Pharmacovigilance risk assessment plays a critical role in identifying, evaluating, and managing the safety of medicines throughout their lifecycle. It combines clinical evidence, real world data, adverse event reports, and scientific analysis to detect potential risks and support informed healthcare decisions. Effective risk assessment strategies help regulatory authorities, healthcare professionals, and pharmaceutical organizations maintain patient safety while monitoring the benefits and risks of medicinal products. By following structured pharmacovigilance practices, stakeholders can improve safety surveillance, strengthen compliance with regulatory requirements, and contribute to the continuous evaluation of medicine safety in diverse patient populations across different healthcare settings.