This report describes the global market size of veterinary pharmacovigilance market from 2018 to 2021 and its CAGR from 2018 to 2021, and also forecasts its market size to the end of 2030 and it is expected to grow with a CAGR of 14% from 2023 to 2030.
Veterinary pharmacovigilance is the monitoring, assessment, and improvement of the safety of veterinary drugs, with a focus on adverse events in animals and people associated with their use. Increasing approvals of veterinary pharmaceutical products, knowledge of and need for veterinary pharmacovigilance reporting, the requirement for regulatory compliance, and activities by both public and private market participants are some of the major drivers influencing the industry's growth. The EMA's recommendations for veterinary good pharmacovigilance practises took effect in Europe in January 2022. These emphasise continuous signal management, the upkeep of a master pharmacovigilance file by the holder of the marketing authorization, and regulatory pharmacovigilance inspections.
Due to the COVID-19 pandemic and Russia-Ukraine war influence, the global market for veterinary pharmacovigilance market estimated at US $ million in the year 2022, is projected to reach a revised size of US$ million by 2030, growing at a CAGR of 14% during the forecast period 2023-2030. North American market for Veterinary Pharmacovigilance Market is estimated to increase from $million in 2022 to reach $ million by 2030, at a CAGR of XX% during the forecast period of 2023 through 2030.
For geography segment, regional supply, demand, major players, price is presented from 2018 to 2030. This report covers following regions:
Middle East and Africa
The key countries for each region are also included such as United States, China, Japan, India, Korea, Germany, France, UK, Italy, Spain, and Brazil etc.
For competitor segment, the report includes global key players of Veterinary Pharmacovigilance Market as well as some small players. The information for each competitor includes:
Main Business Information
Sales Volume, Revenue, Price and Gross Margin
The in-house segment had the largest market share by type in 2022. On the other hand, the contract outsourcing market is projected to expand at a remarkable rate of more than 14.2%. This is brought on by the rise in product approvals, the expansion of the animal health industry, and the outsourcing of pharmacovigilance functions by small and medium-sized animal health enterprises in an effort to save costs and save time. Another important factor driving the market is efforts made by industry participants to expand their product offerings.
For instance, Medfiles added to its veterinary staff by hiring a veterinarian in February 2019. This made it possible for the business to provide an even wider range of services. This included veterinary expertise in its services as well as consulting, training, national and international pharmacovigilance services, marketing authorization applications, and product lifecycle management.
In 2022, software solutions led the market, while services are expected to increase at 14.2% CAGR. Electronic reporting systems and pharmacovigilance services to streamline regulatory compliance procedures are driving market shares. In the coming years, market initiatives by corporations should boost growth. Ennov, a market leader, helped a long-term Animal Health customer move its pharmacovigilance activities to a SaaS cloud environment in November 2022.
ArisGlobal, a market leader, purchased Signal Analytics Engine- Benefit-Risk Analytic System (BRASS) from Boehringer Ingelheim in May 2022. Drug safety causative analysis is supported by BRASS software in highly regulated situations. To help organisations process massive safety data volumes, ArisGlobal added it to LifeSphere. Pharmacovigilance and patient safety improved.
Anti-infectives dominated the market in 2022 with over 45.3%. Anti-infectives were the most pharmacovigilance-reported products. The French Agency for Food, Environmental, and Occupational Health & Safety (ANSES) 2021 Post-MA surveillance report found that pharmacovigilance reports most often mentioned external parasitics, antimicrobials, internal parasitics, and endectoparasiticides.
Due to increased R&D and veterinary vaccine launches, the biologics segment is expected to grow at over 14.2%. Multiple market players' solutions should boost market growth. Azierta Contract Science Support Consulting provides Vigialzierta-VET pharmacovigilance software, veterinary QPPV support, pharmacovigilance system support, management, and maintenance, signal detection, and other services to animal health customers.
By Animal Type
In 2022, dogs dominated the market with 50.5%. Livestock and horses will expand 15.2% from 2023 to 2030. The expansion is driven by rising animal product consumption, pet population and humanization, animal owner awareness, and regulatory compliance.
According to the 2020 EMA annual bulletin, EudraVigilance Veterinary received 29,474 companion animal product-related adverse event reports in 2019. Dog and cat reports were most common, with 3,228 food-producing animal reports. These reports came mostly from Europe, the U.S., Brazil, Canada, and 54 other nations.
Middle East & Africa
North America dominated the market in 2022 with 40.5%. Veterinary drug regulation is a major factor. The Rational Questionnaire (RQ) in the Safety Reporting Portal (SRP) and the Electronic Submissions System (ESS) allow veterinary medication adverse event submissions to the FDA's Centre for Veterinary Medicine (CVM). FDA can detect safety and effectiveness issues with approved and marketed new animal medicines and product/manufacturing issues by continuously monitoring NADAs and ANADAs.
Asia Pacific is expected to expand at 15.2% CAGR. Animal owners are becoming more aware of animal health and the hazards of veterinary medications. As pet ownership rates climb, more people are seeking high-quality veterinary care for their pets and reporting adverse drug responses.
Sarjen Systems Pvt. Ltd.
Pharsafer Associates Limited
Azierta Contract Science Support Consulting
Oy Medfiles Ltd.
Other Key Players
Please ask for sample pages for full companies list
Base Year: 2022
Historical Data: from 2018 to 2021
Forecast Data: from 2023 to 2030
Any special requirements about this report, please let us know and we can provide custom report.