Albany, NY -- (SBWIRE) -- 07/01/2014 -- A rising tide of regulatory expectations, tougher inspection regime and instant need of patient reporting has provided the much needed impetus for the growth of the pharmacovigilance market. An upsurge in number of acute and chronic diseases has consequently led to a rise in number of drug consumption, which has also elicited a growth in the number of adverse drug events and drug toxicity cases. Moreover, several high-profile safety issues, regulatory warnings, large volume of events to be reviewed along with negative media coverage have compelled the pharmaceutical players to take support of various outsourcing services. There are two major outsourcing services opted by these pharmaceutical players i.e. traditional CROs and BPOs. These outsourcing services not only provide cost savings but also helps in bringing process efficiency. Pharmaceutical companies are now forming long term partnership with the CROs and BPOs to share the costs involved in PV process right from drug discovery to post marketing approvals. In addition, PV requires skilled resources with excellent language skills and strong knowledge pertaining to case reporting.
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The research report on pharmacovigilance provides detailed analysis of the global market and helps in understanding the driving forces responsible for the growth of this market. The report discusses the market of pharmacovigilance market on the bases of clinical trials phases i.e. Phase I to III and post marketing surveillance (PMS). We have also mapped the trend for preference of the pharmaceutical players for in-house and outsourcing in our chapter by type of service.
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The global pharmacovigilance market has been segmented based on all the above mentioned parameters and market size estimates and forecasts for the period of 2011 to 2019 have been provided for each of the segments, in term of USD million, considering 2012 as the base year for calculations and 2011 representing as the historical year. The CAGR (%) of each market segment for the forecast period 2013 to 2019 has also been provided along with market size estimations.
The report exclusively studies the aforementioned segments with respect to geography. Under geographic section we have covered four regions, namely, North America, Europe, Asia-Pacific and Rest of the World (ROW). The market overview section gives a detailed qualitative analysis of the factors responsible for driving and restraining the growth of the global pharmacovigilance market. The section also covers opportunities and market attractiveness analysis of the geographical regions.
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The report concludes with the competitive landscape and company profiles of major market players. These market players have been profiled on the basis of various attributes such as company overview, financial overview, business strategies, product portfolio and recent developments. Some of the major players profiled in this report include PRA International Inc., Covance Inc., Synowledge LLC, OptumInsight Inc., iMedGlobal, TCS, iGATE Corporation, Cognizant Technology Solutions, Quintiles and others.