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Pharmacovigilance Market – Analysis, Dynamic Business, Growth Rate, Development, Trends and Forecast 2017-2025

Global Pharmacovigilance Market: Snapshot

Pharmacovigilance (PV) is a process refereeing to the detection, collection, prevention, and monitoring of negative effects that may occur because of the use of pharmaceutical products and other drugs. PV services cater to a wide range of drug related activities such as discovery of a drug to its commercialization. It also helps with the utilization of tools and software that reviews, classifies data on drugs and pharmaceutical products. There has been a soaring demand for pharmacovigilance services due factors such as rising drug consumption, growing prevalence of chronic diseases, respiratory disorders, and cancer symptoms, among others. In addition to this, a large number of adverse drug reactions (ADRs) has added a substantial burden on healthcare sector leading to the increased demand for pharmacovigilance.

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The global pharmacovigilance market is expanding at a swiftly. Many leading pharmaceutical and IT companies are strategically collaborating and actively promoting pharmacovigilance software to bolster their market contribution. There are extensive post-market controlling mechanisms set up by multiple government supervisory agencies that concentrates on safety and efficiency of the various pharmaceutical products after they are pitched in the market. The governments have also established centers to enhance the pharmacovigilance services. For instance, Indian Pharmacopoeia Commission (IPC) has aimed to assign around 40 pharmacovigilance officials across the country to coordinate with various ADR centers and strengthen reporting and monitoring of ADR activities. Increased mortality rate because of ADRs and rising awareness among patients about the safety and efficiency of the drugs are expected to be the significant driving factors for the growth of the global pharmacovigilance market.

Global Pharmacovigilance Market: Overview 

Pharmacovigilance (PV) is a scientific process pertaining to the collection, detection, monitoring, and prevention of adverse effects that may arise due to use of drugs and pharmaceutical products.

Pharmacovigilance services cater to drug development activities ranging from its discovery to commercialization and consist of tools and software that helps in reviewing, classifying, creating, and other data. PV occupies a critical role in drug regulation system that helps in comprehensive monitoring and evaluation of adverse drug reactions (ADRs). Increasing instances of ADR cause an extension of patient morbidity, increase hospitalization fees, and thus pose a significant burden on any responsive healthcare system. These factors stimulate the demand for pharmacovigilance services worldwide and contribute to the expansion of the market. Several pharmaceutical companies prefer collaborating with BPOs and contract research organizations (CROs) for pharmacovigilance services to bring down the cost and augment the operational efficiency.

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Global Pharmacovigilance Market: Trends

The global pharmacovigilance market is primarily driven by the rising incidence of ADR, soaring patient awareness regarding safety of drugs, and stringent regulations by various agencies related to drug approvals. Strict guidelines related to clinical trials of new drug therapies and mandatory requirements to keep electronic medical records (EMR) have propelled the growth of the PV market. Initiatives taken by renowned regulatory agencies, such as the FDA and European Medicines Agency (EMA), and global organizations such as the WHO have mounted pressures on several biotechnology and pharmaceutical companies to manufacture safe drugs. This is expected to stimulate the demand for pharmacovigilance.

Furthermore, the rising trend of outsourcing of PV services to BPOs and CROs has resulted in effective drug regulation system. These outsourcing entities offer pharmacovigilance services that have high regulatory compliance, enhanced productivity, and better strategic outcomes, thus boosting the global PV market. However, concerns of patient data safety, rise in web-based sale of drugs, and lack of expertise are the key factors that may impede the growth of the market to some extent. Nevertheless, the rising number of clinical trials, particularly phase 3 and phase 4 clinical trial will unlock abundant opportunities for the market players.

Global Pharmacovigilance Market: Market Potential 

The global pharmacovigilance is growing at a rapid pace. Intense post-market monitoring mechanisms set up by various government regulatory agencies increasingly focus on safety and efficacy of pharmaceutical products after they are launched in the market. This has led to a flurry of PV activities and procedures. Various coordination initiatives between national agencies, healthcare providers, and regional pharmacovigilance centers in several countries such as France, China, India, Romania, and Turkey have put the onus on pharmaceutical companies to collect and assess information relating to adverse drug effects. Subsequently, effective measures can be taken to prevent and mitigate the risks.

Furthermore, governments in various countries have created centers to expand PV services. For instance, Indian Pharmacopoeia Commission (IPC) has intended to appoint as many as 40 district product safety pharmacovigilance officials in the country; these officials will coordinate with different ADR centers to strengthen the monitoring and reporting of ADR activities. These initiatives are expected to provide a robust boost to the market across the region.

Global Pharmacovigilance Market: Regional Outlook 

The pharmacovigilance market in the U.S. held a prominent share in 2016 and the regional market is expected to rise at healthy CAGR during the forecast period. The growth is attributed to the rising mortality rates due to ADR and soaring awareness of patients on safety and efficacy of drugs. Asia Pacific is expected to expand at positive CAGR in the next five years. Growth witnessed in the region will be driven by stringent health care regulations, vast geriatric base, intense government initiatives to set up PV centers, and rising number of clinical trials conducted. 

