• Popular
    • Medicine
    • Radiology
    • Cardiology
    • Surgery
    • Nanomedicine
    • Military Medicine
    • Rehab
  • Categories
    • Exclusive
    • A-D
      • Anesthesiology
      • Art
      • Cardiac Surgery
      • Cardiology
      • Critical Care
      • Dentistry
      • Dermatology
      • Diagnostics
    • E-I
      • Emergency Medicine
      • ENT
      • Genetics
      • Geriatrics
      • GI
      • Informatics
    • M-N
      • Medicine
      • Military Medicine
      • Nanomedicine
      • Net News
      • Neurology
      • Neurosurgery
      • Nuclear Medicine
    • O-P
      • Ob/Gyn
      • Oncology
      • Ophthalmology
      • Orthopedic Surgery
      • Pathology
      • Pediatrics
      • Plastic Surgery
      • Psychiatry
      • Public Health
    • R-V
      • Radiation Oncology
      • Radiology
      • Rehab
      • Reproductive Medicine
      • Space Medicine
      • Sports Medicine
      • Surgery
      • Thoracic Surgery
      • Urology
      • Vascular Surgery
  • SUBSCRIBE
  • Submit PR
  • About
  • Follow
    • Facebook
    • Twitter
    • Linkedin
    • Youtube
    • Instagram
    • RSS
  • Submit PR
  • Log in
Medgadget
Medgadget
  • Popular
    • Medicine
      Nanopore Sensor to Study Protein Aggregation in Neurodegeneration

      Nanopore Sensor to Study Protein Aggregation in Neurodegeneration

      Biobots Use Optogenetic Muscle Actuators for Movement

      Biobots Use Optogenetic Muscle Actuators for Movement

      Exciting Medtech at the Healthcareᐩ Expo Taiwan

      Exciting Medtech at the Healthcareᐩ Expo Taiwan

      Medgadget Visits Healthcareᐩ Expo Taiwan

      Medgadget Visits Healthcareᐩ Expo Taiwan

    • Radiology
      Ultrasound Tornado Rapidly Disrupts Blood Clots

      Ultrasound Tornado Rapidly Disrupts Blood Clots

      Exciting Medtech at the Healthcareᐩ Expo Taiwan

      Exciting Medtech at the Healthcareᐩ Expo Taiwan

      Fluorescence Imaging System Illuminates Tumor Depth

      Fluorescence Imaging System Illuminates Tumor Depth

      Soft Robot Grows Like a Plant to Travel Through Tight Spaces

      Soft Robot Grows Like a Plant to Travel Through Tight Spaces

    • Cardiology
      Belt Monitors Heart Failure Patients

      Belt Monitors Heart Failure Patients

      Camera Measures Blood Pressure with Quick Look

      Camera Measures Blood Pressure with Quick Look

      Monitoring Congestive Heart Failure Through Speech: Interview with Tamir Tal, CEO of Cordio Medical

      Monitoring Congestive Heart Failure Through Speech: Interview with Tamir Tal, CEO of Cordio Medical

      Device Measures Hemoglobin More Accurately in Dark Skin

      Device Measures Hemoglobin More Accurately in Dark Skin

    • Surgery
      Biobots Use Optogenetic Muscle Actuators for Movement

      Biobots Use Optogenetic Muscle Actuators for Movement

      Implantable Device Adheres to Muscle, Treats Atrophy

      Implantable Device Adheres to Muscle, Treats Atrophy

      Device Measures Hemoglobin More Accurately in Dark Skin

      Device Measures Hemoglobin More Accurately in Dark Skin

      Electrospun Construct Mimics Elasticity of Blood Vessels

      Electrospun Construct Mimics Elasticity of Blood Vessels

    • Nanomedicine
      Extra Hot Nanoparticles for Cancer Therapy

      Extra Hot Nanoparticles for Cancer Therapy

      Making Tumors Tastier for the Immune System

      Making Tumors Tastier for the Immune System

      Improved Membrane Coating for Anti-Cancer Nanoparticles

      Improved Membrane Coating for Anti-Cancer Nanoparticles

      Magnetic Bacteria Target Tumors

      Magnetic Bacteria Target Tumors

    • Military Medicine
      Device Measures Hemoglobin More Accurately in Dark Skin

