Pharmacovigilance Industry Survey Report 2023: Trends on Transformation

Written: Abid Ali Khan

The findings from the Pharmacovigilance Industry Survey Report for 2023 provide valuable insights into the current landscape of pharmacovigilance practices and the future direction of the industry. Here’s a breakdown of the key findings:

Compliance, Quality, and Operational Efficiency: The primary focus areas for pharmacovigilance teams are compliance with regulations, ensuring product quality, and optimizing operational efficiency. This balanced approach emphasizes the industry’s dedication to regulatory adherence, patient safety, and process improvement.

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Adverse Event (AE) Monitoring and Intake: Nearly 29% of respondents identify “Adverse Event Monitoring and Intake” as a key area for transformation in the next 12 months. This suggests a recognition among pharmacovigilance professionals of the need to enhance monitoring and intake processes for adverse events.

Current Automation Levels: About 25% of surveyed organizations are presently operating with 20% automation in Case Processing.

Anticipated Shift: Respondents foresee a significant increase in Case Processing automation, with expectations rising to 60% or more in the next 12 months. This indicates a clear upward trend toward greater automation in pharmacovigilance processes.

Current Usage: Only 5% of organizations have extensively utilized AI/ML for Adverse Event Monitoring and Intake.

Basic Tools: Approximately 18% of respondents still rely on basic tools, while 47% use automation without AI/ML for Case Processing, Aggregate Reporting, and Signal and Risk Management.

    Technology Adoption Maturity: The findings highlight a need for improvement in technology adoption maturity levels across various pharmacovigilance processes. The low utilization of AI/ML suggests a gap that organizations need to address to enhance efficiency and effectiveness.

    The survey indicates a strong commitment to compliance, quality, and operational efficiency within the pharmacovigilance industry. The identified areas for transformation and the anticipated rise in automation levels suggest a proactive approach to embracing technological advancements. However, the gap in AI/ML adoption emphasizes the need for organizations to explore and integrate these technologies more extensively to further enhance pharmacovigilance processes. The insights provided by this report can guide industry professionals in addressing challenges and shaping the future of drug safety.

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