Pharmacovigilance Market: Overview
The increasing occurrence of adverse drug reaction (ADR) and the
rising policies implemented by governments on drug safety regulations
globally will fuel the growth of the global pharmacovigilance market.
The market for pharmacovigilance has been growing in leaps and bounds
owing to the increasing aging population, raising the introduction of
new drugs. Furthermore, health regulatory authorities including EMEA
and the U.S. FDA are pressurizing on submission of data through
electronic mediums. This will also positively impact the growth of
the global pharmacovigilance market.
This report presents quantitative information sets and elaborates
upon the market dynamics such as the future prospects, drivers, and
challenges. The competitive analysis tools such as attractive
investment proposition have also been employed in order to present an
accurate understanding of the overall market. The top regional
segment driving the growth of the global pharmacovigilance market
also forms a key part of this study.
Everything you want to know about Pharmacovigilance Market:
In the competitive landscape section of the report, the main
sustainability strategies implemented by the leading players and
their impact on the development of the market have also been
presented. The key market regulating factors have also been detailed
under this study. Key monitoring tools such as SWOT analysis and
Porter’s five forces analysis have also been utilized in order to
provide a detailed understanding of the competition present in the
overall pharmacovigilance market.
Pharmacovigilance Market: Drivers and Restraints
The increasing awareness amongst individuals on the safe utilization
of medical interventions and medicines is amongst the key factors
providing impetus to the development of the pharmacovigilance market.
In addition, the rising count of national pharmacovigilance centers
worldwide is positively impacting the growth of the overall market
for pharmacovigilance. These centers are increasing awareness
regarding safety of drugs amongst individuals, hence catapulting
demand for pharmacovigilance.
On the other hand, the huge risk of data security and increasing
perception on benefits or harmful effects of various drugs are
amongst the key factors restraining the development of the market. In
addition, the trend of web-based sales and drug information and the
lack of skilled professionals may negatively impact the growth of the
global pharmacovigilance market.
Pharmacovigilance Market: Region-wise Outlook
On the basis of geography, the global pharmacovigilance market is
segmented into Europe, North America, Asia Pacific, and Rest of the
World (RoW). Of these, the North America pharmacovigilance market
held a significant share in the past owing to the rising mortality
rate in this region because of increasing occurrence rate of ADRS and
the growing concern on patients about the efficacy and safety of
pharmaceutical products.
Commercial Aspects of Pharmacovigilance Centers:
https://goo.gl/uINsCt
However, Asia Pacific is predicted to emerge as the most lucrative
region in the market in the coming years. This is due to the rising
demand for strict regulations on healthcare in Asia Pacific and the
large pool of patients within this region. In addition, the growing
need for effective pharmacovigilance services owing to the increasing
count of clinical trials taking place in a number of Asia Pacific
nations will also boost the development of the overall market.
Key players Mentioned in the Report are:
The top players in this market are Clinquest Group B.V., Accenture,
Plc, Cognizant Technology Solutions, iMED Global Corporation,
Covance, Inc. ICON, Plc, inVentiv Health, Inc., Pharmaceutical
Product Development LLC, Parexel International Corporation, PRA
Health Sciences, Inc., F. Hoffmann-La Roche Ltd., Quintiles
Transnational Holdings Inc, Sanofi , Wipro Limited, and Synowledge
LLC, among others.
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