Global Pharmacovigilance Market: Competitive Landscape 

Major technology and IT companies are actively launching pharmacovigilance software to strengthen their market shares. Pharmaceutical and life sciences companies are forming strategic collaborations with key contract research organizations (CRO) to expand their market presence in various regions. This has also enabled them to gain a better foothold in major regions by effectively positioning their services to new clients. Major players operating in this market include Accenture, Boehringer Ingelheim, Bristol-Myers Squibb, ICON, Covance, PAREXEL, Quintiles, Synowlwedge, Cognizant Technology Solutions Corporation, and United BioSource.

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Pharmacovigilance Market – Global Forecasts upto 2020-2026

Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Global Pharmacovigilance Market Report that covers exclusive and analytical data through the span of seven years between 2020-2026. This report is exclusive and encompasses in-depth analysis and industry insights on Global Pharmacovigilance Market. What you will get by reading the report is not just charts, bars, analytical data but also a better understanding of the market which will in turn help you make decisions in the better interest of your organisation.

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Pharmacovigilance Market report provides key statistics on the market status of the Pharmacovigilance manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry. The report also presents the vendor landscape and a corresponding detailed analysis of the major vendors operating in the market.

Highlights of The Pharmacovigilance Report:

  • Pharmacovigilance Market overview and scope of market
  • Revenue and sales of Global Pharmacovigilance Market by type and application (2020 – 2026)
  • Major players in the Global Pharmacovigilance Market
  • Global Pharmacovigilance players and Sales data
  • Marketing strategy analysis and development trends
  • Market effect factor analysis and Industry Growth
  • A complete framework analysis, including an assessment of the parent market
  • Major changes in market dynamics
  • Historical, present, and prospective size of the market from the perspective of both value and volume.

How Will The Pharmacovigilance Market Report Be Beneficial?

This report will be a valuable assessment for new startups who wish to enter the Global Pharmacovigilance Market, as it will not just provide the current market trends but also predict the future trends. You will get a look at the customised market segments according to geographical regions, country or even different combinations of manufacturers in the market.

Major Players in the Pharmacovigilance Market: Accenture, Cognizant, PAREXEL International Corporation, IBM Corporation, Clinquest Group B.V., Wipro Ltd, Oracle Corporation, Foresight Group International AG, TAKE Solutions Ltd, and United BioSource Corporation.

Geographical Base of Pharmacovigilance Market:

  • North America,
  • Europe,
  • Asia Pacific,
  • Latin America,
  • Africa and Middle East.

The study objectives of Pharmacovigilance Market report are:

  • To analyze and study the global Pharmacovigilance Market sales revenue, value, status (2019-2020) and forecast (2020-2026).
  • Focuses on the key Pharmacovigilance Market manufacturers, to study the sales, value, market share and development plans in the future.
  • To define, describe and forecast the Pharmacovigilance Market by type, application, and region.
  • To analyze the global and key regions market potential and advantage,Trends, opportunity, and challenge, and risks.
  • To identify significant trends and factors driving the Pharmacovigilance Market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each sub-market with respect to individual growth trend and their contribution to the Pharmacovigilance Market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the Pharmacovigilance Market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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Pharmacovigilance Market Share, Trends, Growth, Sales, Demand, Revenue, Size, Forecast and COVID-19 Impacts to 2020-2026

Healthcare - Credible Markets

The prime objective of Global Pharmacovigilance Market report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing with 10 major regions and 30 major countries. Deep researches and analysis were done during the preparation of the report. The readers will find this report very helpful in understanding the market in depth. The data and the information regarding the market are taken from reliable sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the industry experts. The facts and data are represented in the report using diagrams, graphs, pie charts, and other pictorial representations. This enhances the visual representation and also helps in understanding the facts much better.

Impact of Covid-19 in Pharmacovigilance Market: Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost every country around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Pharmacovigilance market in 2020. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor/outdoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

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Key players in the global Pharmacovigilance market covered in Chapter 4:

Aris global
Accenture
Cognizant
Parexel International Corporation
Bioclinica Wipro Ltd.
Icon Plc
Itclinical
Ibm Corporation
Foresight Group International AG
Imedglobal
Capgemini
Laboratory Corporation of America Holdings
Take Solutions Ltd.
Clinquest Group b.v.
United Biosource Corporation

In Chapter 11 and 13.3, on the basis of types, the Pharmacovigilance market from 2015 to 2026 is primarily split into:

Preclinical
Phase I
Phase II
Phase III
Phase IV

In Chapter 12 and 13.4, on the basis of applications, the Pharmacovigilance market from 2015 to 2026 covers:

Hospitals
Research Organizations
Industrial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2015-2026) of the following regions are covered in Chapter 5, 6, 7, 8, 9, 10, 13:

United States, Canada, Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden, Poland, Belgium, China, Japan, South Korea, Australia, India, Taiwan, Indonesia, Thailand, Philippines, Malaysia, Brazil, Mexico, Argentina, Columbia, Chile, Saudi Arabia, UAE, Egypt, Nigeria, South Africa and Rest of the World

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Some Points from Table of Content

