Pharmacovigilance Market to Flourish with an Impressive CAGR during 2020-2027

Pharmacovigilance Market

The global pharmacovigilance market is expected to be worth USD 12.48 Billion by 2027, according to a current analysis by Emergen Research. The market for pharmacovigilance is experiencing rapid growth attributed to a rise in application for spontaneous reporting, electronic health record (HER) mining, cohort event monitoring, and intensified adverse drug reaction (ADR) reporting, among others.

The pharmacovigilance primarily emphasizes on on ADR (adverse drug reactions) and cases of drug toxicity. According to the statistic released by WHO, about 5.0% of hospitalized patients in the developed nations are admitted into the hospital due to adverse drug reactions, and 6.0% to 10% of in-patients are anticipated to observe a severe adverse reaction for the duration of hospitalization.

A rise in demand for outsourcing services by players in the healthcare industry is anticipated to boost the forecast period’s pharmacovigilance market growth. A spiraling inclination to outsource eliminates the issues pertaining to overhead costs and the pharmacovigilance resources’ deployment.

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The report is a comprehensive research study of the global Pharmacovigilance market inclusive of the latest trends, growth factors, developments, opportunities, and competitive landscape. The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report is formulated with data gathered from primary and secondary research examined and validated by industry experts. The report provides an overview of the market leaders, segmentation by type, application, and region, and technological advancements.

The report further explores the key business players along with their in-depth profiling, product catalog, and strategic business decisions. The key players studied in the report are ArisGlobal, Accenture, Cognizant, Capgemini, IBM Corporation, IQVIA, BoClinica Inc., Laboratory Corporation of America Holdings, Linical Accelovance, and ITClinical, among others.

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Emergen Research has segmented the global pharmacovigilance on the basis of type, service provider, clinical trial phase, end-users, and region:

Type Outlook (Revenue, USD Million; 2017-2027)

Spontaneous Reporting

Intensified Adverse Drug Reaction (ADR) Reporting

Targeted Spontaneous Reporting

Cohort Event Monitoring

Electronic Health Record (HER) Mining

Service Provider Outlook (Revenue, USD Million; 2017-2027)

In-House

Contract Outsourcing

Clinical Trial Phase Outlook (Revenue, USD Million; 2017-2027)

Pre-Clinical

Phase I

Phase II

Phase III

Phase IV

End-Users Outlook (Revenue, USD Million; 2017-2027)

Hospitals

Research Organizations

Others

Key Findings From the Report:

In December 2019, UCB and Accenture made an announcement about signing of a partnership agreement to build a safety solution on INTIENT™ pharmacovigilance, by Accenture, to accelerate patient safety case reports’ processing. The agreement is intended to help UCB in discovering the influence of existing treatments on patient’s safety and therefore managing the novel drugs’ risk in a better way.

Spontaneous reporting is a crucial type in pharmacovigilance by providing information from real clinical settings in the course of a drug’s life. Physicians and many other healthcare specialists contribute immensely to improving public health by supposed adverse drug reactions’ reporting.

Several firms support in-house reporting management to healthcare authorities, as in-house reporting is possibly the major contact entity for any kind of in and out deliberation.

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Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.

Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Highlights of Table of Contents (TOC):

Overview of Global Pharmacovigilance Market

Competitive analysis of the Pharmacovigilance market

Regional analysis of Global Pharmacovigilance market production and revenue

Regional analysis of Global Pharmacovigilance market supply, consumption, and export & import

Type-based market analysis of global Pharmacovigilance production, revenue, and price trends

Application-based analysis of the global Pharmacovigilance market

Manufacturer profiles, manufacturing cost, and upstream and downstream analysis of global Pharmacovigilance market

Global Pharmacovigilance market forecast (2020-2027)

Conclusion of the research report

Appendix

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