Russia Pharmacovigilance Market Size & Outlook, 2023-2030
Russia pharmacovigilance market, 2018-2030 (US$M)
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Russia pharmacovigilance market highlights
- The Russia pharmacovigilance market generated a revenue of USD 133.0 million in 2023 and is expected to reach USD 189.1 million by 2030.
- The Russia market is expected to grow at a CAGR of 5.2% 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 133.0 million |
| Market revenue in 2030 | USD 189.1 million |
| Growth rate | 5.2% (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, Russia accounted for 1.8% 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 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 75.71% in 2023. Horizon Databook has segmented the Russia 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.
Russia’s pharmacovigilance market is expected to exhibit steady growth over the forecast period. The drug safety and efficiency system in this region is controlled by the Federal Service on Surveillance. According to a report by AIS-Roszdravnadzor system, almost 797 clinical studies were conducted in Russia in 2021. Major drivers for growth include an increase in the incidence of adverse reactions and the number of safety update reports.
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Pharmacovigilance Market Scope
Pharmacovigilance Market Companies
| Name | Profile | # Employees | HQ | Website |
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Russia pharmacovigilance market size, by product life cycle, 2018-2030 (US$M)
Russia Pharmacovigilance Market Outlook Share, 2023 & 2030 (US$M)
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