Global Pharmacovigilance Market - Focus on Increased R&D Activities to Develop Better Pharmacovigilance Services

DUBLIN, March 30, 2020 /PRNewswire/ -- The "Pharmacovigilance Market Size, Share & Trends Analysis Report by Clinical Trial Phase (Pre-Clinical, Phase I, II, III, IV), by Service Provider (In-House, Contract Outsourcing), by Type, by End Use, and Segment Forecasts, 2020 - 20" report has been added to ResearchAndMarkets.com's offering.

According to the World Health Organization's report on pharmaceutical consumption, medicines to treat chronic diseases accounted for a larger proportion of the total volume of drug consumption in non-hospital setups. Hence, there has been a significant rise in the number of medicines made available to healthcare consumers. Rising demand for drugs has significantly heightened the need for the development of novel therapeutics via extensive clinical trials, which is expected to serve this market with lucrative opportunities.

Moreover, leading pharma companies in developed countries are focusing on outsourcing PV services to reduce cost and to minimize operational expenses. This is anticipated to serve as an opportunity for contact research organizations in developing regions to gain more revenue share. Manufacturers are now focusing on remodeling their product development processes in an attempt to cater to patient needs across the globe. These factors are anticipated to fuel the demand for pharmacovigilance services during the forecast period.

The companies operating in the pharmacovigilance market are undertaking strategic initiatives, such as collaborations with the PV service providers to gain access to medical information and to manage PV workflows. For instance, in September 2019, Accenture collaborated with Bayer to implement the company's INTIENT Clinical platform to simplify and speed its drug development processes, thereby widening business. The company collaborated with BioCelebrate in 2017 to develop a platform for aggregating and analyzing clinical information for improved drug developing efficiency, thus enhancing its R&D capabilities. Such initiatives help companies maintain their market position.

Further key findings from the study suggest:

• Phase IV held a dominant market share in 2019 owing to the extensive post-marketing surveillance of pharmaceuticals and increasing ADR incidences
• In the service provider segment, contract outsourcing held a significant market share of around 57% in 2019, owing to the shift in focus of pharmaceutical companies toward outsourcing services to reduce operational cost
• Based on type, spontaneous reporting held the largest revenue share in 2019, due to the wide application of the product in pharmacovigilance along with benefits such as easy simulation of data sets for better drug comparison
• Research organizations segment is anticipated to exhibit lucrative CAGR of 13.3% over the forecast period owing to increasing R&D for the development of novel biologics and medical devices
• Asia Pacific pharmacovigilance market is anticipated to showcase lucrative CAGR in the forthcoming years, attributed to the availability of low-cost labor and rising number of outsourcing companies in this region
• Market participants are focusing on increasing R&D activities to develop better pharmacovigilance services. Moreover, they are adopting strategies such as new product launch, collaborations, and mergers and acquisitions to gain competitive advantage

Key Topics Covered:

Chapter 1 Research Methodology & Scope

Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Outlook
2.4 Pharmacovigilance Market Summary, 2019

Chapter 3 Pharmacovigilance Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 User Perspective Analysis
3.4 List of Key End Users
3.5 Regulatory Framework
3.6 Technology Overview
3.7 Pharmacovigilance Market Dynamics
3.8 Industry Analysis - Porter's
3.9 Pharmacovigilance - SWOT Analysis, by Factor (Political & Legal, Economic, Social and Technological)
3.10 Major Deals & Strategic Alliances Analysis

Chapter 4 Pharmacovigilance Market: Competitive Analysis
4.1 Market Participation Categorization
4.2 Public Companies

Chapter 5 Pharmacovigilance Market: Process Flow Insights
5.1 Case data management
5.2 Signal detection
5.3 Risk management system

Chapter 6 Pharmacovigilance Market: Product Estimates & Trend Analysis
6.1 Product Market Share Analysis, 2019 & 2027
6.2 Product Dashboard

Chapter 7 Pharmacovigilance Market: Service provider Estimates & Trend Analysis
7.1 Service provider Market Share Analysis, 2019 & 2027
7.2 Service Provider Dashboard
7.3 In house
7.4 Contract outsourcing

Chapter 8 Pharmacovigilance Market: Type Estimates & Trend Analysis
8.1 Type Market Share Analysis, 2019 & 2027
8.2 Type Dashboard
8.3 Spontaneous Reporting
8.4 Intensified ADR Reporting
8.5 Targeted spontaneous reporting
8.6 Cohort Event Monitoring (CEM)
8.7 EHR Mining

Chapter 9 Pharmacovigilance Market: End-Use Estimates & Trend Analysis
9.1 End-Use Market Share Analysis, 2019 & 2027
9.2 End-Use Dashboard
9.3 Hospitals
9.4 Research organizations
9.5 Industrial

Chapter 10 Pharmacovigilance Market: Regional Estimates & Trend Analysis, by, Product, Service Providers, Type, and End-Use
10.1 Regional Market Share Analysis, 2019 & 2027
10.2 Regional Market Dashboard
10.3 Regional Market Snapshot
10.4 Market Share Analysis by Country, 2019

Chapter 11 Company Profiles

• Accenture
• Linical Accelovance
• Cognizant
• Laboratory Corporation of America Holdings
• IBM Corporation
• ArisGlobal
• ICON Plc
• Capgemini
• FMD K&L
• IT Clinical
• IQVIA
• TAKE Solutions
• PAREXEL International Corporation
• BioClinica, Inc.
• Wipro Limited
• United BioSource Corporation

For more information about this report visit https://www.researchandmarkets.com/r/77l2om

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