      Device Measures Hemoglobin More Accurately in Dark Skin

      Fingertip Sensor Measures Lithium Levels in Sweat

      Fingertip Sensor Measures Lithium Levels in Sweat

      Fabric Makes Electricity from Movement to Power Wearables

      Fabric Makes Electricity from Movement to Power Wearables

      Wearable Uses Microneedles to Track Metabolism

      Wearable Uses Microneedles to Track Metabolism

    • Rehab
      Smart Walking Stick for Visually Impaired People

      Smart Walking Stick for Visually Impaired People

      Implantable Device Adheres to Muscle, Treats Atrophy

      Implantable Device Adheres to Muscle, Treats Atrophy

      Non-Invasive Spinal Modulation for Cerebral Palsy

      Non-Invasive Spinal Modulation for Cerebral Palsy

      Implanted Magnets for Prosthetic Control

      Implanted Magnets for Prosthetic Control

  • Categories
    • Exclusive
    • A-D
      • Anesthesiology
      • Art
      • Cardiac Surgery
      • Cardiology
      • Critical Care
      • Dentistry
      • Dermatology
      • Diagnostics
    • E-I
      • Emergency Medicine
      • ENT
      • Genetics
      • Geriatrics
      • GI
      • Informatics
    • M-N
      • Medicine
      • Military Medicine
      • Nanomedicine
      • Net News
      • Neurology
      • Neurosurgery
      • Nuclear Medicine
    • O-P
      • Ob/Gyn
      • Oncology
      • Ophthalmology
      • Orthopedic Surgery
      • Pathology
      • Pediatrics
      • Plastic Surgery
      • Psychiatry
      • Public Health
    • R-V
      • Radiation Oncology
      • Radiology
      • Rehab
      • Reproductive Medicine
      • Space Medicine
      • Sports Medicine
      • Surgery
      • Thoracic Surgery
      • Urology
      • Vascular Surgery
  • SUBSCRIBE
  • Submit PR
  • About
  • Log in
  • Submit PR
  • Follow
    • Facebook
    • Twitter
    • Linkedin
    • Youtube
    • Instagram
    • RSS

Global Pharmacovigilance Market Exhibit to Grow at a CAGR of 12.43% During 2019-2026 – Top Players are Cognizant, Accenture, Foresight Group International AG, IBM Corporation and Other

February 8th, 2021 Wise Guy Research Consultants Pvt. Ltd. Releases

This report studies about the Global Pharmacovigilance Market Overview.

Pharmacovigilance (PV) refers to the science and activities associated with detection, understanding, assessment, and prevention of adverse effects or any other drug-related problem. The focus of pharmacovigilance is on ADR (adverse drug reactions) and drug toxicity. The global pharmacovigilance market, growing at a CAGR of 12.43 % during the forecast period (2019-2026).

Pharmacovigilance Market Dynamics

The global phenylketonuria (PKU) treatment market is growing due to factors such as rising incidence rates of adverse drug reactions, increasing drug consumption, and outsourcing of pharmacovigilance services.

The rising incidences of lifestyle diseases, such as hypertension, cardiac disorders, and diabetes caused by sedentary lifestyles, changing lifestyle patterns, lack of physical activities and poor diets, leads to high consumption of drugs. Increasing consumption of drugs leads to high demand for monitoring of drugs, thus boosting the growth of the pharmacovigilance market.

In addition, increasing adverse drug reactions (ADRs) is also driving the growth of the market during the forecast period. According to the National Centre for Biotechnology Information (NCBI), the number of fatalities due to ADRs has increased twice more than in 2017, which led to rise in hospitalizations. Also, in 2018, there was 10% increase in ADR rate in Brazil per medication introduced during hospitalization. Thus, rising number of ADRs needs continuous pharmacovigilance, hence driving the market growth.

The pharmaceutical companies are investing heavily in the R&D of new drugs to enhance the patients’ health and quality of life. For instance, Astra, a pharmaceutical company has more than 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. Hence, increasing advancement in developemnt of drugs is expected to drive the growth of the pharmacovigilance market during the forecast period.

However, lack of skilled healthcare professionals and high risk for data security that can be misused by the pharmacovigilance personnel are some of the factors hampering the growth of the market.

