Global Pharmacovigilance Markets, Competition, Forecast & Opportunities, 2026
Dublin, Oct. 27, 2021 (GLOBE NEWSWIRE) -- The "Global Pharmacovigilance Market, By Clinical Trial Phase (Pre-Clinical, Phase 1, Phase 2, Phase 3, and Phase 4), By Method, By Service Provider, By Process Flow, By Therapeutic Area, By End-User, By Region, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
Global pharmacovigilance market is anticipated to witness double digit CAGR during the forecast period owing to the increasing drug consumption and drug developments around the globe.
Growing prevalence of chronic diseases such as oncology, diabetes, and others has created the need for advanced and more effective pharmaceutical drugs. Keeping in view the chances of Adverse Drug Reactions (ADR) and drug toxicity, healthcare companies are continuously incorporating pharmacovigilance services. Moreover, numerous consumer health protection acts across various regions are further propelling the growth of this market.
Pharmacovigilance is concerned with identifying the hazards associated with pharmaceutical products and minimizing the risk of any harm that may come to patients. The service helps in finding the new safety concerns and evaluating the already known risks. It also helps in keeping a watch on the benefit risk balance of a drug. Any change in the benefit risk ratio will alter the safety profile of the drug.
Global pharmacovigilance market can be segmented based on clinical trial phase, method, service provider, end-user and region. Based on service provider, the market is categorized into in-house and contract outsourcing. Among them, the contract outsourcing service provider dominated the market in 2020 and is expected to dominate the market during the forecast period owing to the fact that it eliminates the risk of business overhead costs and is thus, being increasingly adopted by healthcare companies
Regionally, Asia-Pacific dominates the market and is expected to undergo highest CAGR until 2026 owing to stringent healthcare regulations across the region. The region has also a large patient pool, which is leading to increasing number of clinical trials. Also, countries such as India and China have large clinical research spaces and offer attractive opportunities to healthcare companies.
Leading companies are focusing on research and development activities to offer better pharmacovigilance services and increase their global market share.
Objective of the Study:
To analyze and forecast the market size of global pharmacovigilance market.
To forecast global pharmacovigilance market based on clinical trial phase, method, service provider, end-user, company and regional distribution.
To identify drivers and challenges for global pharmacovigilance market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in global pharmacovigilance market.
To identify and analyze the profile of leading players operating in the global pharmacovigilance market.
Major companies operating in global pharmacovigilance market include
IBM Corporation
Accenture Plc
Linical Accelovance
Cognizant Technology Solutions Corporation
Laboratory Corporation of America Holdings
ArisGlobal LLC
ICON plc
Capgemini SE
Parexel International Corporation
Wipro Ltd
United BioSource Corporation
BioClinica Inc.
TAKE Solutions Ltd.
ITClinical
Foresight Group International AG
Report Scope:
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Global Pharmacovigilance Market, By Clinical Trial Phase
Pre-Clinical
Phase 1
Phase 2
Phase 3
Phase 4
Global Pharmacovigilance Market, By Method
Spontaneous Reporting
Intensified ADR Reporting
Targeted Spontaneous Reporting
Cohort Event Monitoring
EHR Mining
Global Pharmacovigilance Market, By Service Provider
In-House
Contract Outsourcing
Global Pharmacovigilance Market, By Process Flow
Case Data Management
Signal Detection
Risk Management System
Global Pharmacovigilance Market, By Therapeutic Area
Oncology
Neurology
Cardiology
Others
Global Pharmacovigilance Market, By End-User
Pharmaceutical & Biotechnology Companies
Medical Device Manufacturers
Others
Global Pharmacovigilance Market, By Region
Asia-Pacific
China
Japan
India
South Korea
Australia
Europe
France
Germany
United Kingdom
Italy
Spain
North America
United States
Mexico
Canada
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE
For more information about this report visit https://www.researchandmarkets.com/r/vcevd
CONTACT: CONTACT: 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