Global Pharmacovigilance Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 

Chapter One Report Overview

Chapter Two Global Market Growth Trends

Chapter Three Value Chain of Pharmacovigilance Market

Chapter Four Players Profiles

Chapter Five Global Pharmacovigilance Market Analysis by Regions

Chapter Six North America Pharmacovigilance Market Analysis by Countries

Chapter Seven Europe Pharmacovigilance Market Analysis by Countries

Chapter Eight Asia-Pacific Pharmacovigilance Market Analysis by Countries

Chapter Nine Middle East and Africa Pharmacovigilance Market Analysis by Countries

Chapter Ten South America Pharmacovigilance Market Analysis by Countries

Chapter Eleven Global Pharmacovigilance Market Segment by Types

Chapter Twelve Global Pharmacovigilance Market Segment by Applications

Chapter Thirteen Pharmacovigilance Market Forecast by Regions (2020-2026)

Chapter Fourteen Appendix

The research provides answers to the following key questions:

• What is the expected growth rate of the Pharmacovigilance market? What will be the market size for the forecast period, 2020 – 2026?

• What are the major driving forces responsible for transforming the trajectory of the industry?

• Who are major vendors dominating the Pharmacovigilance industry across different regions? What are their winning strategies to stay ahead in the competition?

• What are the market trends business owners can rely upon in the coming years?

• What are the threats and challenges expected to restrict the progress of the industry across different countries?

• What are the key opportunities that business owners can bank on for the forecast period, 2020 – 2026?

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Pharmacovigilance Market Outlook, Trend, Growth and Share Estimation Analysis

The Pharmacovigilance market is set to see an impressive CAGR (Compound Annual Growth Rate) between 2014 and 2020. This will bring to fore lucrative opportunities of growth and pull up market worth significantly. Factors of growth are multiple but foremost among them are strict government regulations, and robust pipeline of drugs. Moreover, the rising incidences of adverse drug reactions are a major contributor to growth in the market. Also, increase in awareness regarding health are contributing pharmacovigilance market’s growth.

The market landscape is competitive and with patents of a number of drugs expiring within the next few years, the need for Pharmacovigilance will rise. Some of the leading players operating in the market include Accenture, Clinquest Group B.V., Cognizant, Laboratory Corporation of America Holdings, IBM Corporation, ArisGlobal, ICON plc. Capgemini, and ITClinical.

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Adverse Drug Reactions Behind High Growth Numbers in Global Pharmacovigilance Market

Rise in incidence of chronic diseases has been noted globally. To understand the severity, some numbers might prove effective. For instance, just having United States under the lens shows that about six in every ten adults in the country are suffering from a chronic disease and about 4 in ten have more than one chronic diseases. It is one of the most critical causes of death in the nation, costing the country about USD 305 trillion annually.

It might be pertinent to note here that risks of getting a chronic disease is increased by certain lifestyle choices such as smoking, lack of exercise and poor diet.

As chronic diseases treatments often require combination of drugs and that increases chances of Adverse Drug Reactions (ADRs), creating need for Pharmacovigilance centers. In the United States, more than 100000 deaths are caused by ADRs, as per statistics from the Journal of American Medical Association.

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North America to Hold Dominant Position

Owing to presence of prominent market players, North America will hold a large chunk of market share. It also has a number of major pharmaceutical companies and medical devices manufacturers. Besides, high levels of investment in development of new drugs and biologics is contributing positively to growth of pharmacovigilance market.

Another region that will chart a significant CAGR is the Asia Pacific due to large number of outsourcing organizations present in the region. This will create attractive growth opportunities for market players to dabble with.

The details have been picked from a TMR report titled, “Pharmacovigilance Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 to 2020.”

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Global Pharmacovigilance Industry Analysis, Key Players, Growth and Forecast by 2030

In the near future, the global pharmacovigilance market size is expected to register a substantial growth, which is majorly attributed to the rising incidence of toxicity and adverse drug reaction, surging concern regarding drug safety, and high patient compliance for drug usage. Apart from this, the government and non-government organizations are increasingly focusing on drug safety and efficacy, which is further projected to drive the industry in the coming years.

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Pharmacovigilance refers to the process of preventing and monitoring adverse drug reactions. As per the World Health Organization (WHO), about 5% of the people admitted in hospitals are hospitalized because of adverse drug reactions, and 6–10% of these people suffer from serious adverse drug reaction, in developed countries. This is further driving the pharmacovigilance market growth.

Geographically, North America held the largest share of the pharmacovigilance market in the past due to high regulatory compliance for pharmacovigilance and rising incidence of adverse drug reactions. In addition to this, a large number of biotechnology and pharmaceutical companies are present in the region, which is further driving the growth of the market.

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The global pharmacovigilance market is competitive, and the major players in the domain are increasingly engaging in collaborations and partnerships and developing new products to strengthen their position. For example, Aris Global launched LifeSphere Safety, a new pharmacovigilance and safety platform suite, in May 2017. Some other key players in the market are Cognizant Technology Solutions, Sanofi, Accenture, F. Hoffmann-La Roche Ltd., Wipro Limited, Clinquest Group B.V., ICON plc, PAREXEL International Corporation, Pfizer Inc., iGATE Corporation, Novartis AG, GlaxoSmithKline, and Bristol-Myers Squibb Company.

This study covers

  • Historical and the present size of the pharmacovigilance market
  • Future potential of the market through its forecast for the period 2020-2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
  • Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
  • Major players operating in the market and their service offerings
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Emerging Trends of Pharmacovigilance Market, Buoyed by the Global COVID-19 Pandemic

Future Market Insights offers a 6-year forecast of the Global Pharmacovigilance Market between 2015 and 2020. In terms of value, the market is expand at a CAGR of 14.2% during the forecast period. This study demonstrates market dynamics and trends in all seven regions that are expected to influence the current environment and future status of the pharmacovigilance market over the forecast period.

Report Description

This Future Market Insights report examines the pharmacovigilance market for the period 2015-2020. The primary objective of the report is to offer insights into developments in the pharmacovigilance market that are significantly transforming global businesses and enterprises.

The global pharmacovigilance market report begins by defining pharmacovigilance and its various segments. This is followed by an overview of the global pharmacovigilance market. The overview section includes FMI analysis of key trends, drivers, restraints, trends and opportunities that are influencing growth of the pharmacovigilance market currently. It also includes information related to the market shares of the major players in the market. Impact analyses of key growth drivers and restraints based on the weighted average model have been included in this report on the global pharmacovigilance market to better equip customers and readers with region specific trends and insights.

The primary driving factor for growth of the pharmacovigilance market is the significant increase witnessed in the intake of medical drugs. Besides, increase in prevalence of acute and chronic diseases has consequently led to an increase in incidences of drug consumption, thereby leading to a rise in the number of adverse drug events and drug toxicity cases. This, in turn, has triggered the growth of the pharmacovigilance market globally. Furthermore, safety regulations, risk of high-profile safety issues and need to review large volume of post-market events along with negative media coverage have compelled the pharmaceutical players to take support of various outsourcing services for drug monitoring. Factors such as intensifying regulatory expectations, tougher inspection system and instant need for patient reporting are boosting the adoption rate of pharmacovigilance among pharmaceutical companies globally. Pharmaceutical companies are now entering into long-term partnerships/service agreements with CROs and BPOs to reduce the pharmacovigilance process related expenditure, incurred right from drug discovery to post-marketing approvals.

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The global pharmacovigilance market is segmented based on phase of drug development, type of reporting methods and type of service providers. On the basis of phase of drug development, the market has been segmented into preclinical studies, phase I clinical trial, phase II clinical trial, phase III clinical trial and phase IV clinical trial or post-marketing surveillance. On the basis of type of reporting methods, the market has been segmented into spontaneous reporting, intensified ADR reporting, targeted spontaneous reporting, cohort event monitoring and EHR mining. On the basis of the type of service providers, the market has been segmented into in-house and contract outsourcing. A detailed analysis has been provided for all segments and sub-segments in terms of market size, Y-o-Y growth rate, absolute $ opportunity and BPS analysis.

A deep market analysis along with market attractiveness index for each of the categories have been provided in the report. The next section of the report highlights the pharmacovigilance market by region. It provides a market outlook for 2015–2020 and sets the forecast within the context of the pharmacovigilance market. The study discusses key regional trends contributing to growth of the pharmacovigilance market worldwide, as well as analyses the extent to which the drivers are influencing this market in each region. Key regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa.

The above sections, by phase of drug development, type of reporting methods and type of service providers and region, evaluate the present scenario and growth prospects of the pharmacovigilance market for the period 2015 –2020. We have considered 2014 as the base year and provided data for the forecast period, i.e. 2015–2020.

To ascertain the market size of pharmacovigilance, we have also considered revenue generated by pharmacovigilance companies. The forecast presented here assesses the total revenue generated across the pharmacovigilance market. In order to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the pharmacovigilance market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome of three different types of analysis, based on supply side, downstream industry demand and the economic envelope.

In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market based on key parameters, such as Year-on-Year (Y-o-Y) growth rates, to understand the predictability of the market and to identify the right growth opportunities in the market.

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In this report, the pharmacovigilance market is segmented in terms of phase of drug development, type of reporting methods, type of service providers and region. These segments are analysed in terms of Basis Point Share (BPS) to understand individual segment’s relative contributions to market growth. This detailed level of information is important for identification of various key trends in the pharmacovigilance market.

Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective of the pharmacovigilance market.

To understand key growth segments in terms of growth across the globe in the near future, Future Market Insights developed the pharmacovigilance market attractiveness index. The resulting index should help providers identify real market opportunities.

In the final section of the report, the ‘Competitive Landscape’ of the market is included to provide report audiences with a dashboard view, based on categories of providers in the value chain of the pharmacovigilance product portfolio and key differentiators. Key categories of providers covered in the report are pharmacovigilance companies. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment of the pharmacovigilance value chain and the potential players with respect to the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on their in-depth assessment of capabilities and successes in the pharmacovigilance marketplace.

