Inside the Growing Pharmacovigilance Market: What’s Fueling Demand?
The global healthcare landscape continues to evolve, and with it, the importance of drug safety has reached unprecedented levels. As pharmaceutical innovations soar and biologics, gene therapies, and personalized medicine become the norm, the need for robust pharmacovigilance systems has never been more critical. The Pharmacovigilance Market is poised to grow steadily, with a projected CAGR of 6.6% from 2025 to 2031 , as healthcare providers, regulatory agencies, and pharmaceutical companies prioritize the safety and efficacy of medications. What is Driving Pharmacovigilance Market Growth? At its core, pharmacovigilance refers to the activities related to the detection, assessment, understanding, and prevention of adverse effects or any other drug-related problems. The market’s expansion is closely tied to a number of industry-wide developments. 1. Stringent Regulatory Compliance Governments and regulatory authorities across the globe, including the FDA , EMA , and PMDA , are tighte...