The global Pharmacovigilance Market is expected to reach USD 12.98 Billion by 2027, according to a new report by Reports and Data. Every drug is associated with beneficial, as well as an undesirable or adverse effect. The major focus of pharmacovigilance is on adverse drug reactions (ADR), a common clinical problem, and drug toxicity. According to the studies conducted by the WHO (World Health Organization), in developed countries, nearly 5% of hospitalized patients are admitted into hospital as a result of an ADR, and 6-10% of in-patients are expected to experience a serious ADR during hospitalization. The pharmacovigilance market consists of all types of adverse events reporting conducted during clinical trials in hospitals, pharmacies, and other healthcare sectors. Increasing demand for acceptance and adoption of outsourcing services by healthcare companies will stimulate pharmacovigilance market growth during the forecast period. Moreover, Outsourcing eliminates the risk of business overhead costs as well as the deployment of pharmacovigilance resources.
Outsourcing strategy increases the cost-effectiveness and efficiency by relieving resource pressure on firms, thereby positively supporting the market growth. Positively shifting trends in PV outsourcing owing to increasing benefits will accelerate pharmacovigilance market growth in the coming years. Major pharmaceutical industry key players are significantly involved in extensive R&D initiatives for the development of innovative therapeutic molecules to bring out the best outcomes. This has successfully resulted in increased drug development activities over a period of time. Manufacturers are keenly focusing on remodeling their product development processes and work on the product portfolio and improvise the service provided by them in order to make an attempt to fulfill the unmet demand of patients across the globe. These factors are collectively anticipated to boost the pharmacovigilance market.
COVID-19 ImpactHealthcare organizations/agencies across the globe are evaluating the impact of the COVID-19 pandemic and providing new guidance on clinical trial management by sponsors and pharmacovigilance systems. This swiftly changing circumstances require sponsors to be more proactive and vigilant in ascertaining the effects of the pandemic and variations in authority expectations to decrease the impact on safety reporting while maintaining patient safety. At present, it has become essential to request revised instructions and implement regulatory changes rapidly to lessen interruptions to clinical trials. To deal with the present situation in an effective manner, it is necessary to have and recognized and strong safety reporting solution.
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Key findings in the report:
Pharmacovigilance Market By Type, By Service Provider, By Clinical Trial Phase, and By End-User, Forecasts To 2027, To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/pharmacovigilance-market
For the purpose of this report, Reports and Data have segmented the global pharmacovigilance market on the basis of type, service provider, clinical trial phase, end-users, and region:
Type Outlook (Revenue, USD Million; 2017-2027)
Service Provider Outlook (Revenue, USD Million; 2017-2027)
Clinical Trial Phase Outlook (Revenue, USD Million; 2017-2027)
End-Users Outlook (Revenue, USD Million; 2017-2027)
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Regional Outlook (Revenue in USD Billion; 2017–2027)
Table Of Content
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Pharmacovigilance Segmentation & Impact Analysis
4.1. Pharmacovigilance Material Segmentation Analysis
4.2. Industrial Outlook
………..
Chapter 10. Competitive Landscape
10.1. Market Revenue Share by Manufacturers
10.2. Manufacturing Cost Breakdown Analysis
10.3. Mergers & Acquisitions
10.4. Market positioning
10.5. Strategy Benchmarking
10.6. Customer Mapping
10.7. Vendor Landscape
Chapter 11. Company Profiles
11.1. Accenture
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Technology Insights
11.1.4. Strategic Initiatives
11.2. Cognizant
11.2.1. Company Overview
11.2.2. Financial Performance
11.2.3. Technology Insights
11.2.4. Strategic Initiatives
11.3. ArisGlobal
11.3.1. Company Overview
11.3.2. Financial Performance
11.3.3. Technology Insights
11.3.4. Strategic Initiatives
11.4. IBM Corporation
11.4.1. Company Overview
11.4.2. Financial Performance
11.4.3. Technology Insights
11.4.4. Strategic Initiatives
11.5. IQVIA
11.5.1. Company Overview
11.5.2. Financial Performance
11.5.3. Technology Insights
11.5.4. Strategic Initiatives
Continue …
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