South Africa Pharmacovigilance Market Size & Outlook
South Africa pharmacovigilance market, 2018-2030 (US$M)
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South Africa pharmacovigilance market highlights
- The South Africa pharmacovigilance market generated a revenue of USD 43.9 million in 2023 and is expected to reach USD 70.2 million by 2030.
- The South Africa market is expected to grow at a CAGR of 6.9% 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 43.9 million |
| Market revenue in 2030 | USD 70.2 million |
| Growth rate | 6.9% (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, South Africa accounted for 0.6% 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 75.85% in 2023. Horizon Databook has segmented the South Africa 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.
South Africa is the only country in Africa with a drug use surveillance system based on treatment demand (the South African Community Epidemiology Network on Drug Use – SACENDU). Owing to the initiatives undertaken by government regulatory bodies, the pharmacovigilance market in South Africa is anticipated to grow over the forecast period. Furthermore, supportive government initiatives for improving public health, such as Institute for Healthcare Improvement (IHI), are fueling the market growth.
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Pharmacovigilance Market Scope
Pharmacovigilance Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa pharmacovigilance market size, by product life cycle, 2018-2030 (US$M)
South Africa Pharmacovigilance Market Outlook Share, 2023 & 2030 (US$M)
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