Global Pharmacovigilance Market Size Study, by Type (Service, Software), by Deployment (In-house, Outsource), by End User (Contract Research Organizations, Pharmaceutical & Biotechnology Companies, Others), and Regional Forecasts 2022-2032

Global Pharmacovigilance Market Size Study, by Type (Service, Software), by Deployment (In-house, Outsource), by End User (Contract Research Organizations, Pharmaceutical & Biotechnology Companies, Others), and Regional Forecasts 2022-2032


Global Pharmacovigilance Market is valued at approximately USD 7.42 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 13.8% over the forecast period 2024-2032. Pharmacovigilance (PV) is a critical discipline that involves the detection, assessment, understanding, and prevention of adverse effects or any other drug-related problems. This field ensures the safety and efficacy of medications through continuous monitoring and evaluation, spanning preclinical, clinical, and post-marketing phases. By meticulously collecting, analyzing, and interpreting data from healthcare providers, patients, and regulatory authorities, PV plays a pivotal role in identifying potential risks associated with drugs. The growing number of Adverse Drug Reactions (ADRs) has underscored the need for enhanced drug safety monitoring, driving the demand for advanced PV services and technologies.

The increasing number of reported ADR cases has significantly boosted the demand for effective services to track, analyze, and manage drug safety data. For instance, Australia's Therapeutic Goods Administration reported 125,873 adverse event notifications in 2021-22, a significant increase from the previous year. This surge in ADR reporting to regulatory agencies worldwide is expected to propel the market growth.

Furthermore, pharmaceutical companies and healthcare organizations are heavily investing in PV solutions to ensure compliance, enhance patient safety, and mitigate risks associated with drug-related adverse events. The rise in R&D initiatives, decentralized clinical trials, and product launches in the drug and vaccine sectors has further fueled the need for comprehensive safety monitoring. The COVID-19 pandemic highlighted the importance of PV, with increased utilization of services and advancements in data collection for drug safety during this period. The trend continued in subsequent years, with notable growth in clinical trials and novel vaccine launches.

The adoption of artificial intelligence (AI) in PV is a prominent trend, significantly enhancing the efficiency and effectiveness of drug safety monitoring processes. AI enables rapid identification of potential adverse events from vast data sources, improving decision-making for regulatory agencies, PV professionals, and pharmaceutical companies. Major players are increasingly integrating AI-powered solutions into their service offerings, further propelling market growth.

The rising public awareness about drug safety and the potential risks associated with medications is another key driver for market expansion. Government initiatives and campaigns are playing a crucial role in educating the public and promoting the reporting of adverse drug reactions. Additionally, the increasing demand for outsourcing PV services by pharmaceutical companies is expected to drive robust market growth, as outsourcing provides access to specialized expertise and resources, reduces costs, and enhances operational efficiency. However, challenges such as inadequate funding and a shortage of skilled professionals pose significant barriers to market growth. Addressing these constraints through investment in training initiatives and sustainable funding mechanisms is essential for fostering the market's growth.

The key regions considered for the Global Pharmacovigilance Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Pharmacovigilance Market in terms of revenue. The market growth in the region is being attributed to factors including high healthcare expenditure, advanced infrastructure, and the presence of key market players. The region is expected to maintain its dominance, supported by stringent regulatory environments and the expansion of emerging players. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by supportive government initiatives, stringent regulations, and the launch of new drugs and vaccines.

Major market players included in this report are:

IQVIA Inc. (U.S.)

Laboratory Corporation of America Holdings (U.S.)

Parexel International Corporation (U.S.)

Accenture (Ireland)

Cognizant (U.S.)

Ergomed Group (U.K.)

Thermo Fisher Scientific Inc. (Pharmaceutical Product Development, LLC) (U.S.)

ICON plc. (Ireland)

Quanticate (U.K.)

Syneos Health (U.S.)

HCL Technologies Limited (India)

ProPharma Group (U.S.)

Lupin Limited (India)

Fortrea (U.S.)

Veristat (U.S.)


The detailed segments and sub-segment of the market are explained below:

By Type:

Service

Software

By Deployment:

In-house

Outsource

By End User:

Contract Research Organizations (CROs)

Pharmaceutical & Biotechnology Companies

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of Latin America


Middle East & Africa

Saudi Arabia

South Africa

RoMEA

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.