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Detailed profiles of the pharmacovigilance companies are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings, SWOT analysis and recent developments. Key players included in the report are Accenture plc, Bristol-Myers Squibb, Clinquest Group B.V., Cognizant Technology Solutions, Covance, Inc., F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc (GSK), ICON plc, iGATE Corporation, iMEDGlobal Corporation, inVentiv Health, Inc., Novartis International AG, PAREXEL International Corporation, Pfizer, Inc., Pharmaceutical Product Development, LLC. (PPD), PRA Health Sciences, Inc., Quintiles Transnational Holdings, Inc., Sanofi S.A., Synowledge LLC and Wipro Limited.

Key Segments Covered

By Phases of Drug Development

  • Preclinical Studies
  • Phase I
  • Phase II
  • Phase III
  • Phase IV or Post Marketing Surveillance

By Type of Method

  • Spontaneous Reporting
  • Intensified ADR Reporting
  • Targeted Spontaneous Reporting
  • Cohort Event Monitoring
  • EHR Mining

By Type of Service Provider

  • In-house Pharmacovigilance
  • Contract Outsourcing

Key Regions/Countries Covered

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Western Europe
    • U.K.
    • France
    • Germany
    • Spain
    • Italy
    • Nordics
    • BENELUX
    • Rest of Western Europe
  • Eastern Europe
    • Poland
    • Russia
    • Rest of Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
    • Greater China
    • India
    • ASEAN
    • Australia and New Zealand
    • Rest of APEJ
  • Japan
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of MEA

Key Companies

  • Accenture plc
  • Bristol-Myers Squibb
  • Clinquest Group B.V.
  • Cognizant Technology Solutions
  • Covance, Inc.
  • Hoffmann-La Roche Ltd.
  • GlaxoSmithKline plc (GSK)
  • ICON plc
  • iGATE Corporation
  • iMEDGlobal Corporation
  • inVentiv Health, Inc.
  • Novartis International AG
  • PAREXEL International Corporation
  • Pfizer, Inc.
  • Pharmaceutical Product Development, LLC. (PPD)
  • PRA Health Sciences, Inc.
  • Quintiles Transnational Holdings, Inc.
  • Sanofi A.
  • Synowledge LLC
  • Wipro Limited
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Pharmacovigilance Market: Demand Uprising; Sentiment Is Shifting Towards Growth

Latest published market study on COVID-19 Outbreak-Global Pharmacovigilance Market with + data Tables, Pie Chart, high level qualitative chapters & Graphs is available now to provide complete assessment of the Market highlighting evolving trends, Measures taken up by players, current-to-future scenario analysis and growth factors validated with View points extracted via Industry experts and Consultants. The study breaks market by revenue and volume (wherever applicable) and price history to estimates size and trend analysis and identifying gaps and opportunities. Some are the players that are in coverage of the study are Cognizant, Foresight Group International AG, United Biosource Corporation, Icon Plc, Laboratory Corporation of America Holdings, Bioclinica Wipro Ltd., Imedglobal, Take Solutions Ltd., Clinquest Group b.v., Accenture, Parexel International Corporation, Capgemini, Itclinical, Aris global & Ibm Corporation.

Get ready to identify the pros and cons of regulatory framework, local reforms and its impact on the Industry. Know how Leaders in COVID-19 Outbreak- Pharmacovigilance are keeping themselves one step forward with our latest survey analysis

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Major highlights from the Study along with most frequently asked questions:

1) What so unique about this COVID-19 Outbreak-Global Pharmacovigilance Assessment?

Market Factor Analysis: In this economic slowdown & due to COVID-19 Outbreak, impact on various industries is huge. Moreover, the growing cases of COVID-19 all across the globe has increased the demand & supply gap as a resultant of sluggish supply chain and production line .

Market Concentration: Includes C4 Index, HHI, Comparative COVID-19 Outbreak- Pharmacovigilance Market Share Analysis (Y-o-Y), Major Companies, Emerging Players with Heat Map Analysis

Market Entropy: Randomness of the market highlighting aggressive steps that players are taking to overcome current scenario. Development activity and steps like expansions, technological advancement, M&A, joint ventures, launches are highlighted here.

Patent Analysis: Comparison of patents issued by each players per year.

Peer Analysis: An evaluation of players by financial metrics such as EBITDA, Net Profit, Gross Margin, Total Revenue, Segmented Market Share, Assets etc to understand management effectiveness, operation and liquidity status.

2)Why only few Companies are profiled in the report?
Industry standards like NAICS, ICB etc are considered to derive the most important manufacturers. More emphasis is given on SMEs that are emerging and evolving in the market with their product presence and technological upgraded modes, current version includes players like “Cognizant, Foresight Group International AG, United Biosource Corporation, Icon Plc, Laboratory Corporation of America Holdings, Bioclinica Wipro Ltd., Imedglobal, Take Solutions Ltd., Clinquest Group b.v., Accenture, Parexel International Corporation, Capgemini, Itclinical, Aris global & Ibm Corporation” etc and many more.

** Companies reported may vary subject to Name Change / Merger etc.

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3) What details will competitive landscape will provide?
A value proposition chapter to gauge COVID-19 Outbreak- Pharmacovigilance market. 2-Page profiles of all listed company with 3 to 5 years financial data to track and comparison of business overview, product specification etc.

