DUBLIN–(BUSINESS WIRE)–The “Pharmacovigilance Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
The global pharmacovigilance market is expected to grow from $5.71 billion in 2021 to $6.64 billion in 2022 at a compound annual growth rate (CAGR) of 16.2%. The pharmacovigilance market is expected to reach $10.57 billion in 2026 at a CAGR of 12.3%.
North America was the largest region in the pharmacovigilance market in 2021. Asia Pacific is expected to be the fastest growing region in the forecast region. The regions covered in the pharmacovigilance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing incidences of adverse drug reactions are expected to propel the growth of the pharmacovigilance market going forward. An adverse drug reaction is defined as a harmful, unpleasant, or dangerous reaction resulting from the use of any medicinal product. Pharmacovigilance personnel is primarily responsible for monitoring adverse drug reactions (ADRs) in order to ensure safe drug usage and ensure drug safety prior to approval for public use.
For instance, according to United Nations Office on Drugs and Crime (UNODC) World Drug Report published in 2021, approximately 36 million persons worldwide suffered from drug use disorders in 2020, out of 275 million drug users. Therefore, the growing incidence of adverse drug reactions is promoting the growth of the pharmacovigilance market.
Technological advancements have emerged as a key trend gaining popularity in the pharmacovigilance market. Many companies operating in the pharmacovigilance sector are adopting advanced technological solutions such as Artificial intelligence (AI) to reduce cycle time, enriched quality and accuracy, scalable and futuristic solutions, improved productivity, and better compliance.
For instance, in December 2019, UCB, a Belgium-based biopharmaceutical company, and Accenture, an Ireland-based professional services company collaborated to develop a patient safety solution based on Accenture’s INTIENT Pharmacovigilance technology platform. This solution will use real-time artificial intelligence (AI), robotic process automation, and machine learning automation in the data management process, from acquiring patient information and inputs to regulatory reporting.
Scope
Markets Covered:
1) By Type: Spontaneous Reporting; Intensified ADR Reporting; Targeted Spontaneous Reporting; Cohort Event Monitoring; EHR Mining
2) By Service Provider: In-House; Contract Outsourcing
3) By Process Flow: Case Data Management; Signal Detection; Risk Management System
4) By Clinical Trial Phases: Preclinical; Phase I; Phase II; Phase III; Phase IV
5) By End User: Hospitals; Pharmaceutical Companies; Other End Users
Key Topics Covered:
1. Executive Summary
2. Pharmacovigilance Market Characteristics
3. Pharmacovigilance Market Trends And Strategies
4. Impact Of COVID-19 On Pharmacovigilance
5. Pharmacovigilance Market Size And Growth
6. Pharmacovigilance Market Segmentation
7. Pharmacovigilance Market Regional And Country Analysis
8. Asia-Pacific Pharmacovigilance Market
9. China Pharmacovigilance Market
10. India Pharmacovigilance Market
11. Japan Pharmacovigilance Market
12. Australia Pharmacovigilance Market
13. Indonesia Pharmacovigilance Market
14. South Korea Pharmacovigilance Market
15. Western Europe Pharmacovigilance Market
16. UK Pharmacovigilance Market
17. Germany Pharmacovigilance Market
18. France Pharmacovigilance Market
19. Eastern Europe Pharmacovigilance Market
20. Russia Pharmacovigilance Market
21. North America Pharmacovigilance Market
22. USA Pharmacovigilance Market
23. South America Pharmacovigilance Market
24. Brazil Pharmacovigilance Market
25. Middle East Pharmacovigilance Market
26. Africa Pharmacovigilance Market
27. Pharmacovigilance Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Pharmacovigilance Market
29. Pharmacovigilance Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- Accenture
- Cognizant
- Labcorp Drug Development
- IQVIA
- IQVIA
- Parexel International Corporation
- BioClinica Inc.
- Clinquest Inc.
- ITClinical
- TAKE Solutions Limited
- United BioSource LLC
- Wipro Limited
- Bristol-Myers Squibb Company
- Linical Americas
- iMEDGlobal
- Boehringer Ingelheim International GmbH
- Novartis AG
- Ecron Acunova Limited
- Sanofi
For more information about this report visit https://www.researchandmarkets.com/r/xzcvhs
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