Get Free Sample Report: https://www.wiseguyreports.com/sample-request/5036662-global-pharmacovigilance-market-2019-2026

Pharmacovigilance Market Segment Analysis

On the basis of service provider, the pharmacovigilance market is segmented into outsourcing and in-house pharmacovigilance. Among these, the outsourcing pharmacovigilance accounted for the largest market share share in in 2018, owing to cost-effectivity and better monitoring of drug safety. Outsourcing eliminates the risk of business overhead costs as well as deployment of a pharmacovigilance resources. Hence, there is a positive shift in pharmacovigilance outsourcing due to more benefits such as handling of large data volume coupled with regulatory compliance which further boost the growth of the market. Increasing acceptance and adoption of outsourcing services by healthcare companies is expected to drive the growth of the pharmacovigilance market. Several small pharmaceutical companies outsource some of its drug safety work to a third-party while 85% of medium sized and 40% large size companies outsource pharmacovigilance.

By type of reporting, the market is segmented into intensified ADR reporting, spontaneous reporting, cohort event monitoring (CEM), targeted spontaneous reporting, and EHR mining. Among these, the spontaneous reporting segment is expected to hold highest market share over the forecast period, due to extensive usage in detection of new, serious, and rare ADRs and serves as an efficient and inexpensive method. Wide usage of surveillance reports generated through this method by pharmaceutical industries and regulatory authorities is also responsible for the significant market share of spontaneous reporting.

On the other hand, the cohort event monitoring (CEM) is estimated to grow at the fastest growth rate, owing to rising demand in detection of wide range of adverse clinical events. Conjugation of CEM with statistical tools and data mining systems such as longitudinal health records are responsible for the growing popularity of this segment. It serves as an active form of surveillance method which can also be used for new as well as older medicines, driving growth of this segment.

For Any query: https://www.wiseguyreports.com/enquiry/5036662-global-pharmacovigilance-market-2019-2026

Pharmacovigilance Market Geographical Analysis

North America is dominating the global pharmacovigilance market in 2018, and is expected to hold the highest market share during the forecast period (2019-2026), owing to the shifting of high costs of in-house pharmacovigilance activities to CROs. According to Journal of American Medical Association (2017), 1 out of 3 drugs in the United States have the safety issues. Hence, there is a need for modifying the current protocols for quick communication between healthcare providers and the FDA needs to be strengthened.

Pharmacovigilance Market Competitive Landscape

The global pharmacovigilance market is moderately competitive and consists of several major players. Some of the major players in the market include: Cognizant, Accenture, Foresight Group International AG, IBM Corporation, Laboratory Corporation of America Holdings, ArisGlobal, Capgemini, ICON PLC, Wipro Ltd, BioClinica, among others.

The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the pharmacovigilance market globally. For instance,

In May 2019, Lupin has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) for the Post-marketing Adverse Drug Experience (PADE) inspection, indicating successful closure of the inspection.

In January 2019, Quanticate has launched QVigilance to provide dedicated pharmacovigilance (PV) and risk management services. QVigilance will be focused on supporting small and mid-size companies transitioning from clinical trials to post-marketing and establishing compliant PV systems.

In January 2019, Iqvia has developed a SaaS safety platform designed to reduce the cost and complexity of pharmacovigilance activities and help companies add value back into their business.

In June 2018, LabCorp, a leading global life sciences company, has acquired Sciformix Corporation, a scientific process outsourcing company focused on pharmacovigilance and regulatory solutions for biopharmaceutical and medical devices clients.

Why Purchase the Report?

  • Visualize the composition of the pharmacovigilance market segmentation by service provider, type of reporting, clinical trial phase, and end-user highlighting the key commercial assets and players.
  • Identify commercial opportunities in pharmacovigilance market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of pharmacovigilance market – level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

Target Audience

  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers

 

Table of Content

  1. Global Pharmacovigilance Market Methodology and Scope
  2. Global Pharmacovigilance Market – Market Definition and Overview
  3. Global Pharmacovigilance Market – Executive Summary
  4. Global Pharmacovigilance Market – Market Dynamics
  5. Global Pharmacovigilance Market – Industry Analysis
  6. Global Pharmacovigilance Market – By Service Provider
  7. Global Pharmacovigilance Market – By Type of Reporting
  8. Global Pharmacovigilance Market – By Clinical Trial Phase
  9. Global Pharmacovigilance Market – By End-User
  10. Global Pharmacovigilance Market – By Region
  11. Global Pharmacovigilance Market – Competitive Landscape
  12. Global Pharmacovigilance Market- Company Profiles

