Pharmacovigilance Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2021 to 2030

The global pharmacovigilance market size is forecasted to reach from US$ 8.46 billion in 2021 to US$ 16.23 billion by 2030 and is anticipated to grow at compounded annual growth rate (CAGR) of 3% from 2021 to 2030, as per reports by market research and consulting organization Precedence Research.

The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The pharmacovigilance market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). The report offers exclusive insights to help companies make informed decision to sustain growth through the assessment period.

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The medications and vaccinations have revolutionized illness prevention and treatment. Medicinal products may have side effects in addition to their advantages, some of which may be unwanted or unexpected. The pharmacovigilance is the science and practice of detecting adverse reactions to medicines and vaccines.

The rising prevalence of chronic diseases is expected to propel the market growth. The pharmacovigilance market is growing due to expanding usage of outsourcing services, increasing drug development rates, and rising drug consumption. The pharmaceutical industry’s high spending, as well as an increase in adverse drug reactions (ADRs) and prescription errors, are propelling the pharmacovigilance market growth. The non-profit organization’s growing awareness of pharmacovigilance may boost market growth.

The pharmacovigilance industry is developing due to the expiration of branded pharmaceuticals by patients and the increasing number of new drug innovations. The increased spending on oncology treatment and research, as well as ongoing need for cancer medications, are driving up demand for pharmacovigilance.

Competitive Landscape Analysis:

Some of the leading companies operating in the pharmacovigilance market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.

Major companies operating in this report are

  • ICON Plc
  • Pharmaceutical Product Development LLC
  • Parexel International Corporation
  • IQVIA
  • Quanticate
  • Bioclinica
  • Covance Inc.
  • Accenture Plc
  • IBM Corporation
  • Novartis

COVID-19 Impact

Pharmacovigilance outsourcing is attaining impetus in terms of revenue and development owing to progressions in the PV software and services. The presence of an information technology platform has paved an optimistic path for the global market. Moreover, the occurrence of COVID-19 has opened numerous prospects for the pharmaceutical companies in the invention of novel vaccines, which have instigated a number of clinical judgments. This has even opened doors to the PV market as it is the most prominent phase of any drug development course.

Key Findings

  • Phase IV or post-marketing surveillance led the global pharmacovigilance market, and this trend is expected to persist during the forecast period. The majority of industry professionals consider the drug evaluation procedure for safety to be a top priority in the post-marketing (approval) phase. Over the next few years, the category is projected to be driven by rise in public safety concerns and more competition in the pharma market.

  • In 2021, the contract outsourcing segment led the global pharmacovigilance market, in terms of type of service. Such prominence of the segment is due to pharmaceutical companies’ emphasis on boosting profitability, improving drug safety, and lowering costs of drug development. The pharmacovigilance process can be outsourced, resulting in more efficient operations and safer medicines for patients.
  • The spontaneous reporting category is likely to lead the global pharmacovigilance market, with a leading market share. The most crucial step of post-marketing surveillance of medications is spontaneous adverse drug reporting, which is critical for the preservation of drug safety data.

  • Due to the incorporation of Big Data analytics, artificial intelligence, and automation in pharmacovigilance services, North America held a large share of the global pharmacovigilance market in 2021. The existence of a well-established clinical research field and the requirement for effective drug monitoring regulations are expected to boost the regional pharmacovigilance market during the forecast period.

Segments Covered in the Report

By Clinical Trial Phase

  • Preclinical Phase I
  • Phase II
  • Phase III
  • Phase IV

By Service Provider

  • In-house
  • Contract Outsourcing

By End User

  • Hospitals
  • Pharmaceutical Companies
  • Others

By Therapeutic Area

  • Oncology
  • Neurology
  • Cardiology
  • Respiratory Systems
  • Others

By Type

  • Spontaneous Reporting
  • Intensified ADR Reporting
  • Targeted Spontaneous Reporting
  • Cohort Event Monitoring
  • EHR Mining

By Process Flow

  • Case Data Management
    • Case Logging
    • Case Data Analysis
    • Medical Reviewing & Reporting
  • Signal Detection
    • Adverse Event Logging
    • Adverse Event Analysis
    • Adverse Event Review & Reporting
  • Risk Management System
    • Risk Evaluation System
    • Risk Mitigation System

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Why should you invest in this report?

