Discover a detailed exploration of the Drug Safety Solutions and Pharmacovigilance Market by Data Bridge Market Research, thoughtfully presented with visual finesse to ensure seamless data absorption. Crucial insights are illuminated through vivid graphs, charts, and figures, empowering astute decision-making.
The insights, statistics, and data within this Drug Safety Solutions and Pharmacovigilance market report serve as a compass for companies, guiding their production decisions based on demand conditions, maximizing efficiencies, and optimizing each stage in the industrial lifecycle—from engagement and acquisition to retention and monetization. Embedded within this report is an in-depth investment analysis that foresees forthcoming opportunities for market players within this industry. Offering a comprehensive overview, this report spans market analysis, product definitions, segmentation, key developments, and the prevailing vendor landscape.
This Drug Safety Solutions and Pharmacovigilance market research report stands as a meticulous analysis of the current market scenario, encapsulating a multitude of market dynamics. Categorizing information by companies, regions, types, and end-use industries, it furnishes a detailed market landscape. The competitive analysis sheds light on strategies employed by major market players, spanning from new product launches to expansions, agreements, joint ventures, partnerships, and acquisitions, all contributing to their market footprint. Each parameter undergoes thorough research to yield enhanced and actionable market insights. With unwavering dedication, this superior, transparent, and all-encompassing Drug Safety Solutions and Pharmacovigilance market report is offered to clients, extending their reach toward the pathway of success.
Data Bridge Market Research analyses that the drug safety solutions and pharmacovigilance market which was USD 7.8 billion in 2022, is expected to reach USD 13.91 billion by 2030, at a CAGR of 7.50% during the forecast period 2023 to 2030.
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Market Growth Drivers:
- Rising regulatory mandates on clinical trials
Regulatory mandates on clinical trial conduct and post-marketing vigilance are driving the demand for PV services. For instance, the European Medicines Agency (EMA) and the United States Food and Drug Administration (FDA) develop regulatory guidelines for all stages of clinical trials. Advances in the development of ADR databases and information systems enabled the reporting of accurate information, which research professionals can then use for prospective studies, thereby fuelling overall demand.
- Increased new product development activities
The biotechnology segment is expected to grow profitably because of increased new product development activities in this sector. Drugs have been developed and consumed at an increasing rate in recent years. Long-term drug use by a large population can result in adverse effects not seen in clinical trials. For instance, Vioxx (an osteoarthritic/acute pain medication) and Avandia (an anti-diabetic) were on the market for quite some time before a pattern of safety issues with their use was discovered. The segment is also expected to be driven by regulatory authorities' growing need for medical information.
Notably, the report emphasizes the engagement of essential entities, including:
PPD Inc (U.S.), Drug Safety Solutions Limited (U.S.), C3i (U.S.), Worldwide Clinical Trials (U.S.), Bioclinica (U.S.), United Biosource LLC (U.S.), Ennov (Hong Kong), AB Cube S.A.S. (France), Labcorp Drug Development (U.S.), Accenture (Ireland), ICON plc (U.S.), Ergomed plc (U.K.), IQVIA (U.S.), Genpact (U.S.), Cognizant (U.S.), Parexel International Corporation (U.S.), ArisGlobal (U.S.)
Key highlights of the report:
- Comprehensive analysis of the global Drug Safety Solutions and Pharmacovigilance market, detailing present and future trends to identify promising investment opportunities.
- Exploration of evolving market dynamics within the industry.
- Examination of strategies adopted by major players and their product portfolios.
- Detailed breakdown of market segments for a profound understanding.
- Review of the latest industry trends and advancements.
- Forecasting the trajectory of the Drug Safety Solutions and Pharmacovigilance market through detailed segmentation analysis
Key Market Segmentation
Type (Software, Services), Product (Standard Form, Customized Form), Functionality (Adverse Event Reporting Software, Drug Safety Audits Software, Issue Tracking Software), Delivery (On-Premise Delivery Mode, On-Demand/Cloud-Based (SAAS) Delivery Mode), End Users (Biotechnology and Pharmaceuticals, Contract Research Organizations (CROS), Hospitals, KPOs/BPOs, Healthcare Providers), Distribution Channel (Direct Sales, Retail Sales)
Intended Audience:
- Companies within the Drug Safety Solutions and Pharmacovigilance industry
- Investors and analysts keen on the Drug Safety Solutions and Pharmacovigilance market
- Individuals seeking insights into the dynamics of the Drug Safety Solutions and Pharmacovigilance market
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