Japan Pharmacovigilance Market Size & Outlook, 2023-2030
Japan pharmacovigilance market, 2018-2030 (US$M)
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Japan pharmacovigilance market highlights
- The Japan pharmacovigilance market generated a revenue of USD 277.8 million in 2023 and is expected to reach USD 499.8 million by 2030.
- The Japan market is expected to grow at a CAGR of 8.8% 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 277.8 million |
| Market revenue in 2030 | USD 499.8 million |
| Growth rate | 8.8% (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, Japan accounted for 3.8% 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 75.81% in 2023. Horizon Databook has segmented the Japan 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 Japan is expected to grow over the forecast period owing to various factors, such as the increasing prevalence of chronic diseases and high drug consumption. Furthermore, an increase in commercial R&D activities for drug development is expected to boost the market over the forecast period.
The Japan Medical Association Centre for Clinical Trials (JMACCT) has undertaken a “Large Scale Clinical Trial Network Project,” which is a clinical trial promotion project aimed at implementing educational projects to increase awareness regarding clinical trials and promote clinical trial networks. Moreover, this project is funded by the Ministry of Health, Labour and Welfare (MHLW).
The JMACCT also provides support for investigator-initiated clinical trials through grant schemes subsidized by MHLW. These favorable healthcare policies and government initiatives are anticipated to aid in driving 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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Japan pharmacovigilance market size, by product life cycle, 2018-2030 (US$M)
Japan Pharmacovigilance Market Outlook Share, 2023 & 2030 (US$M)
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