DUBLIN–(BUSINESS WIRE)–The “Pharmacovigilance
Market Size, Share & Trends Analysis Report By Clinical Trial Phase
(Pre-Clinical, Phase I, II, III, IV), By Service Provider (In-House,
Contract Outsourcing), By Type, By End Use, And Segment Forecasts, 2019
– 2026” report has been added to ResearchAndMarkets.com’s
offering.
The global pharmacovigilance market size is expected to reach USD 11.64
billion by 2026. It is projected to expand at a CAGR of 13.3% during the
forecast period.
Increasing incidence of Adverse Drug Reactions (ADR) is the key growth
driver. The U.S. Food and Drug Administration (FDA) received
approximately 253,017 serious adverse events and 44,693 deaths
associated with ADRs in 2015. This shows the potential demand for
implementing safety and Pharmacovigilance (PV) services.
According to the World Health Organization’s (WHO) report on
pharmaceuticals consumption, medicines to treat chronic diseases
accounted for a larger proportion of the total volume of drug
consumption in non-hospital set ups. Owing to this, there has been a
significant rise in the number of medicines made available to healthcare
consumers. Rising demand for drugs has significantly heightened the need
for the development of novel therapeutics via extensive clinical trials,
which is expected to serve this market with lucrative opportunities.
Major pharmaceutical companies are involved in extensive R&D initiatives
for development of innovative therapeutic molecules. This has resulted
in increased drug development activities. Manufacturers are now focusing
on remodeling their product development processes in an attempt to cater
to patient needs across the globe. These factors are anticipated to fuel
the demand for pharmacovigilance services during the forecast period.
Moreover, leading pharma companies in developed countries are focusing
on outsourcing PV service in an attempt to reduce cost and to minimize
operational expenses. This is anticipated to serve as an opportunity for
contact research organizations in developing regions to gain more
revenue share.
The companies operating in the pharmacovigilance market are undertaking
strategic initiatives such as collaborations with the PV service
providers to gain access to medical information and to manage PV
workflows. For instance, In April 2017, Accenture entered in a
collaborative agreement with BioCelebrate to develop a platform for
aggregating and analyzing clinical information for improved drug
developing efficiency, thus enhancing its R&D capabilities. These
factors are anticipated to fuel the market growth.
Further key findings from the study suggest:
-
Phase IV held a dominant market share owing to the extensive post
marketing surveillance of pharmaceuticals and increasing number of ADR
incidences in the market -
Phase III is anticipated to witness lucrative CAGR owing to increasing
focus of pharmaceutical manufacturers on therapeutic development and
safety monitoring -
In service provider segment, contract outsourcing held a significant
market share, owing to shift in focus of pharmaceutical companies to
outsourcing services to reduce operational cost -
Based on type of service, spontaneous reporting held the largest
market share owing to its wide application in pharmacovigilance and
benefits such as easy simulation of data sets for better drug
comparison -
Research organizations segment is anticipated to exhibit lucrative
CAGR over the forecast period owing to increasing R&D for the
development of novel biologics and medical devices -
Asia Pacific pharmacovigilance market is anticipated to showcase
lucrative CAGR in the forthcoming years -
Industry participants are focusing on increasing R&D activities to
develop better pharmacovigilance services
Key Topics Covered
Chapter 1 Research Methodology & Scope
1.1 Market Segmentation
& Scope
1.2 Research Methodology
1.3 Information
Procurement
1.4 Information or Data Analysis
1.5 Market
Formulation & Validation
1.6 Model Details
1.7 List of
Secondary Sources
1.8 List of Primary Sources
1.9 Report
Objectives
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment
Outlook
2.3 Competitive Outlook
2.4 Pharmacovigilance Market
Summary, 2018
Chapter 3 Pharmacovigilance Market Variables, Trends & Scope
3.1
Market Lineage Outlook
3.2 Penetration & Growth Prospect Mapping
3.3
Technology Timeline Overview
3.4 Regulatory Framework
3.5
Pharmacovigilance Market Dynamics
3.6 Pharmacovigilance Market
Analysis Tools: Porters
3.7 PESTEL Analysis
3.8 Major Deals &
Strategic Alliances Analysis
Chapter 4 Pharmacovigilance Market: Competitive Analysis
4.1 Market
Participation Categorization
4.2 Public Companies
4.3 Private
Companies
Chapter 5 Pharmacovigilance Market: Product Estimates & Trend Analysis
5.1
Product Market Share Analysis, 2018 & 2026
5.2 Product Dashboard
Chapter 6 Pharmacovigilance Market: Service provider Estimates & Trend
Analysis
6.1 Service provider Market Share Analysis, 2018 & 2026
6.2
Service Provider Dashboard
6.3 In house
6.4 Contract
outsourcing
Chapter 7 Pharmacovigilance Market: Type Estimates & Trend Analysis
7.1
Type Market Share Analysis, 2018 & 2026
7.2 Type Dashboard
7.3
Spontaneous Reporting
7.4 Intensified ADR Reporting
7.5
Targeted spontaneous reporting
7.6 Cohort Event Monitoring (CEM)
7.7
EHR Mining
Chapter 8 Pharmacovigilance Market: End Use Estimates & Trend Analysis
8.1
End Use Market Share Analysis, 2018 & 2026
8.2 End Use Dashboard
8.3
Hospitals
8.4 Research organizations
8.5 Industrial
Chapter 9 Pharmacovigilance Market: Regional Estimates & Trend Analysis,
By, Product, Service Providers, Type, And End Use
9.1 Regional
Market Snapshot
9.2 Market Share Analysis by Country, 2018
9.3
North America
9.4 Europe
9.5 Asia Pacific
9.6 Latin
America
9.7 MEA
Chapter 10 Company Profiles
10.1 Accenture
10.2 Clinquest
Group B.V.
10.3 Cognizant
10.4 Laboratory Corporation of
America Holdings
10.5 IBM Corporation
10.6 ArisGlobal
10.7
ICON PLC
10.8 Capgemini
10.9 iMEDGlobal
10.10 ITClinical
10.11
Foresight Group International AG
10.12 TAKE Solutions
10.13
PAREXEL International Corporation
10.14 BioClinica Inc.
10.15
Wipro Limited
10.16 United Biosource Corporation
For more information about this report visit https://www.researchandmarkets.com/r/307iyf
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Related
Topics: Drug
Discovery, Clinical
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