The global pharmacovigilance market size is expected to reach USD 11.78 billion by 2026 and it is projected to expand at a CAGR of 13.3% during the forecast period 2019 to 2026.
Increasing incidence of Adverse Drug Reactions (ADR) is the key growth driver. The U.S. Food and Drug Administration (FDA) received approximately 253,017 serious adverse events and 44,693 deaths associated with ADRs in 2015. This shows the potential demand for implementing safety and Pharmacovigilance (PV) services.
Increasing acceptance and adoption of outsourcing services by healthcare companies will stimulate pharmacovigilance (PV) market growth in forthcoming years. Outsourcing eliminates the risk of business overhead costs as well as deployment of a pharmacovigilance resources. Outsourcing strategy increases the cost-effectiveness and efficiency by relieving resource pressure on firms. Positively shifting trends in PV outsourcing owing to increasing benefits will accelerate pharmacovigilance business growth in the coming years.
Rising number of adverse drug reactions (ADRs) will contribute to significant increase in the market size over the forecast period. According to National Centre for Biotechnology Information (NCBI), number of fatalities due to ADRs increased more than two-fold in 2014. This further led to increase in hospitalizations. Similarly, according to data by Clinics, 2018, there was 10.3% increase in ADR rate in Brazil per medication introduced during hospitalization. Such escalating number of ADRs that require continuous pharmacovigilance will render lucrative growth opportunity for pharmacovigilance market to facilitate effective surveillance of ADRs.
Accelerating demand for personalized medicines will impel momentous industry growth in the foreseeable future. Innovations in personalized medicine will offer growth potential to the market in ways to develop and quantitate risks and benefits of personalized medicines. Increasing advancement in targeted drugs such as new product development will further propel demand for pharmacovigilance services in the coming years.
Dearth of skilled healthcare professionals needed to analyse data and implement solutions can restrict market growth. Moreover, increased risk for data security that can be misused by the pharmacovigilance personnel can hamper business growth over the coming years.
Further key findings from the study suggest:
The top players in this market are Clinquest Group B.V., Accenture, Plc, Cognizant Technology Solutions, iMED Global Corporation, Covance, Inc. ICON, Plc, inVentiv Health, Inc., Pharmaceutical Product Development LLC, Parexel International Corporation, PRA Health Sciences, Inc., F. Hoffmann-La Roche Ltd., Quintiles Transnational Holdings Inc, Sanofi , Wipro Limited, and Synowledge LLC, among others.
Segmentation:
Pharmacovigilance Clinical Trial Phase Outlook (Revenue, USD Million, 2015 - 2026)
Pharmacovigilance Service Provider Outlook (Revenue, USD Million, 2015 - 2026)
Pharmacovigilance Type of Methods Outlook (Revenue, USD Million, 2015 - 2026)
Pharmacovigilance End Use Outlook (Revenue, USD Million, 2015 - 2026)
Pharmacovigilance Regional Outlook (Revenue, USD Million, 2015 - 2026)
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Pharmacovigilance Market, By Service Provider
7.1. Pharmacovigilance Market, By Service Provider, 2020-2030
7.1.1. In-house
7.1.1.1. Market Revenue and Forecast (2016-2030)
7.1.2. Contract Outsourcing
7.1.2.1. Market Revenue and Forecast (2016-2030)
Chapter 8. Global Pharmacovigilance Market, By Product Life Cycle
8.1. Pharmacovigilance Market, By Product Life Cycle, 2020-2030
8.1.1. Pre-clinical
8.1.1.1. Market Revenue and Forecast (2016-2030)
8.1.2. Phase I
8.1.2.1. Market Revenue and Forecast (2016-2030)
8.1.3. Phase II
8.1.3.1. Market Revenue and Forecast (2016-2030)
8.1.4. Phase III
8.1.4.1. Market Revenue and Forecast (2016-2030)
8.1.5. Phase IV
8.1.5.1. Market Revenue and Forecast (2016-2030)
Chapter 9. Global Pharmacovigilance Market, By Type
9.1. Pharmacovigilance Market, By Type, 2020-2030
9.1.1. Spontaneous Reporting
9.1.1.1. Market Revenue and Forecast (2016-2030)
9.1.2. Intensified ADR Reporting
9.1.2.1. Market Revenue and Forecast (2016-2030)
9.1.3. Targeted Spontaneous Reporting
9.1.3.1. Market Revenue and Forecast (2016-2030)
9.1.4. Cohort Event Monitoring
9.1.4.1. Market Revenue and Forecast (2016-2030)
9.1.5. EHR Mining
9.1.5.1. Market Revenue and Forecast (2016-2030)
Chapter 10. Global Pharmacovigilance Market, By Process Flow
10.1. Pharmacovigilance Market, By Process Flow, 2020-2030
10.1.1. Case Data Management
10.1.1.1. Market Revenue and Forecast (2016-2030)
10.1.2. Signal Detection
10.1.2.1. Market Revenue and Forecast (2016-2030)
10.1.3. Risk Management System
10.1.3.1. Market Revenue and Forecast (2016-2030)
Chapter 11. Global Pharmacovigilance Market, By Therapeutic Area
11.1. Pharmacovigilance Market, By Therapeutic Area, 2020-2030
11.1.1. Oncology
11.1.1.1. Market Revenue and Forecast (2016-2030)
11.1.2. Neurology
11.1.2.1. Market Revenue and Forecast (2016-2030)
11.1.3. Cardiology
11.1.3.1. Market Revenue and Forecast (2016-2030)
11.1.4. Respiratory Systems
11.1.4.1. Market Revenue and Forecast (2016-2030)
11.1.5. Others
11.1.5.1. Market Revenue and Forecast (2016-2030)
Chapter 12. Global Pharmacovigilance Market, By End-use
