North America Pharmacovigilance Market Size & Outlook
North America pharmacovigilance market, 2018-2030 (US$M)
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North America pharmacovigilance market highlights
- The North America pharmacovigilance market generated a revenue of USD 2,382.0 million in 2023.
- The market is expected to grow at a CAGR of 5.5% 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.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 2,382.0 million |
| Market revenue in 2030 | USD 3,473.5 million |
| Growth rate | 5.5% (CAGR from 2023 to 2030) |
| Largest segment | Phase 4 |
| Fastest growing segment | Phase 3 |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, North America region accounted for 32.6% of the global pharmacovigilance market in 2023.
- 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 75.86% in 2023. Horizon Databook has segmented the North America 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.
North America comprises the U.S. and Canada. North America pharmacovigilance market accounted for the largest revenue share in 2022 owing to the presence of favorable government regulations and presence of large-scale research units as well as high clinical trial volume.
Furthermore, growing patient awareness and concerns related to the safety of drugs are expected to positively impact the market during the forecast period. Moreover, local presence of key market players in this region, which undertake strategic initiatives, such as new product launches and mergers & acquisitions, is expected to make this a lucrative market.
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Pharmacovigilance Market Scope
Pharmacovigilance Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America pharmacovigilance market size, by country, 2018-2030 (US$M)
North America Pharmacovigilance Market Outlook Share, 2023 & 2030 (US$M)
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