Kuwait Pharmacovigilance Market Size & Outlook, 2023-2030
Kuwait pharmacovigilance market, 2018-2030 (US$M)
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Kuwait pharmacovigilance market highlights
- The Kuwait pharmacovigilance market generated a revenue of USD 5.5 million in 2023 and is expected to reach USD 8.7 million by 2030.
- The Kuwait market is expected to grow at a CAGR of 6.6% 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 5.5 million |
| Market revenue in 2030 | USD 8.7 million |
| Growth rate | 6.6% (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, Kuwait accounted for 0.1% 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 Middle East & Africa, South Africa pharmacovigilance market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 49.0 million by 2030.
Phase 4 was the largest segment with a revenue share of 76.36% in 2023. Horizon Databook has segmented the Kuwait 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 Kuwait is anticipated to exhibit steady growth over the forecast period. The market growth can be attributed to the increasing prevalence of chronic diseases in the country. Moreover, ease of access to healthcare services has increased the demand for clinical trials and drug development. In addition, rising government efforts for the development of healthcare infrastructure are anticipated to fuel the market growth over the forecast period.
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Pharmacovigilance Market Scope
Pharmacovigilance Market Companies
| Name | Profile | # Employees | HQ | Website |
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Kuwait pharmacovigilance market size, by product life cycle, 2018-2030 (US$M)
Kuwait Pharmacovigilance Market Outlook Share, 2023 & 2030 (US$M)
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