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Pharmacovigilance and Drug Safety Software Market

Global Pharmacovigilance and Drug Safety Software Market: By Functionality: Adverse Event Reporting Software, Drug Safety Audits Software, Issue Tracking Software, Fully Integrated Software; By Mode of Delivery: On-Premises Delivery, On-Demand/Cloud Based (SaaS) Delivery; By End User; Regional Analysis; Supplier Landscape; 2024-2032

Global Pharmacovigilance and Drug Safety Software Market Outlook

The value of the global pharmacovigilance and drug safety software market was USD 8.50 billion in 2023, driven by the increasing incidence of adverse drug reactions across the globe. The market value is anticipated to grow at a CAGR of 9% during the forecast period of 2024-2032 to reach a value of USD 18.43 billion by 2032.

 

After licensing, pharmacovigilance is the profession of tracking the impacts of medical drugs. This is performed in particular to recognize and examine the prior unfavourable responses of unannounced pharmaceutical drugs.

 

Global Pharmacovigilance and Drug Safety Software Market

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The global market for pharmacovigilance and drug safety software is expected to accelerate due to the increasing incidences of ADR or adverse drug reaction and the rise of several outsourcing businesses adopting interconnected software services. With an increased demand for different drugs and medicines worldwide and the ongoing attempts to produce secure medicines and the growing pressure on numerous biotech and pharmaceutical companies, the market is anticipated to experience significant development in the years to come.

 

Market Segmentation

The pharmacovigilance and drug safety software market can be divided on the basis of segments like functionality, mode of delivery, and end-use.

The industry can be categorised on the basis of its functionality as drug safety audits software, adverse event reporting software, issue tracking software, and fully integrated software. The industry can be divided based on its mode of delivery as on-premise delivery and on-demand/ cloud-based (SaaS) delivery.

 

Global Pharmacovigilance and Drug Safety Software Market

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The industry can be broadly categorised based on its end-use into:

The EMR report looks into the regional markets of pharmacovigilance and drug safety software like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific regions.

 

Market Analysis

The adoption of pharmacovigilance software in the market has become simpler for players with readily available information and the decreased use of obsolete information. The critical use of pharmacovigilance and drug safety is projected to boost the global market for multiple clinical research. As a consequence of particular drug consumption, the increase in patient safety problems, and the surge in adverse side effects may increase the global drug safety software and pharmacovigilance market. This market growth could also be mainly be correlated with the accessibility of clinical trial programs and reductions in medical spending.

 

Global Pharmacovigilance and Drug Safety Software Market

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Competitive Landscape

The report presents a detailed analysis of the following key players in the global pharmacovigilance and drug safety software industry, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • ArisGlobal    
  • Ennov Solutions Inc.   
  • EXTEDO GmbH    
  • Oracle Corporation (NYSE: ORCL)    
  • Sparta Systems, Inc.    
  • United BioSource Corporation      
  • AB Cube      

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Functionality
  • Mode of Delivery
  • End User
  • Region
Breakup by Functionality
  • Adverse Event Reporting Software
  • Drug Safety Audits Software
  • Issue Tracking Software
  • Fully Integrated Software
Breakup by Mode of Delivery
  • On-Premises Delivery
  • On-Demand/Cloud Based (SaaS) Delivery
Breakup by End User
  • Pharma and Biotech Companies
  • Contract Research Organizations (CROs)
  • Business Process Outsourcing (BPO) Firms
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Supplier Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • IQVIA
  • Accenture
  • Cognizant
  • Laboratory Corporation of America Holdings
  • IBM
  • ARIS Global
  • ICON Plc.
  • Capgemini
  • Oracle
  • Parexel International Corporation
  • Ab Cube
  • Extedo GmbH
  • Ennov Solutions Inc.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
    1.1    Objectives of the Study
    1.2    Key Assumptions
    1.3    Report Coverage – Key Segmentation and Scope
    1.4    Research Methodology
2    Executive Summary
3    Global Pharmacovigilance and Drug Safety Software Market Overview