Annualized revenues and regional level analysis for each market segment.

Detailed analysis of geographical landscape with Country level analysis of major regions.

Competitive landscape with information on major players in the market.

Analysis of key business strategies and recommendations on future market approach.

Analysis of competitive structure of the market.

Demand side and supply side analysis of the market.

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.


Chapter 1. Global Pharmacovigilance Market Executive Summary
1.1. Global Pharmacovigilance Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Type
1.3.2. By Deployment
1.3.3. By End User
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Pharmacovigilance Market Definition and Research Assumptions
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Availability
2.3.3.2. Infrastructure
2.3.3.3. Regulatory Environment
2.3.3.4. Market Competition
2.3.3.5. Economic Viability (Consumer’s Perspective)
2.3.4. Demand Side Analysis
2.3.4.1. Regulatory frameworks
2.3.4.2. Technological Advancements
2.3.4.3. Environmental Considerations
2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
Chapter 3. Global Pharmacovigilance Market Dynamics
3.1. Market Drivers
3.1.1. Rise in Adverse Drug Reactions (ADRs)
3.1.2. Increased Pharmaceutical Investments in PV Solutions
3.1.3. Application of Artificial Intelligence in PV
3.2. Market Challenges
3.2.1. Inadequate Funding
3.2.2. Shortage of Skilled Professionals
3.3. Market Opportunities
3.3.1. Growing Outsourcing Practices
3.3.2. Increasing Public Awareness Initiatives
Chapter 4. Global Pharmacovigilance Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Pharmacovigilance Market Size & Forecasts by Type 2022-2032
5.1. Segment Dashboard
5.2. Global Pharmacovigilance Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
5.2.1. Service
5.2.2. Software
Chapter 6. Global Pharmacovigilance Market Size & Forecasts by Deployment 2022-2032
6.1. Segment Dashboard
6.2. Global Pharmacovigilance Market: Deployment Revenue Trend Analysis, 2022 & 2032 (USD Billion)
6.2.1. In-house
6.2.2. Outsource
Chapter 7. Global Pharmacovigilance Market Size & Forecasts by End User 2022-2032
7.1. Segment Dashboard
7.2. Global Pharmacovigilance Market: End User Revenue Trend Analysis, 2022 & 2032 (USD Billion)
7.2.1. Contract Research Organizations (CROs)
7.2.2. Pharmaceutical & Biotechnology Companies
7.2.3. Others
Chapter 8. Global Pharmacovigilance Market Size & Forecasts by Region 2022-2032
8.1. North America Pharmacovigilance Market
8.1.1. U.S. Pharmacovigilance Market
8.1.1.1. Type breakdown size & forecasts, 2022-2032
8.1.1.2. Deployment breakdown size & forecasts, 2022-2032
8.1.1.3. End User breakdown size & forecasts, 2022-2032
8.1.2. Canada Pharmacovigilance Market
8.2. Europe Pharmacovigilance Market
8.2.1. U.K. Pharmacovigilance Market
8.2.2. Germany Pharmacovigilance Market
8.2.3. France Pharmacovigilance Market
8.2.4. Spain Pharmacovigilance Market
8.2.5. Italy Pharmacovigilance Market
8.2.6. Rest of Europe Pharmacovigilance Market
8.3. Asia-Pacific Pharmacovigilance Market
8.3.1. China Pharmacovigilance Market
8.3.2. India Pharmacovigilance Market
8.3.3. Japan Pharmacovigilance Market
8.3.4. Australia Pharmacovigilance Market
8.3.5. South Korea Pharmacovigilance Market
8.3.6. Rest of Asia Pacific Pharmacovigilance Market
8.4. Latin America Pharmacovigilance Market
8.4.1. Brazil Pharmacovigilance Market
8.4.2. Mexico Pharmacovigilance Market
8.4.3. Rest of Latin America Pharmacovigilance Market
8.5. Middle East & Africa Pharmacovigilance Market
8.5.1. Saudi Arabia Pharmacovigilance Market
8.5.2. South Africa Pharmacovigilance Market
8.5.3. Rest of Middle East & Africa Pharmacovigilance Market
Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. IQVIA Inc.
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Market Strategies
9.3.2. Laboratory Corporation of America Holdings
9.3.3. Parexel International Corporation
