Global AI in Pharmacovigilance Market Size is predicted to grow at an 14.6% CAGR during the forecast period for 2025-2034.
In the context of pharmacovigilance, artificial intelligence (AI) refers to the use of machine learning, natural language processing, and other AI technologies to improve the monitoring, detection, evaluation, and avoidance of adverse drug reactions and associated problems. Automating data extraction, signal detection, and case processing contributes to the simplification of frequently laborious pharmacovigilance procedures. The need to automate the processing of adverse event data, strict regulatory requirements, improvements in AI analytics, the potential for cost savings, and the growing utilization of real-world evidence are the main factors propelling AI in the pharmacovigilance industry. These elements change the way pharmacovigilance procedures are carried out, guaranteeing quicker and more precise safety evaluations.
Moreover, AI integration in pharmacovigilance services contributes to the improvement of the efficacy and efficiency of the medication monitoring safety procedure. With the use of AI during the projection period, AI in the pharmacovigilance industry may grow even more. However, increased data privacy concerns and high implementation costs are impeding the growth of AI in the pharmacovigilance market. Additionally, the market potential for AI in pharmacovigilance includes the expanding use of cloud-based pharmacovigilance systems and the expansion of partnerships between pharmaceutical companies and AI businesses.
Some of the Key Players in AI-Enhanced Minimally Invasive Devices Market:
The AI in Pharmacovigilance market is segmented based on component, deployment, end-user. Based on component, the market is segmented into Software and Services. By deployment, the market is segmented into On-premises and Cloud-based. By end-user, the market is segmented into Pharmaceutical and Biotech Companies, Contract Research Organizations (CROs), and Others.
The software category is expected to hold a major global market share in 2021 because artificial intelligence is being used more and more for adverse event detection and drug safety monitoring. Pharmacovigilance procedures are becoming more accurate and efficient as a result of pharmaceutical corporations and regulatory bodies using AI-driven software to automate signal recognition, case processing, and risk evaluation. The need for advanced analytics and machine learning algorithms integrated into pharmacovigilance software is being driven by the increase in adverse drug reaction (ADR) reports as well as strict regulatory regulations.
In terms of market share, the pharmaceutical and biotech companies segment was the largest in 2021. Strong R&D by pharmaceutical businesses to introduce successful medications has opened up a plethora of options for this sector to offer its software or services. As a result of the ongoing introduction of drugs, these businesses have adopted these services. Furthermore, it is anticipated that pharmaceutical companies' increased inspection efforts for adverse drug responses will fuel the segment's expansion in the AI in Pharmacovigilance market.
The North American AI in Pharmacovigilance market is expected to register the highest market share in revenue in the near future because of the region's robust regulatory environment, growing use of AI-powered medication safety solutions, and the existence of important technology and pharmaceutical firms. Investments in AI-based adverse event identification and signal management have been fueled by the U.S. Food and Drug Administration's (FDA) aggressive promotion of AI integration to improve drug safety monitoring.
In addition, Asia Pacific is projected to grow rapidly in the global AI in Pharmacovigilance market, driven by an increase in pharmaceutical companies, a rise in drug approvals, and a rising focus on patient safety. A rise in clinical trial activity, regulatory changes, and the need to speed up adverse event reporting have led to a greater adoption of AI-based pharmacovigilance systems in countries such as China, Japan, and India.
