Pharmacovigilance Outsourcing Market will reach at USD 23.9 billion by 2032 With Leading Key Players -, ITClinical, LabCorp, Clinquest Group B.V, ICON, Cognizant, Foresight Group International AG, ArisGlobal, IBM, iMEDGlobal, United BioSource, TAKE Soluti

The global pharmacovigilance outsourcing market is projected to grow from USD 6.26 billion in 2021 to USD 23.9 billion by 2032 at a CAGR value of 16.7%. Pharmacovigilance or drug safety is a field of pharmacology that involves the collection, identification, and observation of the harmful side effects of pharmaceutical drugs. The complex challenges faced by the pharmaceutical industry in terms of drug safety have been one of the key factors that have facilitated the growth of the market.

Top pharmaceutical companies have adopted the trend of outsourcing services for their clinical trial projects to Asian CROs/ pharmacovigilance outsourcing companies. A pharmacovigilance outsourcing company has to be up to date with innovations, technologies, and regulatory changes in the pharmaceutical industry.

The scope of pharmacovigilance is in protecting their client against a potential recall of their product due to adverse drug reactions. The growing outsourcing trends among pharmaceutical companies have caused the pharmacovigilance market size to grow rapidly. The outsourcing market size has been growing as more and more companies across various regions are turning to outsource services for their research projects as a means to cut down on costs due to the availability of cheap and high-quality labor in developing nations. The growing number of adverse drug reaction cases in hospitals across the globe has been a cause for concern among consumers and regulatory bodies. In Europe alone, the National Centre for Biotechnology Information estimates that around 5% of all hospitalizations in the region are due to adverse drug reactions. Pharmaceutical companies are launching new products every year which has necessitated the need for clinical trials to ensure the safety of their products. This increasing need for vigilance to meet the regulations put forth by regulatory bodies has resulted in the growth of the pharmacovigilance market.

Get ready to identify the pros and cons of the regulatory framework, local reforms, and its impact on the Industry. Know how Leaders in Pharmacovigilance Outsourcing are keeping themselves one step forward with our latest survey analysis

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Pharmacovigilance Outsourcing Market: By Service Provider
Based on the pharmacovigilance outsourcing service providers, the market can be classified into contract research organizations and business processing outsourcing segments. The contract research organizations segment is envisaged to procure the largest share of the market. This segment is driven by the increasing number of small and medium sized pharmaceutical companies opting for their services. These organizations mostly handle the pre-marketing outsourcing requirements of pharmaceutical companies while business processing outsourcing companies handle the post-marketing requirements. The growing pre-marketing requirements of pharmaceutical and biotech companies is one of the major drivers of the contract research organizations segment. These factors are helping the segment to grow rapidly in the pharmacovigilance outsourcing market during the forecast period.

Pharmacovigilance Outsourcing Market Share and Competitor Analysis
Parexel, Covance, TCS, IBM Corporation, Clintec, Ergomed, Medpace Holdings, iMED Global Corporation, Genpact, Syneos Health, Cognizant, , ICON, BioClinica, iGATE Corporation, Infosys, and Oracle, among others are the key players in the pharmacovigilance outsourcing market.

ncreasing hazards associated with adverse drug reactions will upsurge the need for effective pharmacovigilance services
Adverse drug reactions associated with pharmaceutical products used in prevention and treatment of various diseases will serve to be one of the major factors fostering the market growth. ADR monitoring is required for each drug throughout its life cycle, from drug development process including pre-marketing, early stages of drug design and clinical trials to post-marketing surveillance. Development in drug discovery process has led to availability of multiple new drugs in the market. Compliance of these drugs with the safety parameters laid by the regulatory authorities will upsurge the need for pharmacovigilance services.


Pharmaceutical and biopharmaceutical companies rely on pharmacovigilance activities that are performed in-house or are outsourced. Challenges in setting up in-house PV department such as high costs to maintain required levels of compliance, infrastructure and availability of qualified and trained in-house resources will lead to rise in outsourcing trends. Increasing number of pharmaceutical companies outsourcing their PV activities to service providers such as contract research organizations (CROs) and business process outsourcing (BPOs) will further spur the pharmacovigilance outsourcing market share.

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wareness regarding adherence to Good Clinical Practice (GCP) will raise the demand for pre-marketing PV outsourcing services
The pre-marketing services cover clinical pharmacovigilance services, case processing services, safety data management services and medical review. Post marketing services include knowledge process outsourcing services and IT solutions & services.


The pre-marketing services segment was valued around USD 950 million in 2019 and is estimated to grow significantly during the forecast period. Increasing focus of companies on product monitoring, clinical operations, regulatory affairs, statistical analysis, quality assurance, evaluation and drug approvals with necessary clearances and documentation will favor the pharmacovigilance outsourcing industry growth.

Emergence of India as a hub for global clinical research and a destination for drug discovery and development will pave the way for regional market expansion
Asia Pacific industry is poised to exceed USD 3.5 billion revenue by 2026. Increasing volume of clinical trials being conducted in the Asian countries will serve to be a major impact rendering factor in the regional market growth. Developing countries such as China and India are the most favored destinations for PV outsourcing owing to availability of high skill set at lower costs. Moreover, availability of large pool of talented medical, paramedical and non-medical professionals involved in the PV process coupled with presence of refined PV systems in the region will further accelerate the market progression.

To comprehend Pharmacovigilance Outsourcing market dynamics in the world mainly, the worldwide Pharmacovigilance Outsourcing market is analyzed across major global regions. Customized study by specific regional or country can be provided, usually client prefers below

North America: United States of America (US), Canada, and Mexico.
• South & Central America: Argentina, Chile, Colombia and Brazil.
• Middle East & Africa: Kingdom of Saudi Arabia, United Arab Emirates, Turkey, Israel, Egypt and South Africa.
• Europe: the UK, France, Italy, Germany, Spain, NORDICs, BALTIC Countries, Russia, Austria and Rest of Europe.
• Asia: India, China, Japan, South Korea, Taiwan, Southeast Asia (Singapore, Thailand, Malaysia, Indonesia, Philippines & Vietnam etc) & Rest
• Oceania: Australia & New Zealand
Basic Segmentation Details
Pharmacovigilance Outsourcing Product Types In-Depth: Contract Research Organizations, Business Processing Outsourcing, In-House, Contract Outsourcing.

Pharmacovigilance Outsourcing Major Applications/End users: Pre-marketing Services, Post-marketing Services

Geographical Analysis: North America, US, Canada, Mexico, Europe, Germany, France, U.K., Italy, Russia, Nordic Countries, Benelux, Rest of Europe, Asia, China, Japan, South Korea, Southeast Asia, India, Rest of Asia, South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Turkey, Israel, Saudi Arabia, UAE & Rest of Middle East & Africa & Rest of World

For deep analysis of Pharmacovigilance Outsourcing Market Size, Competition Analysis is provided which includes Revenue (M USD) by Players (2022-2028) & Market Share (%) by Players (2022-2028) complimented with concentration rate.

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Actual Numbers & In-Depth Analysis of Pharmacovigilance Outsourcing Market Size Estimation and Trends Available in Full Version of the Report.

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