The Pharmacovigilance Market is on a trajectory of substantial growth, with expectations to reach USD 12.03 billion by 2031. In 2023, the market was valued at USD 7.05 billion, reflecting a strong foundation for expansion. Projections suggest a steady rise, with a simultaneous compound annual growth rate (CAGR) of 6.9% over the forecast period spanning from 2024 to 2031. This growth is driven by the increasing emphasis on drug safety and regulatory compliance, coupled with advancements in pharmacovigilance technologies and methodologies. As pharmaceutical companies strive to ensure the safety and efficacy of their products, the pharmacovigilance market is poised for significant development, contributing to improved patient outcomes and public health.