Europe Pharmacovigilance Market Size, Share & Forecast 2028

Report Description

Europe pharmacovigilance market is anticipated to witness robust growth during the forecast period, 2024-2028. The rising concerns regarding drug safety as well as increase in adverse drug reactions (ADR) and drug toxicity are likely to bolster the growth of the market. Increasing acceptance of personalized medicine is also a key factor for the growth of the market. Moreover, stringent regulations towards drug safety and approval are creating the need for pharmacovigilance services in the region. The rise in prevalence of infectious and chronic diseases are leading to increase the consumption of pharmaceutical drugs as well as the drug development rates, which, in turn, is facilitating the growth of the market. In addition, increasing trend of outsourcing pharmacovigilance services is also a contributing factor which is propelling the market’s growth.

According to World Health Organization, pharmacovigilance (PV) is defined as the science and activities relating to the detection, assessment, understanding and prevention of adverse effects or any other drug-related problem. WHO established its Programme for International Drug Monitoring in response to the thalidomide disaster detected in 1961. The aim of pharmacovigilance is to enhance patient care and patient safety in relation to the use of medicines; and to support public health programmes by providing reliable, balanced information for the effective assessment of the risk-benefit profile of medicines.

Increasing Prevalence of Chronic Conditions

Growing incidences and prevalence of chronic diseases such as diabetes, hypertension, cardiovascular diseases, asthma, cancer, among others are likely to strengthen the growth of the market. According to the World Health Organisation (WHO), there are around 60 million people with diabetes in the Europe, out of which 10.3% are men and 9.6% are women aged 25 years and over. Moreover, rising elderly population is also a supporting factor as they are highly susceptible to these diseases. The rising number of cases of chronic diseases in the region is surging the demand for drugs, thereby, fuelling the growth of the market. In 2021, over one fifth (20.8 %) of the Europe population was aged 65 and above.

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Increasing Pharmacovigilance Outsourcing Service

Pharmacovigilance outsourcing is a practice conducted by pharmaceutical or drug manufacturing companies in which drug safety processes are given to third party entity. There is a rapid rise in the adoption of pharmacovigilance outsourcing services, which in turn, is expected to augment the growth of the market. This rapid rise is due to the cost reduction, time constraints, facilities, and flexibility provided to a drug manufacturer. These outsourcing practices also enables to customize as per the requirements, which increase the speed of the evaluation process. Therefore, the rising demand for the pharmacovigilance outsourcing practice by several drug manufacturers are anticipated to drive the growth of the market.

Market Segmentation

Europe pharmacovigilance market is segmented into service provider, product life cycle, type, process flow, therapeutic area, end-use, company, and country. Based on service provider, the market is divided into in-house and contract sourcing. Based on product life cycle, the market is classified into pre-clinical, phase I, phase II, phase III, and phase IV. Based on type, the market is segmented into spontaneous reporting, intensified ADR reporting, targeted spontaneous reporting, cohort event monitoring and EHR mining. Based on process flow, the market is bifurcated into case data management, signal detection, and risk management system. Case data management is further classified into case logging, case data analysis, and medical reviewing & reporting. Signal detection is further divided into adverse event logging, adverse event analysis, and adverse event review & reporting. Risk management system is further categorized into risk evaluation system and risk mitigation system. Based on therapeutic area, the market is segmented into oncology, neurology, cardiology, respiratory systems, and others. Based on end use, the market is bifurcated into pharmaceuticals & biotechnology companies, medical device manufactures, and others.

Market Players

Accenture PLC, Boehringer Ingelheim GmbH, Bristol-Myers Squibb SARL, Clinquest Group B.V., F Hoffmann-La Roche AG, Foresight Group International AG, ICON PLC, GlaxoSmithKline PLC, Novartis AG and Capgemini SE are some of the leading companies in the market.

Attribute	Details
Base Year	2022
Historic Data	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Million and CAGR for 2018-2022 and 2023-2028
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments covered	Service Provider Product Life Cycle Type Process Flow Therapeutic Area End-use Country
Country scope	Germany, France, United Kingdom, Italy, Spain, Netherlands, Belgium, Sweden, Poland, and Greece
Key companies profiled	Accenture PLC, Boehringer Ingelheim GmbH, Bristol-Myers Squibb SARL, Clinquest Group B.V., F Hoffmann-La Roche AG, Foresight Group International AG, ICON PLC, GlaxoSmithKline PLC, Novartis AG and Capgemini SE.
Customization scope	10% free report customization with purchase. Addition or alteration to country, & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, Europe pharmacovigilance market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Europe Pharmacovigilance Market, By Service Provider:

