Global Pharmacovigilance and Drug Safety Software Market
Global Pharmacovigilance and Drug Safety Software Market was valued at USD 160.32 million and it is anticipated to reach USD 265.21 million by 2030 at a CAGR 6.32% from 2020- 2030.
Pharmacovigilance is also called as drug safety and it is defined as the science which mainly deals with the detection, monitoring, assessment & prevention of harmful effects of pharmaceutical drugs. Pharmacovigilance & drug safety software primarily helps in creating, classifying, and reviewing pharmacovigilance data and results in creating more knowledge & awareness among healthcare professionals.
Market Drivers
The increase in incidence of adverse drug reactions (ADR) is anticipated to boost the demand for pharmacovigilance and drug safety software market over the forecast period. The rise in globalization in PV with widespread availability of the internet will positively influence the market growth in the coming years. Furthermore, the growing heath information functionality market will strengthen the usage of pharmacovigilance & drug safety software during the forecast period.
Moreover, the increase in pressure to follow safety guidelines set by government authorities like European Medicines Agency and U.S. Food and Drug Administration is contributing toward growing adoption of pharmacovigilance systems. Many pharmaceutical organizations are moving toward outsourcing pharmacovigilance activities to curb operational costs which expected to accelerate the growth of global pharmacovigilance and drug safety software market.
Market Restraints
The high cost associated with the software is a major restraining factor which expected to hamper the growth of global pharmacovigilance and drug safety software market over the forecast period. Also, lack of pharmacovigilance professionals may hinder the global pharmacovigilance and drug safety software market growth during this forecast period.
Market Segmentation
The Global Pharmacovigilance and Drug Safety Software Market is segmented into Functionality such as ADR Reporting, Fully Integrated Software, Issue Tracking, Drug Safety Audits, by delivery mode such as On-premise, and On-demand. Further, market is segmented into end use such as Pharma & biotech companies, BPOs, CROs, and Others.
Regional Analysis
The Global Pharmacovigilance and Drug Safety Software Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North America region led the market in 2019 and it is expected to continue this trend over the foreseeable future. Due to the government-aided initiatives favoring the adoption of pharmacovigilance and drug safety software systems, the regional market is expected to show significant growth through 2027.
Market Key Players
Various key players are listed in this report such as Ab Cube, Ennov Solutions Inc., ArisGlobal, Online Business Applications Inc., Extedo GmbH, Sarjen Systems Pvt Ltd, Oracle Corporation, United BioSource Corporation, Sparta Systems Inc., Veeva Systems, etc.
Market Taxonomy
By Functionality
By Delivery Mode
By End Use
By Region
Key Questions Addressed by the Report
Global Pharmacovigilance and Drug Safety Software Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Pharmacovigilance and Drug Safety Software Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Pharmacovigilance and Drug Safety Software Market, By Functionality
5.1 Y-o-Y Growth Comparison, By Functionality
5.2 Global Pharmacovigilance and Drug Safety Software Market Share Analysis, By Functionality
5.3 Global Pharmacovigilance and Drug Safety Software Market Size and Forecast, By Functionality
5.3.1 ADR Reporting
5.3.2. Fully Integrated Software
5.3.3. Issue Tracking
5.3.4. Drug Safety Audits
6 Global Pharmacovigilance and Drug Safety Software Market, By Delivery Mode
6.1 Y-o-Y Growth Comparison, By Delivery Mode
6.2 Global Pharmacovigilance and Drug Safety Software Market Share Analysis, By Delivery Mode
6.3 Global Pharmacovigilance and Drug Safety Software Market Size and Forecast, By Delivery Mode
6.3.1 On-premise
6.3.2 On-demand
7 Global Pharmacovigilance and Drug Safety Software Market, By End Use
7.1 Y-o-Y Growth Comparison, By End Use
7.2 Global Pharmacovigilance and Drug Safety Software Market Share Analysis, By End Use
7.3 Global Pharmacovigilance and Drug Safety Software Market Size and Forecast, By End Use
7.3. 1 Pharma & biotech companies
7.3.2. BPOs
7.3.3. CROs
7.3.4. Others
8Global Pharmacovigilance and Drug Safety Software Market, By Region
8.1 Global Pharmacovigilance and Drug Safety Software Market Share Analysis, By Region
8.2 Global Pharmacovigilance and Drug Safety Software Market Share Analysis, By Region
8.3 Global Pharmacovigilance and Drug Safety Software Market Size and Forecast, By Region
9 North America Pharmacovigilance and Drug Safety Software Market Analysis and Forecast (2020-2030)
9.1 Introduction
9.2 North America Pharmacovigilance and Drug Safety Software Market Share Analysis, By Functionality
9.3 North America Pharmacovigilance and Drug Safety Software Market Size and Forecast, By Delivery Mode
9.4 North America Pharmacovigilance and Drug Safety Software Market Size and Forecast, By End Use
9.5 North America Pharmacovigilance and Drug Safety Software Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10EuropePharmacovigilance and Drug Safety Software Market Analysis and Forecast (2020-2030)
10.1 Introduction
10.2 Europe Pharmacovigilance and Drug Safety Software Market Share Analysis, By Functionality
10.3 Europe Pharmacovigilance and Drug Safety Software Market Size and Forecast, By Delivery Mode
10.4 Europe Pharmacovigilance and Drug Safety Software Market Size and Forecast, By End Use
10.5 Europe Pharmacovigilance and Drug Safety Software Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.54. Rest of Europe
11Asia Pacific Pharmacovigilance and Drug Safety Software Market Analysis and Forecast (2020-2030)
11.1 Introduction
11.2 Asia Pacific Pharmacovigilance and Drug Safety Software Market Share Analysis, By Functionality
11.3 Asia Pacific Pharmacovigilance and Drug Safety Software Market Size and Forecast, By Delivery Mode
11.4 Asia Pacific Pharmacovigilance and Drug Safety Software Market Size and Forecast, By End Use
11.5 Asia Pacific Pharmacovigilance and Drug Safety Software Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12Latin America Pharmacovigilance and Drug Safety Software Market Analysis and Forecast (2020-2030)
12.1 Introduction
12.2 Latin America Pharmacovigilance and Drug Safety Software Market Share Analysis, By Functionality
12.3 Latin America Pharmacovigilance and Drug Safety Software Market Size and Forecast, By Delivery Mode
12.4 Latin America Pharmacovigilance and Drug Safety Software Market Size and Forecast, By End Use
12.5 Latin America Pharmacovigilance and Drug Safety Software Market Size and Forecast, Country
13Middle East Pharmacovigilance and Drug Safety Software Market Analysis and Forecast (2020-2030)
13.1 Introduction
13.2 Middle East Pharmacovigilance and Drug Safety Software Market Share Analysis, By Functionality
13.3 Middle East Pharmacovigilance and Drug Safety Software Market Size and Forecast, By Delivery Mode
13.4 Middle East Pharmacovigilance and Drug Safety Software Market Size and Forecast, By End Use
13.5 Middle East Pharmacovigilance and Drug Safety Software Market Size and Forecast, By Country
14Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15Company Profiles
15.1 Ab Cube
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2. Ennov Solutions Inc
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3. ArisGlobal
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Online Business Applications Inc
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Extedo GmbH
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Sarjen Systems Pvt Ltd
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Oracle Corporation
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 United BioSource Corporation
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Sparta Systems Inc
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 Veeva Systems
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
