According to World Health Organization’s (WHO) report of pharmaceuticals consumption, medicines for the treatment of chronic diseases accumulated the larger amount of the total volume of drug utilization in non hospital set ups, resulting in the considerable rise in the number of available medicines to the consumers. Pharmacovigilance outsourcing includes risk management, signal management, data management, and inspection support. The report provides analysis of global pharmacovigilance outsourcing market for the period 2016-2026, wherein 2018 to 2026 is the forecast period and 2017 is considered as the base year. The global pharmacovigilance outsourcing market is anticipated to grow at substantial CAGR above 16% throughout the forecast period. Furthermore, Market players are primarily focusing on developing new innovative technologies that will supplement growth of the pharmacovigilance outsourcing market.
Growing prominence on new drug development for chronic diseases treatments, remote monitoring for clinical operations, quality assurance, regulatory affairs, statistical analysis and clinical trials, increasing preference of pharma companies towards PV outsourcing facilities and rising number of unfavourable events and other safety concerns related to the medical products are some of the fundamental factors that are driving the global pharmacovigilance outsourcing market growth globally. Growing safety concerns related to the medical products and rising number of adverse measures are the major factors boosting the global pharmacovigilance (PV) outsourcing market growth. Benefits provided by outsourcing facilities for in-house agreement functions is forecasted to drive the global pharmacovigilance outsourcing market over the forecast period. Increasing adoption of pharmacovigilance IT solutions and services are projected to spur the growth of the market over the forecast period. Additionally, due to the numerous advancements in drug development process is boosting the growth of the market. Large numbers of pharma companies are primarily focusing on the outsourcing PV services in order to minimize the operational expenses and reduce the overall cost, thereby fueling the growth of the market. Nevertheless, risks associated with security of data such as mistreatment of patient’s data may hamper the growth of the global pharmacovigilance outsourcing market.
Pharmacovigilance Outsourcing Market, By Service
Pharmacovigilance Outsourcing Market, By Service Provider
Global Pharmacovigilance outsourcing Market, by Geography
The market research study on “Pharmacovigilance Outsourcing Market (By Service: Pre-marketing services [Clinical pharmacovigilance services, Case processing services, Safety data management services, Medical review], Post-marketing services [Knowledge process outsourcing services, IT solutions and services], Others; By Service Provider: Contract research organizations (CROs), Business process outsourcing (BPOs)) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026” offers a detailed insights on global pharmacovigilance outsourcing market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global pharmacovigilance outsourcing market by service, service providers, fuel, distribution channel and major geographic regions. The report also covers basic drug development policies.
The global pharmacovigilance outsourcing market is characterized by the presence of experienced and established players. Some of the key players include Bioclinica, Clintec, Covance, Medpace Holdings, Oracle Corporation, iGATE Corporation, Accenture, iMED Global Corporation, Symogen, Ergomed, IBM Corporation, IQVIA, MarksMan Healthcare, Parexel, SIRO Clinpharm and Novartis. Various prominent players from the market are entering into strategic acquisitions in order to offer advanced pharmacovigilance outsourcing technologies to their clients. Additionally, they are focusing on strategic acquisitions in order to expand their industry presence.
The Global Next Generation Sequencing Market is expected to grow at a CAGR of around 18.7% over the forecast period 2019 to 2026 and poised to reach around US$ 20.4 Bn by 2026. Next Generation Sequencing (NGS) is a platform that enabled the sequencing of thousands to millions DNA molecules simultaneously. It is also known as the massively parallel sequencing technology. This sequencing helps in the various fie
The global ultrasound equipment market is expected to grow at a CAGR of around 6.3% from 2019 to 2026 and expected to reach the market value of around US$ 10 Bn by 2026. Ultrasound is a medical imaging technology that uses sound waves to produce pictures of body’s inside part. It helps to diagnose swelling, pain, and infection in internal organs and to examine a baby in pregnant women. Ultrasound is also
The global minimally invasive surgery market is expected to grow at a CAGR of around 9.6% over the forecast period 2019 to 2026 and expected to reach the market value of around US$ 33.8 Bn by 2026. Minimally invasive surgery uses techniques to operate with less incision or damage to the body than open surgery. Hence, it is associated with less pain, fewer postoperative complications, and short
The global implantable medical devices market is expected to grow at a CAGR of around 7.3% over the forecast period 2019 to 2026 and expected to reach the market value of around US$ 153.8 Bn by 2026. An implant is a medical device, manufactured to support or replace any damaged organs in the body, treat imperfections in normal body functions, or enhance the functioning of body organs. These can be implanted by
The Global eclinical Solutions Market is expected to grow at a CAGR of around 9.7% from 2019 to 2026 and expected to reach the market value of around US$ 9,756 Mn by 2026. The eclinical solutions refer to the development and offering of clinical technologies and expertise which are aimed at supporting the development of the clinical process. The eclinical solutions usually involve
The Global Insulin Delivery Devices Market value is expected to reach around US$ 22.5 Bn by 2026 and growing at a CAGR of around 7.2% over the forecast period 2019 to 2026. Insulin delivery devices are used to deliver insulin to patients with Type 1 and Type 2 diabetes. Insulin is an important part of treatment for the diabetes patient which helps them to get glucose from the blood