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Global Post-marketing Pharmacovigilance and Medical Information Market Research Report:
According to the latest report by IMARC Group, titled “ Post-marketing Pharmacovigilance and Medical Information Market: Global Industry Trends, Share, Si ze, Growth, Opportunity and Forecast 2022-2027
” the global post-marketing pharmacovigilance and medical information market reached a strong growth in 2021.
Post-marketing pharmacovigilance and medical information is the practice of monitoring the safety and efficacy of drugs and medical devices after their launch. It includes collection, surveillance, and prevention of adverse effects of new medicines, equipment, and therapies. It helps protect patients from unnecessary harm by clarifying risks concerning benefits and refuting false indications. Besides this, it assists researchers in determining required actions throughout the drug formulation cycle. As a result, post-marketing pharmacovigilance and medical information finds a considerable role in the healthcare industry to assess the accuracy of the delivered information between patients and medical professionals. It is also used in research organizations for regulating drug safety guidelines.
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The growing global geriatric population and the rising occurrence of various chronic medical disorders, such as diabetes, hypertension, dementia, cardiovascular diseases, and osteoporosis, represent one of the key factors increasing the consumption of medicines. In addition, the increasing frequency of lifestyle, respiratory and cardiovascular infections, and neurological and oncological diseases are resulting in the increasing sales of drugs worldwide. This, in turn, is creating a positive market outlook. In line with this, the rising prevalence of Adverse Drug Reactions (ADRs), coupled with the incorporation of advanced ADR reporting tools, is supporting the market growth. Apart from this, the expansion of hospitals, clinics, laboratories, and medical research centers is catalyzing the demand for medications and medical devices across the globe. Moreover, governments of various countries are implementing several initiatives to improve healthcare infrastructure and pharmacovigilance services and maintain medical databases, which is strengthening the market growth. Furthermore, leading market players are focusing on outsourcing pharmacovigilance operations (PVO) and introducing cloud-based medical information systems for optimal accuracy, cost efficiency, risk mitigation, domain, improved timelines, and organizational agility, which is anticipated to drive the market.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2022-2027).
Market Summary:
Breakup by Type:
• Spontaneous Reporting
• Intensified ADR Reporting
• Targeted Spontaneous Reporting
• Cohort Event Monitoring
• EHR Mining
Breakup by Product:
• Books
• Online Media
• Journals
Breakup by End User:
• Hospitals
• Research Organization
Breakup by Region:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
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Competitive Landscape with Key Players:
ArisGlobal
Cognizant Technology Solutions Corporation
Ergomed Plc
F. Hoffmann-La Roche Ltd.
Icon Plc
Parexel International Corporation
Pharmaceutical Product Development Inc.
• Wipro Ltd.
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