Pharmacovigilance Market

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Pharmacovigilance Market 2020-2027
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2027
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Pharmacovigilance Market 2020-2027
 Pharmacovigilance Market Size, Share , Trends ,
Forecast 2020-2027
Market Highlights According to MRFR, Pharmacovigil
ance Market analysis, it is expected to register
a CAGR of 14.1 during the forecast period
of 2019 to 2025 and accounts for USD 4321.86
Million 2018. Pharmacovigilance supports safe and
appropriate use of drugs by identifying risk
factors for the development of adverse drug
reactions (ADR), promoting the detection of
previously unknown ADR and their interactions
with known ADR. The market is dominated by
numerous established players. The key players are
involved in product launches and strategic
collaborations to strengthen their market
positions. For instance, on May 16, 2019,
Accenture launched INTENT to improve the
continuity and flow of data across life sciences
enterprises, supporting the delivery of
ground-breaking treatments for patients.
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Pharmacovigilance Market 2020-2027
Segmentation The Global Pharmacovigilance Market
has been segmented based on the clinical trial
phase, service provider, type, and end-user. The
market, based on the clinical trial phase, has
been divided into phase IV, phase III, phase II,
phase I, and pre-clinical. Phase IV segment
dominated the pharmacovigilance market as adverse
drug reactions are majorly detected in this
phase. Whereas, phase III is expected to witness
the fastest growth. The global pharmacovigilance
market has been segmented, on the basis of
service provider, into in-house and contract
outsourcing. Contract outsourcing dominated the
global pharmacovigilance market and expected to
witness the fastest growth. Contract
manufacturing serves multiple customers and thus
can acquire raw materials at a reduced cost,
benefiting from the economies of scale.  
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Pharmacovigilance Market 2020-2027
The market, based on type, has been divided into
spontaneous reporting, cohort event monitoring,
intensified ADR reporting, targeted spontaneous
reporting, and EHR mining. The spontaneous
reporting held largest market share in 2018.
Spontaneous reporting is a passive approach to
pharmacovigilance as it entirely relies on the
motivation of individuals to report suspected
ADRs to a local or national pharmacovigilance
center. In terms of end-user, the global
pharmacovigilance market has been segmented into
hospitals, research organizations, pharmaceutical
companies, and others. Hospitals take up the
largest share due to an increase in the number of
hospital admissions due to ADRs. Browse full
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Pharmacovigilance Market 2020-2027
.
Key Players Some of the key players in the
Global Pharmacovigilance Market are Accenture
(Ireland), ArisGlobal (US), BioClinica (US),
Capgemini (France), Conquest Group BV
(Netherlands), Cognizant (US), IBM Corporation
(US), ICON PLC (Ireland), IME Global (US), IT
Clinical (Portugal), Laboratory Corporation of
America Holdings (US), PAREXEL International
Corporation (US), TAKE Solutions Ltd (India),
United BioSource Corporation (US), and Wipro
Ltd (India).
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Pharmacovigilance Market 2020-2027
Regional Analysis The market has been divided, by
region, into the Americas, Europe, Asia-Pacific,
and the Middle East Africa. The Americas is
expected to be the largest market owing to the
high spending by the pharmaceutical industry. The
pharmacovigilance market in the Americas has
further been branched into North America and
Latin America, with the North American market
divided into the US and Canada. The European
Pharmacovigilance market has been categorized as
Western Europe and Eastern Europe. The Western
European market has further been classified as
Germany, France, the UK, Italy, Spain, and the
rest of Western Europe. The Pharmacovigilance
market in Asia-Pacific has been segmented into
Japan, China, India, South Korea, Australia, and
the rest of Asia-Pacific. Due to the increasing
prevalence of chronic conditions and rising cases
of ADRs and medication errors, the market in
Asia-Pacific is expected to be the
fastest-growing. The pharmacovigilance market in
the Middle East Africa has been divided into
the Middle East and Africa.
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