PUBLISHER: Value Market Research | PRODUCT CODE: 1547860
PUBLISHER: Value Market Research | PRODUCT CODE: 1547860
The global demand for Pharmacovigilance Market is presumed to reach the market size of nearly USD 19.3 Billion by 2032 from USD 8.83 Billion in 2023 with a CAGR of 9.08% under the study period 2024-2032.
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 research 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 an inclusive assessment of each segment in the global market of Pharmacovigilance. The growth and trends of Pharmacovigilance industry provide a holistic approach to this study.
This section of the Pharmacovigilance market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Pharmacovigilance market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
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 Accenture Plc, Bristol-Myers Squibb, Clinquest Group B.V., Cognizant, Labcorp Drug Development, F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, ICON Plc, IGATE Corporation, IMEDGlobal Corporation, Syneos Health, Novartis AG, Parexel International Corporation, Pfizer Inc., Pharmaceutical Product Development LLC. (PPD), IQVIA, Sanofi,. This section consists of 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.
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