LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Pharmacovigilance Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the pharma and healthcare industry. This report breaks down the data and analysis behind the procurement of pharmacovigilance and acts as an all-inclusive guide for making smart purchasing decisions.
“The increasing incidence of ADEs, rise in ADEs in the geriatric population, and the increase in investments by pharmaceutical companies will drive the growth of pharmacovigilance category,” says SpendEdge procurement analyst Bhuvaneshwari Udayakumar. “Also, a majority of the demand for the category comes from the pharmaceutical and biotechnology companies,” added Bhuvaneshwari.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Pharmacovigilance Market:
- M&A in buyer and supplier industries
- Rising use of eClinical solutions for data management in pharmacovigilance
- Growing use of cohort event monitoring in pharmacovigilance
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M&A in buyer and supplier industries
In the pharmacovigilance category, there has been a considerable rise in the M&A activities. This increase in the M&A activities will bring stability in the market. Also, the creation of synergies will result in cost savings for suppliers.
Rising use of eClinical solutions for data management in pharmacovigilance
In the recent years, the growing complexity and scope have increased the data generated by clinical trials exponentially. This helps the buyers in better data management and lowers the development costs. Also, it also helps the buyers reduce the go-to-market time.
Growing use of cohort event monitoring in pharmacovigilance
The pharmacovigilance is heavily dependent on the reporting of adverse events by patients and medical practitioners. The early detection of ADEs also helps the buyers take effective preventive measures to ensure patient safety.
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