The global pharmacovigilance market is expected to reach $11.8 billion by 20301, in part because Adverse Drug Events (ADEs) are rampant and rising worldwide. Yet, today’s technologies are reactive and inefficient in addressing ADEs, leading to avoidable harm and increased cost. To detect ADEs, standard technologies need to observe occurrences in a high enough number of patients. These solutions focus on improving data collection and analyses, reporting to regulatory agencies, and ensuring compliance.
GalenusRx flips this model, using proactive, predictive medication safety technology to streamline the process and improve the quality, safety, and efficiency of clinical trial bio-simulation.
1Pharmacovigilance Market Report 2023