The size of the Pharmacovigilance Market in Europe was worth USD 1.34 billion in 2020 and estimated to be growing at a CAGR of 13.9% to reach USD 2.58 billion by 2025 during the forecast period.
In 2019, the European region had the second-largest market share of the global pharmacovigilance market following North America. The EU has also developed a pharmacovigilance center called Eudra Vigilance in the area to reduce the time required for the clinical trials, which is boosting the market growth. There is a sizeable technological advancement in the field of pharmacovigilance, which is promoting the market growth. There are many biopharmaceutical companies in the region, which are doing research and development in drugs, leading to a rise in the number of clinical trials and is estimated to favor market growth.
The pharmacovigilance system consists of different technologies where it is difficult to maintain without skilled persons. The lack of this specialized expertise is significantly hindering the demand of the market. There is a lack of technological innovation in the pharmacovigilance, impeding the need for the market in Europe. Strict rules and regulations by the government in approving new drugs are also slowly degrading the market demand.
This research report segmented and sub-segmented into the following categories:
Regional Analysis
In Europe, the United Kingdom's pharmacovigilance market is growing at a significant rate. Around 6.5% of the cases admitted in the hospital of the UK are of an adverse drug reaction; thus, there is an excellent demand for pharmacovigilance in the UK. Increasing awareness through social media is also a factor fuelling the need of the market.
The pharmacovigilance market in Germany is next in line after the United Kingdom shows a robust growth rate. Increasing incidences of chronic diseases and a rise in the demand for quality treatment services escalate the market's growth rate.
The French government is developing a pharmacovigilance system for veterinary products, which is estimated to boost the country's market.
Key players operating in the Europe Pharmacovigilance Market profiled in this 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 U.K
6.3 Spain
6.4 Germany
6.5 Italy
6.6 France
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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