4) What all regional segmentation covered? Can specific country of interest be added?
Country that are included in the analysis are North America (Covered in Chapter 7 and 14), United States, Canada, Mexico, Europe (Covered in Chapter 8 and 14), Germany, UK, France, Italy, Spain, Russia, Others, Asia-Pacific (Covered in Chapter 9 and 14), China, Japan, South Korea, Australia, India, Southeast Asia, Others, Middle East and Africa (Covered in Chapter 10 and 14), Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Others, South America (Covered in Chapter 11 and 14), Brazil, Argentina, Columbia, Chile & Others
** Countries of primary interest can be added if missing.

5) Is it possible to limit/customize scope of study to applications of our interest?
Yes, general version of study is broad, however if you have limited application in your scope & target, then study can also be customize to only those application. As of now it covers applications Hospitals, Research Organizations & Industrial.

** Depending upon the requirement the deliverable time may vary.

To comprehend COVID-19 Outbreak-Global Pharmacovigilance market dynamics in the world mainly, the worldwide COVID-19 Outbreak- Pharmacovigilance market is analyzed across major global regions. Customized study by specific regional or country can be provided, usually client prefers below

• North America: United States of America (US), Canada, and Mexico.
• South & Central America: Argentina, Chile, Colombia and Brazil.
• Middle East & Africa: Kingdom of Saudi Arabia, United Arab Emirates, Turkey, Israel, Egypt and South Africa.
• Europe: the UK, France, Italy, Germany, Spain, NORDICs, BALTIC Countries, Russia, Austria and Rest of Europe.
• Asia: India, China, Japan, South Korea, Taiwan, Southeast Asia (Singapore, Thailand, Malaysia, Indonesia, Philippines & Vietnam etc) & Rest
• Oceania: Australia & New Zealand

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Basic Segmentation Details
COVID-19 Outbreak-Global Pharmacovigilance Product Types In-Depth: , Spontaneous Reporting, Intensified ADR Reporting, Targeted Spontaneous Reporting, Cohort Event Monitoring & EHR Mining

COVID-19 Outbreak-Global Pharmacovigilance Major Applications/End users: Hospitals, Research Organizations & Industrial

Geographical Analysis: North America (Covered in Chapter 7 and 14), United States, Canada, Mexico, Europe (Covered in Chapter 8 and 14), Germany, UK, France, Italy, Spain, Russia, Others, Asia-Pacific (Covered in Chapter 9 and 14), China, Japan, South Korea, Australia, India, Southeast Asia, Others, Middle East and Africa (Covered in Chapter 10 and 14), Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Others, South America (Covered in Chapter 11 and 14), Brazil, Argentina, Columbia, Chile & Others & Rest of World

For deep analysis of COVID-19 Outbreak- Pharmacovigilance Market Size, Competition Analysis is provided which includes Revenue (M USD) by Players (2018-2019) & Market Share (%) by Players (2018-2019) complimented with concentration rate.

Complete Purchase of COVID-19 Outbreak-Global Pharmacovigilance Report 2020 at Revised Offered Price @ https://www.htfmarketreport.com/buy-now?format=1&report=2771567

Actual Numbers & In-Depth Analysis of COVID-19 Outbreak-Global Pharmacovigilance Market Size Estimation and Trends Available in Full Version of the Report.

Thanks for reading this article, you can also make sectional purchase or opt-in for regional report by limiting the scope to only North America, ANZ, Europe or MENA Countries, Eastern Europe or European Union.

About Author:
HTF Market Report is a wholly owned brand of HTF market Intelligence Consulting Private Limited. HTF Market Report global research and market intelligence consulting organization is uniquely positioned to not only identify growth opportunities but to also empower and inspire you to create visionary growth strategies for futures, enabled by our extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist you for making goals into a reality. Our understanding of the interplay between industry convergence, Mega Trends, technologies and market trends provides our clients with new business models and expansion opportunities. We are focused on identifying the “Accurate Forecast” in every industry we cover so our clients can reap the benefits of being early market entrants and can accomplish their “Goals & Objectives”.


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Market Reports News

Pharmacovigilance Market Size, Increasing Trend Diversity, Analysis, Future Scope Analysis Featuing Industry Top Key players By 2027

Reports and Data has recently added a new research study on the Global Pharmacovigilance Market to its ever-expanding database. The report is equipped with detailed information about the product types, applications, regions, and key players operating in the market. The report provides a comprehensive analysis of the emerging trends, key challenges, growth potential, drivers, competitive landscape, and industrial chain analysis of the Global Pharmacovigilance industry.

The latest report is furnished with the impact analysis of the current COVID-19 pandemic on the market. The pandemic has drastically changed the dynamics of the market and has affected every aspect of life globally. The rapidly changing dynamics of the market and current and future growth potential of the market are covered in the report. The report offers crucial information about the initial and future assessment of the impact of the COVID-19 crisis on the overall market.

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The report covers an exhaustive analysis of manufacturing processes, development policies, plans, product portfolio, and cost analysis. The data is represented in the form of tables, charts, graphs, diagrams, and figures.

