Global Pharmacovigilance Market Analysis Report and Forecasts 2020 - ResearchAndMarkets.com

DUBLIN--()--The "Pharmacovigilance Market Size, Share & Trends Analysis Report by Clinical Trial Phase (Pre-Clinical, Phase I, II, III, IV), by Service Provider (In-House, Contract Outsourcing), by Type, by End Use, and Segment Forecasts, 2020" report has been added to ResearchAndMarkets.com's offering.

The global pharmacovigilance market size is expected to reach USD 13.11 billion by 2027. It is projected to expand at a CAGR of 13.2% during the forecast period. Increasing incidence of Adverse Drug Reactions (ADR) is the key growth driver. ADR imposes a substantial burden on healthcare systems and is one of the prominent causes of morbidity in developed countries. According to the National Center for Biotechnology Information (NCBI), approximately 5% of total hospitalizations in Europe each year, are due to ADR. Pharmacovigilance services play an integral role in this clinical trial phase by assisting manufacturers in identifying adverse effects associated with the drug.

According to the World Health Organization's (WHO) report on pharmaceutical consumption, medicines to treat chronic diseases accounted for a larger proportion of the total volume of drug consumption in non-hospital setups. Hence, there has been a significant rise in the number of medicines made available to healthcare consumers. Rising demand for drugs has significantly heightened the need for the development of novel therapeutics via extensive clinical trials, which is expected to serve this market with lucrative opportunities.

Moreover, leading pharma companies in developed countries are focusing on outsourcing PV services to reduce cost and to minimize operational expenses. This is anticipated to serve as an opportunity for contact research organizations in developing regions to gain more revenue share. Manufacturers are now focusing on remodeling their product development processes in an attempt to cater to patient needs across the globe. These factors are anticipated to fuel the demand for pharmacovigilance services during the forecast period.

Key findings from the study suggest:

  • Phase IV held a dominant market share in 2019 owing to the extensive post-marketing surveillance of pharmaceuticals and increasing ADR incidences
  • In the service provider segment, contract outsourcing held a significant market share of around 57% in 2019, owing to the shift in focus of pharmaceutical companies toward outsourcing services to reduce operational cost
  • Based on type, spontaneous reporting held the largest revenue share in 2019, due to the wide application of the product in pharmacovigilance along with benefits such as easy simulation of data sets for better drug comparison
  • Research organizations segment is anticipated to exhibit lucrative CAGR of 13.3% over the forecast period owing to increasing R&D for the development of novel biologics and medical devices
  • Asia Pacific pharmacovigilance market is anticipated to showcase lucrative CAGR in the forthcoming years, attributed to the availability of low-cost labor and rising number of outsourcing companies in this region
  • Market participants are focusing on increasing R&D activities to develop better pharmacovigilance services. Moreover, they are adopting strategies such as new product launch, collaborations, and mergers and acquisitions to gain competitive advantage

Key Topics Covered:

Chapter 1 Research Methodology & Scope

Chapter 2 Executive Summary

2.1 Market Outlook

2.2 Segment Outlook

2.3 Competitive Outlook

2.4 Pharmacovigilance Market Summary, 2019

Chapter 3 Pharmacovigilance Market Variables, Trends & Scope

3.1 Market Lineage Outlook

3.2 Penetration & Growth Prospect Mapping

3.3 User Perspective Analysis

3.4 List of Key End Users

3.5 Regulatory Framework

3.6 Technology Overview

3.7 Pharmacovigilance Market Dynamics

3.8 Industry Analysis - Porter's

3.9 Pharmacovigilance - SWOT Analysis, by Factor (Political & Legal, Economic, Social and Technological)

3.10 Major Deals & Strategic Alliances Analysis

Chapter 4 Pharmacovigilance Market: Competitive Analysis

4.1 Market Participation Categorization

4.2 Public Companies

Chapter 5 Pharmacovigilance Market: Process Flow Insights

5.1 Case data management

5.2 Signal detection

5.3 Risk management system

Chapter 6 Pharmacovigilance Market: Product Estimates & Trend Analysis

6.1 Product Market Share Analysis, 2019 & 2027

6.2 Product Dashboard

Chapter 7 Pharmacovigilance Market: Service provider Estimates & Trend Analysis

7.1 Service provider Market Share Analysis, 2019 & 2027

7.2 Service Provider Dashboard

7.3 In house

7.4 Contract outsourcing

Chapter 8 Pharmacovigilance Market: Type Estimates & Trend Analysis

8.1 Type Market Share Analysis, 2019 & 2027

8.2 Type Dashboard

8.3 Spontaneous Reporting

8.4 Intensified ADR Reporting

8.5 Targeted spontaneous reporting

8.6 Cohort Event Monitoring (CEM)

8.7 EHR Mining

Chapter 9 Pharmacovigilance Market: End-Use Estimates & Trend Analysis

9.1 End-Use Market Share Analysis, 2019 & 2027

9.2 End-Use Dashboard

9.3 Hospitals

9.4 Research organizations

9.5 Industrial

Chapter 10 Pharmacovigilance Market: Regional Estimates & Trend Analysis, by, Product, Service Providers, Type, and End-Use

10.1 Regional Market Share Analysis, 2019 & 2027

10.2 Regional Market Dashboard

10.3 Regional Market Snapshot

10.4 Market Share Analysis by Country, 2019

Chapter 11 Company Profiles

  • Accenture
  • Linical Accelovance
  • Cognizant
  • Laboratory Corporation of America Holdings
  • IBM Corporation
  • ArisGlobal
  • ICON Plc
  • Capgemini
  • FMD K&L
  • IT Clinical
  • IQVIA
  • TAKE Solutions
  • PAREXEL International Corporation
  • BioClinica, Inc.
  • Wipro Limited
  • United BioSource Corporation

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900