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Report Snapshots
Global Pharmacovigilance Market- Opportunity & Forecast Analysis, 2027

Global Pharmacovigilance Market Size By Clinical Trial Phase (Preclinical, Phase I, Phase II, Phase III, Phase IV), By Service Provider (In-house, Contract Outsourcing), By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America), Forecast & Opportunities, 2015-2027

Product Overview:

Pharmacovigilance Marketprimarily consists ofvarious pharmacovigilance services provided by in-house pharmacovigilance department and contract outsourcing agencies. Pharmacovigilance is the process that involves detection, assessment and prevention of adverse drug effects or other drug-related problems. Increasing incidence of adverse drugs effects is majorly responsible for rising demand for various pharmacovigilance services in the industry. Stringent regulation related to drug safety approval and increasing efforts to curb adverse side effects on patient are some primary drivers responsible for rising demand. Due to stringent regulation, pharmaceutical companies are keener on safety and efficacy than ever before, therefore putting more time and money on pharmacovigilance.

Marker Overview:

  • Global Pharmacovigilance Market is projected to expand with a CAGR of 10.8% during the forecast timeline, 2019 to 2027. 
  • The Pharmacovigilance market valued over USD 4.5billion in 2018 and is poisedto expand with a CAGR of over 10.8% during the forecast period to reach a market value over USD 9 billion by the end of 2027
  • Phase 4 clinical trials in Pharmacovigilance market account for majority of market share, in fact, in 2019, the phase 4 Pharmacovigilance market valued nearly USD 3 billion and will continue to dominate the market over the forecast period.
  • Phase 2 clinical trials examine side effects, drug administration and maximum tolerance dose. The phase 2 clinical trials pharmacovigilance market is set to expand with a CAGR of over 10% during the forecast period.
  • Pharmacovigilance outsourcing market occupies larger share than in-house pharmacovigilance, accounting for more than 60% of market share. The in-house pharmacovigilance market valued over USD 2 billion in 2019, and is estimated to expand with a CAGR of over 9% during the forecast timeframe.
  • In 2018, Asia PacificPharmacovigilance market accounted for the largest share of the global Pharmacovigilance market. Accounting for more than 50% market share, the market in this region is driven by demand from China and IndiaPharmacovigilance market.
  • IndiaPharmacovigilance market is expected to grow at a fastest CAGR of over 12% over the forecast timeframe. Currently accounting for more than 20% market share in Asia Pacific market, India pharmacovigilance market will continue growing faster than any other market place in the region

Research Scope:

On the basis of type , the Pharmacovigilance Market is segmented into; Clinical Trial Phase (Preclinical, Phase I, Phase II, Phase III, Phase IV), By Service Provider (In-house, Contract Outsourcing),. Finally, the market is segmented into region wise which includes North America, Europe, and Asia Pacific, Middle East & Africa and Latin America and their respective countries.

Years considered for this report:

  • Historical Years: 2015 – 2018
  • Base Year: 2019
  • Forecast Period: 2020 – 2027

Research Methodology

The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Extensive secondary research was conducted using paid data sources including Bloomberg, Factiva, Capital IQ, OneSource, and Hoovers. Additionally, several publicly-available data sources were used including journals, statistics articles, and industry associations. These data sources were used to gather relevant information to develop an understanding of the market. The research was conducted covering the desk research and primary research. Data sources used for primary research included online forums and blogs, CATI/CAWI, CAPI interviews, and video conferences. Additionally, interviews were conducted through connecting with various industry respondents including C-level executives, directors, divisional heads, regional heads, expert consultants, and independent consultants.

Primary research involves telephonic interviews, e-mail interactions and face-to-face interviews for detailed and unbiased reviews on the air purifier market across geographies. Primary interviews are usually conducted on an on-going basis with industry experts and participants in order to get the latest market insights and validate the existing data and analysis. Primary interviews offer information on important factors such as market trends, market size, competitive landscape, growth trends, and outlook. These factors help to validate and strengthen secondary research findings and also help to develop the analysis team’s expertise and market understanding.

Competitive Market Players:

The Pharmacovigilance Market is dominated by the presence of a few key players operating globally, which includeTCS, Infosys, Accenture, IQVIA (Quintiles IMS), Cognizant, IBM Corporation, InVentiv Health Clinical, PAREXEL and ICON. There is presence of other small and medium industry participants striving to gain market share.

Key Questions Answered in this Report:

  • What is the global Pharmacovigilance market size in terms of revenue from 2014-2027, and what is the expected growth rate during the forecast period 2019-2027? 
  • What is the revenue generated by different types of Pharmacovigilance at a global and regional level?
  • What is the revenue generated by Pharmacovigilance based on different segments at a global and regional level?
  • What is the revenue generated by Pharmacovigilance based on different end users at a global and regional level?
  • What is the market size and what are the various market opportunities of Pharmacovigilance across different regions?
  • What are the major driving forces that are expected to increase the demand for the Pharmacovigilance market during the forecast period?
  • What are the major challenges inhibiting the growth of the global Pharmacovigilance market?
  • Which are the major stakeholders in terms of their contribution and impact in the Pharmacovigilance ecosystem?
  • What type of new strategies is adopted by the existing market players to expand their market position in the industry?
  • What is the regulatory landscape in different regions for Pharmacovigilance ecosystem?
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