Global Pharmacovigilance Market, Size, Trends, and Growth Opportunity, By Type (Spontaneous Reporting, Intensified ADR Reporting, Targeted Spontaneous Reporting, Cohort Event Monitoring, and EHR Mining), By Service Provider (In House and Contract Outsourcing), By Process Flow (Case Data Management, Signal Detection, and Risk Management System), By Clinical Trial Phases (Preclinical, Phase I, Phase II, Phase III, and Phase IV), By End User (Hospitals, Pharmaceutical Companies, and Other End Users), Region and Forecast to 2030.
Global Pharmacovigilance Market 
The Global Pharmacovigilance Market was valued at USD 6.28 billion in 2022 and is expected to reach USD 23.92 billion by 2030, at a CAGR 16.81% during the forecast period 2023- 2030.
The science and practices involved in the detection, assessment, comprehension, and mitigation of side effects and other health/vaccination-related problems are referred to as pharmacovigilance. It is carried out before a medicine is approved to assess whether its benefits exceed its risks. Spontaneous reporting, increased ADR reporting, targeted spontaneous reporting, cohort event monitoring, and EHR mining are the key categories of pharmacovigilance. The motivation of individuals to report suspected adverse medication reactions to regional or national pharmacovigilance centers is the only factor that drives spontaneous reporting, which is by nature a passive approach to pharmacovigilance. 
Case data management, signal detection, and risk management system are a few of the several processes flows. The numerous service providers are both internal and contracted out, and they cover preclinical, phase I, phase II, phase II, and phase IV of clinical trials. Several end users, such as hospitals, pharmaceutical corporations, and others, utilize these services.
Market Drivers
The increased incidence of chronic disorders is anticipated to fuel market expansion. The pharmacovigilance industry is booming as a result of rising drug consumption, expanding outsourcing services usage, and rising drug development rates. The pharmacovigilance market is growing due to improved spending in the pharmaceutical business, an increase in adverse drug reactions (ADRs), and a rise in prescription errors. The increased understanding of pharmacovigilance among nonprofit organizations could encourage market expansion.
The growing number of new drug developments and the patients' use of branded pharmaceuticals over their expiration dates are driving the growth of the pharmacovigilance sector. The demand for pharmacovigilance is rising as a result of rising costs for oncology treatment and research as well as a continuing need for cancer drugs.
Market Restraints
The expansion of the market is being hampered by the cost of maintaining compliance requirements. The shortage of competent healthcare workers is impeding the growth of the pharmacovigilance market.
The pharmacovigilance industry may not expand as anticipated due to reasons like the significant risk associated with data security, the absence of worldwide regulatory harmonization, and the lack of data standardization for adverse event collecting.
Market Segmentation
The Global Pharmacovigilance Market is segmented into Type, Service Provider, Process Flow, Clinical Trial Phases, and End User.
Based on Type, the market is divided into Spontaneous Reporting, Intensified ADR Reporting, Targeted Spontaneous Reporting, Cohort Event Monitoring, and EHR Mining.
Based on Service Provider, the market is classified into In House and Contract Outsourcing.
Based on Process Flow, the market is segmented into Case Data Management, Signal Detection, Risk, and Management Systems.
Based on Clinical Trial Phases, the market is bifurcated into Preclinical, Phase I, Phase II, Phase III, and Phase IV.
Based on End Users, the market is classified into Hospitals, Pharmaceutical Companies, and Other End Users.
Regional Analysis
 
The Global Pharmacovigilance Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
With the presence of major manufacturers of pharmaceuticals and medical devices, North America held the greatest revenue share. One of the main causes of illness and mortality is the rising rate of drug addiction and related unfavorable drug reactions. This has a significant growth rendering effect on the North American market. Major manufacturers' increasing investments in the discovery of innovative drugs are also projected to fuel regional market expansion. 
Drugs are produced in enormous quantities, which has led to an increase in clinical studies and the requirement for post-marketing surveillance, both of which have contributed to the industry's total growth.
Key Players
Various key players are discussed in the Global Pharmacovigilance Market Report including: ICON Plc, Pharmaceutical Product Development LLC, Parexel International Corporation, IQVIA, Quanticate, Bioclinica, Covance Inc., Accenture Plc, IBM Corporation, Novartis.