Read Other Reports from our Database :

http://www.marketwatch.com/story/medical-instrument-kits-market-global-and-united-states-analysis-industry-growth-current-trends-and-forecast-till-2026-2021-01-04

http://www.marketwatch.com/story/carotid-artery-stents-market-global-industry-analysis-size-share-trends-growth-and-forecast-2021—2026-2021-01-04

About Us:

Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports understand how essential statistical surveying information is for your organization or association. Therefore, we have associated with the top publishers and research firms all specialized in specific domains, ensuring you will receive the most reliable and up to date research data available. We also provide COTS (Commercial off the Shelf) business sector reports as custom exploration agreeing your particular needs.

 

Contact Us:

sales@wiseguyreports.com       

Ph: +162 825 80070 (US)

Ph: +44 203 500 2763 (UK)

 

Sign up and submit a press release

Sponsored
New Clarius Power Fan HD3 Delivers a First for Handheld Ultrasound: Continuous Scanning

New Clarius Power Fan HD3 Delivers a First for Handheld Ultrasound: Continuous Scanning

Fluidx Unveils New Embolic for Neurovascular Use

Fluidx Unveils New Embolic for Neurovascular Use

Annalise.ai and Nuance Communications (a Microsoft Company) Announce Key Partnership to Improve Patient Outcomes with Workflow-Integrated AI

Annalise.ai and Nuance Communications (a Microsoft Company) Announce Key Partnership to Improve Patient Outcomes with Workflow-Integrated AI

PT Genie Unveils New Brand Identity Reflecting Company’s Transformation and Focus on the Global Future of AI and Machine Learning in Digital Healthcare

Clarius Marketplace Unlocks the Power of AI Innovation for Ultrasound Imaging

Clarius Marketplace Unlocks the Power of AI Innovation for Ultrasound Imaging

interviews & reviews
Balance Boards to Stay Active in the Offfice: Interview with Joel Heath, CEO of FluidStance 

Balance Boards to Stay Active in the Offfice: Interview with Joel Heath, CEO of FluidStance 

Exciting Medtech at the Healthcareᐩ Expo Taiwan

Exciting Medtech at the Healthcareᐩ Expo Taiwan

Medgadget Visits Healthcareᐩ Expo Taiwan

Medgadget Visits Healthcareᐩ Expo Taiwan

Diabetes Management Tech for Type II patients: Interview with Jeffrey Brewer, CEO of Bigfoot Biomedical

Diabetes Management Tech for Type II patients: Interview with Jeffrey Brewer, CEO of Bigfoot Biomedical

Monitoring Congestive Heart Failure Through Speech: Interview with Tamir Tal, CEO of Cordio Medical

Monitoring Congestive Heart Failure Through Speech: Interview with Tamir Tal, CEO of Cordio Medical

In-Office Pediatric Ear Tube Procedures: Interview with Preceptis Medical's Greg Mielke

In-Office Pediatric Ear Tube Procedures: Interview with Preceptis Medical's Greg Mielke

Symani Microsurgical Robotic System: Interview with Mark Toland, CEO of Medical Microinstruments

Symani Microsurgical Robotic System: Interview with Mark Toland, CEO of Medical Microinstruments

  • Subscribe
  • Contact us
  • Submit
  • About
  • Back to top
Medgadget

Medical technologies transform the world! Join us and see the progress in real time. At Medgadget, we report the latest technology news, interview leaders in the field, and file dispatches from medical events around the world since 2004.

  • About
  • Editorial policies
  • Contact
  • Terms of Service
  • Privacy
  • Submit press release
  • Advertise
© Medgadget, Inc. All rights reserved. | The Medical Revolution Will Be Blogged.
Please support this website by adding us to your whitelist in your ad blocker. Ads are what helps us bring you premium content! Thank you!
Posting....
  • Facebook
  • Twitter
  • LinkedIn
  • Reddit
  • Email