Denmark Pharmacovigilance Market Size & Outlook, 2023-2030
Denmark pharmacovigilance market, 2018-2030 (US$M)
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Denmark pharmacovigilance market highlights
- The Denmark pharmacovigilance market generated a revenue of USD 77.3 million in 2023 and is expected to reach USD 126.5 million by 2030.
- The Denmark market is expected to grow at a CAGR of 7.3% from 2024 to 2030.
- In terms of segment, phase 4 was the largest revenue generating product life cycle in 2023.
- Phase 1 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 77.3 million |
| Market revenue in 2030 | USD 126.5 million |
| Growth rate | 7.3% (CAGR from 2023 to 2030) |
| Largest segment | Phase 4 |
| Fastest growing segment | Phase 1 |
| 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, Denmark accounted for 1.1% 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 Europe, Germany pharmacovigilance market is projected to lead the regional market in terms of revenue in 2030.
- Spain is the fastest growing regional market in Europe and is projected to reach USD 232.0 million by 2030.
Phase 4 was the largest segment with a revenue share of 75.68% in 2023. Horizon Databook has segmented the Denmark 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 pharmacovigilance market in Denmark is expected to grow over the forecast period owing to the increased use of biologicals and biosimilars. According to a study published by the European Journal of Clinical Pharmacology in 2021, Denmark had the most thorough and fastest uptake of trastuzumab biosimilar compared to other European nations.
Moreover, the market share of trastuzumab increased by 90% in the country just after 3 months of its implementation.
The government's funding and support of digital health projects have accelerated PV development & adoption in the country. For instance, in 2022, Denmark was ranked 7th in the World Index of Healthcare Innovation with an overall score of 52.41, moving from 11th in 2021 and 14th in 2020. This number indicates growing innovations and advancements in healthcare technologies in the country.
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Pharmacovigilance Market Scope
Pharmacovigilance Market Companies
| Name | Profile | # Employees | HQ | Website |
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Denmark pharmacovigilance market size, by product life cycle, 2018-2030 (US$M)
Denmark Pharmacovigilance Market Outlook Share, 2023 & 2030 (US$M)
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