    3.1    Global Pharmacovigilance and Drug Safety Software Market Historical Value (2017-2023) 
    3.2    Global Pharmacovigilance and Drug Safety Software Market Forecast Value (2024-2032)
4    Global Pharmacovigilance and Drug Safety Software Market Landscape
    4.1    Global Pharmacovigilance and Drug Safety Software Developers Landscape
        4.1.1    Analysis by Year of Establishment
        4.1.2    Analysis by Company Size
        4.1.3    Analysis by Region
    4.2    Global Pharmacovigilance and Drug Safety Software Product Landscape
        4.2.1    Analysis by Functionality
        4.2.2    Analysis by Mode of Mode of Delivery
        4.2.3    Analysis by End User
5    Global Pharmacovigilance and Drug Safety Software Market Dynamics
    5.1    Market Drivers and Constraints
    5.2    SWOT Analysis
    5.3    Porter’s Five Forces Model 
    5.4    Key Demand Indicators
    5.5    Key Price Indicators
    5.6    Industry Events, Initiatives, and Trends 
    5.7    Value Chain Analysis
6    Global Pharmacovigilance and Drug Safety Software Market Segmentation
    6.1    Global Pharmacovigilance and Drug Safety Software Market by Functionality
        6.1.1    Market Overview                                   
        6.1.2    Adverse Event Reporting Software
        6.1.3    Drug Safety Audits Software
        6.1.4    Issue Tracking Software
        6.1.5    Fully Integrated Software
    6.2    Global Pharmacovigilance and Drug Safety Software Market by Mode of Delivery
        6.2.1    Market Overview
        6.2.2    On-Premises Delivery
        6.2.3    On-Demand/Cloud Based (SaaS) Delivery
    6.3    Global Pharmacovigilance and Drug Safety Software Market by End User
        6.3.1    Market Overview
        6.3.2    Pharma and Biotech Companies
        6.3.3    Contract Research Organizations (CROs)
        6.3.4    Business Process Outsourcing (BPO) Firms
        6.3.5    Others
    6.4    Global Pharmacovigilance and Drug Safety Software Market by Region
        6.4.1    Market Overview
        6.4.2    North America 
        6.4.3    Europe
        6.4.4    Asia Pacific
        6.4.5    Latin America
        6.4.6    Middle East and Africa
7    North America Pharmacovigilance and Drug Safety Software Market
    7.1    Market Share by Country
    7.2    United States of America
    7.3    Canada
8    Europe Pharmacovigilance and Drug Safety Software Market
    8.1    Market Share by Country
    8.2    United Kingdom
    8.3    Germany
    8.4    France
    8.5    Italy
    8.6    Others
9    Asia Pacific Pharmacovigilance and Drug Safety Software Market
    9.1    Market Share by Country
    9.2    China
    9.3    Japan
    9.4    India
    9.5    ASEAN
    9.6    Australia
    9.7    Others
10    Latin America Pharmacovigilance and Drug Safety Software Market
    10.1    Market Share by Country
    10.2    Brazil
    10.3    Argentina
    10.4    Mexico
    10.5    Others
11    Middle East and Africa Pharmacovigilance and Drug Safety Software Market
    11.1    Market Share by Country
    11.2    Saudi Arabia
    11.3    United Arab Emirates
    11.4    Nigeria
    11.5    South Africa
    11.6    Others
12    Patent Analysis
    12.1    Analysis by Type of Patent
    12.2    Analysis by Publication year
    12.3    Analysis by Issuing Authority
    12.4    Analysis by Patent Age
    12.5    Analysis by CPC Analysis
    12.6    Analysis by Patent Valuation
    12.7    Analysis by Key Players
13    Grants Analysis
    13.1    Analysis by year
    13.2    Analysis by Amount Awarded
    13.3    Analysis by Issuing Authority
    13.4    Analysis by Grant Application
    13.5    Analysis by Funding Institute
    13.6    Analysis by NIH Departments
    13.7    Analysis by Recipient Organization
14    Funding Analysis
    14.1    Analysis by Funding Instances
    14.2    Analysis by Type of Funding
    14.3    Analysis by Funding Amount
    14.4    Analysis by Leading Players
    14.5    Analysis by Leading Investors
    14.6    Analysis by Geography
15    Partnership and Collaborations Analysis
    15.1    Analysis by Partnership Instances
    15.2    Analysis by Type of Partnership
    15.3    Analysis by Leading Players
    15.4    Analysis by Geography
16    Regulatory Framework
    16.1    Regulatory Overview
        16.1.1    US FDA
        16.1.2    EU EMA
        16.1.3    INDIA CDSCO
        16.1.4    JAPAN PMDA
        16.1.5    Others
17    Supplier Landscape
    17.1    IQVIA
        17.1.1    Financial Analysis
        17.1.2    Product Portfolio
        17.1.3    Demographic Reach and Achievements
        17.1.4    Mergers and Acquisitions
        17.1.5    Certifications
    17.2    Accenture
        17.2.1    Financial Analysis
        17.2.2    Product Portfolio
        17.2.3    Demographic Reach and Achievements
        17.2.4    Mergers and Acquisitions
        17.2.5    Certifications
    17.3    Cognizant
        17.3.1    Financial Analysis
        17.3.2    Product Portfolio
        17.3.3    Demographic Reach and Achievements
        17.3.4    Mergers and Acquisitions
        17.3.5    Certifications
    17.4    Laboratory Corporation of America Holdings
        17.4.1    Financial Analysis
        17.4.2    Product Portfolio
        17.4.3    Demographic Reach and Achievements
        17.4.4    Mergers and Acquisitions
        17.4.5    Certifications
    17.5    IBM
        17.5.1    Financial Analysis
        17.5.2    Product Portfolio
        17.5.3    Demographic Reach and Achievements
        17.5.4    Mergers and Acquisitions
        17.5.5    Certifications
    17.6    ARIS Global
        17.6.1    Financial Analysis
        17.6.2    Product Portfolio
        17.6.3    Demographic Reach and Achievements
        17.6.4    Mergers and Acquisitions
        17.6.5    Certifications
    17.7    ICON Plc.
        17.7.1    Financial Analysis
        17.7.2    Product Portfolio
        17.7.3    Demographic Reach and Achievements
        17.7.4    Mergers and Acquisitions
        17.7.5    Certifications
    17.8    Capgemini
        17.8.1    Financial Analysis
        17.8.2    Product Portfolio
        17.8.3    Demographic Reach and Achievements
        17.8.4    Mergers and Acquisitions
        17.8.5    Certifications
    17.9    Oracle
        17.9.1    Financial Analysis
        17.9.2    Product Portfolio
        17.9.3    Demographic Reach and Achievements
        17.9.4    Mergers and Acquisitions
        17.9.5    Certifications
    17.10    Parexel International Corporation
        17.10.1    Financial Analysis
        17.10.2    Product Portfolio
        17.10.3    Demographic Reach and Achievements
        17.10.4    Mergers and Acquisitions
        17.10.5    Certifications
    17.11    Ab Cube
        17.11.1    Financial Analysis
        17.11.2    Product Portfolio
        17.11.3    Demographic Reach and Achievements
        17.11.4    Mergers and Acquisitions
        17.11.5    Certifications
    17.12    Extedo GmbH
        17.12.1    Financial Analysis
        17.12.2    Product Portfolio
        17.12.3    Demographic Reach and Achievements
        17.12.4    Mergers and Acquisitions
        17.12.5    Certifications
    17.13    Ennov Solutions Inc.
        17.13.1    Financial Analysis
        17.13.2    Product Portfolio
        17.13.3    Demographic Reach and Achievements
        17.13.4    Mergers and Acquisitions
        17.13.5    Certifications
18    Global Pharmacovigilance and Drug Safety Software Market - Distribution Model (Additional Insight)
    18.1    Overview
    18.2    Potential Distributors
    18.3    Key Parameters for Distribution Partner Assessment
19    Key Opinion Leaders (KOL) Insights (Additional Insight)
20    Company Competitiveness Analysis (Additional Insight)