Market Taxonomy
By Type 
• Spontaneous Reporting
• Intensified ADR Reporting
• Targeted Spontaneous Reporting
• Cohort Event Monitoring
• EHR Mining
By Service Provider
• In House
• Contract Outsourcing
By Process Flow 
• Case Data Management
• Signal Detection
• Risk Management System
By Clinical Trial Phases 
• Preclinical
• Phase I
• Phase II
• Phase III
• Phase IV
By End User 
• Hospitals
• Pharmaceutical Companies
• Other End Users
By Region
• North America 
• Latin America 
• Europe  
• Asia Pacific  
• Middle East & Africa

Global Pharmacovigilance Market
1 Introduction 
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Pharmacovigilance Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing economic downturn 
4.2.6 Post covid-19 world Supply & Demand conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Pharmacovigilance Market, By Type 
5.1 Y-o-Y Growth Comparison, By Type  
5.2 Global Pharmacovigilance Market Share Analysis, By Type  
5.3 Global Pharmacovigilance Market Size and Forecast, By Type 
5.3.1 Spontaneous Reporting
5.3.2 Intensified ADR Reporting
5.3.3 Targeted Spontaneous Reporting
5.3.4 Cohort Event Monitoring
5.3.5 EHR Mining
6 Global Pharmacovigilance Market, By Service Provider
6.1 Y-o-Y Growth Comparison, By Service Provider
6.2 Global Pharmacovigilance Market Share Analysis, By Service Provider
6.3 Global Pharmacovigilance Market Size and Forecast, By Service Provider
6.3.1 In House 
6.3.2 Contract Outsourcing
8 Global Pharmacovigilance Market, By Process Flow
8.1 Y-o-Y Growth Comparison, By Process Flow
8.2 Global Pharmacovigilance Market Share Analysis, By Process Flow
8.3 Global Pharmacovigilance Market Size and Forecast, By Process Flow
8.3.1 Case Data Management
8.3.2 Signal Detection 
8.3.3 Risk Management System
9 Global Pharmacovigilance Market, By Clinical Trial Phases
9.1 Y-o-Y Growth Comparison, By Clinical Trial Phases
9.2 Global Pharmacovigilance Market Share Analysis, By Clinical Trial Phases
9.3 Global Pharmacovigilance Market Size and Forecast, By Clinical Trial Phases
9.3.1 Preclinical
9.3.2 Phase I
9.3.3 Phase II
9.3.4 Phase III
9.3.5 Phase IV
10 Global Pharmacovigilance Market, By End User
10.1 Y-o-Y Growth Comparison, By End User End User 
10.2 Global Pharmacovigilance Market Size and Forecast, By End User
10.2.1 Hospitals
10.3.2 Pharmaceutical Companies
10.4.3 Other End Users
11 Global Pharmacovigilance Market, By Region
11.1 Global Pharmacovigilance Market Share Analysis, By Region
11.2 Global Pharmacovigilance Market Size and Forecast, By Region
12 North America Pharmacovigilance Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 North America Pharmacovigilance Market Share Analysis, By Type  
