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Pharmacovigilance Market Size, Share, Growth, IndustryAnalysis, Demand and Forecasts to 2022: Hexa Research

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Pharmacovigilance Market Analysis By Clinical Trial Phases, By Type Of Service Providers (In House, Contract Outsourcing), Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts To 2020
Hexa Research
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Pharmacovigilance Market Analysis, Size, Share, Growth,
Industry Trends and Forecasts, 2015 To 2022 - Hexa Research
Increasing rate of adverse drug reaction coupled with rising drug consumption globally is
anticipated to propel the market growth for pharmacovigilance market. It is basically
pharmacological science which helps in collecting, assessing, detecting, monitoring and
preventing drug reaction after consumption of pharmaceutical drugs. Increasing number of
absolute and chronic diseases, rise in the level of drug toxicity, and g rowing geriatric
population base all over the world are the main drivers of this market. Introduction of new
technologies for pharmacies and huge investment in research and development are
anticipated to fuel the market for pharmacovigilance market. Strong government rules and
regulation regarding drug production & safety intensify the growth of this market.
Rising outsourcing and offshoring of pharmaceutical products is expected to have
significant opportunity in the developing countries. Globalization has shown positive effects
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Hexa Research
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in pharmaceutical industries due to firms are now able to produce the same drugs which
are comparatively of lower costs.
Clinical Trial Insight
The global pharmacovigilance market is classified into clinical trial phases, type of methods
and type of service provider. Clinical trial segment is further divided into phase I, phase II,
phase III and phase IV. Phase IV has witnessed maximum usage rate in 2013. Phase IV
passes through three hurdles before getting any acceptance from regulatory authorities and
clear all critical stages like quality inspection, effectiveness testing and safe for the
prescribed purpose. The data collected in post phase III has huge acceptance due to i ts
immense effectiveness and minimum ADR. After phase IV, the phase III market is the
largest market share holder owing to its highest drugs safety clearance compared to phase
I and phase II.
Browse related category market reports @ https://www.hexaresearch.com/researchcategory/medical-devices-industry
Method Type Insight
By type of methods pharmacovigilance market is divided into target reporting, spontaneous
reporting, cohort event monitoring, EHR monitoring and intensified ADR reporting. The
electronic health recording market is anticipated to witness significant growth over the
forecast period. Owing to increase in digitalization and automation in healthcare this market
is likely to show tremendous growth in coming six years. Apart from this, EHR devices also
helps to build a strong communication channel between patient and doctors due to
increase in sharing more effective date electronically.
Service Type Insight
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Hexa Research
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On the basis of service type, market is again bifurcated into contract outsourcing and in
house manufacturing. Contractual outsourcing was the market leader in 2013. Globalization
of economies has given a platform to developed countries to produce goods and services
at much cheaper rate by outsourcing or offshoring it to developing nations whose value of
currencies are lower. Outsourcing also helps to minimize the risk of productio n failure or
stock out situation. Over the next six years, market for pharmacovigilance is anticipated to
grow at highest rate. Furthermore, outsourcing also helps to minimize fixed cost of the
company, resource flexibility, reduction in upfront investment and mitigation of risk. It
renders services in SOP, PV audit, process design and other customized services.
Regional Insight
In global pharmacovigilance market, North America was the market leader in 2013.
Introduction in drug safety norms by US FDA and other responsible authorities
complemented with huge investment in research and development is expected to maintain
its growth rate over 2020. Asia pacific region is anticipated to record highest growth rate
over the forecast period owing to increasing awareness ADR and availability of cheap
labors. This market possess signification opportunity for prosperity in pharmacovigilance
market.
Competitor Insight
Synowlwedge LLC, Accenture Plc., Cognizant Technology Solutions Corporation, and
Covance Inc.,United BioSource Corporation, Bristol-Myers Squibb, PAREXEL International
Corporation, Janssen Research & Development, LLC,Boehringer Ingelheim GmbH,
Quintiles Transnational Corporation,Pharmaceutical Product Development, Inc., and ICON,
Plc. are the major market players of pharmacoviligance market. Firms are adopting
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business development strategies like mergers, acquisition, geographical expansion and
new product development to survive in the market
Table of Contents
Chapter 1. Executive Summary
1.1. Pharmacovigilance– Industry Summary and Critical Success Factors (CSFs)
Chapter 2. Pharmacovigilance Industry Outlook
2.1. Market Segmentation
2.2. Market Size and Growth Prospects
2.3. Pharmacovigilance – Market dynamics
2.3.1. Market Driver Analysis
2.3.2. Market Restraint Analysis
2.4. Key Opportunities Prioritized
2.5. Pharmacovigilance – PESTEL Analysis
2.6. Pharmacovigilance Company Market Share Analysis, 2013
Browse Detail Report with TOC @ https://www.hexaresearch.com/researchreport/pharmacovigilance-industry/
About Us:
Hexa Research is a market research and consulting organization, offering industry reports,
custom research and consulting services to a host of key industries across the globe. We offer
comprehensive business intelligence in the form of industry reports which help our clients obtain
clarity about their business environment and enable them to undertake strategic growth
initiatives.
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Email : [email protected]
Website: http://www.hexaresearch.com/
Hexa Research
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forecasts to help you make better decisions for a stronger future
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