Pharmacovigilance Market soaring at 10.7% CAGR to hit USD 8.0 billion by 2024

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The newly released research at Market Study Report titled “2018-2024 Global Pharmacovigilance Market Report” provides data, information, brief analysis, company profiles, statistics for past years and forecasts for next few years.

Market Study Report adds Global Pharmacovigilance market report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, companies active in the industry and forecasts for the coming years.

North America dominated global pharmacovigilance market in 2016 with U.S. accounted for largest revenue share. Increasing death rates associated with adverse drug reactions coupled with favorable regulatory scenario will support the industry growth over foreseeable future. However, Asia Pacific is looked upon to be fastest growing pharmacovigilance market with developing economies including India and China offering lucrative growth opportunities. Owing to above factors North America is likely to lose some revenue share to Asia Pacific region over the forecast period.

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Pharmacovigilance market will reach USD 8.1 billion by 2024; as per a new research report.
Some of the industry players operating in market are Wipro, Telerx (C3i Solutions), TCS, Sanofi Aventis, Oracle Corporation, Parexel International Corporation, Pfizer, Sanofi Aventis, Novartis AG, Laboratory Corporation of America Holdings, Janssen Research & Development, ITclinical, IQVIA (QuintilesIMS), Ipca Laboratories, InVentiv Health Clinical, Infosys, IBM Corporation, ICON, iGATE Corporation (Capgemini), HCL Technologies, GlaxoSmithKline, Foresight Group International, F. Hoffmann-La Roche, Ecron Acunova, Cognizant Technology Solutions Corporation, Clinquest Group B.V., Bristol-Myers Squibb, Boehringer Ingelheim, and Accenture.

Increasing drug consumption and rise in number of adverse drug reactions will propel the pharmacovigilance industry growth over the forecast timeframe. Pharmaceutical products need continuous monitoring, even after its approval, to track and avoid the repercussions of adverse drug reactions that it may cause.
Pharmacovigilance software and services are designed to address this increasing need of monitoring by enabling effective management of pharmacovigilance data and monitoring of adverse drug reactions.
Major industry players are focusing on development of new and innovative pharmacovigilance platforms. The players are also emphasizing on collaborations and partnerships to enhance their existing product portfolio and increase geographical reach presence.

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Increasing trend of outsourcing pharmacovigilance practices to the third-party entities in Asia Pacific region will accelerate industry growth. These specialized firms operating in Asia Pacific offer pharmacovigilance services at significant low cost compared to counterparts. As the manufacturers are increasingly concentrating their efforts on core activities such as development of novel therapies and production the trend of outsourcing pharmacovigilance related activities will grow in forthcoming years.

However, dearth of skilled personnel and data security concerns will hinder pharmacovigilance market growth over forecast period.

Table of Content:

Chapter 1. Methodology

Chapter 2. Executive Summary

Chapter 3. Pharmacovigilance Industry Insights

Chapter 4. Pharmacovigilance Market, By Clinical Trial Phase

Chapter 5. Pharmacovigilance Market, By Service Provider

Chapter 6. Pharmacovigilance Market, By Region

Chapter 7. Company Profiles

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Release ID: 463372

Name: Arun Hegde
Email: Send Email
Organization: Market Study Report
Address: 4 North Main Street, Selbyville, Delaware 19975 USA