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Analysis of Pharmacovigilance Market 2019-2024: Industry Trends, Share, Size, Price, Revenue, Business Strategy, Production Technology Forecast to 2024

Pharmacovigilance

The “Pharmacovigilance Market” research report 2019 delivers comprehensive information about the market ranging from the establishment to the predictable growth trend. Pharmacovigilance market report provides brief analytical data of the market contenders globally using advanced methodological approaches, such as SWOT analysis, production chain, cost, sales margin, financial details, recent developments. Pharmacovigilance market report also offers market competitors that includes detailed company profiles along with company product specifications.

Market Overview:

  • The key factors propelling this market are increasing drug consumption and drug development rates, growing incidence rates of adverse drug reactions and drug toxicity, and increasing trend of outsourcing pharmacovigilance services. The increasing incidence of lifestyle diseases, such as diabetes, hypertension, and cardiac disorders, as a result of sedentary lifestyles, lack of physical activities, changing lifestyle patterns, and poor diets lead to increasing consumption of drugs, which, in turn, indicates the high demand for drug monitoring and further fuels the growth of the pharmacovigilance market. With the growing drug consumption, the need for the regular monitoring of drugs has also augmented, eventually boosting the pharmacovigilance market. Human infectious diseases are also on rising due to the changing climate, pervasive poverty, and increasing urbanization, which also surge drug consumption and drive the drug development process. Furthermore, new drug developments need to get regulated and stimulate the overall pharmacovigilance market.

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    In Pharmacovigilance Market Report, Following Companies Are Covered:

  • Accenture
  • Cognizant
  • Laboratory Corporation of America Holdings
  • IBM Corporation
  • ArisGlobal
  • Foresight Group International AG
  • ICON PLC
  • Capgemini
  • United BioSource Corporation
  • Wipro Ltd
  • BioClinica

    Pharmacovigilance Market 2019 report will help the industry aspirants in arranging their strategies. The measurements offered in this report will be an exact and helpful manual to shape the business development. Additionally, will Provide historical data along with a future forecast and detailed analysis and also expected opportunities.

    Scope of the Report:

  • Pharmacovigilance is the science and activities relating to the detection, assessment, understanding, and prevention of adverse effects or any other drug-related problems. The focus of pharmacovigilance is on ADR (adverse drug reactions) and drug toxicity. The pharmacovigilance market comprises of all types of adverse events reporting conducted during clinical trials in hospitals, pharmacies, and other healthcare sectors.

    Reasons for Buying Pharmacovigilance Market Report:

    • This report provides pin-point analysis for changing competitive dynamics
    • It provides a forward looking perspective on different factors driving or restraining market growth
    • It provides a five-year forecast assessed on the basis of how the market is predicted to grow
    • It helps in understanding the key product segments and their future
    • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
    • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

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    Key Market Trends:

    Pharmaceutical Companies are Expected to Hold the Highest Market Share in the End User Segment

    In the end user segment of the pharmacovigilance market, pharmaceutical companies are believed to have the largest market size.

    The role of pharmaceutical companies is to invest in the R&D of new compounds, have the commitment to bring a new drug to market to enhance the patients’ health and quality of life, strict governance to conduct clinical trials, product development activities as well as conduct relations with patients and healthcare professionals in accordance with ethical and legal principles. A major pharmaceutical company, such as Astra, has over 100 permanent, experienced staff in pharmacovigilance within its R&D organization in Sweden and the United Kingdom, and a similar number in local operating companies worldwide. This development has been driven by the increased recognition of the role of pharmacovigilance, the investigation, and marketing of a wider range of diverse medicinal products and more stringent and detailed regulatory requirements.

    Such developments that are occurring in the pharmaceutical companies are helping the pharmacovigilance market grow.

    North America Dominates the Market and Expected to do Same in the Forecast Period

    North America currently dominates the market for pharmacovigilance and is expected to continue its stronghold for a few more years. Due to the shifting of high costs of in-house pharmacovigilance activities to CROs, the pharmacovigilance system in the United States is moving from a passive to a proactive role in the healthcare system. According to a 2017 publication in the Journal of American Medical Association, one out of three drugs in the United States may have the safety issues. Therefore, a need for modifying the current protocols for quick communication between healthcare providers and the FDA needs to be strengthened. Additionally, as more biosimilars would be available in the near future, accurately matching the adverse event is highly important. With that, the United States has a large market share of 56% in North America and is expected to register a growth rate of 12.3% over the forecast period.

    The Research Document Will Answer Following Questions Such as:

    • What are the cutting-edge technologies responsible for driving the growth of the market?
    • What are the main applications of the market? What are the growth prospects to the market applications into the market?
    • At what stage of development are the key market products?
    • What are the shortcomings that has to face to become commercially viable? Is their growth and commercialization dependent on cost declines or technological/application breakthroughs?
    • What is the outlook for the industry?
    • What difference does performance characteristics of Pharmacovigilance create from those of established entities?

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    Detailed TOC of Pharmacovigilance Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Increasing Drug Consumption And Drug Development Rates
    4.2.2 Growing incidence rates of ADR and drug toxicity
    4.2.3 Increasing trend of outsourcing pharmacovigilance services
    4.3 Market Restraints
    4.3.1 High risk associated with data security
    4.3.2 Lack of global regulatory harmonization and lack of data standardization for adverse event collection
    4.4 Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 Clinical Trial Phase
    5.1.1 Preclinical
    5.1.2 Phase I
    5.1.3 Phase II
    5.1.4 Phase III
    5.1.5 Phase IV
    5.2 Service Provider
    5.2.1 In house
    5.2.2 Contract Outsourcing
    5.3 Type of Reporting
    5.3.1 Spontaneous Reporting
    5.3.2 Intensified ADR Reporting
    5.3.3 Targeted Spontaneous Reporting
    5.3.4 Cohort Event Monitoring
    5.3.5 EHR Mining
    5.4 End User
    5.4.1 Hospitals
    5.4.2 Pharmaceutical Companies
    5.4.3 Other End Users
    5.5 Geography
    5.5.1 North America
    5.5.1.1 US
    5.5.1.2 Canada
    5.5.1.3 Mexico
    5.5.2 Europe
    5.5.2.1 Germany
    5.5.2.2 UK
    5.5.2.3 France
    5.5.2.4 Italy
    5.5.2.5 Spain
    5.5.2.6 Rest of Europe
    5.5.3 Asia-Pacific
    5.5.3.1 China
    5.5.3.2 Japan
    5.5.3.3 India
    5.5.3.4 Australia
    5.5.3.5 South Korea
    5.5.3.6 Rest of Asia-Pacific
    5.5.4 Middle East & Africa
    5.5.4.1 GCC
    5.5.4.2 South Africa
    5.5.4.3 Rest of Middle East & Africa
    5.5.5 South America
    5.5.5.1 Brazil
    5.5.5.2 Argentina
    5.5.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Accenture
    6.1.2 Cognizant
    6.1.3 Laboratory Corporation of America Holdings
    6.1.4 IBM Corporation
    6.1.5 ArisGlobal
    6.1.6 Foresight Group International AG
    6.1.7 ICON PLC
    6.1.8 Capgemini
    6.1.9 United BioSource Corporation
    6.1.10 Wipro Ltd
    6.1.11 BioClinica

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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