Pharmacovigilance is the science and activities related to the detection, assessment, understanding and prevention of adverse effects or any other drug-related problems. It involves the ongoing monitoring of the safety of medicinal products after they have been approved for marketing, to ensure that their benefits continue to outweigh their risks. The goal of pharmacovigilance is to improve patient safety by detecting and minimizing potential harm from medicines. This is done through the collection and analysis of data from various sources such as spontaneous reporting systems, clinical trials, and observational studies. The findings from these efforts are then used to make recommendations for the safe and effective use of medicines, and to inform regulatory and policy decisions.
The principal goal of pharmacovigilance is to influence safer usage of medicines. But, it faces increasing pressure to analyze more data sooner, monitor risks more broadly, and accurately report patient events globally.
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Pharmacovigilance Drivers, Restraints, and Opportunities:
Pharmacovigilance is the science and activities related to the detection, assessment, understanding, and prevention of adverse effects or any other drug-related problems.
Drivers:
· Increasing demand for safe and effective medicines
· Stringent regulatory requirements for drug safety
· Technological advancements in drug safety and risk management
· Growing awareness about adverse drug reactions
· Rising incidence of chronic diseases leading to increased use of drugs
Restraints:
· Lack of harmonization in pharmacovigilance regulations across countries
· Limited resources and inadequate infrastructure for pharmacovigilance in developing countries
· Incomplete or unreliable reporting of adverse drug reactions
· High cost of pharmacovigilance programs
· Difficulty in detecting rare adverse events
Opportunities:
· Expansion of pharmacovigilance services into developing countries
· Growing market for pharmacovigilance software and services
· Increasing investment in pharmacovigilance by pharmaceutical companies
· Expansion of pharmacovigilance to cover herbal and complementary medicines
· Development of new and innovative technologies for pharmacovigilance.
Major Companies in the Market Include: Accenture Plc, Bristol-Myers Squibb, Clinquest Group B.V., Cognizant Technology Solutions, Covance, Inc., GlaxoSmithKline, ICON, Plc, iGATE Corporation, Arriello, iMEDGlobal Corporation, Diamond Pharma Services, Infosys, Ergomed plc, inVentiv Health Inc., APCER Life Sciences, ArisGlobal, and Johnson and Johnson.
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Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Clinical Trail Phases
- Market Snippet, By Type of Method
- Market Snippet, By Type of Service Providers
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Highlights
- Product launch
- PEST Analysis
- Technological Advancements
- Regulatory Scenario
- Mergers and Acquisitions
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