Pharmacovigilance Market Size Worth USD 20 billion by 2034

The global Pharmacovigilance Market was valued at USD 8.70 billion in 2024 and is projected to grow at a CAGR of 8.9% from 2025 to 2034. Increased regulatory focus and growing drug safety monitoring needs are boosting the market.

Key Trends & Insights:

AI Integration in Drug Monitoring: Advanced analytics and AI-driven systems are being adopted to streamline adverse event detection, reducing time and improving pharmacovigilance accuracy.
Growing Regulatory Requirements: Stringent global regulations are compelling pharmaceutical companies to invest in robust pharmacovigilance systems to ensure compliance and avoid legal consequences.
Rise in ADR Cases: Increasing incidence of adverse drug reactions (ADRs), especially with newly launched therapies and biologics, is propelling demand for proactive pharmacovigilance.
Outsourcing Gains Momentum: Pharma and biotech firms are increasingly outsourcing pharmacovigilance services to specialized CROs and service providers to manage rising costs and complexity.

Market Overview

The pharmacovigilance market is evolving rapidly as drug safety monitoring becomes an integral aspect of pharmaceutical product lifecycle management. With the growing number of clinical trials and rapid drug launches, ensuring real-time safety data collection and analysis has become essential. Governments and regulatory agencies globally are reinforcing post-marketing surveillance, pushing pharmaceutical firms to enhance their pharmacovigilance infrastructure.

Emerging technologies like automation, natural language processing, and cloud-based solutions are being embraced to improve signal detection and adverse event reporting. Additionally, the COVID-19 pandemic highlighted the importance of swift pharmacovigilance systems, further boosting market investment and innovation in this sector.

Request For Sample:

https://www.polarismarketresearch.com/industry-analysis/pharmacovigilance-market/request-for-sample

Market Size & Forecast (2025–2034)

Market Size (2025): USD 9.5 billion
Revenue Forecast (2034): USD 20 billion
CAGR (2025–2034): 8.90%

Conclusion

Driven by AI integration, regulatory pressure, and rising ADRs, the pharmacovigilance market is poised for significant growth, offering robust opportunities for innovation, partnerships, and safer drug development.