12.3 North America Pharmacovigilance Market Size and Forecast, By Service Provider
12.4 Asia Pacific Pharmacovigilance Market Size and Forecast, By Process Flow
12.5 North America Pharmacovigilance Market Size and Forecast, By Clinical Trial Phases
12.6 North America Pharmacovigilance Market Size and Forecast, By End User
12.7 North America Pharmacovigilance Market Size and Forecast, By Country
12.7.1 U.S.
12.7.2 Canada
12.7.3 Mexico
13 Europe Pharmacovigilance Market Analysis and Forecast (2023-2030)
13.1 Introduction
13.2 Europe Pharmacovigilance Market Share Analysis, By Type  
13.3 Europe Pharmacovigilance Market Size and Forecast, By Service Provider
13.4 Asia Pacific Pharmacovigilance Market Size and Forecast, By Process Flow
13.5 Europe Pharmacovigilance Market Size and Forecast, By Clinical Trial Phases
13.6 Europe Pharmacovigilance Market Size and Forecast, By End User
13.7 Europe Pharmacovigilance Market Size and Forecast, By Country
13.7.1 Germany
13.7.2 France
13.7.3 UK
13.7.4 Rest of Europe
14 Asia Pacific Pharmacovigilance Market Analysis and Forecast (2023-2030)
14.1 Introduction
14.2 Asia Pacific Pharmacovigilance Market Share Analysis, By Type  
14.3 Asia Pacific Pharmacovigilance Market Size and Forecast, By Service Provider
14.4 Asia Pacific Pharmacovigilance Market Size and Forecast, By Process Flow
14.5 Asia Pacific Pharmacovigilance Market Size and Forecast, By Clinical Trial Phases
14.6 Asia Pacific Pharmacovigilance Market Size and Forecast, By Clinical Trial Phases
14.7 Asia Pacific Pharmacovigilance Market Size and Forecast, By Country
14.7.1 China 
14.7.2 Japan
14.7.3 India
14.6.4 Rest of Asia Pacific
15 Latin America Pharmacovigilance Market Analysis and Forecast (2023-2030)
15.1 Introduction
15.2 Latin America Pharmacovigilance Market Share Analysis, By Type  
15.3 Latin America Pharmacovigilance Market Size and Forecast, By Service Provider
15.4 Asia Pacific Pharmacovigilance Market Size and Forecast, By Process Flow
15.5 Latin America Pharmacovigilance Market Size and Forecast, By Clinical Trial Phases
15.6 Latin America Pharmacovigilance Market Size and Forecast, By End User
15.7 Latin America Pharmacovigilance Market Size and Forecast, Country
15.7.1 Brazil
15.7.2 Rest of Latin America
16 Middle East Pharmacovigilance Market Analysis and Forecast (2023-2030)
16.1 Introduction
16.2 Middle East Pharmacovigilance Market Share Analysis, By Type  
16.3 Middle East Pharmacovigilance Market Size and Forecast, By Service Provider
16.4 Asia Pacific Pharmacovigilance Market Size and Forecast, By Process Flow
16.5 Middle East Pharmacovigilance Market Size and Forecast, By Clinical Trial Phases
16.6 Middle East Pharmacovigilance Market Size and Forecast, By End User
16.7 Middle East Pharmacovigilance Market Size and Forecast, By Country
16.7.1 Saudi Arabia
16.7.2 UAE
16.7.3 Egypt
16.7.4 Kuwait
16.7.5 South Africa
17 Competitive Analysis
17.1 Competition Dashboard
17.2 Market share Analysis of Top Vendors
17.3 Key Development Strategies
18 Company Profiles
18.1 ICON Plc
18.1.1 Overview
18.1.2 Offerings
18.1.3 Key Financials
18.1.4 Business Segment & Geographic Overview
18.1.5 Key Market Developments
18.1.6 Key Strategies
18.2. Pharmaceutical Product Development LLC 
18.2.1 Overview
18.2.2 Offerings
18.2.3 Key Financials
18.2.4 Business Segment & Geographic Overview
18.2.5 Key Market Developments
18.2.6 Key Strategies
18.3. Parexel International Corporation
18.3.1 Overview
18.3.2 Offerings
18.3.3 Key Financials
18.3.4 Business Segment & Geographic Overview
18.3.5 Key Market Developments
18.3.6 Key Strategies
18.4 IQVIA
18.4.1 Overview
18.4.2 Offerings
18.4.3 Key Financials
18.4.4 Business Segment & Geographic Overview
18.4.5 Key Market Developments
18.4.6 Key Strategies
18.5 Quanticate 
18.5.1 Overview
18.5.2 Offerings
18.5.3 Key Financials
18.5.4 Business Segment & Geographic Overview
18.5.5 Key Market Developments
18.5.6 Key Strategies
18.6 Bioclinica
18.6.1 Overview
18.6.2 Offerings
18.6.3 Key Financials
18.6.4 Business Segment & Geographic Overview
18.6.5 Key Market Developments
18.6.6 Key Strategies
18.7 Covance Inc.
18.7.1 Overview
18.7.2 Offerings
18.7.3 Key Financials
18.7.4 Business Segment & Geographic Overview
18.7.5 Key Market Developments
18.7.6 Key Strategies
18.8 Accenture Plc
18.8.1 Overview
18.8.2 Offerings
18.8.3 Key Financials
18.8.4 Business Segment & Geographic Overview
18.8.5 Key Market Developments
18.8.6 Key Strategies
18.9 IBM Corporation
18.9.1 Overview
18.9.2 Offerings
18.9.3 Key Financials
18.9.4 Business Segment & Geographic Overview
18.9.5 Key Market Developments
18.9.6 Key Strategies
18.10 Novartis
18.10.1 Overview
18.10.2 Offerings
18.10.3 Key Financials
18.10.4 Business Segment & Geographic Overview
18.10.5 Key Market Developments
18.10.6 Key Strategies