As per the research report, the Asia Pacific Pharmacovigilance Market was worth USD 0.930 Billion in 2019 and estimated to be growing at a CAGR of 14.86%, to reach USD 1.86 billion by 2024 during the forecast period.
Pharmacovigilance is the science and activities related to the detection, assessment, understanding and prevention of adverse effect and another drug-related problem. The goals of pharmacovigilance are to provide patient safety by providing a system to collect assess and distribute drug safety data. It also involves monitoring approved drugs and investigational medicine product (IMPs).
The APAC region has the fastest growth rate of the pharmacovigilance market. The number of adverse drug reaction is increasing in the area; thus, there is a rise in the demand for pharmacovigilance. The biopharmaceutical sector in the region is developing, and there is a lot of research going in the region on drugs, thus increasing the demand of pharmacovigilance market. The number of clinical trials in the region is rising, which are working on developing innovative medicines and vaccines, which is solely propelling market growth. The countries like India, China, Japan and Australia have the modern infrastructure for pharmacovigilance. The Indian Pharmacopoeia Commission started a training course for the WHO members in the region.
Lack of standardization is a major factor restraining the demand of the market. The number of the skilled workforce for pharmacovigilance is less due to less training programs which are slowly hampering the demand of the market in the Asia Pacific. Lack of awareness in undeveloped countries is hindering the growth rate of the market. Stringent rules and regulations by the government are also impeding the demand of the market.
This research report segmented and sub-segmented into the following categories:
Regional Analysis
The Indian pharmacovigilance market is growing at a brisk pace. The Indian government launched the PvPI (Pharmacovigilance program of India) with the NCC (National Coordination Centre) which monitors the adverse drug reaction in India. Rising geriatric population is also a factor for the growth of the market.
China pharmacovigilance market has the largest share in the Asia Pacific market. The Chinese pharmacovigilance market is one of the leading markets in the world. The government has launched the CADRMS (china adverse drugs reaction monitoring system) for monitoring the ADRs in the country.
Australia and the rest of APAC are to have significant growth rate in the coming years. Escalating expenditure on healthcare is to lavish the growth rate of the market in the coming years.
The Top companies leading in the APAC Pharmacovigilance Market profiled in the report are Boehringer Ingelheim, Accenture, Bristol-Myers Squibb, Covance, ICON, PAREXEL, Quintiles, United BioSource, Synowlwedge and Cognizant Technology Solutions Corporation.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Clinical trial phase
5.1.1 Introduction
5.1.2 Pre-clinical
5.1.3 Phase I
5.1.4 Phase II
5.1.5 Phase III
5.1.6 Phase IV
5.1.7 Y-o-Y Growth Analysis, By Clinical trial phase
5.1.8 Market Attractiveness Analysis, By Clinical trial phase
5.1.9 Market Share Analysis, By Clinical trial phase
5.2 Service provider
5.2.1 Introduction
5.2.2 In-house
5.2.3 Contract outsourcing
5.2.4 Y-o-Y Growth Analysis, By Service provider
5.2.5 Market Attractiveness Analysis, By Service provider
5.2.6 Market Share Analysis, By Service provider
5.3 Method
5.3.1 Spontaneous Reporting
5.3.2 Intensified ADR Reporting
5.3.3 Targeted Spontaneous Reporting
5.3.4 Cohort Event Monitoring
5.3.5 EHR Mining
5.3.5 Y-o-Y Growth Analysis, By Method
5.3.6 Market Attractiveness Analysis, By Method
5.3.7 Market Share Analysis, By Method
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Clinical trial phase
6.1.3.3 By Service provider
6.1.3.4 By Method
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Clinical trial phase
6.1.4.3 By Service provider
6.1.4.4 By Method
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Clinical trial phase
6.1.5.3 By Service provider
6.1.5.4 By Method
6.2 China
6.3 India
6.4 Japan
6.5 South Korea
6.6 Australia
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Boehringer Ingelheim
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Accenture
8.3 Bristol-Myers Squibb
8.4 Covance
8.5 ICON
8.6 PAREXEL
8.7 Quintiles
8.8 United BioSource
8.9 Synowlwedge
8.10 Cognizant Technology Solutions Corporation
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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