Sollers College

Tag: Global Marketing Trends of Pharmacovigilance

  • Scope of Pharmacovigilance in Coming Years after COVID Vaccine

    Scope of Pharmacovigilance in Coming Years after COVID Vaccine

    2020 gave rise to the most devastating epidemic in modern history, but it also provoked amazing breakthroughs across Clinical research and Pharmacovigilance stewardship. Rising incidences of ADR during COVID vaccine have elevated the importance of Pharmacovigilance in the market.   

    As per the reports, from 2020-2027, the market is estimated to grow with a 7.6% CAGR, and the global market is expected to grow nearly triple to $12 billion by 2027 with the surge in the application for electronic health record mining, intensified drug report monitoring, cohort event monitoring, spontaneous reporting.

    There has been a steeping demand for pharmacovigilance services because of the developing predominance of chronic diseases, respiratory disorders, cancer symptoms, and rising drug consumption.In addition to this, a vast rate of adverse drug reactions (ADRs) have added a substantial strain on the healthcare sector, pointing to the augmented demand for Pharmacovigilance.

    The increasing trend of outsourcing PV services to CROs and BPOs has derived from an effective drug regulation system. These outsourcing substances contribute to pharmacovigilance services with high regulatory compliance, improved productivity, and more remarkable strategic outcomes, thus expanding the global PV market. 

    The critical factor for expanding the pharmacovigilance market is the governments’ strict drug safety policies and regulations.  Also, around 5% of total hospitalizations are due to those adverse reactions. Therefore, the scope of pharmacovigilance is cumbersome as countries have to produce solutions to evade these adverse drug reactions.

    Intense post-market monitoring mechanisms set up by various government regulatory agencies increasingly focus on the safety and efficacy of pharmaceutical products after they are launched in the market.. So, there will be no shortage of jobs in this sector. Candidates will obtain many job openings in pharmaceutical companies along with a few positions in the public sector.

    To make a more glorious future in Pharmacovigilance, enroll in Pharmacovigilance Courses to get the best training from industry experts. Sollers offers certification and a Master’s program in Drug Safety and Pharmacovigilance along with Adverse Drug Reaction programs. 

  • Evolvement of Pharmacovigilance in Coming Years

    Evolvement of Pharmacovigilance in Coming Years

    Pharmacovigilance (PV), the method of identifying, tracking, evaluating, and anticipating adverse outcomes from drug therapies, is a division that has seen enormous growth in recent years. Hence Pharmacovigilance training becomes necessary to meet the current requirements.

    The pharma industry is welcoming the huge transformation initiatives at a faster pace than ever over the coming years. The difficulties of building and maintaining progressively more complex pharmacovigilance systems in a globally different and evolving managerial environment are growing day by day. 

    Leveraging technologies – including mobile applications, cloud-based solutions, and technology for big data analytics – will allow companies to move toward end-to-end automation across the PV spectrum. Embracing advanced technology solutions and next-generation automation will position companies to meet the future’s PV challenges and stay ahead of the curve.

    Strong technical and PV experience is expected to drive the highly regulated policies while giving comprehensive, end-to-end PV automation solutions. Pharmaceutical companies started defining a clear vision, building strategies and initiatives with specified milestones and selecting strong Drug Safety professionals with a proven track record in PV delivery, safety technology, and regulatory reporting.

    Close the information gap and lead pharmacovigilance from a state of reactive to proactive? It demands some proactive planning and partnering to spool-up a patient adherence and patient support program, but you can be ready with the right partner.

    The new tools, data, and procedures are unquestionably paving the way to a more radiant and insightful prospects.

    •  The requirement for making pharmacovigilance following to its primary focus.
    • The demand for a whole systems approach.
    • Having a united drug safety-clinical database for advanced data acquisition.
    • Necessitate for regulatory harmonisation.

    Automation and standardization of PV processes and safety data management boost efficiencies, quality and compliance. Proactive PV knows and predicts rising safety signals in data mining techniques. Superior cognitive solutions extract, code and process AE data while AI empowers clear views of safety issues, giving transparency to establish trust.The main objective of Pharmacovigilance is that detecting the drug-induced adverse reactions in medicine’s life cycle to take appropriate actions to minimize the impact on patients.

