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Global Pharmacovigilance and Drug Safety Software Market Share, Size, Analysis, Forecast: By Functionality: Adverse Event Reporting Software, Drug Safety Audits Software, Issue Tracking Software, Fully Integrated Software, Others; By Mode of Delivery: On-Premises Delivery, Others; By End User; Regional Analysis; Supplier Landscape; 2023-2031
Global Pharmacovigilance and Drug Safety Software Market Outlook
The value of the global pharmacovigilance and drug safety software market was USD 7.80 billion in 2022, driven by the increasing incidence of adverse drug reactions across the globe. The market value is anticipated to grow at a CAGR of 8.98% during the forecast period of 2023-2031 to reach a value of USD 16.90 billion by 2031.
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.
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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.
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The industry can be broadly categorised based on its end-use into:
- Pharma and Biotech Companies
- Contract Research Organizations (CROs)
- Business Process Outsourcing (BPO) Firms
- Others
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.
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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 | 2022 |
| Historical Period | 2016-2022 |
| Forecast Period | 2023-2031 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Functionality |
|
| Breakup by Mode of Delivery |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Supplier Landscape |
|
| Companies Covered |
|
*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 (2016-2022)
3.2 Global Pharmacovigilance and Drug Safety Software Market Forecast Value (2023-2031)
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 5.8% in the forecast period of 2023-2031.
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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