Pharmacovigilance Pv Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

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Market Snapshot

CAGR:7.94
2023
2032

Source: Market Expertz

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Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 7.94
Healthcare-companies
Healthcare-Snapshot

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Report Overview

The Pharmacovigilance Market is poised for substantial growth, with an estimated Compound Annual Growth Rate (CAGR) of 6.70% between 2022 and 2032. Over this period, the market size is projected to increase by USD 9,854.21 million. The growth of the market hinges on several factors, including the increasing focus on patient safety, stringent regulatory guidelines, and the growing demand for effective drug monitoring and adverse event reporting. Pharmacovigilance refers to the science and activities related to the detection, assessment, understanding, and prevention of adverse effects or any other drug-related problems.

Pharmacovigilance Market Overview:

Drivers:

One of the key drivers of the Pharmacovigilance Market growth is the growing emphasis on patient safety and the need to monitor drug safety profiles throughout their lifecycle. Regulatory agencies worldwide require robust pharmacovigilance practices to ensure that drugs on the market are continuously monitored for any potential adverse effects and risks. This focus on patient safety is driving the adoption of advanced pharmacovigilance systems and technologies.

The increasing complexity of drug development and the global expansion of pharmaceutical markets are also contributing to market expansion. As new drugs are introduced in diverse populations and healthcare settings, the demand for comprehensive pharmacovigilance programs to identify, assess, and manage potential risks is on the rise.

Trends:

An emerging trend in the Pharmacovigilance Market is the integration of artificial intelligence (AI) and machine learning (ML) technologies. These technologies offer the potential to streamline the identification and assessment of adverse events, enhance signal detection, and automate the processing of large volumes of safety data. AI-powered systems can help pharmacovigilance professionals uncover hidden patterns and trends in adverse event reports, enabling faster decision-making and proactive risk mitigation.

Restraints:

One of the challenges facing the Pharmacovigilance Market is the increasing volume of adverse event data generated from various sources, including social media and electronic health records. Managing and analyzing this vast amount of data requires sophisticated tools and technologies, which can be expensive and time-consuming to implement.

Additionally, navigating the complex regulatory landscape and ensuring compliance with evolving guidelines can be a barrier to market growth. Different regions and regulatory authorities have varying reporting requirements and timelines, making global pharmacovigilance coordination a complex endeavor.

Pharmacovigilance Market Segmentation By Application:

The post-market surveillance segment is anticipated to witness significant growth during the forecast period. As drugs enter the market and are used by larger patient populations, the need for continuous monitoring of their safety profile becomes critical. Pharmacovigilance plays a crucial role in identifying and assessing adverse events, ensuring patient safety, and enabling regulatory compliance.

Pharmacovigilance Market Segmentation By Type:

The spontaneous reporting systems segment is projected to experience substantial growth. Spontaneous reporting involves healthcare professionals and consumers voluntarily reporting adverse events to regulatory authorities or pharmaceutical companies. This system is a cornerstone of pharmacovigilance and provides an essential source of data for identifying potential safety concerns.

Regional Overview:


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North America is expected to dominate the Pharmacovigilance Market during the forecast period. The region's advanced healthcare infrastructure, regulatory framework, and significant pharmaceutical industry presence contribute to its leadership in pharmacovigilance practices.

In Europe, the market is also poised for significant growth due to stringent regulatory guidelines, increasing drug approvals, and the need for robust pharmacovigilance strategies across the European Union.

Pharmacovigilance Market Customer Landscape:

The market report includes an analysis of the customer landscape, considering factors such as pharmaceutical companies, biotechnology firms, regulatory agencies, and contract research organizations. Understanding the diverse needs of these stakeholders and tailoring pharmacovigilance solutions to meet those needs is essential for market success.

Major Pharmacovigilance Market Companies:

Market players are implementing strategies such as partnerships, mergers and acquisitions, technological innovations, and expanding service portfolios to strengthen their market presence.

Sample Companies:

  • Accenture plc
  • IQVIA Holdings Inc.
  • Cognizant Technology Solutions Corp.
  • PAREXEL International Corporation
  • ICON plc
  • Wipro Limited
  • Capgemini SE
  • Syneos Health Inc.
  • Covance Inc.
  • PPD Inc.

Segment Overview:

The Pharmacovigilance Market report forecasts revenue growth at global, regional, and country levels, providing insights into the latest trends and growth opportunities from 2019 to 2032.

  • Application Outlook (USD Million, 2019 - 2032)

    • Pre-Marketing Surveillance
    • Post-Marketing Surveillance

  • Type Outlook (USD Million, 2019 - 2032)

    • Spontaneous Reporting Systems
    • Intensive Monitoring Systems
    • Targeted Spontaneous Reporting

  • Geography Outlook (USD Million, 2019 - 2032)

    • North America
      • The U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Rest of Europe
    • APAC
      • China
      • Japan
      • India
      • Rest of APAC
    • Rest of the World
      • Latin America
      • Middle East & Africa

TABLE OF CONTENTS: GLOBAL Pharmacovigilance (PV) MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Pharmacovigilance (PV) MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Pharmacovigilance (PV) Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

    4.5.1. Power Of Suppliers

    4.5.2. Power Of Buyers

    4.5.3. Threat Of Substitutes

    4.5.4. Threat Of New Entrants

    4.5.5. Competitive Rivalry

Chapter 5. Pharmacovigilance (PV) MARKET BY types INSIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Adverse Event Reporting Software

    5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3. Drug Safety Audits Software

    5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4. Issue Tracking Software

    5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.5. Fully Integrated Software

