With the rise in the occurrence of diseases, there has been the rise in consumptions of drugs, which in turn has led to increased reporting of adversities and drug toxicities. This has led to the rise in regulatory concerns and public health safety issues and hence provided the indispensable stimulus for the Pharmacovigilance market. According to the report provided by transparency market research, the global Pharmacovigilance market is estimated to reach USD 5,008.2 million in 2019 globally, at a CAGR of 12.9% from 2013 to 2019. Among the clinical trial phases, Phase IV clinical trial safety reporting market has the biggest market share of 74.7% (USD 1,604.8 million in 2012) and is estimated to hold this position till 2019.
Pharmacovigilance and clinical trials have evolved considerably in the past few decades to meet the expectations of the public and modernization of human health. With the ever-increasing globalization, communication, Internet access, free trade across countries and easy access to drugs there is continuing demand for further development and stringencies in PV and clinical trials.



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