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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, 2020 - 2027

  • ID: 4764570
  • Report
  • February 2020
  • Region: Global
  • 170 Pages
  • Grand View Research

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FEATURED COMPANIES

  • Accenture
  • BioClinica, Inc.
  • Cognizant
  • IBM Corporation
  • IQVIA
  • Linical Accelovance
  • MORE

The global pharmacovigilance market size is expected to reach USD 13.11 billion by 2027. It is projected to expand at a CAGR of 13.2% during the forecast period. Increasing incidence of Adverse Drug Reactions (ADR) is the key growth driver. ADR imposes a substantial burden on healthcare systems and is one of the prominent causes of morbidity in developed countries. According to the National Center for Biotechnology Information (NCBI), approximately 5% of total hospitalizations in Europe each year, are due to ADR. Pharmacovigilance services play an integral role in this clinical trial phase by assisting manufacturers in identifying adverse effects associated with the drug.

According to the World Health Organization's (WHO) report on pharmaceutical consumption, medicines to treat chronic diseases accounted for a larger proportion of the total volume of drug consumption in non-hospital setups. Hence, 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.

Moreover, leading pharma companies in developed countries are focusing on outsourcing PV services 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. 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.

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 September 2019, Accenture collaborated with Bayer to implement the company's INTIENT Clinical platform to simplify and speed its drug development processes, thereby widening business. The company collaborated with BioCelebrate in 2017 to develop a platform for aggregating and analyzing clinical information for improved drug developing efficiency, thus enhancing its R&D capabilities. Such initiatives help companies maintain their market position.

Further key findings from the study suggest:

  • Phase IV held a dominant market share in 2019 owing to the extensive post-marketing surveillance of pharmaceuticals and increasing ADR incidences
  • In the service provider segment, contract outsourcing held a significant market share of around 57% in 2019, owing to the shift in focus of pharmaceutical companies toward outsourcing services to reduce operational cost
  • Based on type, spontaneous reporting held the largest revenue share in 2019, due to the wide application of the product in pharmacovigilance along with benefits such as easy simulation of data sets for better drug comparison
  • Research organizations segment is anticipated to exhibit lucrative CAGR of 13.3% 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, attributed to the availability of low-cost labor and rising number of outsourcing companies in this region
  • Market participants are focusing on increasing R&D activities to develop better pharmacovigilance services. Moreover, they are adopting strategies such as new product launch, collaborations, and mergers and acquisitions to gain competitive advantage

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FEATURED COMPANIES

  • Accenture
  • BioClinica, Inc.
  • Cognizant
  • IBM Corporation
  • IQVIA
  • Linical Accelovance
  • MORE
Chapter 1 Research Methodology & Scope
1.1 Market Segmentation & Scope
1.1.1 Segment Scope
1.1.2 Regional Scope
1.1.3 Estimates and Forecast Timeline
1.2 Research Methodology
1.3 Information Procurement
1.3.1 Purchased database:
1.3.2 Internal Database
1.3.3 Secondary sources
1.3.4 Primary Research:
1.3.5 Details of Primary Research
1.4 Information or Data Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation & Validation
1.6 Model Details
1.6.1 Commodity Flow Analysis (Model 1)
1.6.1.1 Approach 1: Commodity Flow Approach
1.7 List of Secondary Sources
1.8 List of Primary Sources
1.9 List of Abbreviations
1.10 Report Objectives

Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Outlook
2.4 Pharmacovigilance Market Summary, 2019

Chapter 3 Pharmacovigilance Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent market analysis
3.1.3 Ancillary market Analysis
3.2 Penetration & Growth Prospect Mapping
3.3 User Perspective Analysis
3.3.1 Market influencer analysis
3.4 List of Key End Users
3.5 Regulatory Framework
3.5.1 Regulatory Landscape
3.6 Technology Overview
3.6.1 Pharmacovigilance timeline analysis
3.7 Pharmacovigilance Market Dynamics
3.7.1 Market driver analysis
3.7.1.1 Growing drug consumption and drug development rates
3.7.1.2 Increasing incidence of ADR and drug toxicity
3.7.1.3 Rising trend of outsourcing pharmacovigilance services
3.7.1.4 Accelearting demand for personalised medicines
3.7.2 Market restraint analysis
3.7.2.1 Lack of skilled labor
3.7.2.2 High risk associated with data security
3.8 Industry Analysis - Porter’s
3.9 Pharmacovigilance - SWOT Analysis, by Factor (Political & Legal, Economic, Social and Technological)
3.10 Major Deals & Strategic Alliances Analysis
3.10.1 Mergers & Acquisitions
3.10.2 Product launch
3.10.3 Expansion
3.10.4 Partnership & Collaborations
3.10.5 Market Entry Strategies

