The increasing incidents of adverse drug reactions (ADR) have put the spotlight on the significance of pharmacovigilance again. According to the United Nations Office on Drugs and Crime (UNODC), approximately 36 million people worldwide suffered from drug use disorders last year. Regulators and pharmaceutical companies are hence redoubling their efforts to detect, assess, understand, and prevent ADR.
The laser focus of pharmaceutical companies on that front is to automate tracking, task monitoring, and data collection. While electronic data capture (EDC) is increasingly being used to store patient data during clinical trials, cloud technology is also proving ideal for providing an integrated database for all the stakeholders involved. Amid such trends, the pharmacovigilance market size is expected to increase at a CAGR of 10.5 percent between 2022 and 2030, reaching $17.36 billion.
To put the spotlight on key developments in the domain, Pharma Tech Outlook highlights the vital advancements in the pharmacovigilance space and how pharmacovigilance solutions and service providers leverage them to aid companies in complying with clinical safety, regulatory, and quality requirements. The edition features thought leadership articles from Olga Minkov, Executive Director, Operations – Pharmacovigilance & Epi., at Gilead Sciences, Sebastian Horn, Vice President, Head of Global Patient Safety & Pharmacovigilance, Teva Pharmaceuticals. They throw light on the recent innovations in the pharmacovigilance space and how those advancements are aiding pharmaceutical companies in ensuring drug safety.
In this edition of Pharma Tech Outlook magazine, we also bring you the story of some of the top pharmacovigilance solutions and service providers in Europe that deliver the best outcomes for their clients, including Flex Databases and PVpharm. Flex Databases Pharmacovigilance is a comprehensive drug safety database that ensures robust and compliant pharmacovigilance activities both within clinical trials and post-approval stages. On the other hand, PVpharm provides leading-edge pharmacovigilance, clinical safety, regulatory, and quality solutions for the pharmaceutical industry.
Through the following pages, we aim to shine a light on the innovative trends and latest developments in the pharmacovigilance space. We would like to know your thoughts.
