China Pharmacovigilance Market Size & Outlook, 2023-2030
China pharmacovigilance market, 2018-2030 (US$M)
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China pharmacovigilance market highlights
- The China pharmacovigilance market generated a revenue of USD 623.5 million in 2023 and is expected to reach USD 1,112.9 million by 2030.
- The China market is expected to grow at a CAGR of 8.6% 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 623.5 million |
| Market revenue in 2030 | USD 1,112.9 million |
| Growth rate | 8.6% (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, China accounted for 8.5% 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 Asia Pacific, China pharmacovigilance market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 340.5 million by 2030.
Phase 4 was the largest segment with a revenue share of 75.89% in 2023. Horizon Databook has segmented the China 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.
China is the largest market for PV services in the Asia Pacific region due to the increasing incidence of ADRs, rising healthcare expenditure, and favorable government initiatives. According to NMPA, around 97% of country-level regions reported ADR.
Moreover, the presence of various nonprofit organizations, such as the Chinese Clinical Trial Registry (ChiCTR), which provides consultation for trial design, peer review for draft articles, etc., is contributing to the market growth in this region.
The growth of the biotechnology sector, along with government incentives for local pharmaceutical companies to adopt PV practices, is expected to propel the market growth over the forecast period. Owing to the development of the economy and growing disposable income, China is expected to be the fastest-growing market in the Asia Pacific region.
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Pharmacovigilance Market Scope
Pharmacovigilance Market Companies
| Name | Profile | # Employees | HQ | Website |
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China pharmacovigilance market size, by product life cycle, 2018-2030 (US$M)
China Pharmacovigilance Market Outlook Share, 2023 & 2030 (US$M)
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