United States pharmacovigilance market is anticipated to witness rapid growth during the forecast period owing to the increasing rate of new drug developments via clinical trials. The rising cases of Adverse Drug Reaction (ADR) has further raised question on the drug safety and efficacy. This is acting as a major growth driver for pharmacovigilance market in the country. Moreover,
According to World Health Organization, pharmacovigilance is a process of detection, assessment, monitoring and prevention of adverse event related with drug related problems. It helps in finding new safety concerns and evaluating the already known risks. Pharmacovigilance helps in keeping a watch on the benefit risk balance of any drug. Any change in the benefit risk ratio will alter the safety profile of the drug.
United States pharmacovigilance market can be segmented based on
Based on service provider, the United States pharmacovigilance market is categorized into in-house and contract outsourcing. Here, the contract outsourcing service provider is poised to undergo fastest growth and dominate the market until 2025 as it eliminates the risk of business overhead costs. Additionally, the service is increasingly being adopted by several healthcare companies operating in the United States.
Major companies operating in United States pharmacovigilance market include F. Hoffmann-La Roche & Co., Laboratory Corporation of America Holdings, IBM Corporation, United BioSource Corporation, BioClinica Inc, Novatis Corporation, ArisGlobal LLC, Cognizant , Accenture, Capgemini US LLC, iGATE Corporation and iMEDGlobal Corporation, among others. The companies are increasing their market share by carrying out extensive R&D activities to offer advanced products and services.
Years considered for this report
Historical Years2015-2018
Base Year2019
Estimated Year2020
Forecast Period2021–2025
Objective of the Study
- To analyze and forecast the market size of United States pharmacovigilance market.
- To forecast United States pharmacovigilance market based on clinical trial phase, method, service provider, end-user, company and regional distribution.
- To identify drivers and challenges for United States pharmacovigilance market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in United States pharmacovigilance market.
- To identify and analyze the profile of leading players operating in the United States 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 service provider companies across the United States. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the companies which could not be identified due to the limitations of secondary research.
Market insights research calculated United States pharmacovigilance market size using a bottom-up approach, where data for various end user industries and its application across various product types were 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 provider companies, 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.
