The Global Pharmacovigilance Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The pharmacovigilance market size was estimated to be US$ 4.2 billion and is expected to reach US$ 18.7 billion by 2030 at a CAGR of 14.6% through 2030. Pharmacovigilance can be defined as a pharmacological science related to prevention, collection, monitoring, detection, and assessment of adverse effects associated with any pharmaceutical products. This is commonly known as drug safety. The aim of Pharmacovigilance is to improve patient care and patient safety related to the use of medicines and to sustain public health programs by providing trustworthy, composed information for the effective evaluation of the risk-benefit portfolio of medicines. Each drug has some favorable as well as undesirable or unpleasant effects. Pharmacovigilance principally focuses on drug toxicity and adverse drug reactions (ADR).
