Sweden Pharmacovigilance Market Size & Outlook, 2023-2030
Sweden pharmacovigilance market, 2018-2030 (US$M)
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Sweden pharmacovigilance market highlights
- The Sweden pharmacovigilance market generated a revenue of USD 96.3 million in 2023 and is expected to reach USD 159.7 million by 2030.
- The Sweden market is expected to grow at a CAGR of 7.5% 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.
Pharmacovigilance market data book summary
| Market revenue in 2023 | USD 96.3 million |
| Market revenue in 2030 | USD 159.7 million |
| Growth rate | 7.5% (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, Sweden accounted for 1.3% 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 76.01% in 2023. Horizon Databook has segmented the Sweden 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 market growth in Sweden can be attributed to the increasing demand for clinical trials. Rising government efforts in the form of funding and policies for the development of the healthcare sector are contributing to the rising demand PV services. For instance, according to Swedish Institute, the cost of healthcare accounts for 11% of the GDP every year.
Moreover, increasing ADR reports in the country are expected to fuel the demand for PV services over the forecast period. For instance, according to a study conducted by eClinical Medicine, ADRs in women alone accounted for 155,321 reports in 2019.
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Pharmacovigilance Market Scope
Pharmacovigilance Market Companies
| Name | Profile | # Employees | HQ | Website |
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Sweden pharmacovigilance market size, by product life cycle, 2018-2030 (US$M)
Sweden Pharmacovigilance Market Outlook Share, 2023 & 2030 (US$M)
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