The pharmacovigilance market is expected to register a CAGR of nearly 7.% during the forecast period, with a revenue of approximately USD 5.6 billion in 2020, and it is expected to reach 8.6 billion by 2027.
Drug surveillance is the science and activity involved in the detection, understanding, evaluation, and prevention of drug side effects or other drug-related problems. Adverse drug reactions (ADRs) are undesirable and undesirable effects of drugs that occur during clinical use. The increase in ADR is a major concern in the field of pharmacovigilance and will contribute to a significant increase in demand for clinical data management services over the forecast period. According to the National Center for Biotechnology Information (NCBI), deaths from ADR more than doubled in 2014, leading to a surge in hospitalization. The growing demand for ongoing pharmacovigilance for effective surveillance of ADR will provide several growth opportunities for market expansion.
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Market Segments
By Clinical Trial Phase
- Preclinical
- Phase I
- Phase II
- Phase III
- Phase IV
By Service Provider
- In-house
- Contract outsourcing
Major Players
- Cognizant
- Accenture
- IBM
- Capgemini
- Wipro Limited
Scope of the Report
The research study analyzes the global Pharmacovigilance industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Pharmacovigilance Market Report
1. What was the Pharmacovigilance Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027).
2. What will be the CAGR of the Pharmacovigilance Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Pharmacovigilance Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the global Pharmacovigilance market.
- The market share of the global Pharmacovigilance market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the global Pharmacovigilance market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global Pharmacovigilance market.
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