Global Pharmacovigilance Market | 2021 Global Healthcare Industry Analysis To 2028, is latest report on Global Pharmacovigilance Industry, published by Fortune Business Insights. According to this report Global Pharmacovigilance Market to rise at healthy Compound Annual Growth Rate by 2028. Market for Pharmacovigilance Industry is segmented By Product Type (Pharmacovigilance Frames and Spectacle Lenses), By Modality (Prescription and Over-the-counter) By Distribution Channel (Retail Store, Online Store, Ophthalmic Clinics), and Regional Forecast, 2020-2027
Major Pharmacovigilance Manufacturers covered in the market report include:
- Quanticate (U.S)
- Pharmaceutical Product Development, LLC (U. S)
- Cognizant (U.S)
- Parexel International Corporation (U.S)
- IQVIA (U.S)
- ICON plc (Ireland)
- Bioclinica (U.S)
- Accenture plc (Ireland)
- Covance Inc. (U.S)
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Robust Healthcare Research Facilities to Augment the Market in North America
Having generated revenue worth USD 1.94 billion in 2019, North America is anticipated to lead the pharmacovigilance market share during the forecast period. One of the main reasons for the region’s dominance is the well-established healthcare research infrastructure in the region as well as supportive policy environment for advancements in medicine technologies. In addition to this, North America also has a large number of PV centers with modern software, which augurs well for the market in the region. In Europe, the market is expected perform impressively owing to the presence of strong regulatory bodies such as European Medicines Agency (EMA) to monitor Adverse Drug Reactions (ADRs). The market in Asia-Pacific is foreseen to grow at the fastest pace on account of rising emphasis on efficient assessment of ADRs and Adverse Event (AE).
Pharmacovigilance Market Analysis 2021:
The global Pharmacovigilances market size is projected to rise remarkably on account of the increasing number of chronic and acute diseases and the advent of technologically advanced procedures to diagnose them. Pharmacovigilance is an imaging scanner intensifier used for intraoperative imaging in surgical, orthopaedic, or emergency diagnostic procedures owing to its radiographic abilities. The increasing number of chronic and acute diseases requiring imaging procedures is a crucial factor propelling the Pharmacovigilances market growth. This, coupled with a rise in the demand for minimally invasive procedures, is also expected to aid in the expansion of the market.
Also, the advent of artificial intelligence in radiology for assisting the discovery of genomic markers will boost the market growth in the coming years.On the contrary, factors such as high cost of Pharmacovigilances instruments may pose a significant hindrance to the market in the coming years.
Nevertheless, they have a wide variety of applications such as urology, vascular, neurovascular, spinal surgery, and others. The increasing demand for Pharmacovigilance imaging system from the applications listed above is likely to create lucrative growth opportunities for the market in the coming years.
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