Europe Drug Safety Solutions and Pharmacovigilance Market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to grow at a CAGR of 7.10% in the above-mentioned forecast period.
Drug safety solutions and pharmacovigilance (PV or PHV), is basically a scientific procedure for the collection, analysis, monitoring and prevention of adverse effects in drugs and therapies. Its major purpose is to ensure that the pharmaceutical developers meet industry regulatory standards and increase pressure on the biotechnology and pharmaceutical companies to manufacture safe drugs and evaluate their results post sales.
The growing prevalence of adverse drug reactions (ADRs) is the primary factor responsible for driving the growth of the drug safety solutions and pharmacovigilance market. Additionally, the increasing adoption of pharmacovigilance software by outsourcing companies and strict government regulations for prior and post commercialization of drugs also heightens the overall growth of the market. However, dearth of skilled pharmacovigilance professionals and high cost of drug safety solutions and pharmacovigilance are estimated to obstruct the market’s growth.
The research collaborations and partnerships along with automation in drug safety solutions and pharmacovigilance which helps to achieve more effective and durable mechanical hemostasis are expected to generate profitable opportunities for the market. On the other hand, the rising complexity related to drug safety regulations and misreporting and miscoding of adverse events pose a challenge for the market’s growth.
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Drug Safety Solutions and Pharmacovigilance Market Country Level Analysis
Drug safety solutions and pharmacovigilance market is analyzed and market size insights and trends are provided by type, product, functionality, end user and distribution channel as referenced above.
The countries covered in the drug safety solutions and pharmacovigilance market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.
The country section of the drug safety solutions and pharmacovigilance market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Drug safety solutions and pharmacovigilance market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for drug safety solutions and pharmacovigilance market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the drug safety solutions and pharmacovigilance market. The data is available for historic periods 2010 to 2019.
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Competitive Landscape and Drug Safety Solutions and Pharmacovigilance Market Share Analysis
Drug safety solutions and pharmacovigilance market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to drug safety solutions and pharmacovigilance market.
The major players operating in the drug safety solutions and pharmacovigilance market report are PPD Inc, Drug Safety Solutions Limited, C3i, Worldwide Clinical Trials, Bioclinica, United Biosource LLC, Ennov, AB Cube France, Covance Inc., Accenture, PRA Health Sciences, Inc., Ergomed Plc, IQVIA, Genpact, Cognizant, Parexel International Corporation, ArisGlobal, ICON plc, Oracle, Syneos Health among others.
Europe Drug Safety Solutions and Pharmacovigilance Market Scope and Market Size
Drug safety solutions and pharmacovigilance market is segmented on the basis of type, product, functionality, end user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of type, the market is segmented into software and services.
- On the basis of product, the market is segmented into standard form and customized form.
- On the basis of functionality, the market is segmented into adverse event reporting software, drug safety audits software and issue tracking software.
- On the basis of end user, the market is segmented into hospitals, healthcare providers, pharmaceutical and biotechnology industries, KPOs/BPOs, contract research organizations (CROS) and others.
- On the basis of distribution channel, the market is segmented into direct sales and retail sales.
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Europe Drug Safety Solutions and Pharmacovigilance Market Report Answers the Following Questions:
- What are the current trends and drivers in the Europe Drug Safety Solutions and Pharmacovigilance Market?
- How has the demand for convenience affected the growth of the Europe Drug Safety Solutions and Pharmacovigilance Market?
- What are the different types of Europe Drug Safety Solutions and Pharmacovigilance Market available in the market and what are their respective market shares?
- How is the Europe Drug Safety Solutions and Pharmacovigilance Market segment by distribution channels?
- Who are the major players in the Europe Drug Safety Solutions and Pharmacovigilance Market and what is their market share?
- How has the Europe Drug Safety Solutions and Pharmacovigilance Market been impacted by the growing demand for options?
- How does the Europe Drug Safety Solutions and Pharmacovigilance Market vary across different regions or countries?
- What are the future opportunities and challenges for companies operating in the Europe Drug Safety Solutions and Pharmacovigilance Market?
- How has the rise of e-commerce affected the distribution and sales of the Europe Drug Safety Solutions and Pharmacovigilance Market?
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