Pharmacovigilance Market Share , Size , Analysis , Growth , Industry Trends and Forecast to 2020 - Hexa Research
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Pharmacovigilance Market Share , Size , Analysis , Growth , Industry Trends and Forecast to 2020 - Hexa Research
“ Increasing rate of adverse drug reaction coupled with rising drug consumption globally is anticipated to propel the market growth for pharmacovigilance market .”
The global Pharmacovigilance Market is expected to grow at a CAGR nearly 9.7 % during the forecast period ( 2014 to 2020 ). This industry was valued at approximately USD 2410 million in 2013 . High incidence of adverse drug reaction ( ADR ) and stringent regulatory norms pertaining to drug safety drive the overall industry . Pharmacovigilance , also known as drug safety involves testing the effects of medical drugs once these have been approved & licensed for use . This is done basically to identify & evaluate adverse reactions that had gone unreported in the past .
It utilizes pharmacological science that helps in the collection , assessment , detection , monitori ng , and prevention of drug reactions after pharmaceutical drugs have been consumed . Issues of drug toxicity , rising cases of chronic ailments , and an ever-expanding geriatric population cumulatively impact overall industry demand .
Browse Details of Report @ https :// www . hexaresearch . com / research-report / pharmacovigilance-industry
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