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment offers a comprehensive overview of the company profiles along with the product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.

The report provides an in-depth analysis of the competitive landscape and covers profiles of key players, along with their product portfolios and business strategies.

Key players of the market mentioned in the report are:

Accenture, Cognizant, ArisGlobal, IBM Corporation, IQVIA, BoClinica Inc., Laboratory Corporation of America Holdings, Linical Accelovance, Capgemini, and ITClinical, among others.

The report analyzes various product types and applications, along with manufacturing and process analysis and cost analysis. The data is further validated via extensive primary and secondary research verified by industry experts and professionals of the profiled companies.

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

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Highlights of the Pharmacovigilance Report:

The report covers historical revenue and sales volume, and the data is validated to provide a forecast market estimation of the market size and sales numbers for key regions along with types and end-user applications. Moreover, the report also includes macroeconomic factors and regulatory policies pertaining to the Pharmacovigilance industry for evaluation and predictive analysis.

Additionally, the report provides beneficial data about distribution, production, consumption patterns, export/import, and demand and supply ratio. The report covers the latest trends, product portfolio, demographics, regional segmentation, and regulatory framework of the Pharmacovigilance industry.

Based on the geographical spread, the Pharmacovigilance industry is segmented into North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.

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Highlights of the TOC of the Pharmacovigilance Market Report:

Global Pharmacovigilance Market Overview

Global Pharmacovigilance Market Size and Share by Types

Global Pharmacovigilance Market Size and Share by Applications

Global Pharmacovigilance Market Sales and Growth Rate

Global Pharmacovigilance Market Competitive Landscape

Global Pharmacovigilance Market Regional Analysis

Global Pharmacovigilance Market Forecast Estimation (2020-2027)

Global Pharmacovigilance Market Trends, Drivers, Challenges, Risks, and Opportunities

Global Pharmacovigilance Market Revenue, Price, and Gross Margin for Each Segment

Global Pharmacovigilance Market Industrial Chain Analysis

Read more about the TOC in the full report.

To get the Report Description and TOC, visit @ https://www.reportsanddata.com/report-detail/pharmacovigilance-market

Thank you for reading our report. Customization of this report is available on chapter wise section or region wise. Kindly get in touch with us to know more about the report, and our team will provide the report suited to your needs.

Categories
News

Pharmacovigilance Market A Latest Research Report to Share Market Insights and Dynamics

Global Pharmacovigilance Market: Snapshot

Pharmacovigilance (PV) is a process refereeing to the detection, collection, prevention, and monitoring of negative effects that may occur because of the use of pharmaceutical products and other drugs. PV services cater to a wide range of drug related activities such as discovery of a drug to its commercialization. It also helps with the utilization of tools and software that reviews, classifies data on drugs and pharmaceutical products. There has been a soaring demand for pharmacovigilance services due factors such as rising drug consumption, growing prevalence of chronic diseases, respiratory disorders, and cancer symptoms, among others. In addition to this, a large number of adverse drug reactions (ADRs) has added a substantial burden on healthcare sector leading to the increased demand for pharmacovigilance.

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The global pharmacovigilance market is expanding at a swiftly. Many leading pharmaceutical and IT companies are strategically collaborating and actively promoting pharmacovigilance software to bolster their market contribution. There are extensive post-market controlling mechanisms set up by multiple government supervisory agencies that concentrates on safety and efficiency of the various pharmaceutical products after they are pitched in the market. The governments have also established centers to enhance the pharmacovigilance services. For instance, Indian Pharmacopoeia Commission (IPC) has aimed to assign around 40 pharmacovigilance officials across the country to coordinate with various ADR centers and strengthen reporting and monitoring of ADR activities. Increased mortality rate because of ADRs and rising awareness among patients about the safety and efficiency of the drugs are expected to be the significant driving factors for the growth of the global pharmacovigilance market.

Global Pharmacovigilance Market: Overview 

Pharmacovigilance (PV) is a scientific process pertaining to the collection, detection, monitoring, and prevention of adverse effects that may arise due to use of drugs and pharmaceutical products.

Pharmacovigilance services cater to drug development activities ranging from its discovery to commercialization and consist of tools and software that helps in reviewing, classifying, creating, and other data. PV occupies a critical role in drug regulation system that helps in comprehensive monitoring and evaluation of adverse drug reactions (ADRs). Increasing instances of ADR cause an extension of patient morbidity, increase hospitalization fees, and thus pose a significant burden on any responsive healthcare system. These factors stimulate the demand for pharmacovigilance services worldwide and contribute to the expansion of the market. Several pharmaceutical companies prefer collaborating with BPOs and contract research organizations (CROs) for pharmacovigilance services to bring down the cost and augment the operational efficiency.