    5.5.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.5.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Pharmacovigilance (PV) MARKET BY Application INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. Pharma and Biotech Companies

    6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Contract Research Organizations (CROs)

    6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.4. Business Process Outsourcing (BPO) Firms

    6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

chapter 7. Pharmacovigilance (PV) MARKET REGIONAL OUTLOOK

7.1. Pharmacovigilance (PV) Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

    7.2.1. North America Pharmacovigilance (PV) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.2. North America Pharmacovigilance (PV) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.3. North America Pharmacovigilance (PV) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.4. North America Pharmacovigilance (PV) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

    7.2.5.1. U.S. Pharmacovigilance (PV) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.5.2. U.S. Pharmacovigilance (PV) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.5.3. U.S. Pharmacovigilance (PV) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.5.4. U.S. Pharmacovigilance (PV) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

    7.2.6.1. Canada Pharmacovigilance (PV) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.6.2. Canada Pharmacovigilance (PV) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.6.3. Canada Pharmacovigilance (PV) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.6.4. Canada Pharmacovigilance (PV) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

    7.3.1. Europe Pharmacovigilance (PV) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.2. Europe Pharmacovigilance (PV) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.3. Europe Pharmacovigilance (PV) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.4. Europe Pharmacovigilance (PV) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

    7.3.5.1. Germany Pharmacovigilance (PV) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.5.2. Germany Pharmacovigilance (PV) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.5.3. Germany Pharmacovigilance (PV) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.5.4. Germany Pharmacovigilance (PV) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

    7.3.6.1. France Pharmacovigilance (PV) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.6.2. France Pharmacovigilance (PV) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.6.3. France Pharmacovigilance (PV) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.6.4. France Pharmacovigilance (PV) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

    7.3.7.1. U.K. Pharmacovigilance (PV) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.7.2. U.K. Pharmacovigilance (PV) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.7.3. U.K. Pharmacovigilance (PV) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.7.4. U.K. Pharmacovigilance (PV) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

    7.4.1. Asia Pacific Pharmacovigilance (PV) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.2. Asia Pacific Pharmacovigilance (PV) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.3. Asia Pacific Pharmacovigilance (PV) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.4. Asia Pacific Pharmacovigilance (PV) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

 7.4.5. CHINA

     7.4.5.1. China Pharmacovigilance (PV) Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.5.2. China Pharmacovigilance (PV) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.5.3. China Pharmacovigilance (PV) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.5.4. China Pharmacovigilance (PV) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

     7.4.6.1. India Pharmacovigilance (PV) Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.6.2. India Pharmacovigilance (PV) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.6.3. India Pharmacovigilance (PV) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.6.4. India Pharmacovigilance (PV) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

     7.4.7.1. Japan Pharmacovigilance (PV) Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.7.2. Japan Pharmacovigilance (PV) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.7.3. Japan Pharmacovigilance (PV) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.7.4. Japan Pharmacovigilance (PV) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

    7.4.8.1. Australia Pharmacovigilance (PV) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.8.2. Australia Pharmacovigilance (PV) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.8.3. Australia Pharmacovigilance (PV) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.8.4. Australia Pharmacovigilance (PV) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

    7.5.1. Mea Pharmacovigilance (PV) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.5.2. Mea Pharmacovigilance (PV) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.5.3. Mea Pharmacovigilance (PV) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.5.4. Mea Pharmacovigilance (PV) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

     7.6.1. Latin America Pharmacovigilance (PV) Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.6.2. Latin America Pharmacovigilance (PV) Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.6.3. Latin America Pharmacovigilance (PV) Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.6.4. Latin America Pharmacovigilance (PV) Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

    7.6.5. Latin America Pharmacovigilance (PV) Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

    8.2.1. New Product Launches

    8.2.2. Investment & Expansion

    8.2.3. Acquisitions

    8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

     8.3.1. North American Suppliers

     8.3.2. European Suppliers

     8.3.3. Asia-Pacific Suppliers

     8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 AB Cube

    9.1.1. Company Overview

    9.1.2. Financial Performance

    9.1.3. Product Insights

    9.1.4. Strategic Initiatives

9.2 ArisGlobal

    9.2.1. Company Overview

    9.2.2. Financial Performance

    9.2.3. Product Insights

    9.2.4. Strategic Initiatives

9.3 PV-Works

    9.3.1. Company Overview

    9.3.2. Financial Performance

    9.3.3. Product Insights

    9.3.4. Strategic Initiatives

9.4. EXTEDO GmbH

    9.4.1. Company Overview

    9.4.2. Financial Performance

    9.4.3. Product Insights

    9.4.4. Strategic Initiatives

9.5. Sarjen Systems Pvt. Ltd

    9.5.1. Company Overview

    9.5.2. Financial Performance

    9.5.3. Product Insights

    9.5.4. Strategic Initiatives

9.6. Online Business Applications

    9.6.1. Company Overview

    9.6.2. Financial Performance

    9.6.3. Product Insights

    9.6.4. Strategic Initiatives

9.7. Ennov Solutions Inc

    9.7.1. Company Overview

    9.7.2. Financial Performance

    9.7.3. Product Insights

    9.7.4. Strategic Initiatives

9.8. Oracle Corporation

    9.8.1. Company Overview

    9.8.2. Financial Performance

    9.8.3. Product Insights

    9.8.4. Strategic Initiatives

9.9 BaseCon

    9.9.1. Company Overview

    9.9.2. Financial Performance

    9.9.3. Product Insights

    9.9.4. Strategic Initiatives

9.10 United BioSource Corporation

    9.10.1. Company Overview

    9.10.2. Financial Performance

    9.10.3. Product Insights

    9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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