In-house
Contract Outsourcing

Europe Pharmacovigilance Market, By Product Life Cycle:

Pre-clinical
Phase I
Phase II
Phase III
Phase IV

Europe Pharmacovigilance Market, By Type:

Spontaneous Reporting
Intensified ADR Reporting
Targeted Spontaneous Reporting
Cohort Event Monitoring
EHR Mining

Europe Pharmacovigilance Market, By Process Flow:

Case Data Management

Case Logging
Case Data Analysis
Medical Reviewing & Reporting

Signal Detection

Adverse Event Logging
Adverse Event Analysis
Adverse Event Review & Reporting

Risk Management System

Risk Evaluation System
Risk Mitigation System

Europe Pharmacovigilance Market, By Therapeutic Area:

Oncology
Neurology
Cardiology
Respiratory Systems
Others

Europe Pharmacovigilance Market, By End-Use:

Pharmaceuticals & Biotechnology Companies
Medical Device Manufacturers
Others

· Europe Pharmacovigilance Market, By Country:

France
Germany
United Kingdom
Italy
Spain
Belgium
Netherlands
Sweden
Poland
Greece

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Europe pharmacovigilance market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

Profit margin analysis in case of direct and indirect sales channel.

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Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Europe Pharmacovigilance Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Service Provider (In-house, Contract Outsourcing)

5.2.2. By Product Life Cycle (Pre-Clinical, Phase I, Phase II, Phase III, and Phase IV)

5.2.3. By Type (Spontaneous Reporting, Intensified ADR Reporting, Targeted Spontaneous Reporting, Cohort Event Monitoring, EHR Mining)

