Pharmacovigilance is referred to as a practice of monitoring the effects of medical drugs after they have been licensed for use, especially in order to identify and evaluate previously unreported adverse reactions. Globally, increasing incidence rates of ADR (adverse drug reaction) which also represent a substantial burden on healthcare systems, coupled with the introduction of stringent government policies in developing nations pertaining to drug safety regulations are some key factors expected to drive the pharmacovigilance market during the period of study.
Geographically, North America dominated the pharmacovigilance market driven by strict drug safety approval regulations imposed by the U.S. FDA and other regulatory authorities coupled with increasing pressure for maintaining electronic medical records (EMR). North America was followed by Europe and Asia-Pacific as second and third largest market for the pharmacovigilance market. Asia Pacific is projected to have the fastest growth, owing to availability of large pool of educated and cost-effective labor force, the presence of favorable business environment and the implementation of government initiatives aimed at improving healthcare access in developing nations such as India and China.
This report identifies the pharmacovigilance market size for the years 2014-2016, and forecast of the same till the year 2022. It also highlights the market drivers, restraints, growth indicators, challenges, and other key aspects with respect to the pharmacovigilance market.
This report segments the pharmacovigilance market on the basis of clinical trial phase, type of service provider and regional market as follows:
- Pharmacovigilance market research report is classified on the basis of clinical trial phase. Some of the major clinical trial phases covered in this report are as follows: Preclinical Studies, Phase I/1, Phase II/2, Phase III/3, Phase IV/4 Trial
- Pharmacovigilance market research report is classified on the basis of type of service provider. Some of the major service provider types covered in this report are as follows: In House, Contract Outsourcing
- This report has been further segmented into major regions, which includes detailed analysis of each region such as: North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) covering all the major country level markets in each of the region
This report identifies all the major companies operating in the pharmacovigilance market. Some of the major companies’ profiles in detail are as follows:
- Quintiles Transnational Corporation
- Accenture Plc.
- Boehringer Ingelheim GmbH
- Bristol-Myers Squibb
- PAREXEL International Corporation