Pharmacovigilance Market, By Clinical Trial Phases, By Type of Method, By Type of Service Provider, By Geography

Description

The global pharmacovigilance market is estimated to be valued at USD 7.41 Bn in 2024 and is expected to reach USD 12.80 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 7.41 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	8.10%	2031 Value Projection:	US$ 12.80 Bn

Figure. Pharmacovigilance Market Share (%), By Region 2024

The global pharmacovigilance market has been witnessing significant growth in the recent years. Pharmacovigilance is defined as the science and activities relating to the detection, assessment, understanding, prevention of adverse effects or any other drug-related problems. With the growing complexity of drug molecules and the introduction of novel therapies in the market, there is an increasing need to effectively monitor the safety of drugs post marketing. Stringent regulatory framework mandating drug safety monitoring along with increasing instances of adverse drug reactions is propelling the demand for pharmacovigilance services across the globe. Furthermore, the expanding generics market and outsourcing of clinical trials to emerging regions has further boosted the pharmacovigilance market.

Market Dynamics:

The global pharmacovigilance market is driven by the rising number of adverse drug reactions, stringent safety regulations for drug approval, increasing demand for efficacious therapies, and growing generics market. Stringent regulatory guidelines mandating post marketing surveillance is a key factor augmenting the demand for pharmacovigilance services. Furthermore, rising trend of drug recalls due to safety issues has compelled pharmaceutical companies to outsource their pharmacovigilance activities to specialized service providers. Moreover, increasing generics market in developed countries offer significant opportunities for the pharmacovigilance market players. However, budget constraints of small and midsize pharmaceutical companies and complexity of reporting drug safety data across regions pose challenges to market players.

Key Features of the Study:

This report provides in-depth analysis of the global pharmacovigilance market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global pharmacovigilance market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Accenture, Cognizant, Laboratory Corporation of America Holdings, IBM Corporation, ArisGlobal, ICON plc., Capgemini, ITClinical, FMD K&L, and IQVIA
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global pharmacovigilance market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global pharmacovigilance market

Detailed Segmentation-

By Clinical Trial Phases
- Total Knee Replacement
- Partial Knee Replacement
- Kneecap Replacement
- Revision Knee Replacement
By Type of Method
- Spontaneous Reporting
- Intensified ADR Reporting
- Targeted Reporting
- Cohort Event Monitoring
- EHR Monitoring
By Type of Service Provider
- In-House
- Contract Outsourcing
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
Company Profiles:
- Accenture
- Cognizant Technology Solutions
- Laboratory Corporation of America Holdings (LabCorp)
- IBM Corporation
- QuintilesIMS (IQVIA)
- ICON plc
- Capgemini
- ITClinical
- TAKE Solutions Ltd
- BioClinica
- PAREXEL International Corporation
- Wipro Ltd
- FMD K&L
- Linical Accelovance
- United BioSource Corporation (UBC)
- PRA Health Sciences
- ArisGlobal
- Ennov Solutions Incc.

Product Code: CMI1047

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snapshot, By Clinical Trial Phases
- Market Snapshot, By Type of Method
- Market Snapshot, By Type of Service Provider
- Market Snapshot, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Opportunities
Impact Analysis
Market Trends
Key Developments
Regulatory Scenario
Acquisitions and Partnerships Scenario
Funding and Investments
PEST Analysis
Porter's Analysis

4. Global Pharmacovigilance Market - Impact of Coronavirus (COVID-19) Pandemic

Overall Impact
Government Initiatives
COVID-19 Impact on the Market

5. Global Pharmacovigilance Market, By Clinical Trial Phases, 2019 - 2031, (USD Bn)

Overview
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Pre-clinical Studies
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Clinical Trial Phase I
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Clinical Trial Phase II
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Clinical Trial Phase III
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Post Marketing Surveillance or Phase IV
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

6. Global Pharmacovigilance Market, By Type of Method, 2019 - 2031, (USD Bn)

Overview
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Spontaneous Reporting
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Intensified ADR Reporting
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Targeted Reporting
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Cohort Event Monitoring
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
EHR Monitoring
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

7. Global Pharmacovigilance Market, By Type of Service Provider, 2019 - 2031, (USD Bn)

Overview
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
In-House
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Contract Outsourcing
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

8. Global Pharmacovigilance Market, By Region, 2019 - 2031, (USD Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019-2031
- Regional Trends
  - North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Clinical Trial Phases, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Type of Method, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Type of Service Provider, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Bn)
  - U.S.
  - Canada
Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Clinical Trial Phases, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Type of Method, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Type of Service Provider, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Bn)
  - Brazil
  - Mexico
  - Argentina
  - Rest of Latin America
Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Clinical Trial Phases, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Type of Method, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Type of Service Provider, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Bn)
  - U.K.
  - Germany
  - Italy
  - France
  - Spain
  - Russia
  - Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Clinical Trial Phases, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Type of Method, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Type of Service Provider, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Middle East
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Clinical Trial Phases, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Type of Method, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Type of Service Provider, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Bn)
  - GCC
  - Israel
  - Rest of Middle East
  - Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Clinical Trial Phases, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Type of Method, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Type of Service Provider, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country/Region, 2019 - 2031, (USD Bn)
  - North Africa
  - Central Africa
  - South Africa

9. Competitive Landscape

Company Profiles
- Accenture
  - Company Highlights
  - Product Portfolio
  - Key Highlights
  - Financial Performance
  - Market Strategies
- Cognizant Technology Solutions
  - Company Highlights
  - Product Portfolio
  - Key Highlights
  - Financial Performance
  - Market Strategies
- Laboratory Corporation of America Holdings (LabCorp)
  - Company Highlights
  - Product Portfolio
  - Key Highlights
  - Financial Performance
  - Market Strategies
- IBM Corporation
- QuintilesIMS (IQVIA)
- ICON plc
- Capgemini
- ITClinical
- TAKE Solutions Ltd
- BioClinica
- PAREXEL International Corporation
- Wipro Ltd
- FMD K&L
- Linical Accelovance
- United BioSource Corporation (UBC)
- PRA Health Sciences
- ArisGlobal
- Ennov Solutions Inc

10. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

11. References and Research Methodology

References
Research Methodology
About Us and Sales Contact