Pharmacovigilance Market Will Grow at a Cagr of 13% by 2020

Pharmacovigilance Market will Grow at a CAGR of 13% by 2020 by Market Research Engine

New York, July 26: Market Research Engine has published a new report titled as

“Pharmacovigilance Market (Phases of Drug Development: Preclinical Studies,

Clinical Trial Phase I, II, III & IV or Post Marketing Surveillance; Type of Methods:

Spontaneous Reporting, Intensified ADR Reporting, Targeted Spontaneous

Reporting, Cohort Event Monitoring, & EHR Mining; Type of Service: In-House &

Contract Outsourcing) - Global Industry Analysis, Size, Share, Growth, Trends and

Forecast, 2014 - 2020”

Pharmacovigilance is associated with drug safety which involves gathering, detecting,

monitoring and preventing adverse reaction of drug. It mainly focuses on adverse drug

reactions. The information accumulated from healthcare providers and patients plays a

significant role in pharmacovigilance to transpire. The whole purpose of pharmacovigilance

is to minimize the adverse effects of drugs on the patients.

Browse Full Report:

https://www.marketresearchengine.com/reportdetails/pharmacovigilance-market

Global pharmacovigilance market was valued USD 2.5 billion in 2014. The revenue of this

market is projected to increase at CAGR of 13% during the forecast period.North America is

the leading market for pharmacovigilance market globally with largest market 2014. Europe

is a subsequent market owing to implementation of pharmacovigilance. Asia Pacific market

is fastest growing market with highest CAGR accounted in 2014.

Increasing need of pharmacovigilance owing to increasing prevalence of adverse drug

reaction is a major driving factor.Rise in intricacy of drug safety regulation by government is

a growth factor for this market. Growing demand in paints & coating industry is one of the

driving factor.

The global pharmacovigilance market according to clinical trial phase is segmented aspreclinical, Phase I, Phase II, Phase IIIandPhase IV. The type of service provider segment...