Pharmacovigilance Market Global Industry Insights Research from 2019 to 2028

WILMINGTON, Del. - Aug. 19, 2022 - PRLog -- Pharmacovigilance is referred to the science and activities relating to the detection, assessment, understanding and prevention of adverse effects or any other drug-related problem. Pharmacovigilance is fundamentally based on the qualitative and quantitative study of spontaneous adverse drug reactions reports, followed by a clinical assessment with respects to its impact on the overall safety profile of the drug. It is particularly useful for identifying potential safety signals of a rare adverse event or in orphan disease settings where exposure data are limited prior to marketing. The purpose of pharmacovigilance is to enhance patient care and patient safety in relation to the use of medicines according to the life cycle of a health product. Pharmacovigilance has grown significantly in recent years and its importance in the healthcare system has been recognized worldwide.

PHARMACOVIGILANCE MARKET SEGMENTAL HIGHLIGHTS

The report analyses the global pharmacovigilance market based on clinical trial phase, service provider, type and geography.

PHARMACOVIGILANCE MARKET BY SERVICE PROVIDER

In house and contract manufacturing are the ways of obtaining pharmacovigilance services.

PHARMACOVIGILANCE MARKET BY TYPE

Pharmacovigilance Market by Type is categorised into spontaneous reporting, intensified ADR reporting, targeted spontaneous reporting

PHARMACOVIGILANCE MARKET BY CLINICAL TRIAL

Pharmacovigilance market by clinical trial is segmented into Pre-Clinical, Phase I, II, III, IV.  Phase IV clinical trial deals securing an additional safety measure for the drugs undergoing clinical trials.

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PHARMACOVIGILANCE MARKET KEY PLAYERS

Key players in the global Pharmacovigilance market include Accenture, Linical Accelovance, Capgemini, ITClinical, FMD K&L, IQVIA, Cognizant, Laboratory Corporation of America Holding, IBM Corporation; ArisGlobal, ICON plc, TAKE Solutions Ltd., Wipro Ltd. , United BioSource Corporation, PAREXEL International Corporation, BioClinica Inc.  and others

KEY DEVELOPMENT:

September 2016: Boehringer Ingelheim announced a long-term collaboration with ViraTherapeutics, a biopharma company developing immunotherapeutic for cancer treatment. This collaboration is intended to develop a novel technology for oncology and to investigate clinical testing of Vesicular Stomatitis Virus Glycoprotein (VSV-GP) in phase I trial.

June 2015: QuintilesIMS launched Infosario One Mobile App, a mobile based application that enables access to important clinical trial information. The application provides instant access to start-up, recruitment and compliance information as well as updates on data queries. This product launch enabled company to garner high market share and sustain market competition.

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