12.1. Pharmacovigilance Market, By Product Life Cycle, 2020-2030
12.1.1. Pharmaceuticals
12.1.1.1. Market Revenue and Forecast (2016-2030)
12.1.2. Biotechnology Companies
12.1.2.1. Market Revenue and Forecast (2016-2030)
12.1.3. Medical Device Manufacturers
12.1.3.1. Market Revenue and Forecast (2016-2030)
12.1.4. Other
12.1.4.1. Market Revenue and Forecast (2016-2030)
Chapter 13. Global Pharmacovigilance Market, Regional Estimates and Trend Forecast
13.1. North America
13.1.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.1.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.1.3. Market Revenue and Forecast, By Type (2016-2030)
13.1.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.1.5. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.1.6. Market Revenue and Forecast, By End-use (2016-2030)
13.1.7. U.S.
13.1.7.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.1.7.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.1.7.3. Market Revenue and Forecast, By Type (2016-2030)
13.1.7.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.1.8. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.1.8.1. Market Revenue and Forecast, By End-use (2016-2030)
13.1.9. Rest of North America
13.1.9.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.1.9.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.1.9.3. Market Revenue and Forecast, By Type (2016-2030)
13.1.9.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.1.10. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.1.11. Market Revenue and Forecast, By End-use (2016-2030)
13.1.11.1.
13.2. Europe
13.2.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.2.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.2.3. Market Revenue and Forecast, By Type (2016-2030)
13.2.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.2.5. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.2.6. Market Revenue and Forecast, By End-use (2016-2030)
13.2.7.
13.2.8. UK
13.2.8.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.2.8.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.2.8.3. Market Revenue and Forecast, By Type (2016-2030)
13.2.9. Market Revenue and Forecast, By Process Flow (2016-2030)
13.2.10. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.2.10.1. Market Revenue and Forecast, By End-use (2016-2030)
13.2.11. Germany
13.2.11.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.2.11.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.2.11.3. Market Revenue and Forecast, By Type (2016-2030)
13.2.12. Market Revenue and Forecast, By Process Flow (2016-2030)
13.2.13. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.2.14. Market Revenue and Forecast, By End-use (2016-2030)
13.2.14.1.
13.2.15. France
13.2.15.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.2.15.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.2.15.3. Market Revenue and Forecast, By Type (2016-2030)
13.2.15.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.2.16. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.2.16.1. Market Revenue and Forecast, By End-use (2016-2030)
13.2.17. Rest of Europe
13.2.17.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.2.17.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.2.17.3. Market Revenue and Forecast, By Type (2016-2030)
13.2.17.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.2.18. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.2.18.1. Market Revenue and Forecast, By End-use (2016-2030)
13.3. APAC
13.3.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.3.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.3.3. Market Revenue and Forecast, By Type (2016-2030)
13.3.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.3.5. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.3.6. Market Revenue and Forecast, By End-use (2016-2030)
13.3.7. India
13.3.7.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.3.7.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.3.7.3. Market Revenue and Forecast, By Type (2016-2030)
13.3.7.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.3.8. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.3.9. Market Revenue and Forecast, By End-use (2016-2030)
13.3.10. China
13.3.10.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.3.10.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.3.10.3. Market Revenue and Forecast, By Type (2016-2030)
13.3.10.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.3.11. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.3.11.1. Market Revenue and Forecast, By End-use (2016-2030)
13.3.12. Japan
13.3.12.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.3.12.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.3.12.3. Market Revenue and Forecast, By Type (2016-2030)
13.3.12.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.3.12.5. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.3.12.6. Market Revenue and Forecast, By End-use (2016-2030)
13.3.13. Rest of APAC
13.3.13.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.3.13.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.3.13.3. Market Revenue and Forecast, By Type (2016-2030)
13.3.13.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.3.13.5. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.3.13.6. Market Revenue and Forecast, By End-use (2016-2030)
