Pharmacovigilance - Global Market Trajectory & Analytics

Global Pharmacovigilance Market to Reach $11.8 Billion by 2027

Amid the COVID-19 crisis, the global market for Pharmacovigilance estimated at US$5.4 Billion in the year 2020, is projected to reach a revised size of US$11.8 Billion by 2027, growing at a CAGR of 11.9% over the period 2020-2027. Contract Outsourcing, one of the segments analyzed in the report, is projected to record 13.1% CAGR and reach US$7.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the In-House segment is readjusted to a revised 10% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 15.7% CAGR

The Pharmacovigilance market in the U.S. is estimated at US$1.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.6 Billion by the year 2027 trailing a CAGR of 15.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.3% and 10.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9.4% CAGR.

Select Competitors (Total 42 Featured):

• Accenture
• ArisGlobal
• BioClinica Inc.
• Capgemini
• Cognizant
• FMD K&L
• IBM Corporation
• ICON Plc
• IQVIA
• ITClinical
• Laboratory Corporation of America Holdings
• Linical Accelovance
• Parexel International Corporation
• TAKE Solutions Ltd.
• United BioSource Corporation
• Wipro Ltd.