If you are aiming to enter the global pharmacovigilance market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for pharmacovigilance are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Process Flow Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Pharmacovigilance Market 

5.1. COVID-19 Landscape: Pharmacovigilance Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Pharmacovigilance Market, By Clinical Trial Phase

8.1. Pharmacovigilance Market, by Clinical Trial Phase Type, 2021-2030

8.1.1. Preclinical Phase I

8.1.1.1. Market Revenue and Forecast (2017-2030)

8.1.2. Phase II

8.1.2.1. Market Revenue and Forecast (2017-2030)

8.1.3. Phase III

8.1.3.1. Market Revenue and Forecast (2017-2030)

8.1.4. Phase IV

8.1.4.1. Market Revenue and Forecast (2017-2030)

Chapter 9. Global Pharmacovigilance Market, By Service Provider Type

9.1. Pharmacovigilance Market, by Service Provider Type, 2021-2030

9.1.1. In-house

9.1.1.1. Market Revenue and Forecast (2017-2030)

9.1.2. Contract Outsourcing

9.1.2.1. Market Revenue and Forecast (2017-2030)

Chapter 10. Global Pharmacovigilance Market, By End User

10.1. Pharmacovigilance Market, by End User Type, 2021-2030

10.1.1. Hospitals

10.1.1.1. Market Revenue and Forecast (2017-2030)

10.1.2. Pharmaceutical Companies

10.1.2.1. Market Revenue and Forecast (2017-2030)

10.1.3. Others

10.1.3.1. Market Revenue and Forecast (2017-2030)

Chapter 11. Global Pharmacovigilance Market, By Therapeutic Area

11.1. Pharmacovigilance Market, by Therapeutic Area Type, 2021-2030

11.1.1. Oncology

11.1.1.1. Market Revenue and Forecast (2017-2030)

11.1.2. Neurology

11.1.2.1. Market Revenue and Forecast (2017-2030)

11.1.3. Cardiology

11.1.3.1. Market Revenue and Forecast (2017-2030)

11.1.4. Respiratory Systems

11.1.4.1. Market Revenue and Forecast (2017-2030)

11.1.5. Others

11.1.5.1. Market Revenue and Forecast (2017-2030)

Chapter 12. Global Pharmacovigilance Market, By Type

12.1. Pharmacovigilance Market, by Type, 2021-2030

12.1.1. Spontaneous Reporting

12.1.1.1. Market Revenue and Forecast (2017-2030)

12.1.2. Intensified ADR Reporting

12.1.2.1. Market Revenue and Forecast (2017-2030)

12.1.3. Targeted Spontaneous Reporting

12.1.3.1. Market Revenue and Forecast (2017-2030)

12.1.4. Cohort Event Monitoring

12.1.4.1. Market Revenue and Forecast (2017-2030)

12.1.5. EHR Mining

12.1.5.1. Market Revenue and Forecast (2017-2030)

Chapter 13. Global Pharmacovigilance Market, By Process Flow

13.1. Pharmacovigilance Market, by Service Provider Type, 2021-2030

13.1.1. Case Data Management

13.1.1.1. Market Revenue and Forecast (2017-2030)

13.1.2. Signal Detection

13.1.2.1. Market Revenue and Forecast (2017-2030)

13.1.3. Risk Management System

13.1.3.1. Market Revenue and Forecast (2017-2030)

Chapter 14. Global Pharmacovigilance  Market, Regional Estimates and Trend Forecast

14.1. North America

14.1.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.1.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.1.3. Market Revenue and Forecast, by End User (2017-2030)

14.1.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.1.5. Market Revenue and Forecast, by Type (2017-2030)

14.1.6. Market Revenue and Forecast, by Process Flow (2017-2030)

14.1.7. U.S.

14.1.7.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.1.7.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.1.7.3. Market Revenue and Forecast, by End User (2017-2030)

14.1.7.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.1.8. Market Revenue and Forecast, by Type (2017-2030)

14.1.8.1. Market Revenue and Forecast, by Process Flow (2017-2030)

14.1.9. Rest of North America

14.1.9.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.1.9.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.1.9.3. Market Revenue and Forecast, by End User (2017-2030)

14.1.9.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.1.10. Market Revenue and Forecast, by Type (2017-2030)

14.1.11. Market Revenue and Forecast, by Process Flow (2017-2030)

14.1.11.1.

