Pharmacovigilance Market Report 2021, Industry Overview, Growth Rate and Forecast 2026

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Updated on Aug 6, 2021

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According to the latest report by IMARC Group, The global pharmacovigilance market grew at a CAGR of around 10% during 2015-2020. Looking forward, IMARC Group expects the market to exhibit strong growth during the next five years.

Pharmacovigilance (PV) refers to the pharmacological science dealing with the assessment, detection and prevention of unfavorable effects associated with pharmaceutical products. It plays a crucial role in identifying previously unknown adverse effects, recognizing changes in the severity or frequency, and assessing the risks and benefits of drugs to ascertain required actions. PV also certifies the accuracy of communicated information to patients and healthcare professionals. As a result, it is widely used to understand the effects of drugs on individuals worldwide.

Market Trends:

The growing incidences of lifestyle diseases, such as diabetes, hypertension, cardiac disorders, etc., have resulted in the growing consumption of drugs. This, along with the rising cases of adverse drug reactions (ADRs), is primarily driving the market growth. Additionally, the sudden outbreak of COVID-19 has resulted in the urgent need for a vaccine, which has created numerous opportunities for the market players. Moreover, several key manufacturers are introducing advanced platforms to ensure automated ADR reporting, thereby further contributing to the market growth. Besides this, various pharmaceutical manufacturers are increasingly outsourcing pharmacovigilance operations to third parties in order to increase internal resource flexibility and enhance productivity over shorter periods.

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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Pharmacovigilance Market Coverage and Segmentation 2021-2026:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

Accenture plc

ArisGlobal LLC

BioClinica Inc. (Cinven Partners LLP)

Capgemini

Cognizant

International Business Machines Corporation

ICON plc.

IQVIA Inc.

ITClinical

Parexel International Corporation

Wipro Limited.

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The report has segmented the market on the basis of Product Type, End-User and Region.

Breakup by Service Provider:

In-house

Contract Outsourcing

Breakup by Product Life Cycle:

Pre-clinical

Phase I

Phase II

Phase III

Phase IV

Breakup by Type:

Spontaneous Reporting

Intensified ADR Reporting

Targeted Spontaneous Reporting

Cohort Event Monitoring

EHR Mining

Breakup by Process Flow:

Case Data Management

Case Logging

Case Data Analysis

Medical Reviewing and Reporting

Signal Detection

Adverse Event Logging

Adverse Event Analysis

Adverse Event Review and Reporting

Risk Management System

Risk Evaluation System

Risk Mitigation System

Breakup by Therapeutic Area:

Oncology

Neurology

Cardiology

Respiratory Systems

Others

Breakup by End Use:

Pharmaceuticals Companies

Biotechnology Companies

Medical Device Companies

Others

Breakup by Region:

North America (United States, Canada)

Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)

Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

Latin America (Brazil, Mexico, Others)

Middle East and Africa

If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

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