Pharmacovigilance Market, by Clinical Trial (Preclinical Studies, Phase I, Phase II, Phase III, and Other), by Types Of Reporting (Spontaneous Reporting, Targeted Spontaneous Reporting, and Other), by Service Provider (Contract Outsourcing and In-house), and by End User (Medical Industries, Biotechnological Industries, and Other) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Oct 2018 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Pharmacovigilance is a study of safety and efficacy of a medical product or drug. It is a science associated with the collection, detection, assessment, and prevention of adverse effects related with the medical product or drug. The role of pharmacovigilance is to analyze the side effects of the drug and determine the adverse effects, negatively affecting the drug’s efficacy and vice-versa. Pharmacovigilance comprises drug discovery and development, preclinical research, clinical research, and post marketing surveillance. It traces every phase of a drug cycle from preclinical development to post-market surveillance. Increasing prevalence of adverse drug reaction and implementation of safety regulations by government regulatory bodies is expected to fuel growth of the pharmacovigilance market over the forecast period.

Growing prevalence of adverse drug reactions is expected to fuel pharmacovigilance market growth over the forecast period 

Growing prevalence of adverse reactions caused by drugs, has influenced the pharmaceutical and biotechnological industries to adapt practices of pharmacovigilance, is in turn, expected to fuel growth of the market for pharmacovigilance in the near future.

Government regulatory bodies such as the U.S. Food and Drug Administration (U.S.-FDA) and European Medicines Evaluation Agency (EMEA) have formulated safety regulations to ensure manufacture of safe drugs and evaluation of its after-effects on patients. These regulations have to be followed by pharmaceutical and biotechnological companies, in turn, fueling demand for pharmacovigilance. Moreover, increasing R&D in the drug sector is further expected to propel growth of the pharmacovigilance market.

Global Pharmacovigilance Market Taxonomy

On the basis of clinical trial, the global pharmacovigilance market in segmented into:

  • Preclinical Studies
  • Phase I
  • Phase II
  • Phase III
  • Phase IV or Post Marketing Surveillance 

On the basis of types of reporting, the global pharmacovigilance market in segmented into:

  • Spontaneous Reporting
  • Targeted Spontaneous Reporting
  • Cohort Event Monitoring
  • Intensified ADR Reporting
  • EHR Mining

On the basis of service provider, the global pharmacovigilance market in segmented into:

  • Contract Outsourcing
  • In-house

On the basis of end user, the global pharmacovigilance market in segmented into:

  • Medical Device
  • Biotechnological
  • Pharmaceutical

Europe is expected to hold a dominant position in the global pharmacovigilance market, due to introduction of new legislation in European Union

Europe is expected to hold a dominant position in the global pharmacovigilance market, over the forecast period. This is mainly due to introduction of new legislations in European Union in 2012, which ensures good vigilance practices for pharmaceutical companies and medicines regulators.. According to National Center for Biotechnology Information, in 2016, Europe accounted for high incidence of adverse drug reactions, around 5% of all hospital admissions were due to drug reactions, which caused around 197,000 deaths in EU. Increasing prevalence of adverse drug reactions and introduction new legislation has influenced adoption of pharmacovigilance among companies, in turn, fueling the market growth in the region. North America is expected to hold the second-largest market for pharmacovigilance due to increasing development of new drugs and growth in research and development activities of pharmaceutical and biotechnology in the U.S.

Key Players in the Pharmacovigilance Market

PharmaLex, a development consulting and affairs group has collaborated with Volv to boost its pharmacovigilance business. Key players operating in the global pharmacovigilance market include Accenture, Cognizant, PAREXEL International Corporation, IBM Corporation, Clinquest Group B.V., Wipro Ltd, Oracle Corporation, Foresight Group International AG, TAKE Solutions Ltd, and United BioSource Corporation.

Research Methodology

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  • Primary Research (Trade Surveys and Experts Interviews)
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In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

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Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

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  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

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  • Manufacturers
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  • Distributors
  • End-users

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