Pharmacovigilance Market to expand at a CAGR of 14.2%, by 2020

Report Id : REP-GB-1107 Published On : Nov-2015 Category : Healthcare, Pharmaceuticals and Medical devices

Pharmacovigilance Market: Global Industry Analysis and Opportunity Assessment 2015 - 2020

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Pharmacovigilance Market

Pharmacovigilance Market Expected to Surpass US$ 6 Billion in Revenues by 2020 Future Market Insights (FMI) delivers key insights on the global pharmacovigilance market in its upcoming outlook titled “Pharmacovigilance Market: Global Industry Analysis and Opportunity Assessment, 2015 2020�. In terms of revenue, the global pharmacovigilance market is estimated to expand at a healthy CAGR of 14.2% through 2020. The global pharmacovigilance market was valued at US$ 2,759.1 Mn in 2014 and is expected to reach US$ 6,104.1 Mn in 2020, expanding at a CAGR of 14.2% from 2015 to 2020.

The market is segmented based on phase of drug development, type of reporting methods and type of service providers.

Based on phase of drug development, the market has been segmented into preclinical studies, phase I clinical trial, phase II clinical trial, phase III clinical trial and phase IV clinical trial or post-marketing surveillance.

Based on type of reporting methods, the market has been segmented into spontaneous reporting, intensified ADR reporting, targeted spontaneous reporting, cohort event monitoring and EHR mining.

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Pharmacovigilance Market

On the basis of service providers, the market has been segmented into in-house and contract outsourcing.

As the number of chemical entities has been growing in the global pharmaceuticals market, pharmacovigilance is increasingly become a mandate for drug manufacturers. Considering the change in regulations, phase III and phase IV studies are being increasingly conducted to monitor the long-term safety outcomes of pharmaceuticals and biological products. Implementation of active pharmacovigilance activities assists in the execution of long-term plans, such as in bringing improvement in patient outcome and minimisation of health care associated costs, particularly related to Adverse Drug Reactions (ADRs), and in the prevention of drug hazards.

To provide deeper insights into the pharmacovigilance market, the report has also been segmented by phase of drug development, type of reporting method and type of service provider.

By phase of drug development, the clinical trial phase III segment is projected to expand at a CAGR of 15.5% in the global pharmacovigilance market by phase of drug development by 2020 end in terms of value.

Evaluation of real-time effectiveness of the drug and availability of a facility to conduct trials in state-of-theart settings, thus complementing the outcomes of premarketing randomised control trials, are the prime benefits availed from pharmacovigilance in phase IV trials. It has also been reported that approximately 57% of the global pharmaceutical companies outsource post marketing operations to CROs in order to avoid the high operational cost associated with technological infrastructure and hiring skilled staff.

Pharmacovigilance Market

Request For TOC@ http://www.futuremarketinsights.com/toc/rep-gb-1107 The primary barriers in the market include high risk associated with securing data in case of pharmacovigilance outsourcing and lack of availability of skilled workforce specialising in drug monitoring.

The primary trend in the pharmacovigilance market is an increase in dependence on third party services.

Other trends include harnessing shorter turnaround times for faster market capitalisation and requirement of highly skilled personnel for monitoring side effects.

Some of the key players identified in the global pharmacovigilance market report include: Accenture plc, Bristol-Myers Squibb, Clinquest Group B.V., Cognizant Technology Solutions, Covance, Inc., F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc (GSK), ICON plc, iGATE Corporation, iMEDGlobal Corporation, inVentiv Health, Inc., Novartis International AG, PAREXEL International Corporation, Pfizer, Inc., Pharmaceutical Product Development, LLC. (PPD), PRA Health Sciences, Inc., Quintiles Transnational Holdings, Inc., Sanofi S.A., Synowledge LLC and Wipro Limited. These companies specialise in pharmacovigilance services, and focus on market consolidation initiatives and analyses of their specific strengths, weaknesses, opportunities and threats to strengthen their position in the market.

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Pharmacovigilance Market

The report has been concluded with strategic recommendations for players already present in the market and new players planning to enter the market, which could help them in the near future.

This report assesses factors driving growth of each segment of the market and presents analysis and key insights on the potential of the pharmacovigilance market as per region-specific trends. North America accounted for majority of the pharmacovigilance market revenue in 2014. However, incidences of increasing consumption of drugs and rise in cases of adverse drug reactions are expected to drive growth of the market in Asia Pacific and Latin American regions.

