Pharmacovigilance (PV) Market Segmentation| Revenue Driving Factors | Future Trends, 2025

Felton, Calif., USA, Oct. 13, 2020 — /EPR Network/ —

The global Pharmacovigilance (PV) Market research report provides complete insights on industry scope, global trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready, data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global Pharmacovigilance (PV) Market size is estimated to reach USD 10.27 billion by 2025, registering at a 13.1% CAGR over the forecast period as the scope and its applications are rising enormously across the globe. Pharmacovigilance (PV) is also termed as drug safety, is a science and activities relating to the prevention, detection, understanding, and assessment of adverse effects or other drug-related issues. 

Key Players: 

The key players of pharmacovigilance (PV) industry are United BioSource Corporation, Accenture, Wipro Ltd., Clinquest Group B.V., BioClinica, Cognizant, PAREXEL International Corporation, Laboratory Corporation of America Holdings, TAKE Solutions Ltd., IBM Corporation, Foresight Group International AG, ArisGlobal, and iMEDGlobal. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition. 

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Growth Drivers: 

The factors that are playing a major role in the growth of pharmacovigilance market are the rising occurrence of adverse drug reactions (ADR), enhancement in development of ADR database and information system, and the rising demand from the end-users.

Contract outsourcing, in-house, and other service providers could be explored in pharmacovigilance industry in the forecast period. Contract outsourcing sector accounted for the substantial market share of pharmacovigilance and is estimated to lead the overall market in the years to come.

Pharmacovigilance Type of Methods Outlook (Revenue, USD Million, 2014 – 2025)

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

Pharmacovigilance End Use Outlook (Revenue, USD Million, 2014 – 2025)

• Hospitals
• Research Organizations
• Industrial

Regional Insight: 

Globally, North America accounted for the substantial share of pharmacovigilance industry and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of key manufacturers in the region and the high investment in the development of new drugs. The United States and Canada are the major consumers of pharmacovigilance in the years to come.

Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of pharmacovigilance in this region.

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