The global pharmacovigilance market size was US$ 2.5 billion in 2014 and is projected to register a compound annual growth rate (CAGR) of 13% during the forecast period. The increasing need of pharmacovigilance owing to rising prevalence of adverse drug reaction is a major factor driving the market. In addition, the rise in the intricacy of drug safety regulation by government and the growing demand from the paints & coatings industry are expected to fuel the growth of the market.
In this report, the global pharmacovigilance market is segmented by clinical trial phase, service provider, and region. On the basis of clinical trial phase, the market is segmented into preclinical, phase I, phase II, phase III, and phase IV. The market on the basis of service provider is segmented into in-house and contract outsourcing. Contract outsourcing dominated the market in 2015 and is expected to continue its dominance during the forecast period. This growth is attributed to the increasing focus of pharmaceutical companies on core business activities by outsourcing pharmacovigilance-related services to specialized firms.
The global pharmacovigilance market is segmented on the basis of key regions, namely, North America, Europe, Asia Pacific, and Rest of the World. North America accounted for the largest share of the pharmacovigilance market globally in 2014. Europe is the second-largest market owing to the implementation of pharmacovigilance. Asia Pacific is the fastest-growing market, registering the highest CAGR during the forecast period. Furthermore, each region is segmented to provide market revenue for select countries such as the U.S., Canada, the U.K., Germany, China, Japan, India, Brazil, and GCC countries. The report includes a detailed study of the global and regional pharmacovigilance market and analyzes the variations in the growth of the industry in certain regions.
A glimpse of the report structure is provided in the report description available on the website.
Quintiles Transnational Corporation, Accenture Plc., Boehringer Ingelheim GmbH, Bristol-Myers Squibb, PAREXEL International Corporation, Janssen Research & Development LLC, Pharmaceutical Product Development Inc., United BioSource Corporation, Synowlwedge LLC, Cognizant Technology Solutions Corporation, Covance Inc., and ICON, Plc. are the most active players in the pharmacovigilance market.
This report covers the pharmacovigilance market, in terms of value, and forecasts the market size till 2020. In addition, the report identifies key growth segments and opportunities in the industry. This report also covers detailed competitive outlook including the share and company profiles of the key players in the global pharmacovigilance market. Company profile includes company summary, financial summary, business strategy and planning, SWOT analysis, and current developments.
The deep-dive study on the pharmacovigilance market will help customers with the identification of new market opportunities and targeted promotional plans.
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