Product Code: SR112023A3609
Abstract
The global pharmacovigilance market size reached US$ 7.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.1 Billion by 2028, exhibiting a growth rate (CAGR) of 8.8% during 2022-2028.
Pharmacovigilance (PV) is the pharmacological science concerning the detection, assessment, understanding and prevention of unfavorable effects with pharmaceutical products. It plays a pivotal role in identifying previously unknown adverse effects, recognizing changes in the frequency or severity, and assessing the risks and benefits of drugs to determine required actions. It also ensures the accuracy of communicated information to healthcare professionals and patients. At present, PV is widely used to understand the effects of drugs on individuals worldwide.
Pharmacovigilance Market Trends:
The increasing prevalence of lifestyle diseases, such as hypertension, diabetes, and cardiac disorders, has resulted in the rising consumption of drugs worldwide. This, in confluence with the growing incidences of adverse drug reactions (ADRs), represents one of the key factors driving the global pharmacovigilance market. Besides this, the key players are introducing advanced platforms to ensure automated ADR reporting, which is contributing to the market growth. They are also focusing on improving the manufacturing operations and streamlining research and development (R&D) on account of a competitive environment. Furthermore, leading pharmaceutical companies are undertaking numerous initiatives to conduct clinical trials and generate awareness about the proper utilization of medicines. This, in turn, is facilitating the growth of the pharmacovigilance market. Additionally, the coronavirus disease (COVID-19) outbreak has resulted in the urgent need for a vaccine, which has created numerous opportunities for the market players. Apart from this, pharmaceutical manufacturers are shifting towards outsourcing pharmacovigilance operations to third parties on account of the associated benefits, such as increasing internal resource flexibility and better outcomes over shorter periods.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global pharmacovigilance market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service provider, product life cycle, type, process flow, therapeutic area and end use.
Breakup by Service Provider:
In-house
Contract Outsourcing
Breakup by Product Life Cycle:
Pre-clinical
Phase I
Phase II
Phase III
Phase IV
Breakup by Type:
Spontaneous Reporting
Intensified ADR Reporting
Targeted Spontaneous Reporting
Cohort Event Monitoring
EHR Mining
Breakup by Process Flow:
Case Data Management
Case Logging
Case Data Analysis
Medical Reviewing and Reporting
Signal Detection
Adverse Event Logging
Adverse Event Analysis
Adverse Event Review and Reporting
Risk Management System
Risk Evaluation System
Risk Mitigation System
Breakup by Therapeutic Area:
Oncology
Neurology
Cardiology
Respiratory Systems
Others
Breakup by End Use:
Pharmaceuticals Companies
Biotechnology Companies
Medical Device Companies
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Accenture plc, ArisGlobal LLC, BioClinica Inc. (Cinven Partners LLP), Capgemini, Cognizant, International Business Machines Corporation, ICON plc., IQVIA Inc., ITClinical, Parexel International Corporation and Wipro Limited.
Key Questions Answered in This Report:
- How has the global pharmacovigilance market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global pharmacovigilance market?
- What are the key regional markets?
- What is the breakup of the market based on the service provider?
- What is the breakup of the market based on the product life cycle?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the process flow?
- What is the breakup of the market based on the therapeutic area?
- What is the breakup of the market based on the end use?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global pharmacovigilance market and who are the key players?
- What is the degree of competition in the industry?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Pharmacovigilance Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Service Provider
- 6.1 In-house
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Contract Outsourcing
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Product Life Cycle
- 7.1 Pre-clinical
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Phase I
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Phase II
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Phase III
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Phase IV
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
8 Market Breakup by Type
- 8.1 Spontaneous Reporting
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Intensified ADR Reporting
