Pharmacovigilance Market Revenue was valued at USD 8.5 Billion in 2024 and is estimated to reach USD 12.6 Billion by 2033, growing at a CAGR of 5.8% from 2026 to 2033.
The global pharmacovigilance market size was valued at approximately USD 6.5 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 12.1% from 2023 to 2030. This growth is driven by increasing drug development activities, stringent regulatory requirements, and the rising incidence of adverse drug reactions (ADRs) globally. North America dominated the market in 2022, accounting for nearly 35% of the global market share, supported by well established healthcare infrastructure, advanced pharmacovigilance systems, and robust regulations. Europe held the second largest share due to its strong pharmaceutical industry and regulatory focus on drug safety. The Asia Pacific region is anticipated to exhibit the fastest growth during the forecast period, owing to rising clinical trials and outsourcing activities in emerging economies like India and China.
Opportunities in the pharmacovigilance market are expanding as companies adopt advanced technologies such as artificial intelligence (AI) and machine learning (ML) to enhance drug safety monitoring. Automation in adverse event reporting and the integration of real world data from electronic health records (EHRs) are expected to streamline processes, improve efficiency, and ensure compliance with regulatory standards. Additionally, increasing demand for contract outsourcing services, particularly in emerging markets, is further driving growth. Latin America and the Middle East & Africa are also witnessing rising awareness and adoption of pharmacovigilance practices, presenting untapped potential for market players. With the growing complexity of drug safety and development, the pharmacovigilance market is poised for significant regional diversification and technological innovation in the coming years.
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Eli Lilly and Company
ICON plc
Elsevier
Chiltern
Atlantic Research Group
Mapi Group
Accenture Plc.
Clinquest Group B.V.
GSK
PRA Health Sciences
Inc
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Pharmacovigilance Market
Data Management
Safety Monitoring
Risk Management
Compliance Management
Pharmacovigilance Audits
Clinical Trials
Post-Marketing Surveillance
Product Development
Market Authorization
Regulatory Compliance
Pharmaceutical Companies
Biotechnology Firms
Contract Research Organizations (CROs)
Academic and Research Institutes
Government and Regulatory Bodies
Cloud-Based Solutions
On-Premise Solutions
Mobile Applications
Artificial Intelligence and Machine Learning
Data Analytics Tools
Oncology
Cardiovascular Diseases
Neurology
Infectious Diseases
Autoimmune Disorders
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Pharmacovigilance Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Pharmacovigilance Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Pharmacovigilance Market, By Type
6. Global Pharmacovigilance Market, By Application
7. Global Pharmacovigilance Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Pharmacovigilance Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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