Post-marketing Pharmacovigilance and Medical Information Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Post-marketing Pharmacovigilance and Medical Information Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112024A6454
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Market Overview:

The global post-marketing pharmacovigilance and medical information market size reached US$ 5.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.4 Billion by 2028, exhibiting a growth rate (CAGR) of 10.9% during 2023-2028.

Post-marketing pharmacovigilance and medical information is the practice of monitoring the safety and efficacy of drugs and medical devices after their launch. It includes collection, surveillance, and prevention of adverse effects of new medicines, equipment, and therapies. It helps protect patients from unnecessary harm by clarifying risks concerning benefits and refuting false indications. Besides this, it assists researchers in determining required actions throughout the drug formulation cycle. As a result, post-marketing pharmacovigilance and medical information finds a considerable role in the healthcare industry to assess the accuracy of the delivered information between patients and medical professionals. It is also used in research organizations for regulating drug safety guidelines.

Global Post-marketing Pharmacovigilance and Medical Information Market

Post-marketing Pharmacovigilance and Medical Information Market Trends:

The growing global geriatric population and the rising occurrence of various chronic medical disorders, such as diabetes, hypertension, dementia, cardiovascular diseases, and osteoporosis, represent one of the key factors increasing the consumption of medicines. In addition, the increasing frequency of lifestyle, respiratory and cardiovascular infections, and neurological and oncological diseases are resulting in the increasing sales of drugs worldwide. This, in turn, is creating a positive market outlook. In line with this, the rising prevalence of Adverse Drug Reactions (ADRs), coupled with the incorporation of advanced ADR reporting tools, is supporting the market growth. Apart from this, the expansion of hospitals, clinics, laboratories, and medical research centers is catalyzing the demand for medications and medical devices across the globe. Moreover, governments of various countries are implementing several initiatives to improve healthcare infrastructure and pharmacovigilance services and maintain medical databases, which is strengthening the market growth. Furthermore, leading market players are focusing on outsourcing pharmacovigilance operations (PVO) and introducing cloud-based medical information systems for optimal accuracy, cost efficiency, risk mitigation, domain, improved timelines, and organizational agility, which is anticipated to drive the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global post-marketing pharmacovigilance and medical information market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, product and end user.

Breakup by Type:

  • Spontaneous Reporting
  • Intensified ADR Reporting
  • Targeted Spontaneous Reporting
  • Cohort Event Monitoring
  • EHR Mining
     

Breakup by Product:

  • Books
  • Online Media
  • Journals
     

Breakup by End User:

  • Hospitals
  • Research Organization
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Accenture Plc., ArisGlobal, Cognizant Technology Solutions Corporation, Ergomed Plc, F. Hoffmann-La Roche Ltd., Icon Plc, Parexel International Corporation, Pharmaceutical Product Development, Inc. and Wipro Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Type, Product, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Accenture Plc., ArisGlobal, Cognizant Technology Solutions Corporation, Ergomed Plc, F. Hoffmann-La Roche Ltd., Icon Plc, Parexel International Corporation, Pharmaceutical Product Development, Inc. and Wipro Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global post-marketing pharmacovigilance and medical information market was valued at US$ 5.1 Billion in 2022.

We expect the global post-marketing pharmacovigilance and medical information market to exhibit a CAGR of 10.9% during 2023-2028.

The introduction of cloud-based medical information systems for optimal accuracy, cost efficiency, risk mitigation, domain, improved timelines, and organizational agility, is primarily driving the global post-marketing pharmacovigilance and medical information market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of post-marketing pharmacovigilance and medical information in monitoring the safety and efficacy of drugs introduced for the treatment of the coronavirus-infection.

Based on the type, the global post-marketing pharmacovigilance and medical information market has been segmented into spontaneous reporting, intensified ADR reporting, targeted spontaneous reporting, cohort event monitoring, and EHR mining. Among these, spontaneous reporting currently holds the majority of the total market share.

Based on the end user, the global post-marketing pharmacovigilance and medical information market can be bifurcated into hospitals and research organization. Currently, hospitals exhibit a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global post-marketing pharmacovigilance and medical information market include Accenture Plc., ArisGlobal, Cognizant Technology Solutions Corporation, Ergomed Plc, F. Hoffmann-La Roche Ltd., Icon Plc, Parexel International Corporation, Pharmaceutical Product Development, Inc., and Wipro Ltd.

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Post-marketing Pharmacovigilance and Medical Information Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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