Pharmacovigilance Market Report: Trends, Forecast and Competitive Analysis to 2030

Pharmacovigilance Trends and Forecast

The future of the global pharmacovigilance market looks promising with opportunities in the pharmaceutical, biotechnology company, and medical device manufacturer markets. The global pharmacovigilance market is expected to reach an estimated $10.2 billion by 2030 with a CAGR of 6.8% from 2024 to 2030. The major drivers for this market are increasing demand for safe and effective drugs, growing incidences of adverse drug reactions and drug toxicity, and rising prevalence of chronic diseases.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Pharmacovigilance by Segment

The study includes a forecast for the global pharmacovigilance by therapeutic area, process flow, service provider, end use, and region.

Pharmacovigilance Market by Therapeutic Area [Shipment Analysis by Value from 2018 to 2030]:

• Oncology
• Neurology
• Cardiology
• Respiratory Systems
• Others

Pharmacovigilance Market by Process Flow [Shipment Analysis by Value from 2018 to 2030]:

• Case Data Management
• Signal Detection
• Risk Management Systems

Pharmacovigilance Market by Service Provider [Shipment Analysis by Value from 2018 to 2030]:

• In-House
• Contract Outsourcing

Pharmacovigilance Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Pharmaceuticals
• Biotechnology Companies
• Medical Device Manufacturers
• Others

Pharmacovigilance Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Pharmacovigilance Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies pharmacovigilance companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the pharmacovigilance companies profiled in this report include-

• Accenture
• Cognizant
• Clinquest Group
• IBM
• ArisGlobal
• Capgemini
• ICON

Pharmacovigilance Market Insights

Lucintel forecasts that oncology will remain the largest segment over the forecast period due to growing number of research activities carried out by different biopharmaceutical companies in the field of cancer treatment.

Within this market, pharmaceutical will remain the largest segment as pharmacovigilance facilitates consumer confidence by enabling them to participate effectively in the reporting of adverse drug reactions.

North America will remain the largest region over the forecast period due to growing cases of drug abuse and existence of major players in the region.

Features of the Global Pharmacovigilance Market

Market Size Estimates: Pharmacovigilance market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Pharmacovigilance market size by various segments, such as by therapeutic area, process flow, service provider, end use, and region in terms of value ($B).

Regional Analysis: Pharmacovigilance market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different therapeutic areas, process flow, service provider, end uses, and regions for the pharmacovigilance market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the pharmacovigilance market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the pharmacovigilance market size?

Answer: The global pharmacovigilance market is expected to reach an estimated $10.2 billion by 2030.

Q2. What is the growth forecast for pharmacovigilance market?

Answer: The global pharmacovigilance market is expected to grow with a CAGR of 6.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the pharmacovigilance market?

Answer: The major drivers for this market are increasing demand for safe and effective drugs, growing incidences of adverse drug reactions and drug toxicity, and rising prevalence of chronic diseases.

Q4. What are the major segments for pharmacovigilance market?

Answer: The future of the pharmacovigilance market looks promising with opportunities in the pharmaceutical, biotechnology company, and medical device manufacturer markets.

Q5. Who are the key pharmacovigilance market companies?

Answer: Some of the key pharmacovigilance companies are as follows:

• Accenture
• Cognizant
• Clinquest Group
• IBM
• ArisGlobal
• Capgemini
• ICON

Q6. Which pharmacovigilance market segment will be the largest in future?

Answer: Lucintel forecasts that oncology will remain the largest segment over the forecast period due to growing number of research activities carried out by different biopharmaceutical companies in the field of cancer treatment.

Q7. In pharmacovigilance market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to growing cases of drug abuse and existence of major players in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the pharmacovigilance market by therapeutic area (oncology, neurology, cardiology, respiratory systems, and others), process flow (case data management, signal detection, and risk management systems), service provider (in-house and contract outsourcing), end use (pharmaceuticals, biotechnology companies, medical device manufacturers, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?