Pharmacovigilance Market Forecast By Global Size, Share Analysis And Industry Trends Outlook By 2026
Pharmacovigilance Market | Size, Share Estimation, Growth Projection, Emerging Trends And Global Industry Analysis 2020 is latest depth analysis market research report On “Global Pharmacovigilance Market” published By Fortune Business Insights. Report analyzes comprehensive information on Pharmacovigilance Market Segments By Type (Service and Software), By Deployment (In-house and Outsource), By End User (Hospitals, Pharmaceutical Companies, and Others), and Regional Forecast, 2020-2027.
Pharmacovigilance Market 2020 report presents a comprehensive assessment of the global Pharmacovigilance Industry by offering valuable insights, Pharmacovigilance types, facts, industry-related information, and historical data.
Pharmacovigilance Key Companies Analyzed In Report are:
Quanticate, Pharmaceutical Product Development, LLC, Cognizant, Parexel International Corporation, IQVIA, ICON plc, Bioclinica, Accenture plc, Covance Inc.
Global Pharmacovigilance Market Analysis:
Global pharmacovigilance market size is projected to reach USD 12.25 billion by 2027, exhibiting a CAGR of 12.3% during the forecast period. Initiation of awareness campaigns to disperse information among patients regarding safe medication practices will stimulate market growth.
As a consequence, there has been a sudden surge in clinical trials in recent months, which has brought glad tidings for the pharmacovigilance market growth. For example, PGIMER Chandigarh began the clinical trial of Sepsivac, an immunomodulator, on asymptomatic COVID-19 patients in April 2020. Similarly, a potential vaccine against the coronavirus was developed by the University of Oxford in a span of just 3 months and its first human trial began in the third week of April in the UK.
The coronavirus incident has caused major damage to all the industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market. Furthermore, the report offers a detailed analysis and information as per Pharmacovigilance manufacturers, market segments helping our readers to get a comprehensive overview of the global market. Several players are planning to focus on developing cost-effective products or services, aiming to maintain a strong foothold in the market.
Pharmacovigilance Market Regional Insights:
Having generated revenue worth USD 1.94 billion in 2019, North America is anticipated to lead the pharmacovigilance market share during the forecast period. One of the main reasons for the region’s dominance is the well-established healthcare research infrastructure in the region as well as supportive policy environment for advancements in medicine technologies.
In addition to this, North America also has a large number of PV centers with modern software, which augurs well for the market in the region. In Europe, the market is expected perform impressively owing to the presence of strong regulatory bodies such as European Medicines Agency (EMA) to monitor Adverse Drug Reactions (ADRs). The market in Asia-Pacific is foreseen to grow at the fastest pace on account of rising emphasis on efficient assessment of ADRs and Adverse Event (AE).
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