5.2.4. By Process Flow (Case Data Management, Signal Detection, Risk Management System)

5.2.4.1. By Case Data Management (Case Logging, Case Data Analysis, Medical Reviewing & Reporting)

5.2.4.2. By Signal Detection (Adverse Event Logging, Adverse Event Analysis, Adverse Event Review & Reporting)

5.2.4.3. By Risk Management System (Risk Evaluation System, Risk Mitigation System)

5.2.5. By Therapeutic Area (Oncology, Neurology, Cardiology, Respiratory Systems, Others)

5.2.6. By End-Use (Pharmaceuticals & Biotechnology Companies, Medical Device Manufacturers, Others)

5.2.7. By Country

5.2.8. By Company (2022)

5.3. Market Map

5.3.1. By Service Provider

5.3.2. By Product Life Cycle

5.3.3. By Type

5.3.4. By Process Flow

5.3.5. By Therapeutic Area

5.3.6. By End-Use

5.3.7. By Country

5.4. Europe: Country Analysis

5.4.1. France Pharmacovigilance Market Outlook

5.4.1.1. Market Size & Forecast

5.4.1.1.1. By Value

5.4.1.2. Market Share & Forecast

5.4.1.2.1. By Service Provider

5.4.1.2.2. By Product Life Cycle

5.4.1.2.3. By Type

5.4.1.2.4. By Process Flow

5.4.1.2.5. By Therapeutic Area

5.4.1.2.6. By End Use

5.4.2. Germany Pharmacovigilance Market Outlook

5.4.2.1. Market Size & Forecast

5.4.2.1.1. By Value

5.4.2.2. Market Share & Forecast

5.4.2.2.1. By Service Provider

5.4.2.2.2. By Product Life Cycle

5.4.2.2.3. By Type

5.4.2.2.4. By Process Flow

5.4.2.2.5. By Therapeutic Area

5.4.2.2.6. By End Use

5.4.3. United Kingdom Pharmacovigilance Market Outlook

5.4.3.1. Market Size & Forecast

5.4.3.1.1. By Value

5.4.3.2. Market Share & Forecast

5.4.3.2.1. By Service Provider

5.4.3.2.2. By Product Life Cycle

5.4.3.2.3. By Type

5.4.3.2.4. By Process Flow

5.4.3.2.5. By Therapeutic Area

5.4.3.2.6. By End Use

5.4.4. Italy Pharmacovigilance Market Outlook

5.4.4.1. Market Size & Forecast

5.4.4.1.1. By Value

5.4.4.2. Market Share & Forecast

5.4.4.2.1. By Service Provider

5.4.4.2.2. By Product Life Cycle

5.4.4.2.3. By Type

5.4.4.2.4. By Process Flow

5.4.4.2.5. By Therapeutic Area

5.4.4.2.6. By End Use

5.4.5. Spain Pharmacovigilance Market Outlook

5.4.5.1. Market Size & Forecast

5.4.5.1.1. By Value

5.4.5.2. Market Share & Forecast

5.4.5.2.1. By Service Provider

5.4.5.2.2. By Product Life Cycle

5.4.5.2.3. By Type

5.4.5.2.4. By Process Flow

5.4.5.2.5. By Therapeutic Area

5.4.5.2.6. By End Use

5.4.6. Belgium Pharmacovigilance Market Outlook

5.4.6.1. Market Size & Forecast

5.4.6.1.1. By Value

5.4.6.2. Market Share & Forecast

5.4.6.2.1. By Service Provider

5.4.6.2.2. By Product Life Cycle

5.4.6.2.3. By Type

5.4.6.2.4. By Process Flow

5.4.6.2.5. By Therapeutic Area

5.4.6.2.6. By End Use

5.4.7. Netherlands Pharmacovigilance Market Outlook

5.4.7.1. Market Size & Forecast

5.4.7.1.1. By Value

5.4.7.2. Market Share & Forecast

5.4.7.2.1. By Service Provider

5.4.7.2.2. By Product Life Cycle

5.4.7.2.3. By Type

5.4.7.2.4. By Process Flow

5.4.7.2.5. By Therapeutic Area

5.4.7.2.6. By End Use

5.4.8. Sweden Pharmacovigilance Market Outlook

5.4.8.1. Market Size & Forecast

5.4.8.1.1. By Value

5.4.8.2. Market Share & Forecast

5.4.8.2.1. By Service Provider

5.4.8.2.2. By Product Life Cycle

5.4.8.2.3. By Type

5.4.8.2.4. By Process Flow

5.4.8.2.5. By Therapeutic Area

5.4.8.2.6. By End Use

5.4.9. Poland Pharmacovigilance Market Outlook

5.4.9.1. Market Size & Forecast

5.4.9.1.1. By Value

5.4.9.2. Market Share & Forecast

5.4.9.2.1. By Service Provider

5.4.9.2.2. By Product Life Cycle

5.4.9.2.3. By Type

5.4.9.2.4. By Process Flow

5.4.9.2.5. By Therapeutic Area

5.4.9.2.6. By End Use

5.4.10. Greece Pharmacovigilance Market Outlook

5.4.10.1. Market Size & Forecast

5.4.10.1.1. By Value

5.4.10.2. Market Share & Forecast

5.4.10.2.1. By Service Provider

5.4.10.2.2. By Product Life Cycle

5.4.10.2.3. By Type

5.4.10.2.4. By Process Flow

5.4.10.2.5. By Therapeutic Area

5.4.10.2.6. By End Use

6. Market Dynamics

6.1. Drivers

6.2. Challenges

7. Pricing Analysis

8. Market Trends & Developments

9. Competitive Landscape

9.1. Competition Outlook

9.2. Regional Players Profiled (Leading Companies)

9.2.1. Accenture PLC

9.2.2. Boehringer Ingelheim GmbH

9.2.3. Bristol-Myers Squibb SARL

9.2.4. Clinquest Group B.V.

9.2.5. F Hoffmann-La Roche AG

9.2.6. Foresight Group International AG

9.2.7. ICON PLC

9.2.8. GlaxoSmithKline PLC

9.2.9. Novartis AG

9.2.10. Capgemini SE

10. Strategic Recommendations

Figures and Tables

Frequently asked questions

What are the key driving factors for the growth of the Europe Pharmacovigilance market?

Growing rising incidence of toxicity and adverse drug reactions (ADRs), rising incidences of chronic diseases, and high patient compliance for drug usage are driving the demand for the Europe Pharmacovigilance market.

Who are the top players operating in the Europe Pharmacovigilance market?

Which treatment sub-segment of Europe Pharmacovigilance is driving the growth of the market?

Based on therapeutic area, the market is segmented into oncology, neurology, cardiology, respiratory systems, and others. The oncology segment is expected to dominate the growth of the market. This is because safety of cancer drugs is extremely important, due to their side-effects. Also, the services assist in the prevention, detection, and management of drug-induced adverse effects, and also in the avoidance of unnecessary medical prescription orders.

What are the key factors hampering growth for the Europe Pharmacovigilance market?

The cost of maintaining compliance levels as well as the inconsistent reporting of adverse event due to lack of awareness among patient about adverse events (AE) are likely to slow down the growth of Europe Pharmacovigilance market.

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