Pharmacovigilance Market Size, Share, Growth, Trend & Forecast to 2032 | Credence Research
The latest market report published by Credence Research, Inc. The global demand for Pharmacovigilance Market was valued at USD 8615.2 Million in 2023 and is expected to reach USD 18557.3 Million in 2032, growing at a CAGR of 8.90% between 2024 and 2032. Pharmacovigilance, often referred to as drug safety, is a crucial component of the pharmaceutical industry that involves the detection, assessment, and prevention of adverse effects or any other drug-related problems. With the increasing complexity of drugs and a rising number of patients relying on them, pharmacovigilance has become indispensable. The global pharmacovigilance market has witnessed remarkable growth in recent years, driven by various factors such as regulatory requirements, drug safety concerns, and advancements in technology. Market Growth Factors: 1. Regulatory Requirements: Regulatory bodies worldwide have implemented stringent guidelines for pharmaceutical companies to ensure patient safety. Compliance wi...