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Pharmacovigilance market Increasing incidence of drug toxicity and ADR (adverse drug reactions) are stimulating the market demand.
Pharmacovigilance Market Size – USD 4,820.5 Million in 2019, Market Growth - CAGR of 12.5%, Market Trends –Rise in the development and consumption rate of drugs” — Emergen Research
VANCOUVER, BC, CANADA, June 6, 2022 /EINPresswire.com / --
The global pharmacovigilance market is expected to be worth USD 12.48 Billion by 2027, according to a current analysis by Emergen Research. The market for pharmacovigilance is experiencing rapid growth attributed to a rise in application for spontaneous reporting, electronic health record (HER) mining, cohort event monitoring, and intensified adverse drug reaction (ADR) reporting, among others. The pharmacovigilance primarily emphasizes on on ADR (adverse drug reactions) and cases of drug toxicity. According to the statistic released by WHO, about 5.0% of hospitalized patients in the developed nations are admitted into the hospital due to adverse drug reactions, and 6.0% to 10% of in-patients are anticipated to observe a severe adverse reaction for the duration of hospitalization.
The report is formulated with the updated and latest information of the global Pharmacovigilance Market further validated and verified by the industry experts and professionals. The Global Pharmacovigilance Market report contains historical, current, and forecast estimation of the revenue generation and profits for each segment and sub-segment of the Pharmacovigilance Market in each key region of the world. The report additionally sheds light on the emerging growth opportunities in the business sphere that are anticipated to bolster the growth of the market.
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Some Key Highlights from the Report
In December 2019, UCB and Accenture made an announcement about signing of a partnership agreement to build a safety solution on INTIENT™ pharmacovigilance, by Accenture, to accelerate patient safety case reports' processing. The agreement is intended to help UCB in discovering the influence of existing treatments on patient's safety and therefore managing the novel drugs' risk in a better way.
Spontaneous reporting is a crucial type in pharmacovigilance by providing information from real clinical settings in the course of a drug's life. Physicians and many other healthcare specialists contribute immensely to improving public health by supposed adverse drug reactions' reporting.
Several firms support in-house reporting management to healthcare authorities, as in-house reporting is possibly the major contact entity for any kind of in and out deliberation.
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The report, additionally, offers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.
Key players in market include: ArisGlobal, Accenture, Cognizant, Capgemini, IBM Corporation, IQVIA, BoClinica Inc., Laboratory Corporation of America Holdings, Linical Accelovance, and ITClinical, among others.
Furthermore, the report provides a comprehensive overview of the Pharmacovigilance Market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
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Emergen Research has segmented the global pharmacovigilance on the basis of type, service provider, clinical trial phase, end-users, and region:
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
Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Pharmacovigilance Market Expected to boost the growth of the industry in the coming years.
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
U.S.
Canada
Europe
Germany
UK
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
MEA
Saudi Arabia
UAE
Rest of MEA
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Key Questions Answered in the Report:
What is the growth rate of the Pharmacovigilance Market?
What is the anticipated market valuation of Pharmacovigilance Market industry by 2027?
What are the key growth driving and restraining factors of the Pharmacovigilance Market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Pharmacovigilance Market industry over the forecast period?
Which region is expected to show significant growth in the coming years?
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Pharmacovigilance Market Size Worth USD 12.48 Billion by 2027
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