Asia-pacific Drug Safety Solutions And Pharmacovigilance Market Gains Momentum During Forecast Perio

By Author: DBMR
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Asia-Pacific drug safety solutions and pharmacovigilance market is projected to register a substantial CAGR in the forecast period of 2019 to 2026.
Drug safety and pharmacovigilance was introduced 170 years ago for detection, assessment, and understanding of the drug action. Pharmacovigilance came into picture because the adverse reactions were observed, a young woman from the north of England recorded for ADRs reactions which lead to her death in January 1848. The experiment was discovered by Sir James Simpson that chloroform was a powerful anesthetic and for safer use it can be applied in the clinical practices. The cause of Hannah’s death was studied in order to understand what happened to Hannah as it was difficult to assess the cause of her death and it was assumed that probably lethal arrhythmia or pulmonary aspiration was the main reason leading to such unfavourable situation. Further, on 6 June 1960, the U.S. FDA was formed to ensure that the established drugs discovered and commercialized are pure and free of any contamination. Additionally, in 1961, the U.S. FDA also prohibited false therapeutic indications ...
... of drugs.
Also, in 1961, European Pharmacovigilance was established after the tragedy of thalidomide which caused an adverse drug reaction named as phocomelia. In 1975, Practolol, a beta-receptor blocker agent, caused sclerosing peritonitis, and most recent is the event of 2007, where veralipride, a CNS depressant agent, caused so many ADRs such as anxiety, depression and movement disorders. Thus the medicines are made for life saving purpose, not for life threatening purpose. In the U.S., ADRs are among the top 10 causes of death, and in the U.K., it was observed that ADRs may cause 5,700 deaths per year.
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Segmentation: Asia-Pacific Drug Safety Solutions and Pharmacovigilance Market
Asia-Pacific drug safety solutions and pharmacovigilance market is segmented into three notable segments which are type, end user and distribution channel.
· On the basis of type, the market is segmented into software and services
· On the basis of end user, the market is segmented into hospitals, healthcare providers, pharmaceutical & biotechnology industries, KPOs/BPOs, contract research organizations (CROS) and others
· On the basis of distribution channel, the market is segmented into direct sales and retail sales
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Asia-Pacific Drug Safety Solutions and Pharmacovigilance Market By Type (Software, Services), End Users (Biotechnology & Pharmaceuticals, Contract Research Organizations (CROS), Hospitals, KPOs/BPOs, Healthcare Providers), Distribution Channel (Direct Sales, Retail Sales), Country (China, Japan, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific) – Industry Trends and Forecast to 2026
Competitive Analysis: Asia-Pacific Drug Safety Solutions and Pharmacovigilance Market
Some of the major players operating in Asia-Pacific drug safety solutions and pharmacovigilance market are Pharmaceutical Product Development, LLC, Drug Safety Solutions Limited, C3i, Worldwide Clinical Trials, Bioclinica, United Biosource LLC, Ennov, AB Cube, Covance Inc., Accenture, PRA Health Sciences, Inc., Ergomed, IQVIA, Genpact, Cognizant, Parexel International Corporation, ArisGlobal, ICON plc, Oracle, Syneos Health among others.
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Recent Developments
In November 2019, Oracle launched safety-reporting platform in China with dMed Biopharmaceuticals. The company will provide pharmacovigilance systems to Chinese drug makers and clinical research organisations (CROs). The product launch will help the company to increase its market share in China.
In July 2019, Parexel International Corporation announced that they have expanded their capabilities of optimizing and commercialization of drug development in the Asia-Pacific region. By this expansion the company expands their business in the Asia-Pacific.
In April 2019, Bioclinica launched NAFLD/NASH which is the practises of clinical trials. This launch helped in the development and advancement of medical therapies. NAFLD/NASH helped in the prevalence and understanding of the clinical development to assess liver fat parameters. The launch helped in drug intervention and replacing the liver biopsies with various clinical methods.
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Research Methodology: Asia-Pacific Drug Safety Solutions and Pharmacovigilance Market
Primary Respondents:
Key Opinion Leaders (KOL’s): Doctors, Healthcare Professionals, Researchers, Distributors, and Industrialists
Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers
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