Syneos Health, Cognizant, Accenture are dominating the Global Drug Safety Solutions and Pharmacovigilance Market in 2018

Drug Safety Solutions and Pharmacovigilance Market is growing at a substantial CAGR of 7.4% in the forecast period of 2019 to 2026. The years considered for study are as mentioned below:

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Global drug safety solutions and pharmacovigilance market is a highly concentrated market which includes key players and local players. The market has witnessed increased various strategic developments owing to favourable market scenario. The market has a prominent growth in upcoming years due to growing demand for the drug safety solutions and pharmacovigilance, booming across healthcare, technological advancements of global drug safety solutions and pharmacovigilance introduction of novel automated systems. The market has witness developments in terms of merger and acquisitions, partnerships or product launches to enhance the product portfolio to meet the rising demand of innovative monitoring technology in drug safety solutions and pharmacovigilance. For instance, in August 2019, Laboratory Corporation of America announced that its subsidiary, Covance Inc. has launched a laboratory solution named as FSPx model and offering it with its functional services. With this launch, LabCorp will enhance its services offering and will increase its market share.

Syneos Health is the dominating player in the global drug safety solutions and pharmacovigilance market. The other key players in the market include Cognizant, Accenture, Oracle, Parexel International Corporation Pharmaceutical Product Development, LLC, Drug Safety Solutions Limited, C3i, Worldwide Clinical Trials, Bioclinica, United Biosource LLC, Ennov, AB Cube, Covance Inc., PRA Health Sciences, Inc., Ergomed, IQVIA, Genpact, ArisGlobal, ICON plc, among others. 

Syneos Health

Syneos Health is headquartered in North Carolina, U.S. and was founded in 1997. The company focuses on providing biopharmaceutical service and solutions for the healthcare sector. The company has wide range of solution category such as clinical development, commercialization, consulting, syneos one. In this clinical development, consulting are market focused categories. The company is continuously engaged in strategic relationship to enhance the product and service of the drug safety solutions and pharmacovigilance such as,

  • In June 2019, Syneos Health launched FSP 360 solutions. The solution is designed to non-traditional and traditional FSP capabilities and to resolve issue related to driving speed, realities, quality and efficiencies across an entire asset portfolio. The solution will help the company to increase market share in market as the product is the combination of monitoring, safety/pharmacovigilance, project management and data services, eTMF, investigator payments, feasibility, site contracts and study start up.

The company has its presence in North America, Europe. The company has subsidiaries such as Sciformix Corporation (U.S.), Covance Food Solutions (U.S.), LabCorp Clinical Trials (China), Covance Market Access Services Inc. (U.S.), Covance Laboratories Ltd. (U.K.), among others

Cognizant 

Cognizant is headquartered in New Jersey, U.S. and was founded in 1994. The company focuses on reshaping business models, modernizing products and enhance customer experiences to address various requirements of the customers. Cognizant has multiple segments such as financial services, healthcare, products and resources, communications, media and technology. In this healthcare is the market focused segment. The company has various services categories such as automotive, industrial equipment, banking, capital markets, chemicals, communications and media, consumer goods and services, energy, health, high tech, insurance, life sciences, natural resources, public service, retail, software and platforms, travel and utilities. In these life sciences is the market focused segment. The company has wide range of solution category such as banking, capital markets, communications, media & technology, consumer goods, education, healthcare, information services, insurance, life sciences, manufacturing, oil & gas, retail, transportation & logistics, travel & hospitality, and utilities. In these life sciences is the market focused category.

The company has its presence in North America, South America, Europe, Asia-Pacific, Middle East and Africa. The company has subsidiaries such as TriZetto Group, Inc. (U.S.), Idea Couture (Canada), Mirabeau (Netherlands), TMG Health, Inc. (U.S.), Cadient Group, Inc. (U.S.), among others

Accenture

Accenture is headquartered in Dublin, Ireland. The company focuses on providing leading services related to strategy, consulting, digital, technology and operations to various clients. Accenture has multiple segments such as products, financial services, communications, media & technology, health & public service, resources and other in this health & public service is the market focused segment. The company has various services categories such as automotive, industrial equipment, banking, capital markets, chemicals, communications and media, consumer goods and services, energy, health, high tech, insurance, life sciences, natural resources, public service, retail, software and platforms, travel and utilities, in these life sciences is the market focused segment. The company is continuously engaged in strategic relationship to enhance the product and service of the drug safety solutions and pharmacovigilance such as,

  • In September 2019, Accenture has announced its collaboration with Bayer. The purpose of collaboration will be Streamline Drug Development Processes through INTIENT Clinical Platform. With this collaboration Accenture will lead to develop high quality of data, and will increase its product portfolio.

The company has presence in North America, South America, Europe, Asia-Pacific, Middle East and Africa. The company has various subsidiaries such as Avanade (U.K.), Adaptly, Inc. (U.S.), IMJ Corporation (Japan), Kurt Salmon (U.S.), SinnerSchrader (Germany) among others.