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.
A rise in demand for outsourcing services by players in the healthcare industry is anticipated to boost the forecast period’s pharmacovigilance market growth. A spiraling inclination to outsource eliminates the issues pertaining to overhead costs and the pharmacovigilance resources’ deployment. Outsourcing is beneficial in enhancing the cost-effectiveness and output efficiency by releasing pressure associated with the procurement of resources on firms, therefore encouraging market growth. Leading pharmaceutical firms are substantially involved in extensive R&D ingenuities for novel therapeutic drug molecules to get superior outcomes, thereby successfully leading to a rise in drug development activities.
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The latest market intelligence report, titled ‘Global Pharmacovigilance Market’, is intended to provide the target audience with the necessary information about the global Pharmacovigilance industry. The report comprises a detailed analysis of the vital elements of the Pharmacovigilance market, including key drivers, constraints, opportunities, limitations, threats, and micro- and macro-economic factors. The report carefully investigates the present market scenario and the fundamental growth prospects. The report entails an organized database of the Pharmacovigilance market dynamics that helps market analysts estimate the global market growth rate over the projected timeline. Therefore, the report, published by emergen research, is a detail-oriented compilation of the crucial aspects of the Pharmacovigilance market, including the key players’ product offerings, the wide application range of these products, the major market segments, leading market contenders, their company profiles, pricing strategies, production capacities, revenue generation schemes, technological advancements, and many others.
Our experienced market research team has provided updated information on the ongoing COVID-19 pandemic and its adverse economic impact in the latter segment of the report. The coronavirus outbreak has led to drastic changes in the current Pharmacovigilance business landscape, limiting the growth opportunities for various manufacturers and buyers for the next few years. Besides making speculations about the market’s post-COVID-19 scenario, the report discusses its existing situation. The report eventually offers conclusive data related to the Pharmacovigilance market growth assessed on both regional and global levels.Increasing incidence of drug toxicity and ADR (adverse drug reactions) are stimulating the market demand.
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.
Regional Analysis of the Pharmacovigilance Market:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The Pharmacovigilance Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length.
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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.
Key Questions Answered in the Report:
What is the growth rate of the Pharmacovigilance market? What is the anticipated market valuation of Pharmacovigilance 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 industry over the forecast period?
Which region is expected to show significant growth in the coming years?
Overview of the Pharmacovigilance Market Report:
Introduction, Product Scope, Market Overview, and Opportunities
Analysis of the Manufacturers with sales, revenue, and price analysis
Comprehensive analysis of the competitive landscape
Extensive profiling of the key competitors along with their business strategies and market size
Regional analysis of the market along with sales, revenue, market share, and global position
Country-wise analysis of the market along with types, applications, and manufacturing
Strategic recommendations to established players as well as new entrants
In-depth analysis of the risks, restraints, and limitations in the Pharmacovigilance industry
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)
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)
Clinical Trial Phase Outlook (Revenue, USD Million; 2017-2027)
End-Users Outlook (Revenue, USD Million; 2017-2027)
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