The global demand for Pharmacovigilance Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2019 with a CAGR of XX% under the study period of 2020 - 2026.
Pharmacovigilance is a science related to the detection, collection, assessment, understanding, monitoring, and prevention of adverse effects or any other drug-related problem with the pharmaceutical products. An adverse drug reaction (ADR) is an adverse or harmful reaction of medicines that occurred during its clinical use. The adverse reaction may be of various types including drug toxicity. Pharmacovigilance deals with understanding and identifying the harmful effects of pharmaceutical products and aids in reducing the risk to the patients. Pharmacovigilance is an unavoidable part of drug discovery and development procedures. With the growing consumption of medicines, the need for the proper pharmacovigilance is also accelerated.
The prime forces that are driving the global pharmacovigilance market include growing drug consumption, rapidly advancing drug discovery and development, and rising incidences of adverse drug reactions & drug toxicity. Furthermore, factors such as a growing preference for personalized medicine and a rising trend for outsourcing pharmacovigilance services are expected to foster the global market. The advancement in information systems and ADR databases is also supporting the growth of the pharmacovigilance market. COVID-19 pandemic is anticipated to stimulate the market more energetically, during the forecast period, as the global pharmaceutical manufacturers are working strenuously to discover the drug against the disease. However, supply chain disruption may agitate the global market for some period.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of pharmacovigilance.
The entire pharmacovigilance market has been sub-categorized into type, deployment and end user. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By End User
- Pharmaceutical Companies
This section covers regional segmentation which accentuates on current and future demand for pharmacovigilance market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Pharmacovigilance Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the pharmacovigilance market include Quanticate (U.S), Pharmaceutical Product Development, LLC (U. S), Cognizant (U.S), Parexel International Corporation (U.S), IQVIA (U.S), ICON plc (Ireland), Bioclinica (U.S), Accenture plc (Ireland), Covance Inc. (U.S). This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.