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Global Pharmacovigilance Market: Trends

The global pharmacovigilance market is primarily driven by the rising incidence of ADR, soaring patient awareness regarding safety of drugs, and stringent regulations by various agencies related to drug approvals. Strict guidelines related to clinical trials of new drug therapies and mandatory requirements to keep electronic medical records (EMR) have propelled the growth of the PV market. Initiatives taken by renowned regulatory agencies, such as the FDA and European Medicines Agency (EMA), and global organizations such as the WHO have mounted pressures on several biotechnology and pharmaceutical companies to manufacture safe drugs. This is expected to stimulate the demand for pharmacovigilance.

Furthermore, the rising trend of outsourcing of PV services to BPOs and CROs has resulted in effective drug regulation system. These outsourcing entities offer pharmacovigilance services that have high regulatory compliance, enhanced productivity, and better strategic outcomes, thus boosting the global PV market. However, concerns of patient data safety, rise in web-based sale of drugs, and lack of expertise are the key factors that may impede the growth of the market to some extent. Nevertheless, the rising number of clinical trials, particularly phase 3 and phase 4 clinical trial will unlock abundant opportunities for the market players.

Global Pharmacovigilance Market: Market Potential 

The global pharmacovigilance is growing at a rapid pace. Intense post-market monitoring mechanisms set up by various government regulatory agencies increasingly focus on safety and efficacy of pharmaceutical products after they are launched in the market. This has led to a flurry of PV activities and procedures. Various coordination initiatives between national agencies, healthcare providers, and regional pharmacovigilance centers in several countries such as France, China, India, Romania, and Turkey have put the onus on pharmaceutical companies to collect and assess information relating to adverse drug effects. Subsequently, effective measures can be taken to prevent and mitigate the risks.

Furthermore, governments in various countries have created centers to expand PV services. For instance, Indian Pharmacopoeia Commission (IPC) has intended to appoint as many as 40 district product safety pharmacovigilance officials in the country; these officials will coordinate with different ADR centers to strengthen the monitoring and reporting of ADR activities. These initiatives are expected to provide a robust boost to the market across the region.

Global Pharmacovigilance Market: Regional Outlook 

The pharmacovigilance market in the U.S. held a prominent share in 2016 and the regional market is expected to rise at healthy CAGR during the forecast period. The growth is attributed to the rising mortality rates due to ADR and soaring awareness of patients on safety and efficacy of drugs. Asia Pacific is expected to expand at positive CAGR in the next five years. Growth witnessed in the region will be driven by stringent health care regulations, vast geriatric base, intense government initiatives to set up PV centers, and rising number of clinical trials conducted. 

Global Pharmacovigilance Market: Competitive Landscape 

Major technology and IT companies are actively launching pharmacovigilance software to strengthen their market shares. Pharmaceutical and life sciences companies are forming strategic collaborations with key contract research organizations (CRO) to expand their market presence in various regions. This has also enabled them to gain a better foothold in major regions by effectively positioning their services to new clients. Major players operating in this market include Accenture, Boehringer Ingelheim, Bristol-Myers Squibb, ICON, Covance, PAREXEL, Quintiles, Synowlwedge, Cognizant Technology Solutions Corporation, and United BioSource.

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Categories
COVID-19 Industry Impact

Pharmacovigilance Market Trends and Growth Factors Analysis

The Pharmacovigilance market is set to see an impressive CAGR (Compound Annual Growth Rate) between 2014 and 2020. This will bring to fore lucrative opportunities of growth and pull up market worth significantly. Factors of growth are multiple but foremost among them are strict government regulations, and robust pipeline of drugs. Moreover, the rising incidences of adverse drug reactions are a major contributor to growth in the market. Also, increase in awareness regarding health are contributing pharmacovigilance market’s growth.

The market landscape is competitive and with patents of a number of drugs expiring within the next few years, the need for Pharmacovigilance will rise. Some of the leading players operating in the market include Accenture, Clinquest Group B.V., Cognizant, Laboratory Corporation of America Holdings, IBM Corporation, ArisGlobal, ICON plc. Capgemini, and ITClinical.

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Adverse Drug Reactions Behind High Growth Numbers in Global Pharmacovigilance Market

Rise in incidence of chronic diseases has been noted globally. To understand the severity, some numbers might prove effective. For instance, just having United States under the lens shows that about six in every ten adults in the country are suffering from a chronic disease and about 4 in ten have more than one chronic diseases. It is one of the most critical causes of death in the nation, costing the country about USD 305 trillion annually.

It might be pertinent to note here that risks of getting a chronic disease is increased by certain lifestyle choices such as smoking, lack of exercise and poor diet.

As chronic diseases treatments often require combination of drugs and that increases chances of Adverse Drug Reactions (ADRs), creating need for Pharmacovigilance centers. In the United States, more than 100000 deaths are caused by ADRs, as per statistics from the Journal of American Medical Association.

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North America to Hold Dominant Position

Owing to presence of prominent market players, North America will hold a large chunk of market share. It also has a number of major pharmaceutical companies and medical devices manufacturers. Besides, high levels of investment in development of new drugs and biologics is contributing positively to growth of pharmacovigilance market.

Another region that will chart a significant CAGR is the Asia Pacific due to large number of outsourcing organizations present in the region. This will create attractive growth opportunities for market players to dabble with.

The details have been picked from a TMR report titled, “Pharmacovigilance Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 to 2020.”

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