9.3.4. Accenture
9.3.5. Cognizant
9.3.6. Ergomed Group
9.3.7. Thermo Fisher Scientific Inc. (Pharmaceutical Product Development, LLC)
9.3.8. ICON plc.
9.3.9. Quanticate
9.3.10. Syneos Health
9.3.11. HCL Technologies Limited
9.3.12. ProPharma Group
9.3.13. Lupin Limited
9.3.14. Fortrea
9.3.15. Veristat
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
List of Tables
TABLE 1. Global Pharmacovigilance Market, Report Scope
TABLE 2. Global Pharmacovigilance Market Estimates & Forecasts by Region 2022-2032 (USD Billion)
TABLE 3. Global Pharmacovigilance Market Estimates & Forecasts by Type 2022-2032 (USD Billion)
TABLE 4. Global Pharmacovigilance Market Estimates & Forecasts by Deployment 2022-2032 (USD Billion)
TABLE 5. Global Pharmacovigilance Market Estimates & Forecasts by End User 2022-2032 (USD Billion)
TABLE 6. Global Pharmacovigilance Market by Segment, Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 7. Global Pharmacovigilance Market by Region, Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 8. Global Pharmacovigilance Market by Segment, Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 9. Global Pharmacovigilance Market by Region, Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 10. Global Pharmacovigilance Market by Segment, Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 11. Global Pharmacovigilance Market by Region, Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 12. Global Pharmacovigilance Market by Segment, Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 13. Global Pharmacovigilance Market by Region, Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 14. U.S. Pharmacovigilance Market Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 15. U.S. Pharmacovigilance Market Estimates & Forecasts by Segment 2022-2032 (USD Billion)
TABLE 16. U.S. Pharmacovigilance Market Estimates & Forecasts by Segment 2022-2032 (USD Billion)
TABLE 17. Canada Pharmacovigilance Market Estimates & Forecasts, 2022-2032 (USD Billion)
TABLE 18. Canada Pharmacovigilance Market Estimates & Forecasts by Segment 2022-2032 (USD Billion)
TABLE 19. Canada Pharmacovigilance Market Estimates & Forecasts by Segment 2022-2032 (USD Billion)
This list is not complete, final report does contain more than 100 tables. The list may be updated in the final deliverable.
List of Figures
FIGURE 1. Global Pharmacovigilance Market, Research Methodology
FIGURE 2. Global Pharmacovigilance Market, Market Estimation Techniques
FIGURE 3. Global Market Size Estimates & Forecast Methods.
FIGURE 4. Global Pharmacovigilance Market, Key Trends 2023
FIGURE 5. Global Pharmacovigilance Market, Growth Prospects 2022-2032
FIGURE 6. Global Pharmacovigilance Market, Porters 5 Force Model
FIGURE 7. Global Pharmacovigilance Market, PESTEL Analysis
FIGURE 8. Global Pharmacovigilance Market, Value Chain Analysis
FIGURE 9. Global Pharmacovigilance Market by Segment, 2022 & 2032 (USD Billion)
FIGURE 10. Global Pharmacovigilance Market by Segment, 2022 & 2032 (USD Billion)
FIGURE 11. Global Pharmacovigilance Market by Segment, 2022 & 2032 (USD Billion)
FIGURE 12. Global Pharmacovigilance Market by Segment, 2022 & 2032 (USD Billion)
FIGURE 13. Global Pharmacovigilance Market by Segment, 2022 & 2032 (USD Billion)
FIGURE 14. Global Pharmacovigilance Market, Regional Snapshot 2022 & 2032
FIGURE 15. North America Pharmacovigilance Market 2022 & 2032 (USD Billion)
FIGURE 16. Europe Pharmacovigilance Market 2022 & 2032 (USD Billion)
FIGURE 17. Asia Pacific Pharmacovigilance Market 2022 & 2032 (USD Billion)
FIGURE 18. Latin America Pharmacovigilance Market 2022 & 2032 (USD Billion)
FIGURE 19. Middle East & Africa Pharmacovigilance Market 2022 & 2032 (USD Billion)
FIGURE 20. Global Pharmacovigilance Market, Company Market Share Analysis (2023)
This list is not complete, final report does contain more than 50 figures. The list may be updated in the final deliverable.

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