Global Pharmacovigilance Market Expected Grow At A CAGR Of 16.8% Over 2018-2022

Date: 2018-02-02

Pharmacovigilance, also known as drug safety, is the pharmacological science relating to the collection, detection, assessment, monitoring, and prevention of adverse effects with pharmaceutical products.

The driving factors such as increasing prevalence of diseases, global geriatric population, are mainly leading to a rise in drug consumption, furthermore, safety regulations, and intensifying regulatory expectations, are expected to bolster the adoption rate of pharmacovigilance among pharmaceutical companies globally, according to study, the global Pharmacovigilance is projected to grow at a CAGR of 16.8% between 2018-2022.

Geographically, The North America accounted the largest share of global pharmacovigilance market, region followed by Europe; Europe is expected to register a CAGR of 14.1% for the forecast period. In addition, Asia Pacific and Latin American countries evince high growth markets. This is owing to a rise in research outsourcing by pharmaceutical giants and growing public and private investments in pharmaceutical R&D in these emerging nations.

Base on phase of drug development, the pharmacovigilance can be classified into preclinical studies, phase I clinical trial, phase II clinical trial, phase III clinical trial and phase IV clinical trial or post-marketing surveillance, according to research, the Pharmacovigilance post-marketing surveillance is expected to grow at highest CAGR for the forecast period owing to growth of instant need for patient reporting.

Global top manufacturers operating in Pharmacovigilance market are Lily, Accenture, Bristol-Myers Squibb, Clinquest, Cognizant Technology Solutions, Covance, Roche, GSK, ICON, iGATE, iMEDGlobal, inVentiv Health, Novartis, PAREXEL, Pfizer, PPD, PRA Health Sciences, Quintiles Transnational Holdings, Sanofi, Synowledge and Wipro among others.

Global Pharmacovigilance market share by geography as following:

Read Full Report: http://www.gosreports.com/global-pharmacovigilance-market-research-report-2017/

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 510-400-8520
Web: www.gosreports.com
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