North America Drug Safety Solutions and Pharmacovigilance Market, By Type (Software and Services), End Users (Biotechnology and Pharmaceuticals, Contract Research Organizations (CROS), Hospitals, KPOs/BPOs and Healthcare Providers), Distribution Channel (Direct Sales and Retail Sales), Country (U.S., Canada and Mexico) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Drug Safety Solutions and Pharmacovigilance Market
Data Bridge Market Research analyses that the drug safety solutions and pharmacovigilance market will exhibit a CAGR of around 13.85% for the forecast period of 2021-2028. Rising prevalence of burn related disorders, increased focus on research and development proficiencies in regards to medical devices and on the adoption of advanced healthcare technologies, growing number of pipeline products for treatment of various diseases and rising expenditure for the development of healthcare infrastructure especially in the developing economies are the major factors attributable to the growth of drug safety solutions and pharmacovigilance market.
From the name itself, it is clear that pharmacovigilance is the science of assessing, understanding, detecting and preventing adverse effects of various diseases and side effects of drugs on the body. In other words, the process involved monitoring of the drugs before they are finally given the nod for approval to ensure optimum safety of the patients.
Growing research and development proficiencies by the life science industry is one of the major factors fostering the growth of the market. Growth in the health care expenditure and growing prevalence of adverse drug reactions (ADRs) are other market growth determinants. Rising adoption of pharmacovigilance software by outsourcing companies and rising collaborations between the research institutes are other important factors that will further generate lucrative market growth opportunities.
However, improper and unfavourable reimbursement scenario in the developing and underdeveloped economies and fluctuations in the prices of raw materials will derail the market growth rate. Also, lack of awareness especially in the underdeveloped economies will further pose challenges for the market. Dearth of skilled human resources in the backward economies will also hamper the market growth rate.
This drug safety solutions and pharmacovigilance market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on drug safety solutions and pharmacovigilance market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
North America Drug Safety Solutions and Pharmacovigilance Market Scope and Market Size
The drug safety solutions and pharmacovigilance market is segmented on the basis of type, end user and distribution channel. The growth amongst these segments will help you analyse 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 drug safety solutions and pharmacovigilance market is segmented into software and services.
- On the basis of end user, the drug safety solutions and pharmacovigilance 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 drug safety solutions and pharmacovigilance market is segmented into direct sales and retail sales.
North America Drug Safety Solutions and Pharmacovigilance Market Country Level Analysis
The drug safety solutions and pharmacovigilance market is analysed and market size insights and trends are provided by country, type, end user and distribution channel as referenced above.
The countries covered in the drug safety solutions and pharmacovigilance market report are U.S., Canada and Mexico.
U.S. in North America dominates the market owing to the rising cases of chronic disorders and existence of advanced and smart healthcare solutions.
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 global 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
The drug safety solutions and pharmacovigilance market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, 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 period 2010 to 2019.
Competitive Landscape and Drug Safety Solutions and Pharmacovigilance Market Share Analysis
The 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, global 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 covered 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 other. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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