Germany Pharmacovigilance Market Size & Outlook, 2023-2030
Germany pharmacovigilance market, 2018-2030 (US$M)
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Germany pharmacovigilance market highlights
- The Germany pharmacovigilance market generated a revenue of USD 479.8 million in 2023 and is expected to reach USD 808.7 million by 2030.
- The Germany market is expected to grow at a CAGR of 7.7% 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 479.8 million |
| Market revenue in 2030 | USD 808.7 million |
| Growth rate | 7.7% (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, Germany accounted for 6.6% 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 75.97% in 2023. Horizon Databook has segmented the Germany 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.
Germany is the largest contributor to the Europe pharmacovigilance market. High number of incentive policies to support and undertake clinical trials is a major driver of the market. The presence of government bodies, such as Deutsche Forschungsgemeinschaft (DFG), which is a German research funding organization that offers funds for clinical trials, is expected to further propel the market growth.
The Federal Institute for Drug and Medical Devices (BfArM) has also launched a database UAW-DB, which publishes the suspected adverse effects of all drugs and active substances along with suspected cases of ADRs in Germany since 1995. This initiative is in line with BfArM’s plan to streamline the regulatory process in Germany. Such initiatives are expected to propel the industry growth in the coming years.
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Pharmacovigilance Market Scope
Pharmacovigilance Market Companies
| Name | Profile | # Employees | HQ | Website |
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Germany pharmacovigilance market size, by product life cycle, 2018-2030 (US$M)
Germany Pharmacovigilance Market Outlook Share, 2023 & 2030 (US$M)
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