Table of Content

1 Introduction 1.1 Report Description 1.2 Research Methodology 1.3 Market Segmentation 2 Executive Summary 3 Global Pharmacovigilance Market Dynamics 3.1 Introduction 3.2 Market Drivers 3.2.1 Increasing Consumption of Drugs Would Fuel Demand for Continuous Drug Event Monitoring 3.2.2 Rise in Cases of Adverse Drug Reactions and Drug Toxicity Would Boost Demand for Pharmacovigilance Activities 3.2.3 Rise in Adoption of Outsourcing Services Expected to Accentuate the Market Growth

Table of Content

3.3 Market Restraints 3.3.1 High Risk Associated with Data Security in Pharmacovigilance Outsourcing 3.3.2 Lack of Availability of Skilled Labour Might Hinder the Market Growth 3.3.3 Inadequate Pharmacovigilance System for Herbal Products in Asia Pacific Might Hamper the Market Growth 3.4 Market Opportunities 3.4.1 Huge Scope for Rapid Growth of Pharmacovigilance Market in Emerging Economies 3.4.2 Shift in Preference for Outsourcing among Various Pharmaceutical and Life Sciences Companies 3.5 Porter’s Five Forces Analysis: Global Pharmacovigilance Market 3.5.1 Bargaining Power of Suppliers 3.5.2 Bargaining Power of Buyers 3.5.3 Threat of Substitutes 3.5.4 Threat of New Entrants 3.5.5 Competitive Rivalry

Table of Content

3.6 Market Attractiveness Analysis: Global Pharmacovigilance Market, by Geography 3.7 Competitive Landscape 3.7.1 Market Share Analysis: Global Pharmacovigilance Market, 2014 (Value %) 4 Global Pharmacovigilance Market, by Phase of Drug Development 4.1 Overview 4.1.1 Global Pharmacovigilance Market Revenue, by Phase of Drug Development, 20142020 (US$ Mn) 4.1.2 Comparative Analysis: Global Pharmacovigilance Market Revenue, by Type of Clinical Trial Phases, 2014(Value %) 4.2 Preclinical Studies 4.2.1 Global Preclinical Studies Pharmacovigilance Market Revenue, 2014-2020 (US$ Mn) 4.3 Phase I 4.3.1 Global Phase I Clinical Trial Pharmacovigilance Market Revenue, 2014-2020 (US$ Mn)

Table of Content

4.4 Phase II 4.4.1 Global Phase II Clinical Trial Pharmacovigilance Market Revenue, 2014-2020 (US$ Mn) 4.5 Phase III 4.5.1 Global Phase III Clinical Trial Pharmacovigilance Market Revenue, 2014-2020 (US$ Mn) 4.6 Phase IV or Post Marketing Surveillance 4.6.1 Global Phase IV Clinical Trial Pharmacovigilance Market Revenue, 2014-2020 (US$ Mn) 5 Global Pharmacovigilance Market, By Type of Methods 5.1 Overview 5.1.1 Global Pharmacovigilance Market Revenue, by Type of Method , 2014-2020 (US$ Mn) 5.2 Comparative Analysis: Global Pharmacovigilance Market Revenue, by Type of Method, 2014(Value %)

Table of Content

5.3 Spontaneous Reporting 5.3.1 Global Spontaneous Reporting Market Revenue, 2014-2020 (US$ Mn) 5.4 Intensified ADR Reporting 5.4.1 Global Intensified ADR Reporting Market Revenue, 2014-2020 (US$ Mn) 5.5 Targeted Spontaneous Reporting 5.5.1 Global Targeted Spontaneous Reporting Market Revenue, 2014-2020 (US$ Mn) 5.6 Cohort Event Monitoring 5.6.1 Global Cohort Event Monitoring Market Revenue, 2014-2020 (US$ Mn) 5.7 EHR Mining 5.7.1 Global EHR Mining Market Revenue, 2014-2020 (US$ Mn) 6 Global Pharmacovigilance Market, by Type Service Provider 6.1 Overview 6.1.1 Global Pharmacovigilance Market Revenue, by Type of Service Provider, 2014-2020 (US$ Mn) 6.1.2 Comparative Analysis: Global Pharmacovigilance Market, by Type of Service Providers, 2014 (Value %)

Table of Content 6.2 In-house Pharmacovigilance 6.2.1 Global In-House Pharmacovigilance Market Revenue, 2014-2020 (US$ Mn) 6.3 Contract Outsourcing 6.3.1 Global Contract Outsourcing Pharmacovigilance Market Revenue, 2014-2020 (US$ Mn) For more insights on the Pharmacovigilance Market , you can request a report sample with full TOC at http://www.futuremarketinsights.com/toc/rep-gb-1107

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