Mexico Pharmacovigilance Market Size & Outlook, 2023-2030
Mexico pharmacovigilance market, 2018-2030 (US$M)
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Mexico pharmacovigilance market highlights
- The Mexico pharmacovigilance market generated a revenue of USD 91.4 million in 2023 and is expected to reach USD 140.0 million by 2030.
- The Mexico market is expected to grow at a CAGR of 6.3% 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 91.4 million |
| Market revenue in 2030 | USD 140.0 million |
| Growth rate | 6.3% (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, Mexico accounted for 1.2% 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 Latin America, Brazil pharmacovigilance market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in Latin America and is projected to reach USD 140.0 million by 2030.
Phase 4 was the largest segment with a revenue share of 75.82% in 2023. Horizon Databook has segmented the Mexico 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 presence of favorable initiatives, such as the NAFTA agreement, undertaken by private and public organizations has fueled the growth in the adoption of PV services in this region. Furthermore, the presence of MAHs facilitates monitoring of drug safety and prevents misuse of medical information as well as ensures accurate reporting of ADRs. These factors are anticipated to provide growth potential for the market in this region.
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Pharmacovigilance Market Scope
Pharmacovigilance Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico pharmacovigilance market size, by product life cycle, 2018-2030 (US$M)
Mexico Pharmacovigilance Market Outlook Share, 2023 & 2030 (US$M)
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