Pharmacovigilance is the process of detecting, tracking, analyzing, and preventing negative side effects of drugs. Pharmacovigilance allows manufacturers and regulators to continue studying drugs and their effects after the drugs are released. With the global pharmaceutical market worth over $1 trillion and growing at a projected cumulative annual growth rate (CAGR) of 6% from 2014 to 2020, added to the increasing geriatric population and rising burden of chronic and nonchronic disease, it is no surprise that the worldwide market for pharmacovigilance services is projected to be worth $6.1 billion in revenue by 2020.
This increase is giving a lot of changes in the pharmacovigilance market, seQure Life Sciences decided to summarize below what are happening during the last time:
To download our infographic, click here.