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Targeted Spontaneous Reporting
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Cohort Event Monitoring
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 EHR Mining
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
9 Market Breakup by Process Flow
- 9.1 Case Data Management
- 9.1.1 Market Trends
- 9.1.2 Major Types
- 9.1.2.1 Case Logging
- 9.1.2.2 Case Data Analysis
- 9.1.2.3 Medical Reviewing and Reporting
- 9.1.3 Market Forecast
- 9.2 Signal Detection
- 9.2.1 Market Trends
- 9.2.2 Major Types
- 9.2.2.1 Adverse Event Logging
- 9.2.2.2 Adverse Event Analysis
- 9.2.2.3 Adverse Event Review and Reporting
- 9.2.3 Market Forecast
- 9.3 Risk Management System
- 9.3.1 Market Trends
- 9.3.2 Major Types
- 9.3.2.1 Risk Evaluation System
- 9.3.2.2 Risk Mitigation System
- 9.3.3 Market Forecast
10 Market Breakup by Therapeutic Area
- 10.1 Oncology
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 Neurology
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 Cardiology
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
- 10.4 Respiratory Systems
- 10.4.1 Market Trends
- 10.4.2 Market Forecast
- 10.5 Others
- 10.5.1 Market Trends
- 10.5.2 Market Forecast
11 Market Breakup by End Use
- 11.1 Pharmaceuticals Companies
- 11.1.1 Market Trends
- 11.1.2 Market Forecast
- 11.2 Biotechnology Companies
- 11.2.1 Market Trends
- 11.2.2 Market Forecast
- 11.3 Medical Device Companies
- 11.3.1 Market Trends
- 11.3.2 Market Forecast
- 11.4 Others
- 11.4.1 Market Trends
- 11.4.2 Market Forecast
12 Market Breakup by Region
- 12.1 North America
- 12.1.1 United States
- 12.1.1.1 Market Trends
- 12.1.1.2 Market Forecast
- 12.1.2 Canada
- 12.1.2.1 Market Trends
- 12.1.2.2 Market Forecast
- 12.2 Asia-Pacific
- 12.2.1 China
- 12.2.1.1 Market Trends
- 12.2.1.2 Market Forecast
- 12.2.2 Japan
- 12.2.2.1 Market Trends
- 12.2.2.2 Market Forecast
- 12.2.3 India
- 12.2.3.1 Market Trends
- 12.2.3.2 Market Forecast
- 12.2.4 South Korea
- 12.2.4.1 Market Trends
- 12.2.4.2 Market Forecast
- 12.2.5 Australia
- 12.2.5.1 Market Trends
- 12.2.5.2 Market Forecast
- 12.2.6 Indonesia
- 12.2.6.1 Market Trends
- 12.2.6.2 Market Forecast
- 12.2.7 Others
- 12.2.7.1 Market Trends
- 12.2.7.2 Market Forecast
- 12.3 Europe
- 12.3.1 Germany
- 12.3.1.1 Market Trends
- 12.3.1.2 Market Forecast
- 12.3.2 France
- 12.3.2.1 Market Trends
- 12.3.2.2 Market Forecast
- 12.3.3 United Kingdom
- 12.3.3.1 Market Trends
- 12.3.3.2 Market Forecast
- 12.3.4 Italy
- 12.3.4.1 Market Trends
- 12.3.4.2 Market Forecast
- 12.3.5 Spain
- 12.3.5.1 Market Trends
- 12.3.5.2 Market Forecast
- 12.3.6 Russia
- 12.3.6.1 Market Trends
- 12.3.6.2 Market Forecast
- 12.3.7 Others
- 12.3.7.1 Market Trends
- 12.3.7.2 Market Forecast
- 12.4 Latin America
- 12.4.1 Brazil
- 12.4.1.1 Market Trends
- 12.4.1.2 Market Forecast
- 12.4.2 Mexico
- 12.4.2.1 Market Trends
- 12.4.2.2 Market Forecast
- 12.4.3 Others
- 12.4.3.1 Market Trends
- 12.4.3.2 Market Forecast
- 12.5 Middle East and Africa
- 12.5.1 Market Trends
- 12.5.2 Market Breakup by Country
- 12.5.3 Market Forecast
13 SWOT Analysis
- 13.1 Overview
- 13.2 Strengths
- 13.3 Weaknesses
- 13.4 Opportunities
- 13.5 Threats
14 Value Chain Analysis
15 Porters Five Forces Analysis
- 15.1 Overview
- 15.2 Bargaining Power of Buyers
- 15.3 Bargaining Power of Suppliers
- 15.4 Degree of Competition
- 15.5 Threat of New Entrants
- 15.6 Threat of Substitutes
16 Price Analysis
17 Competitive Landscape
- 17.1 Market Structure
- 17.2 Key Players
- 17.3 Profiles of Key Players
- 17.3.1 Accenture plc
- 17.3.1.1 Company Overview
- 17.3.1.2 Product Portfolio
- 17.3.1.3 Financials
- 17.3.1.4 SWOT Analysis
- 17.3.2 ArisGlobal LLC
- 17.3.2.1 Company Overview
- 17.3.2.2 Product Portfolio
- 17.3.3 BioClinica Inc. (Cinven Partners LLP)
- 17.3.3.1 Company Overview
- 17.3.3.2 Product Portfolio
- 17.3.3.3 SWOT Analysis
- 17.3.4 Capgemini
- 17.3.4.1 Company Overview
- 17.3.4.2 Product Portfolio
- 17.3.5 Cognizant
- 17.3.5.1 Company Overview
- 17.3.5.2 Product Portfolio
- 17.3.5.3 Financials
- 17.3.5.4 SWOT Analysis
- 17.3.6 International Business Machines Corporation
- 17.3.6.1 Company Overview
- 17.3.6.2 Product Portfolio
- 17.3.6.3 Financials
- 17.3.6.4 SWOT Analysis
- 17.3.7 ICON plc.
- 17.3.7.1 Company Overview
- 17.3.7.2 Product Portfolio
- 17.3.7.3 Financials
- 17.3.7.4 SWOT Analysis
- 17.3.8 IQVIA Inc.
- 17.3.8.1 Company Overview
- 17.3.8.2 Product Portfolio
- 17.3.8.3 Financials
- 17.3.8.4 SWOT Analysis
- 17.3.9 ITClinical
- 17.3.9.1 Company Overview
- 17.3.9.2 Product Portfolio
- 17.3.10 Parexel International Corporation
- 17.3.10.1 Company Overview
- 17.3.10.2 Product Portfolio
- 17.3.10.3 SWOT Analysis
- 17.3.11 Wipro Limited
- 17.3.11.1 Company Overview
- 17.3.11.2 Product Portfolio
- 17.3.11.3 Financials
- 17.3.11.4 SWOT Analysis