Global Pharmacovigilance Market By Clinical Trial Phase (Pre-Clinical, Phase 1, Phase 2, Phase 3, and Phase 4), By Method (Spontaneous Reporting, Intensified ADR Reporting, Targeted Spontaneous Reporting, Cohort Event Monitoring, EHR Mining), By Service Provider (In-House, Contract Outsourcing), By Process Flow (Case Data Management, Signal Detection, Risk Management System), By Therapeutic Area (

Global pharmacovigilance market is anticipated to witness double digit CAGR during the forecast period owing to the increasing drug consumption and drug developments around the globe. Growing prevalence of chronic diseases such as oncology, diabetes, and others has created the need for advanced and more effective pharmaceutical drugs. Keeping in view the chances of Adverse Drug Reactions (ADR) and drug toxicity, healthcare companies are continuously incorporating pharmacovigilance services. Moreover,

Pharmacovigilance is concerned with identifying the hazards associated with pharmaceutical products and minimizing the risk of any harm that may come to patients. The service helps in finding the new safety concerns and evaluating the already known risks. It also helps in keeping a watch on the benefit risk balance of a drug. Any change in the benefit risk ratio will alter the safety profile of the drug.

Global pharmacovigilance market can be segmented based on

Regionally, Asia-Pacific dominates the market and is expected to undergo highest CAGR until 2026 owing to stringent healthcare regulations across the region. The region has also a large patient pool, which is leading to increasing number of clinical trials. Also, countries such as India and China have large clinical research spaces and offer attractive opportunities to healthcare companies.

Major companies operating in global pharmacovigilance market include IBM Corporation, Accenture Plc, Linical Accelovance, Cognizant Technology Solutions Corporation, Laboratory Corporation of America Holdings, ArisGlobal LLC, ICON plc, Capgemini SE, Parexel International Corporation, Wipro Ltd, United BioSource Corporation, BioClinica Inc., TAKE Solutions Ltd., ITClinical, Foresight Group International AG and others. The companies are focusing on research and development activities to offer better pharmacovigilance services and increase their global market share.

Years considered for this report

Historical Years2016-2019

Base Year2020

Estimated Year2021

Forecast Period2022–2026

Objective of the Study

• To analyze and forecast the market size of global pharmacovigilance market.
• To forecast global pharmacovigilance market based on clinical trial phase, method, service provider, end-user, company and regional distribution.
• To identify drivers and challenges for global pharmacovigilance market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in global pharmacovigilance market.
• To identify and analyze the profile of leading players operating in the global pharmacovigilance market.

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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of

Market insights research calculated global pharmacovigilance market size using a bottom-up approach, where data for various end user industries and its application across various product types was recorded and forecast for the future years. Market insights research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also used by Market insights research.

Key Target Audience

• Pharmacovigilance service providers, pharmaceutical companies and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, industry associations, forums and alliances related to pharmacovigilance
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as pharmacovigilance companies, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.