Pharmacovigilance Market Growth Prospects, Key Vendors And Future Scenario Forecast to 2027
Research Reports
Jan 20, 2021
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
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.
Regional Scope- North America; Europe; Asia Pacific; Central & South America; MEA
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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.
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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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Pharmacovigilance Market Segmentation & Impact Analysis
4.1. Pharmacovigilance Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing prevalence of adverse drug reactions and toxicity
4.2.2.2. Rise in drug consumption and development rates
4.2.2.3. Growing trend towards outsourcing pharmacovigilance
4.2.3. Market restraints analysis
4.2.3.1. Dearth of skilled professionals
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Pharmacovigilance Market By Type Insights & Trends, Revenue (USD Million)
5.1. Type Dynamics & Market Share, 2019 & 2027
5.1.1. Spontaneous Reporting
5.1.2. Intensified Adverse Drug Reaction (ADR) Reporting
5.1.3. Targeted Spontaneous Reporting
5.1.4. Cohort Event Monitoring
5.1.5. Electronic Health Record (EHR) Mining
Continue…
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