Why is Pharmacovigilance required in pharmaceutical markets for all countries? Majorly it is due to adverse drug reactions (ADR) that lead to severe illness, permanent side effects, and even death.

1. 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.

2. Social media; Clinical data and electronic health records;Claims files;
Regulatory reports and filings from different areas;
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Secondary data references present unprecedented difficulties in terms of
procurement and combination with “classic” data sets. Usage of secondary
data by pharmaceuticals is, as of today, just at the initial stage, also
considering that it is not required from the regulatory point of view.
Recently, technology providers have started giving robust and flexible
platforms that support Life Sciences organizations handling and combining
multiple file types and including social media streams in their
pharmacovigilance methods. Advanced algorithms and disproportionality
review are now being developed to accommodate classical automatic
reporting and social media streams.
The secondary data references and advanced signal detection technologies
help detect safety risks and take more rapid risk minimization.
Cloud-based Reporting produces a robust global database of adverse events.
Many businesses are now profiting from collecting and analyzing vast
amounts of data in the cloud. As the amount of data sources grows, Life
Sciences companies confront the critical need to optimize the intake, storage,
and study of substantial volumes of data.
The primary reason for transforming to the Cloud is
Cost and efficiency: Cloud enables organizations to operate with massive data
from incidents without yielding security, quality, and data privacy.
Scalability: The adverse event case workload for Life Science companies has
been growing regularly, with some businesses seeing a 50% rise yearly.
Simplicity: Cloud usage can simplify the life of companies by empowering them
to evade concerns about module adaptability and mounting up servers. Cloud
pharmacovigilance is a growing reality.
Sollers college provides a Drug Safety & Pharmacovigilance
certificate/master’s program for the students/drug safety professionals who
want to settle in the healthcare sector.
Reference by: https://sollers.edu/future-prospects-of-pharmacovigilance/