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 14.6 % from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Mn,and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Component, Deployment End-User, and By Region |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
Medtronic Plc, Intuitive Surgical, Inc., Boston Scientific Corporation, GE HealthCare, Fujifilm Holdings Corporation, Stryker Corporation, Siemens Healthineers, Johnson & Johnson (Ethicon + Auris Health), Olympus Corporation, Zimmer Biomet, Asensus Surgical, Inc., CMR Surgical, Auris Health (J&J Subsidiary) |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global AI in Pharmacovigilance Market Snapshot
Chapter 4. Global AI in Pharmacovigilance Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Porter's Five Forces Analysis
4.7. Incremental Opportunity Analysis (US$ MN), 2024-2034
4.8. Competitive Landscape & Market Share Analysis, By Key Player (2023)
4.9. Use/impact of AI on AI in Pharmacovigilance Market Industry Trends
4.10. Global AI in Pharmacovigilance Market Penetration & Growth Prospect Mapping (US$ Mn), 2021-2034
Chapter 5. AI in Pharmacovigilance Market Segmentation 1: By Component, Estimates & Trend Analysis
5.1. Market Share by Component, 2024 & 2034
5.2. Market Size Revenue (US$ Million) & Forecasts and Trend Analyses, 2021 to 2034 for the following Component:
5.2.1. Software
5.2.2. Services
Chapter 6. AI in Pharmacovigilance Market Segmentation 2: By Deployment, Estimates & Trend Analysis
6.1. Market Share by Deployment, 2024 & 2034
6.2. Market Size Revenue (US$ Million) & Forecasts and Trend Analyses, 2021 to 2034 for the following Deployment:
6.2.1. On-premises
6.2.2. Cloud-based
Chapter 7. AI in Pharmacovigilance Market Segmentation 3: By End-user, Estimates & Trend Analysis
7.1. Market Share by End-user, 2024 & 2034
7.2. Market Size Revenue (US$ Million) & Forecasts and Trend Analyses, 2021 to 2034 for the following End-user:
7.2.1. Pharmaceutical and Biotech Companies
7.2.2. Contract Research Organizations (CROs)
7.2.3. Others
Chapter 8. AI in Pharmacovigilance Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. Global AI in Pharmacovigilance Market, Regional Snapshot 2024 & 2034
8.2. North America
8.2.1. North America AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
8.2.1.1. US
8.2.1.2. Canada
8.2.2. North America AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by Component, 2021-2034
8.2.3. North America AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by Deployment, 2021-2034
8.2.4. North America AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2021-2034
8.3. Europe
8.3.1. Europe AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
8.3.1.1. Germany
8.3.1.2. U.K.
8.3.1.3. France
8.3.1.4. Italy
8.3.1.5. Spain
8.3.1.6. Rest of Europe
8.3.2. Europe AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by Component, 2021-2034
8.3.3. Europe AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by Deployment, 2021-2034
8.3.4. Europe AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2021-2034
8.4. Asia Pacific
8.4.1. Asia Pacific AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
8.4.1.1. India
8.4.1.2. China
8.4.1.3. Japan
8.4.1.4. Australia
8.4.1.5. South Korea
8.4.1.6. Hong Kong
8.4.1.7. Southeast Asia
8.4.1.8. Rest of Asia Pacific
8.4.2. Asia Pacific AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by Component, 2021-2034
8.4.3. Asia Pacific AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by Deployment, 2021-2034
8.4.4. Asia Pacific AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2021-2034
8.5. Latin America
8.5.1. Latin America AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
8.5.1.1. Brazil
8.5.1.2. Mexico
8.5.1.3. Rest of Latin America
8.5.2. Latin America AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by Component, 2021-2034
8.5.3. Latin America AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by Deployment, 2021-2034
8.5.4. Latin America AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2021-2034
8.6. Middle East & Africa
8.6.1. Middle East & Africa Wind Turbine Rotor Blade Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
8.6.1.1. GCC Countries
8.6.1.2. Israel
8.6.1.3. South Africa
8.6.1.4. Rest of Middle East and Africa
8.6.2. Middle East & Africa AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by Component, 2021-2034
8.6.3. Middle East & Africa AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by Deployment, 2021-2034
8.6.4. Middle East & Africa AI in Pharmacovigilance Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2021-2034
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. WNS
9.2.1.1. Business Overview
9.2.1.2. Key Component/Service Overview
9.2.1.3. Financial Performance
9.2.1.4. Geographical Presence
9.2.1.5. Recent Developments with Business Strategy
9.2.2. Accenture Plc
9.2.3. IQVIA Inc
9.2.4. Oracle
9.2.5. PAREXEL International Corporation
9.2.6. Cognizant
9.2.7. Aris Global
9.2.8. Other Prominent Players
Segmentation of AI in Pharmacovigilance Market-
AI in Pharmacovigilance Market by Component-
AI in Pharmacovigilance Market by Deployment-
AI in Pharmacovigilance Market by End-User-
AI in Pharmacovigilance Market by Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
