United States pharmacovigilance market
is anticipated to witness rapid growth during the forecast period owing to the
increasing rate of new drug developments via clinical trials. The rising cases
of Adverse Drug Reaction (ADR) has further raised question on the drug safety
and efficacy. This is acting as a major growth driver for pharmacovigilance
market in the country. Moreover, consumer health protection acts
provided by the government are also contributing to the growth of United States
pharmacovigilance market.
According to World Health
Organization, pharmacovigilance is a process of detection, assessment,
monitoring and prevention of adverse event related with drug related problems.
It helps in finding new safety concerns and evaluating the already known risks.
Pharmacovigilance helps in keeping a watch on the benefit risk balance of any
drug. Any change in the benefit risk ratio will alter the safety profile of the
drug.
United States pharmacovigilance market
can be segmented based on clinical trial phase, method, service provider,
end-user and region. Based on clinical trial phase, market is segmented into
pre-clinical, phase 1, phase 2, phase 3, and phase 4. Among them, the phase 4
segment currently dominates the market in United States as they act as an
additional drug safety measure for drugs undergoing clinical trial. The segment
is further expected to register fastest growth during the forecast period.
Based on service provider, the United States pharmacovigilance market is
categorized into in-house and contract outsourcing. Here, the contract
outsourcing service provider is poised to undergo fastest growth and dominate
the market until 2025 as it eliminates the risk of business overhead costs. Additionally,
the service is increasingly being adopted by several healthcare companies operating
in the United States.
Major companies operating in United
States pharmacovigilance market include F. Hoffmann-La Roche & Co.,
Laboratory Corporation of America Holdings, IBM Corporation, United BioSource
Corporation, BioClinica Inc, Novatis Corporation, ArisGlobal LLC, Cognizant ,
Accenture, Capgemini US LLC, iGATE Corporation and iMEDGlobal Corporation,
among others. The companies are increasing their market share by carrying out
extensive R&D activities to offer advanced products and services.
Years
considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
- To analyze and forecast the market size of United States pharmacovigilance
market.
- To forecast United States pharmacovigilance market based on clinical trial phase, method,
service provider, end-user, company and regional distribution.
- To identify drivers and challenges for United States pharmacovigilance
market.
- To examine competitive developments such as expansions, new product
launches, mergers & acquisitions etc. in United States pharmacovigilance
market.
- To identify and analyze the profile of leading players operating in
the United States pharmacovigilance market.
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TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of service provider companies across the United States.
Subsequently, TechSci Research conducted primary research surveys with the
identified companies. While interviewing, the respondents were also enquired
about their competitors. Through this technique, TechSci Research could include
the companies which could not be identified due to the limitations of secondary
research.
TechSci
Research calculated United States pharmacovigilance market size using a
bottom-up approach, where data for various end user industries and its
application across various product types were recorded and forecast for the
future years. TechSci Research sourced these values from the industry experts
and company representatives and externally validated through analyzing
historical data of these product types and applications for getting an
appropriate, overall market size. Various secondary sources such as company
websites, news articles, press releases, company annual reports, investor
presentations and financial reports were also used by TechSci Research.
Key Target
Audience:
- Pharmacovigilance service provider companies,
pharmaceutical companies and other stakeholders
- Government bodies such as regulating
authorities and policy makers
- Organizations, industry associations, forums
and alliances related to pharmacovigilance
- Market research and consulting firms
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders such as pharmacovigilance
companies, end users etc., besides allowing them in strategizing investments
and capitalizing on market opportunities.
Report Scope:
In this report, United States pharmacovigilance market has
been segmented into following categories, in addition to the industry trends
which have also been detailed below:
- United States Pharmacovigilance Market, By Clinical Trial Phase:
- Pre-Clinical
- Phase 1
- Phase 2
- Phase 3
- Phase 4
- United States Pharmacovigilance Market, By Method:
- Spontaneous
Reporting
- Intensified ADR
Reporting
- Targeted
Spontaneous Reporting
- Cohort Event
Monitoring
- EHR Mining
- United States Pharmacovigilance Market, By Service Provider:
- In-House
- Contract Outsourcing
- United States Pharmacovigilance Market, By End-User:
- Hospitals
- Research Organizations
- Industries
- United
States Pharmacovigilance Market, By Region:
- North-East
- Mid-West
- South
- West
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in United States 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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