13.4. MEA
13.4.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.4.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.4.3. Market Revenue and Forecast, By Type (2016-2030)
13.4.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.4.5. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.4.6. Market Revenue and Forecast, By End-use (2016-2030)
13.4.7. GCC
13.4.7.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.4.7.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.4.7.3. Market Revenue and Forecast, By Type (2016-2030)
13.4.7.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.4.8. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.4.9. Market Revenue and Forecast, By End-use (2016-2030)
13.4.10. North Africa
13.4.10.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.4.10.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.4.10.3. Market Revenue and Forecast, By Type (2016-2030)
13.4.10.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.4.11. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.4.12. Market Revenue and Forecast, By End-use (2016-2030)
13.4.13. South Africa
13.4.13.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.4.13.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.4.13.3. Market Revenue and Forecast, By Type (2016-2030)
13.4.13.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.4.13.5. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.4.13.6. Market Revenue and Forecast, By End-use (2016-2030)
13.4.14. Rest of MEA
13.4.14.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.4.14.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.4.14.3. Market Revenue and Forecast, By Type (2016-2030)
13.4.14.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.4.14.5. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.4.14.6. Market Revenue and Forecast, By End-use (2016-2030)
13.5. Latin America
13.5.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.5.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.5.3. Market Revenue and Forecast, By Type (2016-2030)
13.5.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.5.5. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.5.6. Market Revenue and Forecast, By End-use (2016-2030)
13.5.7. Brazil
13.5.7.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.5.7.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.5.7.3. Market Revenue and Forecast, By Type (2016-2030)
13.5.7.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.5.8. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.5.8.1. Market Revenue and Forecast, By End-use (2016-2030)
13.5.9. Rest of LATAM
13.5.9.1. Market Revenue and Forecast, By Service Provider (2016-2030)
13.5.9.2. Market Revenue and Forecast, By Product Life Cycle (2016-2030)
13.5.9.3. Market Revenue and Forecast, By Type (2016-2030)
13.5.9.4. Market Revenue and Forecast, By Process Flow (2016-2030)
13.5.9.5. Market Revenue and Forecast, By Therapeutic Area (2016-2030)
13.5.9.6. Market Revenue and Forecast, By End-use (2016-2030)
Chapter 14. Company Profiles
14.1. Accenture
14.1.1. Company Overview
14.1.2. Product Offerings
14.1.3. Financial Performance
14.1.4. Recent Initiatives
14.2. Linical Accelovance
14.2.1. Company Overview
14.2.2. Product Offerings
14.2.3. Financial Performance
14.2.4. Recent Initiatives
14.3. Cognizant
14.3.1. Company Overview
14.3.2. Product Offerings
14.3.3. Financial Performance
14.3.4. Recent Initiatives
14.4. Laboratory Corporation of America Holdings
14.4.1. Company Overview
14.4.2. Product Offerings
14.4.3. Financial Performance
14.4.4. Recent Initiatives
14.5. IBM Corporation
14.5.1. Company Overview
14.5.2. Product Offerings
14.5.3. Financial Performance
14.5.4. Recent Initiatives
14.6. ArisGlobal
14.6.1. Company Overview
14.6.2. Product Offerings
14.6.3. Financial Performance
14.6.4. Recent Initiatives
14.7. ICON plc.
14.7.1. Company Overview
14.7.2. Product Offerings
14.7.3. Financial Performance
14.7.4. Recent Initiatives
14.8. Capgemini
14.8.1. Company Overview
14.8.2. Product Offerings
14.8.3. Financial Performance
14.8.4. Recent Initiatives
14.9. ITClinical.
14.9.1. Company Overview
14.9.2. Product Offerings
14.9.3. Financial Performance
14.9.4. Recent Initiatives
14.10. FMD K&L
14.10.1. Company Overview
14.10.2. Product Offerings
14.10.3. Financial Performance
14.10.4. Recent Initiatives
14.11. IQVIA
14.11.1. Company Overview
14.11.2. Product Offerings
14.11.3. Financial Performance
14.11.4. Recent Initiatives
14.12. TAKE Solutions Ltd.
14.12.1. Company Overview
14.12.2. Product Offerings
14.12.3. Financial Performance
14.12.4. Recent Initiatives
14.13. PAREXEL International Corporation
14.13.1. Company Overview
14.13.2. Product Offerings
14.13.3. Financial Performance
14.13.4. Recent Initiatives
14.14. BioClinica Inc.
14.14.1. Company Overview
14.14.2. Product Offerings
14.14.3. Financial Performance
14.14.4. Recent Initiatives
14.15. Wipro Ltd.
14.15.1. Company Overview
14.15.2. Product Offerings
14.15.3. Financial Performance
14.15.4. Recent Initiatives
14.16. United BioSource Corporation
14.16.1. Company Overview
14.16.2. Product Offerings
14.16.3. Financial Performance
14.16.4. Recent Initiatives
Chapter 15. Research Methodology
15.1. Primary Research
15.2. Secondary Research
15.3. Assumptions
Chapter 16. Appendix
16.1. About Us
Glossary of Terms