Spain Pharmacovigilance Market Size & Outlook, 2023-2030
Spain pharmacovigilance market, 2018-2030 (US$M)
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Spain pharmacovigilance market highlights
- The Spain pharmacovigilance market generated a revenue of USD 136.6 million in 2023 and is expected to reach USD 232.0 million by 2030.
- The Spain market is expected to grow at a CAGR of 7.9% 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 136.6 million |
| Market revenue in 2030 | USD 232.0 million |
| Growth rate | 7.9% (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, Spain accounted for 1.9% 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 75.99% in 2023. Horizon Databook has segmented the Spain 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 this region is anticipated to witness steady growth over the forecast period owing to presence of developed healthcare infrastructure. The growth can be attributed to the rising incidence of ADRs and increasing prevalence of chronic diseases.
This is fueling the demand for drug development and clinical trials. According to a study published by MDPI in 2021, the prevalence of ADRs during hospitalization ranges from 10% to 19%, whereas the prevalence of ADRs leading to hospitalization varies between 3.5% and 6.2%.
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Pharmacovigilance Market Scope
Pharmacovigilance Market Companies
| Name | Profile | # Employees | HQ | Website |
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Spain pharmacovigilance market size, by product life cycle, 2018-2030 (US$M)
Spain Pharmacovigilance Market Outlook Share, 2023 & 2030 (US$M)
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