14.2. Europe

14.2.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.2.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.2.3. Market Revenue and Forecast, by End User (2017-2030)

14.2.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.2.5. Market Revenue and Forecast, by Type (2017-2030)

14.2.6. Market Revenue and Forecast, by Process Flow (2017-2030)

14.2.7.

14.2.8. UK

14.2.8.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.2.8.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.2.8.3. Market Revenue and Forecast, by End User (2017-2030)

14.2.9. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.2.10. Market Revenue and Forecast, by Type (2017-2030)

14.2.10.1. Market Revenue and Forecast, by Process Flow (2017-2030)

14.2.11. Germany

14.2.11.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.2.11.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.2.11.3. Market Revenue and Forecast, by End User (2017-2030)

14.2.12. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.2.13. Market Revenue and Forecast, by Type (2017-2030)

14.2.14. Market Revenue and Forecast, by Process Flow (2017-2030)

14.2.14.1.

14.2.15. France

14.2.15.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.2.15.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.2.15.3. Market Revenue and Forecast, by End User (2017-2030)

14.2.15.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.2.16. Market Revenue and Forecast, by Type (2017-2030)

14.2.16.1. Market Revenue and Forecast, by Process Flow (2017-2030)

14.2.17. Rest of Europe

14.2.17.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.2.17.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.2.17.3. Market Revenue and Forecast, by End User (2017-2030)

14.2.17.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.2.18. Market Revenue and Forecast, by Type (2017-2030)

14.2.18.1. Market Revenue and Forecast, by Process Flow (2017-2030)

14.3. APAC

14.3.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.3.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.3.3. Market Revenue and Forecast, by End User (2017-2030)

14.3.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.3.5. Market Revenue and Forecast, by Type (2017-2030)

14.3.6. Market Revenue and Forecast, by Process Flow (2017-2030)

14.3.7. India

14.3.7.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.3.7.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.3.7.3. Market Revenue and Forecast, by End User (2017-2030)

14.3.7.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.3.8. Market Revenue and Forecast, by Type (2017-2030)

14.3.9. Market Revenue and Forecast, by Process Flow (2017-2030)

14.3.10. China

14.3.10.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.3.10.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.3.10.3. Market Revenue and Forecast, by End User (2017-2030)

14.3.10.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.3.11. Market Revenue and Forecast, by Type (2017-2030)

14.3.11.1. Market Revenue and Forecast, by Process Flow (2017-2030)

14.3.12. Japan

14.3.12.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.3.12.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.3.12.3. Market Revenue and Forecast, by End User (2017-2030)

14.3.12.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.3.12.5. Market Revenue and Forecast, by Type (2017-2030)

14.3.12.6. Market Revenue and Forecast, by Process Flow (2017-2030)

14.3.13. Rest of APAC

14.3.13.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.3.13.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.3.13.3. Market Revenue and Forecast, by End User (2017-2030)

14.3.13.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.3.13.5. Market Revenue and Forecast, by Type (2017-2030)

14.3.13.6. Market Revenue and Forecast, by Process Flow (2017-2030)

14.4. MEA

14.4.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.4.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.4.3. Market Revenue and Forecast, by End User (2017-2030)

14.4.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.4.5. Market Revenue and Forecast, by Type (2017-2030)

14.4.6. Market Revenue and Forecast, by Process Flow (2017-2030)

14.4.7. GCC

14.4.7.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.4.7.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.4.7.3. Market Revenue and Forecast, by End User (2017-2030)

14.4.7.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.4.8. Market Revenue and Forecast, by Type (2017-2030)

