Thailand Pharmacovigilance Market Size & Outlook
Thailand pharmacovigilance market, 2018-2030 (US$M)
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Thailand pharmacovigilance market highlights
- The Thailand pharmacovigilance market generated a revenue of USD 105.8 million in 2023 and is expected to reach USD 187.9 million by 2030.
- The Thailand market is expected to grow at a CAGR of 8.5% from 2024 to 2030.
- In terms of segment, phase 4 was the largest revenue generating product life cycle in 2023.
- Phase 4 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 105.8 million |
| Market revenue in 2030 | USD 187.9 million |
| Growth rate | 8.5% (CAGR from 2023 to 2030) |
| Largest segment | Phase 4 |
| Fastest growing segment | Phase 4 |
| 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, Thailand accounted for 1.4% 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 Asia Pacific, China pharmacovigilance market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 340.5 million by 2030.
Phase 4 was the largest segment with a revenue share of 75.9% in 2023. Horizon Databook has segmented the Thailand 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 increasing prevalence of chronic diseases and rising preference for Thailand as a medical tourism destination has increased the demand for safety monitoring and clinical trials of pharmaceuticals in the region. Furthermore, increasing government support in the form of initiatives and funding for the development of the healthcare sector is creating opportunities for market growth over the forecast period.
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Pharmacovigilance Market Scope
Pharmacovigilance Market Companies
| Name | Profile | # Employees | HQ | Website |
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Thailand pharmacovigilance market size, by product life cycle, 2018-2030 (US$M)
Thailand Pharmacovigilance Market Outlook Share, 2023 & 2030 (US$M)
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