company Overview
15.4.2. Product Offerings
15.4.3. Financial Performance
15.4.4. Recent Initiatives
15.5. Quanticate
15.5.1. Company Overview
15.5.2. Product Offerings
15.5.3. Financial Performance
15.5.4. Recent Initiatives
15.6. Bioclinica
15.6.1. Company Overview
15.6.2. Product Offerings
15.6.3. Financial Performance
15.6.4. Recent Initiatives
15.7. Covance Inc.
15.7.1. Company Overview
15.7.2. Product Offerings
15.7.3. Financial Performance
15.7.4. Recent Initiatives
15.8. Accenture Plc
15.8.1. Company Overview
15.8.2. Product Offerings
15.8.3. Financial Performance
15.8.4. Recent Initiatives
15.9. IBM Corporation
15.9.1. Company Overview
15.9.2. Product Offerings
15.9.3. Financial Performance
15.9.4. Recent Initiatives
15.10. Novartis
15.10.1. Company Overview
15.10.2. Product Offerings
15.10.3. Financial Performance
15.10.4. Recent Initiatives
Chapter 16. Research Methodology
16.1. Primary Research
16.2. Secondary Research
16.3. Assumptions
Chapter 17. Appendix
17.1. About Us
17.2. Glossary of Terms
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