14.4.9. Market Revenue and Forecast, by Process Flow (2017-2030)

14.4.10. North Africa

14.4.10.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.4.10.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.4.10.3. Market Revenue and Forecast, by End User (2017-2030)

14.4.10.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.4.11. Market Revenue and Forecast, by Type (2017-2030)

14.4.12. Market Revenue and Forecast, by Process Flow (2017-2030)

14.4.13. South Africa

14.4.13.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.4.13.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.4.13.3. Market Revenue and Forecast, by End User (2017-2030)

14.4.13.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.4.13.5. Market Revenue and Forecast, by Type (2017-2030)

14.4.13.6. Market Revenue and Forecast, by Process Flow (2017-2030)

14.4.14. Rest of MEA

14.4.14.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.4.14.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.4.14.3. Market Revenue and Forecast, by End User (2017-2030)

14.4.14.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.4.14.5. Market Revenue and Forecast, by Type (2017-2030)

14.4.14.6. Market Revenue and Forecast, by Process Flow (2017-2030)

14.5. Latin America

14.5.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.5.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.5.3. Market Revenue and Forecast, by End User (2017-2030)

14.5.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.5.5. Market Revenue and Forecast, by Type (2017-2030)

14.5.6. Market Revenue and Forecast, by Process Flow (2017-2030)

14.5.7. Brazil

14.5.7.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.5.7.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.5.7.3. Market Revenue and Forecast, by End User (2017-2030)

14.5.7.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.5.8. Market Revenue and Forecast, by Type (2017-2030)

14.5.8.1. Market Revenue and Forecast, by Process Flow (2017-2030)

14.5.9. Rest of LATAM

14.5.9.1. Market Revenue and Forecast, by Clinical Trial Phase (2017-2030)

14.5.9.2. Market Revenue and Forecast, by Service Provider (2017-2030)

14.5.9.3. Market Revenue and Forecast, by End User (2017-2030)

14.5.9.4. Market Revenue and Forecast, by Therapeutic Area (2017-2030)

14.5.9.5. Market Revenue and Forecast, by Type (2017-2030)

14.5.9.6. Market Revenue and Forecast, by Process Flow (2017-2030)

Chapter 15. Company Profiles

15.1. ICON Plc

15.1.1. Company Overview

15.1.2. Product Offerings

15.1.3. Financial Performance

15.1.4. Recent Initiatives

15.2. Pharmaceutical Product Development LLC

15.2.1. Company Overview

15.2.2. Product Offerings

15.2.3. Financial Performance

15.2.4. Recent Initiatives

15.3. Parexel International Corporation

15.3.1. Company Overview

15.3.2. Product Offerings

15.3.3. Financial Performance

15.3.4. Recent Initiatives

15.4. IQVIA

15.4.1. Company Overview

15.4.2. Product Offerings

15.4.3. Financial Performance

15.4.4. Recent Initiatives

15.5. Quanticate

15.5.1. Company Overview

15.5.2. Product Offerings

15.5.3. Financial Performance

15.5.4. Recent Initiatives

15.6. Bioclinica

15.6.1. Company Overview

15.6.2. Product Offerings

15.6.3. Financial Performance

15.6.4. Recent Initiatives

15.7. Covance Inc.

15.7.1. Company Overview

15.7.2. Product Offerings

15.7.3. Financial Performance

15.7.4. Recent Initiatives

15.8. Accenture Plc

15.8.1. Company Overview

15.8.2. Product Offerings

15.8.3. Financial Performance

15.8.4. Recent Initiatives

15.9. IBM Corporation

15.9.1. Company Overview

15.9.2. Product Offerings

15.9.3. Financial Performance

15.9.4. Recent Initiatives

15.10. Novartis

15.10.1. Company Overview

15.10.2. Product Offerings

15.10.3. Financial Performance

15.10.4. Recent Initiatives

Chapter 16. Research Methodology

16.1. Primary Research

16.2. Secondary Research

16.3. Assumptions

Chapter 17. Appendix

17.1. About Us

17.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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