Post-marketing Pharmacovigilance And Medical Information Market To Reach $10.50 Trillion By 2030

Post-Marketing Pharmacovigilance And Medical Information Market Growth & Trends

The global post-marketing pharmacovigilance and medical information market size is expected to reach USD 10.50 trillion by 2030, registering a CAGR of 9.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing prevalence of Adverse Drug Reactions (ADRs) coupled with incorporation of advanced ADR reporting tools is responsible for the overall growth of the post-marketing pharmacovigilance and medical information market. Increased drug consumption can be attributed to rising prevalence of chronic diseases such as tuberculosis that involve multiple drug regimes. 

Rising government initiatives for improvement of pharmacovigilance services and maintenance of medical databases are also responsible for inducing overall growth of post-marketing pharmacovigilance and medical information market. For instance, in December 2015, the USAID Systems for Improved Access to Pharmaceuticals and Services (SIAPS) launched PViMS tool to improve drug safety monitoring in low and middle income countries by helping clinicians, researchers, and regulatory authorities to collect, analyze, and monitor ADRs. 

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Post-Marketing Pharmacovigilance And Medical Information Market Report Highlights

• Spontaneous reporting dominated the post-marketing pharmacovigilance market in terms of revenue share as of 2023 and accounted for over 35.0% of market owing to wide usage in reporting of unknown and suspected ADRs. Preference of healthcare professionals and researchers towards this method is also responsible for the overall growth of this segment.

• Cohort event monitoring is anticipated to be the fastest growing in post-marketing pharmacovigilance owing to application in all types of clinical events. Moreover, associated benefits such as early detection, high accuracy, and cost-efficiency are also anticipated to be the growth inducing factors.

• Hospitals held the dominant share of end-use segment as a consequence of low costs associated with hospital based post-marketing pharmacovigilance surveillance. Research organizations segment is anticipated to show significant growth rate in coming years owing to streamlining of R&D in developing of new medicines and improving risk management through early prognosis of ADRs. 

Post-Marketing Pharmacovigilance And Medical Information Market Segmentation

Grand View Research has segmented the global post-marketing pharmacovigilance and medical information market based on service, end-use, and region:

Post-marketing Pharmacovigilance And Medical Information Service Outlook (Revenue, USD Billion, 2018 - 2030)

• Spontaneous reporting

• Intensified ADR reporting

• Targeted spontaneous reporting

• Cohort event monitoring

• EHR mining

Post-marketing Pharmacovigilance And Medical Information End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Hospitals

• Research Organizations

• Others

Post-marketing Pharmacovigilance And Medical Information Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• MEA

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait 

List of Key Players in the Post-marketing Pharmacovigilance And Medical Information Market

• IQVIA Inc

• Parexel International (MA) Corporation

• Laboratory Corporation of America Holdings

• ICON plc

• Syneos Health

• Accenture

• Cognizant

• F. Hoffmann-La Roche Ltd

• Sanofi

• ArisGlobal

• Ergomed Group

• Medpace

• IBM Corporation

• Wipro

• Capgemini