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The pharmacovigiance industry is highly dependent on the pharmaceutical industry that is continuously in the process of developing new drugs. The increasing number of adverse drug reactions (ADRs) along with high prevalence of diseases has augmented the demand for pharmacovigiance solutions. The overall industry focusses on carefully scrutinizing the impact on various drugs once their commercialized. Patient concerns pertaining to safety of the prescribed drugs have been driving this industry over the past few years.

Growing pool of geriatrics, drug development, and increasing outsourcing jobs by pharmaceutical companies have also fueled the rise of the pharmacovigiance industry. The stringent regulation set by government bodies such as the U.S. FDA and EMEA have also played an instrumental role in ensuring the safety of drugs on biotechnology and pharmaceutical companies. This has subsequently resulted in soaring investments in the pharmacovigiance industry. The following report provide a holistic view of the overall industry to the readers.