Europe Pharmacovigilance Market Size & Outlook, 2025-2030
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Europe pharmacovigilance market highlights
- The Europe pharmacovigilance market generated a revenue of USD 2,072.4 million in 2024.
- The market is expected to grow at a CAGR of 6.9% from 2025 to 2030.
- In terms of segment, phase 4 was the largest revenue generating product life cycle in 2024.
- Phase 3 is the most lucrative product life cycle segment registering the fastest growth during the forecast period.
- Country-wise, Italy is expected to register the highest CAGR from 2025 to 2030.
Europe data book summary
| Market revenue in 2024 | USD 2,072.4 million |
| Market revenue in 2030 | USD 3,130.6 million |
| Growth rate | 6.9% (CAGR from 2025 to 2030) |
| Largest segment | Phase 4 |
| Fastest growing segment | Phase 3 |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Phase 2, Phase 1, Phase 3, Phase 4, Pre Clinical |
| 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, Europe region accounted for 26.1% of the global pharmacovigilance market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,981.3 million by 2030.
Phase 4 was the largest segment with a revenue share of 82.33% in 2024. Horizon Databook has segmented the Europe pharmacovigilance market based on phase 2, phase 1, phase 3, phase 4, pre clinical covering the revenue growth of each sub-segment from 2018 to 2030.
Europe is a favorable market for conducting phase I clinical trials due to the presence of a large foreign population, highly qualified staff, better quality of services & infrastructure, and ability to handle multiple-country clinical trials. According to WHO, 16,256 clinical trials were registered in 2020, the majority of which were by the European pharmaceutical industry.
This indicates the growth potential for PV services in this region. Rising demand for clinical trials and the need for novel drug development as a consequence of the rapidly growing geriatric population and increasing number of pharmaceutical and biotechnology firms are some of the high-impact rendering drivers of this market. Moreover, 3.5 million ADR reports were received by EudraVigilance in 2021, demonstrating a 93% increase in ADREs than the previous year.
Owing to the increase in mortality due to ADRs, the focus on adopting a proactive approach to ensure patient safety in Europe is growing. The European Medicine Agency (EMA) formulated the Risk Management Plan (RMP) for the governance of the PV system.
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Pharmacovigilance Market Scope
Pharmacovigilance Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| BioClinica | View profile | 1001-5000 | Newtown, Pennsylvania, United States, North America | http://www.bioclinica.com |
| FMD K&L | View profile | 51-100 | Fort Washington, Pennsylvania, United States, North America | https://clinchoice.com |
| United Biosource Corporation | View profile | 1001-5000 | Bethesda, Maryland, United States, North America | http://ubc.com |
| ITClinical | View profile | 11-50 | Lisboa, Lisboa, Portugal, Europe | https://itclinical.com/ |
| Linical Americas | View profile | 501-1000 | Stuart, Florida, United States, North America | https://www.linicalamericas.com |
| TAKE Solutions | View profile | 1001-5000 | Princeton, New Jersey, United States, North America | http://www.takesolutions.com |
| Capgemini SE | View profile | 340400 | 11 rue de Tilsitt, Paris, France, 75017 | https://www.capgemini.com |
| ArisGlobal | View profile | 1001-5000 | Coral Gables, Florida, United States, North America | https://www.arisglobal.com |
| PAREXEL | View profile | 10001+ | Waltham, Massachusetts, United States, North America | http://www.parexel.com |
| IQVIA Holdings Inc | View profile | 87000 | 2400 Ellis Road, Durham, NC, United States, 27703 | https://www.iqvia.com |
| Icon PLC | View profile | 41150 | South County Business Park, Leopardstown, Dublin, Ireland, D18 X5R3 | https://www.iconplc.com |
| Labcorp Holdings Inc | View profile | 67000 | 358 South Main Street, Burlington, NC, United States, 27215 | https://www.labcorp.com |
| Cognizant Technology Solutions Corp Class A | View profile | 344400 | 300 Frank West Burr Boulevard, Suite 36, 6th Floor, Teaneck, NJ, United States, 07666 | https://www.cognizant.com |
| Accenture PLC Class A | View profile | 742000 | 1 Grand Canal Square, Grand Canal Harbour, Dublin, Ireland, 2 | https://www.accenture.com |
| Wipro Ltd ADR | View profile | 244707 | Sarjapur Road, Doddakannelli, Bangalore, KA, India, 560 035 | https://www.wipro.com |
| International Business Machines Corp | View profile | 282200 | One New Orchard Road, Armonk, NY, United States, 10504 | http://www.ibm.com |
Europe pharmacovigilance market size, by country, 2018-2030 (US$M)
Europe Pharmacovigilance Market Outlook Share, 2024 & 2030 (US$M)
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