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Pharmacovigilance Market worth $24.76 billion by 2030, growing at a CAGR of 15.80% - Exclusive Report by 360iResearch
Pharmacovigilance Market | 360iResearch
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Pharmacovigilance (PV) refers to activities involving the detection, assessment, understanding, and prevention of adverse effects or other drug-related problems, crucial for ensuring drug safety. The necessity for PV includes safeguarding patient safety by identifying and managing adverse drug reactions (ADRs), regulatory compliance through adherence to FDA and EMA standards, and post-marketing surveillance to detect rare or long-term adverse effects. It also assures product quality and risk management within pharmaceuticals. PV applications span various stages of drug development, post-market surveillance, signal detection, case management, and risk assessment. The primary end-users include pharmaceutical companies, contract research organizations (CROs), healthcare providers, regulatory authorities, and academic institutions. Key growth factors influencing the PV market are increasing drug consumption, stringent regulatory requirements, technological advancements such as AI and big data, enhanced pharmaceutical R&D activities, and globalization of drug distribution and trials. Potential opportunities include integrating AI for faster signal detection, employing blockchain technology for data transparency, leveraging big data analytics for predictive modeling, and exploring emerging markets in Asia-Pacific and Latin America. Recommendations for seizing these opportunities involve investing in advanced algorithms for ADR prediction, collaborating with technology firms specializing in analytics and blockchain, expanding PV services to developing regions, and upskilling the workforce to manage new technological frameworks. However, challenges such as data quality, regulatory complexity, resource constraints, high technological costs, and under-reporting of ADRs persist. Areas ripe for innovation and research include the real-world evidence (RWE) approach for understanding long-term drug effects, developing sophisticated AI models, mobile health technology for real-time ADR reporting, wearable tech for continuous monitoring, and personalized medicine tailored to individual genetic profiles. The dynamic and heavily regulated PV market is characterized by rapid technological advancements and increasing drug safety awareness, with significant collaboration among pharmaceutical firms, CROs, and technology providers, anticipated to present substantial growth opportunities.
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Market Segmentation & Coverage:
This research report categorizes the Pharmacovigilance Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Contract Outsourcing and In-house.
Based on Clinical Trial, market is studied across Phase I, Phase II, Phase III, Phase IV, and Pre-Clinical.
Based on Function, market is studied across Cohort Event Monitoring, EHR Mining, Intensified ADR Reporting, Spontaneous Reporting, and Targeted Spontaneous Reporting.
Based on End-User, market is studied across Academic & Research Institutes, Government Agencies, Health Insurance Companies, Hospitals & Care Providers, and Pharma & Biotech Companies.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.
Key Company Profiles:
The report delves into recent significant developments in the Pharmacovigilance Market, highlighting leading vendors and their innovative profiles. These include Sanofi S.A., Novartis AG, Oracle Corporation, HCL Technologies Limited, ITclinical, IQVIA Inc., Bristol-Myers Squibb Company, TATA Consultancy Services Limited, F. Hoffmann-La Roche AG, Parexel International, Infosys Limited, ClinChoice, Syneos Health, Pfizer Inc., Wipro Limited, Laboratory Corporation of America Holdings, International Business Machines Corporation, GlaxoSmithKline PLC, Capgemini SE, TAKE Solutions Limited, Linical Co., Ltd., ICON PLC, and Quanticate International limited.
Introducing 360iResearch AI: Revolutionizing Market Intelligence with AI-Powered Insights for the Pharmacovigilance Market
We proudly unveil Research AI, a cutting-edge AI product designed to transform how businesses interact with the Pharmacovigilance Market. Research AI stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, Research AI is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it's a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Pharmacovigilance Market. Embrace the future of market analysis with Research AI, where informed decisions lead to remarkable growth.
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Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Pharmacovigilance Market, by Type
7. Pharmacovigilance Market, by Clinical Trial
8. Pharmacovigilance Market, by Function
9. Pharmacovigilance Market, by End-User
10. Americas Pharmacovigilance Market
11. Asia-Pacific Pharmacovigilance Market
12. Europe, Middle East & Africa Pharmacovigilance Market
13. Competitive Landscape
14. Competitive Portfolio
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360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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