The Worldwide Pharmacovigilance Industry is Expected to Reach $15.8 Billion by 2030 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Pharmacovigilance Market Share, Size, Trends, Industry Analysis Report, By Service, By Product Life Cycle, By Type, By Process Flow, By Therapeutic Area, By End-Use, By Region; Segment Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global pharmacovigilance market size is expected to reach USD 15.84 Billion by 2030 according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.

The primary drivers of the market include rising medication intake novel drug development frequencies, rising prices of negative drug responses and drug toxicities, as well as an expanding tendency of contracting pharmacovigilance solutions is expected to boost the industry growth.

Moreover, the pharmaceutical sector's excessive expenditure, rising incidence of adverse drug events, and drug mistakes are propelling the industry forward. Furthermore, the coronavirus pandemic has produced an emergency demand for a vaccine that has offered several chances for industry participants.

The contract outsources segment is expected to hold the major shares in the global market during the forecast period due to its benefits such as transforming fixed supply costs into variables, refining on-demand contact to distinctive expertise along with other benefits.

North America is expected to hold the major share in the global market over the forecast period due to increasing investment by the industry players in introducing novel drugs. Moreover, stringent regulations along with the presence of advanced healthcare systems in countries like the U.S. and Canada are expected to create lucrative opportunities for industry growth.

Market Dynamics

Drivers and Opportunities

• Rising prevalence of chronic disease
• Increasing investment in drug development

Restraints and Challenges

• Issues related to data management

The publisher has segmented the pharmacovigilance market report on the basis of service provider, product life cycle, type, process flow, therapeutic area, end-use, and region:

Pharmacovigilance, Service Provider Outlook

• In-house
• Contract Outsourcing

Pharmacovigilance, Product Life Cycle Outlook

• Pre-clinical
• Phase I
• Phase II
• Phase III
• Phase IV

Pharmacovigilance, Type Outlook

• Spontaneous Reporting
• Intensified ADR Reporting
• Targeted Spontaneous Reporting
• Cohort Event Monitoring
• EHR Mining

Pharmacovigilance, Process Flow Outlook

• Case Data Management
• Case Logging
• Case Data Analysis
• Medical Reviewing & Reporting
• Signal Detection
• Adverse Event Logging
• Adverse Event Analysis
• Adverse Event Review & Reporting
• Risk Management System
• Risk Evaluation System
• Risk Mitigation System

Pharmacovigilance, Therapeutic Area Outlook

• Oncology
• Neurology
• Cardiology
• Respiratory Systems
• Others

Pharmacovigilance, End-Use Outlook

• Pharmaceuticals
• Biotechnology Companies
• Medical Device Manufacturers
• Others

Pharmacovigilance, Regional Outlook

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Italy
• France
• Netherlands
• Russia
• Spain
• Asia Pacific
• China
• Japan
• India
• Indonesia
• Malaysia
• South Korea
• Latin America
• Brazil
• Argentina
• Mexico
• Middle East & Africa
• Israel
• Saudi Arabia
• South Africa
• UAE

Companies Mentioned

• Accenture
• ArisGlobal
• BioClinica Inc.
• Capgemini
• Clinquest Group B.V. (Linical Americas). Cognizant
• FMD K&L
• IBM Corporation
• ICON Plc.
• IQVIA
• ITClinical
• Laboratory Corporation of America Holdings
• Linical Accelovance
• PAREXEL International Corporation
• TAKE Solutions
• United BioSource Corporation
• Wipro Limited

For more information about this report visit https://www.researchandmarkets.com/r/ma8abc

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900