Chapter 4 Pharmacovigilance Market: Competitive Analysis
4.1 Market Participation Categorization
4.2 Public Companies
4.2.1 Company market position analysis
4.2.2 Market leader
4.2.3 Innovators
4.2.4 Vendor Landscape
4.2.4.1 List of pharmacovigilance service providers
4.2.5 Company Market Share
4.2.6 Competitive Dashboard Analysis

Chapter 5 Pharmacovigilance Market: Process Flow Insights
5.1 Case data management
5.1.1 Case logging
5.1.2 Case data analytics
5.1.3 Medical reviewing and reporting
5.2 Signal detection
5.2.1 Adverse event logging
5.2.2 Adverse event analysis
5.2.3 Adverse event review & reporting
5.3 Risk management system
5.3.1 Risk evaluation
5.3.2 Risk mitigation system

Chapter 6 Pharmacovigilance Market: Product Estimates & Trend Analysis
6.1 Product Market Share Analysis, 2019 & 2027
6.2 Product Dashboard
6.2.1 Preclinical
6.2.1.1 Preclinical market estimates and forecasts, 2016 - 2027 (USD Million)
6.2.2 Phase I
6.2.2.1 Phase I market estimates and forecasts, 2016 - 2027 (USD Million)
6.2.3 Phase II
6.2.3.1 Phase II market estimates and forecasts, 2016 - 2027 (USD Million)
6.2.4 Phase III
6.2.4.1 Phase III market estimates and forecasts, 2016 - 2027(USD Million)
6.2.5 Phase IV
6.2.5.1 Phase IV market estimates and forecasts, 2016 - 2027 (USD Million)

Chapter 7 Pharmacovigilance Market: Service provider Estimates & Trend Analysis
7.1 Service provider Market Share Analysis, 2019 & 2027
7.2 Service Provider Dashboard
7.3 In house
7.3.1 In house market estimates and forecasts, 2016 - 2027 (USD Million)
7.4 Contract outsourcing
7.4.1 Contract outsourcing market estimates and forecasts, 2016 - 2027 (USD Million)

Chapter 8 Pharmacovigilance Market: Type Estimates & Trend Analysis
8.1 Type Market Share Analysis, 2019 & 2027
8.2 Type Dashboard
8.3 Spontaneous Reporting
8.3.1 Spontaneous Reporting market estimates and forecasts, 2016 - 2027 (USD Million)
8.4 Intensified ADR Reporting
8.4.1 Intensified ADR Reporting market estimates and forecasts, 2016 - 2027 (USD Million)
8.5 Targeted spontaneous reporting
8.5.1 Targeted spontaneous reporting market estimates and forecasts, 2016 - 2027 (USD Million)
8.6 Cohort Event Monitoring (CEM)
8.6.1 Cohort Event Monitoring (CEM) market estimates and forecasts, 2016 - 2027 (USD Million)
8.7 EHR Mining
8.7.1 EHR Mining market estimates and forecasts, 2016 - 2027 (USD Million)

Chapter 9 Pharmacovigilance Market: End-Use Estimates & Trend Analysis
9.1 End-Use Market Share Analysis, 2019 & 2027
9.2 End-Use Dashboard
9.3 Hospitals
9.3.1 Hospitals market estimates and forecasts, 2016 - 2027 (USD Million)
9.4 Research organizations
9.4.1 Research organizations market estimates and forecasts, 2016 - 2027 (USD Million)
9.5 Industrial
9.5.1 Industrial market estimates and forecasts, 2016 - 2027 (USD Million)

