Pharmacovigilance Market Size Worth USD 17.01 Billion in 2030

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Pharmacovigilance Market Size Worth USD 17.01
Billion in 2030
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Market Size USD 6.97 Billion in 2021, Market
Growth at a CAGR of 10.5, Market Trends
Cloud-based reporting of adverse drug events
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Our Model
Market Analysis
Financial Analysis
Distribution Channel Analysis
Brand Analysis
Custom Market Intelligence
Competitor Analysis
Product Analysis
Custom Research
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Demand Analysis
Risk Analysis
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Business Plan Parameters
End Use Analysis
Demand Availability Analytics
Market Entry Strategy
Restructuring Revival
New Product Strategy
Product Planning / Strategy
SWOT Analysis
Marketing / Distribution Channel Feasibility
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Customer Identification Survey
Competitive Landscape / MA Feasibility
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Industries We Cater to
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Market Summary
The global Pharmacovigilance (PV) market size was
USD 6.97 Billion in 2021 and is expected to
register a revenue CAGR of 10.5 during the
forecast period, according to latest analysis by
Emergen Research. Increasing outsourcing of
pharmacovigilance is a major factor driving
market revenue growth. Small-scale biotech and
pharmaceutical companies have a few internal
resources with expertise in safety. Modern PV
applications make it simple for businesses to
outsource safety services without sacrificing
control or data visibility. In addition, cloud
technologies drive greater collaboration and
transparency for improved coordination and
communication between pharmaceutical companies
and service providers or Clinical Research
Organizations (CROs). The amount to which a firm
has to outsource depends on a variety of
criteria, including size of the company, depth of
its pharmacovigilance and patient safety
capabilities, and nature of its current license
or research collaborations. This strategy enables
them to take use of outside knowledge while also
cutting the expense of numerous internal tasks
including hiring, managing, and training.
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Market Summary

• Some Key Highlights From the Report
• The spontaneous reporting segment accounted for a
  significant revenue share in 2021 owing to its
  relatively inexpensive method. Spontaneous
  reporting provides various built-in benefits over
  other active reporting methods. Major Adverse
  Drug Reactions (ADRs) that were missed by earlier
  trials or other pharmacovigilance techniques may
  be revealed owing to its extensive coverage.
• The contract outsourcing segment accounted for a
  significant revenue share in 2021. This is
  primarily attributed to shifting Contract
  Research Organizations (CROs), which thereby
  drives flexibility and reduces cost of in-house
  processes. Increasing preference for outsourcing
  pharmacovigilance and increasing demand for
  accessible and effective drug safety monitoring
  are other factors driving revenue growth of this
  segment. Contract outsourcing offers Standard
  Operating Procedures (SOPs) and Pharmacovigilance
  (PV) audits, enabling better handling and
  compliance with massive data. These benefits
  significantly drive revenue growth of this
  segment during the forecast period
• The North America market accounted for largest
  revenue share in 2021. Significant investments in
  healthcare facilities are a key factor driving
  market revenue growth. In addition, increasing
  cancer cases worldwide are contributing to market
  revenue growth in this region. For instance,
  according to American Cancer Society, in the
  U.S., an estimated one billion people with cancer
  were diagnosed in 2020.
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Market Summary
Emergen Research has segmented the global
pharmacovigilance market based on type, service
provider, product life cycle, end-use, and
region Type Outlook (Revenue, USD Billion
2019-2030) Spontaneous Reporting Intensified ADR
Reporting Targeted Spontaneous Reporting Cohort
Event Monitoring Electronic Health Record (EHR)
Mining Service Provider Outlook (Revenue, USD
Billion 2019-2030) In-house Contract
Outsourcing Read More_at_ https//www.emergenresearc
h.com/industry-report/pharmacovigilance-market
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Parameter Details
Market Size Estimation Period 2021-2030
Base Year Considered 2021
Historical Data 2019-2020
Forecast Period 2022-2030
Quantitative Units Revenue in USD million CAGR from 2021 to 2028
Segments Covered Types, Application, End-Users, Regions more.
Countries Included The U.S., Germany, U.K., Italy, China, India, Japan, Brazil
Report Coverage Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
Regions Scope North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Customization Scope 10 hours of free customization expert consultation
Pricing and Purchase Options Explore Different Purchase Options Request for Discount to Avail New Year Discount
MARKET SEGMENTATION
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Regional Share Dynamics
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