According to a new market research report published by sheer analytics and insights, “The Global Pharmacovigilance Market was $6.9 Bn in 2020, and it is expected to reach $21.4 Bn by 2031. It is eventually growing at a commendable high compound annual growth rate CAGR of 10.1% between 2021-2031”, as per the latest market research report titled, Global Pharmacovigilance Market- Industry analysis, size, share, growth, trends and forecast, 2021 – 2031.
Increased cases of chronic diseases like diabetes, oncological diseases, cardiovascular and respiratory disorders have led to the consumption of the drug across the world. Also the increased incidences of Adverse Drug Reactions ADRs) will help to accelerate the growth of this market during the forecasted period. also, the demand for the development of new drugs via extensive clinical trials has increased. But because of the current COVID-19 pandemic, there has been an adverse effect on the market.
Geographically, The Global Pharmacovigilance Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.
The primary key players in the Global Pharmacovigilance Market include Accenture, Linical Accelovance, Cognizant, Laboratory Corporation of America Holdings, IBM Corporation, ArisGlobal, ICON plc., Capgemini, ITClinical, FMD K&L, IQVIA, TAKE Solutions Ltd., PAREXEL International Corporation, BioClinica Inc., Wipro Ltd., United BioSource Corporation.
The Global Pharmacovigilance Market Has Been Segmented Into:
Global Pharmacovigilance Market, By Service Provider
Global Pharmacovigilance Market, By Product Life Cycle
Global Pharmacovigilance Market, By Type
Global Pharmacovigilance Market, By Process Flow
Global Pharmacovigilance Market, By Therapeutic Area
Global Pharmacovigilance Market, By End-Use
Global Pharmacovigilance Market, By Region