Chapter 10 Pharmacovigilance Market: Regional Estimates & Trend Analysis, by, Product, Service Providers, Type, and End-Use
10.1 Regional Market Share Analysis, 2019 & 2027
10.2 Regional Market Dashboard
10.3 Regional Market Snapshot
10.4 Market Share Analysis by Country, 2019
10.4.1 North America
10.4.2 Europe
10.4.3 Asia Pacific
10.4.4 Latin America
10.4.5 MEA
10.5 North America
10.5.1 North America Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.5.2 U.S.
10.5.2.1 U.S. Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.5.3 Canada
10.5.3.1 Canada Pharmacovigilance market estimates and forecasts, 2016 - 2027(USD Million)
10.6 Europe
10.6.1 Europe Pharmacovigilance MARKET estimates and forecasts, 2016 - 2027 (USD Million)
10.6.2 U.K.
10.6.2.1 U.K. Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.6.3 Germany
10.6.3.1 Germany Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.6.4 France
10.6.4.1 France Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.6.5 Italy
10.6.5.1 Italy Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.6.6 Spain
10.6.6.1 Spain Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.6.7 Russia
10.6.7.1 Russia Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.7 Asia Pacific
10.7.1 Asia Pacific Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.7.2 Japan
10.7.2.1 Japan Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.7.3 China
10.7.3.1 China Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.7.4 India
10.7.4.1 India Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.8 Latin America
10.8.1 Latin America Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.8.2 Mexico
10.8.2.1 Mexico Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.8.3 Brazil
10.8.3.1 Brazil Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.9 MEA
10.9.1 MEA Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.9.2 South Africa
10.9.2.1 South Africa Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)
10.9.3 Saudi Arabia
10.9.3.1 Saudi Arabia Pharmacovigilance market estimates and forecasts, 2016 - 2027 (USD Million)

Chapter 11 Company Profiles
11.1 Accenture
11.1.1 Company overview
11.1.2 Financial performance
11.1.3 Strategic initiatives
11.2 Linical Accelovance
11.2.1 Company overview
11.2.2 Product benchmarking
11.2.3 Strategic initiatives
11.3 Cognizant
11.3.1 Company overview
11.3.2 Financial Performance
11.3.3 Product benchmarking
11.3.4 Strategic initiatives
11.4 Laboratory Corporation of America Holdings
11.4.1 Company overview
11.4.2 Financial Performance
11.4.3 Product benchmarking
11.4.4 Strategic initiatives
11.5 IBM Corporation
11.5.1 Company overview
11.5.2 Financial Performance
11.5.3 Product benchmarking
11.5.4 Strategic initiatives
11.6 ArisGlobal
11.6.1 Company overview
11.6.2 Financial Performance
11.6.3 Product benchmarking
11.6.4 Strategic initiatives
11.7 ICON Plc
11.7.1 Company overview
11.7.2 Product benchmarking
11.8 Capgemini
11.8.1 Company overview
11.8.2 Financial Performance
11.8.3 Product benchmarking
11.8.4 Strategic initiatives
11.9 FMD K&L
11.9.1 Company overview
11.9.2 Financial performance
11.9.3 Product benchmarking
11.9.4 Strategic initiatives
11.10 IT Clinical
11.10.1 Company overview
11.10.2 Financial performance
11.10.3 Product benchmarking
11.10.4 Strategic initiatives
11.11 IQVIA
11.11.1 Company overview
11.11.2 Financial performance
11.11.3 Product benchmarking
11.11.4 Strategic initiatives
11.12 TAKE Solutions
11.12.1 Company overview
11.12.2 Financial performance
11.12.3 Product benchmarking
11.12.4 Strategic initiatives
11.13 PAREXEL International Corporation
11.13.1 Company overview
11.13.2 Financial performance
11.13.3 Product benchmarking
11.13.4 Strategic initiatives
11.14 BioClinica, Inc.
11.14.1 Company overview
11.14.2 Financial performance
11.14.3 Product benchmarking
11.14.4 Strategic initiatives
11.15 Wipro Limited
11.15.1 Company overview
11.15.2 Financial performance
11.15.3 Product benchmarking
11.15.4 Strategic initiatives
11.16 United BioSource Corporation
11.16.1 Company overview
11.16.2 Financial performance
11.16.3 Product benchmarking
11.16.4 Strategic initiatives


*Full List of Tables and Figures Available on Enquiry.
Note: Product cover images may vary from those shown
  • Accenture
  • Linical Accelovance
  • Cognizant
  • Laboratory Corporation of America Holdings
  • IBM Corporation
  • ArisGlobal
  • ICON Plc
  • Capgemini
  • FMD K&L
  • IT Clinical
  • IQVIA
  • TAKE Solutions
  • PAREXEL International Corporation
  • BioClinica, Inc.
  • Wipro Limited
  • United BioSource Corporation
Note: Product cover images may vary from those shown

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