Brazil Pharmacovigilance Market Size & Outlook, 2023-2030
Brazil pharmacovigilance market, 2018-2030 (US$M)
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Brazil pharmacovigilance market highlights
- The Brazil pharmacovigilance market generated a revenue of USD 178.3 million in 2023 and is expected to reach USD 270.3 million by 2030.
- The Brazil market is expected to grow at a CAGR of 6.1% from 2024 to 2030.
- In terms of segment, phase 4 was the largest revenue generating product life cycle in 2023.
- Phase 3 is the most lucrative product life cycle segment registering the fastest growth during the forecast period.
Pharmacovigilance market data book summary
| Market revenue in 2023 | USD 178.3 million |
| Market revenue in 2030 | USD 270.3 million |
| Growth rate | 6.1% (CAGR from 2023 to 2030) |
| Largest segment | Phase 4 |
| Fastest growing segment | Phase 3 |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Pre Clinical, Phase 1, Phase 2, Phase 3, Phase 4 |
| Key market players worldwide | Accenture PLC Class A, IQVIA Holdings Inc, Cognizant Technology Solutions Corp Class A, Linical Americas, International Business Machines Corp, Labcorp Holdings Inc, ArisGlobal, Capgemini SE, ITClinical, Icon PLC, TAKE Solutions, PAREXEL, Wipro Ltd ADR, United Biosource Corporation, FMD K&L, BioClinica |
Other key industry trends
- In terms of revenue, Brazil accounted for 2.4% of the global pharmacovigilance market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil pharmacovigilance market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in Latin America and is projected to reach USD 140.0 million by 2030.
Phase 4 was the largest segment with a revenue share of 75.88% in 2023. Horizon Databook has segmented the Brazil pharmacovigilance market based on pre clinical, phase 1, phase 2, phase 3, phase 4 covering the revenue growth of each sub-segment from 2018 to 2030.
The development of healthcare infrastructure and the rise in government initiatives to strengthen pharmacovigilance activities by agencies, such as ANVISA, are contributing to the overall market growth in Latin America.
Moreover, the increasing prevalence of chronic diseases and the rising investments in pharmaceutical manufacturers for drug development are driving the market in Brazil. Furthermore, increasing number of ADR reports in the country is expected to drive the market over the forecast period.
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Pharmacovigilance Market Scope
Pharmacovigilance Market Companies
| Name | Profile | # Employees | HQ | Website |
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Brazil pharmacovigilance market size, by product life cycle, 2018-2030 (US$M)
Brazil Pharmacovigilance Market Outlook Share, 2023 & 2030 (US$M)
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