Global Pharmacovigilance Market Report and Forecast 2023-2031

Abstract
Global Pharmacovigilance Market Report and Forecast 2023-2031
Global Pharmacovigilance Market Outlook
The global pharmacovigilance market value was USD 7.10 billion in 2022, driven by the rising drug consumption across the globe. The market size is anticipated to grow at a CAGR of 11.3% during the forecast period of 2023-2031 to achieve a value of USD 18.61 billion by 2031.

Pharmacovigilance: Introduction
Pharmacovigilance, also known as drug safety, refers to the collection, analysis, monitoring, and prevention of adverse effects associated with pharmaceutical products. The primary objective of pharmacovigilance is to ensure the safe and effective use of medications by identifying, evaluating, and minimizing potential risks. The global pharmacovigilance market encompasses various activities, such as adverse event reporting, signal detection, risk management, and regulatory compliance, carried out by pharmaceutical companies, contract research organizations (CROs), and regulatory agencies.
Pharmacovigilance Market Scenario
The global pharmacovigilance market has experienced significant growth in recent years, driven by factors such as the increasing prevalence of chronic diseases, rising drug consumption, growing concerns about drug safety, and stringent regulatory requirements. Moreover, the expanding drug development pipeline, increasing number of clinical trials, and the emergence of advanced pharmacovigilance technologies have contributed to the market's expansion.
North America: The largest market for pharmacovigilance, driven by factors such as the advanced healthcare infrastructure, a strong focus on research and development, and the presence of major pharmaceutical companies and CROs.
Europe: The second-largest market, with increasing demand for pharmacovigilance services due to growing concerns about drug safety and stringent regulatory requirements.
Asia-Pacific: Expected to witness the highest growth rate due to factors such as a rapidly aging population, increasing prevalence of chronic diseases, and growing investments in healthcare infrastructure.

Pharmacovigilance Market Segmentations
Market Breakup by Type
•Spontaneous Reporting
•Intensified Adverse Drug Reaction (ADR) Reporting
•Targeted Spontaneous Reporting
•Cohort Event Monitoring
•Electronic Health Record (EHR) Mining
•Others

Market Breakup by Service Provider
•In - House
•Contract Outsourcing

Market Breakup by Product Life Cycle
•Pre -Clinical
•Phase-I
•Phase -II
•Phase -III
•Phase -VI

Market Breakup by End User
•Hospitals
•Pharma and Biotech Companies
•Contract Research Organizations (CROS)
•Healthcare Providers
•Others

Market Breakup by Region

•North America
United States of America
Canada

•Europe
United Kingdom
Germany
France
Italy
Others

•Asia Pacific
China
Japan
India
ASEAN
Australia
Others

•Latin America
Brazil
Argentina
Mexico
Others

•Middle East and Africa
Saudi Arabia
United Arab Emirates
Nigeria
South Africa
Others


Key Trends in the Pharmacovigilance Market
Some key trends of the market are as follows:
•Outsourcing of pharmacovigilance activities: Pharmaceutical companies are increasingly outsourcing pharmacovigilance activities to contract research organizations (CROs) to reduce costs, streamline operations, and access specialized expertise, driving market growth.
•Adoption of advanced technologies: The integration of advanced technologies such as artificial intelligence (AI), machine learning, and data analytics has improved the efficiency and effectiveness of pharmacovigilance processes, contributing to market expansion.
•Growing emphasis on risk management and post-marketing surveillance: The increasing focus on risk management and post-marketing surveillance has led to a greater demand for pharmacovigilance services, particularly in the area of signal detection and risk evaluation.
Pharmacovigilance Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

•Drug Safety Solutions Limited
•Worldwide Clinical Trials
•Baroclinica
•United Biosource LLC, Ennov
•AB Cube France
•Covance Inc.
•Accenture
•PRA Health Sciences, Inc.
•Ergomed Plc.
•IQVIA
•Genpact
•Cognizant
•Parexel International Corporation
•ArisGlobal
•ICON plc
•Oracle
•Syneos Health

Content
Table of Contents

1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Pharmacovigilance Market Overview
3.1 Global Pharmacovigilance Market Historical Value (2016-2022)
3.2 Global Pharmacovigilance Market Forecast Value (2023-2031)
4 Global Pharmacovigilance Market Landscape
4.1 Global Pharmacovigilance Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Pharmacovigilance Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Service Provider
4.2.3 Analysis by End User
5 Global Pharmacovigilance Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Pharmacovigilance Market Segmentation
6.1 Global Pharmacovigilance Market by Type
6.1.1 Market Overview
6.1.2 Spontaneous Reporting
6.1.3 Intensified Adverse Drug Reaction (ADR) Reporting
6.1.4 Targeted Spontaneous Reporting
6.1.5 Cohort Event Monitoring
6.1.6 Electronic Health Record (EHR) Mining
6.1.7 Others
6.2 Global Pharmacovigilance Market by Service Provider
6.2.1 Market Overview
6.2.2 In - House
6.2.3 Contract Outsourcing
6.3 Global Pharmacovigilance Market by Product Life Cycle
6.3.1 Market Overview
6.3.2 Pre -Clinical
6.3.3 Phase-I
6.3.4 Phase -II
6.3.5 Phase -III
6.3.6 Phase -VI
6.4 Global Pharmacovigilance Market by End User
6.4.1 Market Overview
6.4.2 Hospitals
6.4.3 Pharma and Biotech Companies
6.4.4 Contract Research Organizations (CROS)
6.4.5 Healthcare Providers
6.4.6 Others
6.5 Global Pharmacovigilance Market by Region
6.5.1 Market Overview
6.5.2 North America
6.5.3 Europe
6.5.4 Asia Pacific
6.5.5 Latin America
6.5.6 Middle East and Africa
7 North America Pharmacovigilance Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Pharmacovigilance Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Pharmacovigilance Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Pharmacovigilance Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Pharmacovigilance Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Drug Safety Solutions Limited
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Worldwide Clinical Trials
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Baroclinica
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 United Biosource LLC, Ennov
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 AB Cube France
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Covance Inc.
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Accenture
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 PRA Health Sciences, Inc.
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Ergomed Plc.
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 IQVIA
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Genpact
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Cognizant
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 Parexel International Corporation
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
17.14 ArisGlobal
17.14.1 Financial Analysis
17.14.2 Product Portfolio
17.14.3 Demographic Reach and Achievements
17.14.4 Mergers and Acquisitions
17.14.5 Certifications
17.15 ICON plc
17.15.1 Financial Analysis
17.15.2 Product Portfolio
17.15.3 Demographic Reach and Achievements
17.15.4 Mergers and Acquisitions
17.15.5 Certifications
17.16 Oracle
17.16.1 Financial Analysis
17.16.2 Product Portfolio
17.16.3 Demographic Reach and Achievements
17.16.4 Mergers and Acquisitions
17.16.5 Certifications
17.17 Syneos Health
17.17.1 Financial Analysis
17.17.2 Product Portfolio
17.17.3 Demographic Reach and Achievements
17.17.4 Mergers and Acquisitions
17.17.5 Certifications
18 Global Pharmacovigilance Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket