Future prospects of Pharmacovigilance Why is Pharmacovigilance required in pharmaceutical markets for all countries? Majorly it is due to adverse drug reactions (ADR) that leads to severe illness, permanent side effects, and even death.
With rising burden of chronic and non chronic diseases and increase in geriatic population growing pharmaceutical market, no surprise that there is a rapid growth for pharmacovigilance services in worldwide market. Pharmacovigilance performs a much more pivotal role with the more stringent regulations and the increasing quality of patient centricity than 10 or 20 years ago.
Current industry trends in pharmacovigilance: These days, the evolution of mobile applications, digital health devices, social media set a new standard for patient involvement. Recent statistics illustrate that there is a huge value for social media monitoring and provide valuable information related to drugs. Along with that proactive monitoring helps to give early warnings of new adverse events that helps in drug development and avoid preventable litigation.
Will the exponential growth of digital health tools become primary for producing high-quality concerns? It stands to reason that proactively observing patient health through digital health materials could provide insight into decreasing the figure and severity of adverse events.