    20.1    Very Small Companies
    20.2    Small Companies
    20.3    Mid-Sized Companies
    20.4    Large Companies
    20.5    Very Large Companies
21    Payment Methods (Additional Insight)
    21.1    Government Funded
    21.2    Private Insurance
    21.3    Out-of-Pocket

 

*Additional insights provided are customisable as per client requirements.

Key Questions Answered in the Report

The global pharmacovigilance and drug safety software market is estimated to witness a healthy growth, expanding at a CAGR of 9% in the forecast period of 2024-2032.

The major drivers of the market include the increasing incidences of ADR (adverse drug reaction) and the growing adoption of interconnected software services by several outsourcing businesses.

The increasing demand for different drugs and medicines worldwide and ongoing attempts to improve access to safe and effective drugs are expected to be the key trends guiding the growth of the industry.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Drug safety audits software, adverse event reporting software, issue tracking software, and fully integrated software are the major functionalities of the product.

On-premise delivery and on-demand/ cloud-based (SaaS) delivery are the different delivery modes of the product in the market.

Pharma and biotech companies, contract research organisations (CROs), and business process outsourcing (BPO) firms, among others are the significant end uses of the product in the market.

The major players in the industry are ArisGlobal, Ennov Solutions Inc., EXTEDO GmbH, Oracle Corporation, Sparta Systems, Inc., United BioSource Corporation, AB Cube, Others.

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