The prime forces that are driving the global pharmacovigilance market include growing drug consumption, rapidly advancing drug discovery and development, and rising incidences of adverse drug reactions & drug toxicity. Furthermore, factors such as a growing preference for personalized medicine and a rising trend for outsourcing pharmacovigilance services are expected to foster the global market. The advancement in information systems and ADR databases is also supporting the growth of the pharmacovigilance market. COVID-19 pandemic is anticipated to stimulate the market more energetically, during the forecast period, as the global pharmaceutical manufacturers are working strenuously to discover the drug against the disease. However, supply chain disruption may agitate the global market for some period.
The major players in the pharmacovigilance market include Quanticate (U.S), Pharmaceutical Product Development, LLC (U. S), Cognizant (U.S), Parexel International Corporation (U.S), IQVIA (U.S), ICON plc (Ireland), Bioclinica (U.S), Accenture plc (Ireland), Covance Inc. (U.S).
By Type
- Service
- Software
By Deployment
- In-house
- Outsource
By End User
- Hospitals
- Pharmaceutical Companies
- Others
Demand for pharmacovigilance market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Source: https://www.valuemarketresearch.com/report/pharmacovigilance-market
Naira Shekhawat has been into Content Writing just after completing her Graduation in English Literature. Her love for words has won her many accolades in her respective jobs ever since. Naira covers business sections for VMR News. She is a traveller by heart and loves writing on food blogs as a freelancer.