    Are you looking to do job oriented certification in drug safety pharmacovigilance? Get an edge to your skills with these popular tech skills. We leverage our decades-long expertise and experience to maximize your opportunities in coming years.

  • Exciting Jobs in Drug Safety

    Exciting Jobs in Drug Safety

    Drug Safety has expanded considerably as a discipline over the past few years. Because of its massive prevalence in the market most of the students choose their careers in this swiftly emerging & challenging sector. 

    Today, many healthcare companies are inclined towards Drug Safety. Based on the level of exposure achieved, career progression in Drug Safety can lean towards line management or a more technical direction. 

    Let’s have a look at the trending positions in Drug Safety sector(Line Management): 

    Exciting jobs in Drug SafetyDrug Safety Coordinator:

    Responsible for the receipt and data entry of adverse event records following organizational standard operating procedures, internal business practices, and regulatory guidance documents to ensure compliance with worldwide safety regulations and corporate policies.

    Drug Safety Associate:

    A Drug Safety Associate is accountable for evaluating pharmaceuticals drugs safety once they’re on the market. Using standardized guidelines, they determine whether the medication causes any adverse reactions in patients and report their findings to the pharmacovigilance department.

    PV Officer: 

    PV officers liaise closely with drug and medical organization representatives, doctors, patients, and other healthcare specialists to record drugs and other practices’ effectiveness. The data is recorded, analyzed, and processed because pharmacovigilance officers’ informed opinions will help pharmaceutical corporations enhance product safety and performance and cut down on adverse effects.

    Drug Safety Scientist: 

    Prepare safety assessment reports and other safety documents and regulatory responses. Manage actions relating to the processing, follow-up, analysis, and regulatory reporting of adverse events (AEs) and serious adverse events (SAEs) for marketed and investigational products under the applicable regulatory requirements.

    Salary Range

    Gain the in-demand abilities you require to break into a new career in the Drug Safety with Sollers certification. No earlier experience is needed to get started. Tell us your goals, and we’ll match you with the right jobs. 

    Sollers College strives to support those who want to begin their career in the healthcare sector; healthcare professionals also attain mid-level positions with the help of the Certification program.  

  • Global Marketing Trends of Pharmacovigilance

    Global Marketing Trends of Pharmacovigilance

    The pharmacovigilance demand is expected to cross USD 10,881.03 Million by 2025 at a CAGR of 14.1%. The expanding prevalence of chronic conditions is exacted to drive the increase of the global market pharmacovigilance. Growing preference towards drug personalization stimulates the global pharmacovigilance market outlook in between 2019-2025.

    Rising adoption and acceptance of outsourcing services by healthcare companies will spur pharmacovigilance (PV) market growth during the upcoming years. Outsourcing dismisses the risk of market overhead costs as well as the deployment of pharmacovigilance support. Outsourcing strategy increases the cost-effectiveness and efficiency by relieving resource pressure of the manufacturing companies. Pharmacovigilance outsourcing shifting trends owing to growing benefits will accelerate to market expansion in the coming years.

    Global Pharmacovigilance Marketing Trends

     

    Market Drivers

    • Increasing the choice of outsourcing services
    • Growing technological improvements
    • The increasing ubiquity of chronic conditions
    • Increasing expenditure on oncology medicine and research
    • Massive spending by the pharmaceutical industry
    • Improving drug development and drug consumption rates
    • Increase in evidence of adverse drug reactions (ADRs) and medication errors
    • Patent expiration of branded drugs and an increasing number of new drug developments

    The demand for Drug Safety Scientists has increased with the need for professionals with Signal Detection, Risk Management, and Aggregate Report Writing experience. Pharmacovigilance is arguably one of the most challenging markets to recruit within the Life Sciences sector. 

    Therefore, it is not surprising that most agencies will have just one specialist looking at this area when there can be an army of recruiters working in Clinical, QA, Regulatory Affairs, etc.  It is necessary to pursue certification courses. With the help of Sollers, anyone can excel with all the required tools and technologies. Power your career with Drug Safety and Pharmacovigilance certification.

     

     

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