Europe Pharmacovigilance Market Forecast Report with Growth Prospects and Market Sizing 2028

MANHATTAN, N.Y. - June 22, 2023 - PRLog -- The Europe pharmacovigilance market is expected to undergo significant growth during the forecast period owing to the presence of strict regulatory framework for drug testing and approval in the region. Rising number of chronic disorders have led to increasing demand and consumption of pharmaceutical drugs. With increase in the manufacture of suitable drugs, the pharmacovigilance market is witnessing massive growth in the region. Further, mandatory drug safety monitoring by government is creating huge growth opportunities for pharmacovigilance service providers. Additionally, the pharmacovigilance market is gaining support for its growth with increasing number of pharmaceutical companies and harmonization practices. Moreover, spike in cases of Adverse Drug Reaction (ADR) is a major concern in Europe, which is expected to contribute to the growth of pharmacovigilance market during the forecast period. The fast pace of life and changing lifestyle pattern have led to lack of physical activities and poor diets, which results in increase in amount of drug consumption by an average individual. With growing consumption of pharmaceutical drugs, the pharmacovigilance market is expected to undergo massive growth until 2028. Also, patent expiration of branded drugs and increasing number of new drug developments are other key factors supporting the growth of Europe pharmacovigilance market.

Growing incidences and prevalence of chronic diseases such as diabetes, hypertension, cardiovascular diseases, asthma, cancer, among others are likely to strengthen the growth of the market. According to the World Health Organisation (WHO), there are around 60 million people with diabetes in the Europe, out of which 10.3% are men and 9.6% are women aged 25 years and over. Moreover, rising elderly population is also a supporting factor as they are highly susceptible to these diseases. The rising number of cases of chronic diseases in the region is surging the demand for drugs, thereby, fuelling the growth of the market. In 2021, over one fifth (20.8 %) of the Europe population was aged 65 and above.

Major players operating in the Europe pharmacovigilance market include Accenture PLC, Boehringer Ingelheim GmbH, Bristol-Myers Squibb SARL, Clinquest Group B.V., F Hoffmann-La Roche AG, Foresight Group International AG, ICON PLC, GlaxoSmithKline PLC, Novartis AG and Capgemini SE. The companies are investing on R&D activities to offer more advanced services. Some leading players are also undertaking growth strategies such as  collaborations, partnerships and alliance to increase their market reach in the region.

Browse XX market data Tables and XX Figures spread through XXX Pages and an in-depth TOC on  "Europe Pharmacovigilance Market"

https://www.techsciresearch.com/report/europe-pharmacovigilance-market/4843.html

Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4843