Pharmacovigilance and Drug Safety Software Market

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Pharmacovigilance and Drug Safety Software Market (Software - Adverse Event Reporting Software, Issue Tracking Software, Fully Integrated Software and Drug Safety Audits Software; Mode of Delivery - On-premise, Cloud-based; End-user - Pharma & Biotech Companies, Contract Research Organizations (CROS), Pharmacovigilance Service Providers and Business Process Outsourcing (BPO) Firms): Global Industry Analysis, Trends, Size, Share and Forecasts To 2024

  • Published : October, 2018

  • Rep Id : HC0418

  • Category : Healthcare & Medical Devices

  • Status : Published

This report provides exclusive insights into the COVID-19 impact on the Pharmacovigilance and Drug Safety Software Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Pharmacovigilance and Drug Safety Software Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Pharmacovigilance and Drug Safety Software Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.

A recent report published by Infinium Global Research on pharmacovigilance and drug safety software market provides an in-depth analysis of segments and sub-segments in global as well as regional pharmacovigilance and drug safety software market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional pharmacovigilance and drug safety software market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global pharmacovigilance and drug safety software market. According to the report the global pharmacovigilance and drug safety software market is projected to grow at a CAGR of 5.3% over the forecast period of 2018-2024.

 

Market Insight

Pharmacovigilance is a term referred to the drug safety that deals with the collection, detection, assessment, monitoring, and prevention of adverse effects with pharmaceutical products. Pharmacovigilance is a concern with the safety and efficiency of pharmaceutical products. Pharmacovigilance is perhaps the most vital function within a life science company as they must have to adhere to strict regulations to develop, manufacture and commercialize a drug. To understand the risks and benefits of pharmaceutical products through all phases of their lifecycle the efficient and effective pharmacovigilance software solutions are required to ensure drug safety. 

 

The various government associations such as European Medicines Evaluation Agency (EMEA) and the U.S. food and drug administration (FDA) have very strict rules and regulation regarding the drug's approval. The drug’s safety is the major concern for these organizations. The growing pressure from the government agencies to the developed novel and the safe drug is driving the growth of pharmacovigilance and drug safety software market across the world. In addition, the growing occurrence of rates of adverse drug reactions (ADRs) is anticipated to boost the growth of pharmacovigilance and drug safety software market.

 

The adoption of pharmacovigilance software is rising to very rapidly across numerous outsourcing firms to ensure the safe and effective manufacturing is likely to contribute to the growth of pharmacovigilance and drug safety software market. However, the lack of a skilled workforce in the pharmacovigilance is hampering the growth of pharmacovigilance and drug safety software market. Moreover, ongoing research and development activity to develop effective software and growing awareness about the benefits of pharmacovigilance and drug safety soft wares are projected to create various growth opportunities in the upcoming year.

 

Geographically, North America dominates the pharmacovigilance and drug safety software market. The growing adoption of pharmacovigilance and drug safety software developed healthcare infrastructure and demand for new and safe drugs are the key factors driving the growth of pharmacovigilance and drug safety software market in North America. In addition, Asia-Pacific is the fastest growing region in the pharmacovigilance and drug safety software market owing to the growing government investment in the pharmaceutical sector, rising demand of pharmacovigilance and drug safety software from the various hospitals and clinics and many others.

 

Segment Covered

The report on global pharmacovigilance and drug safety software market covers segments such as software, mode of delivery and end-user. On the basis of software, the global pharmacovigilance and drug safety software market is categorized into adverse event reporting software, issue tracking software, fully integrated software and drug safety audits software. On the basis of mode of delivery the global pharmacovigilance and drug safety software market is categorized into on-premise and cloud-based. On the basis of end-user, the global pharmacovigilance and drug safety software market is categorized into pharma & biotech companies, contract research organizations (CROS), pharmacovigilance service providers and business process outsourcing (BPO) firms.

 

Geographic Coverage

The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. 


Global Pharmacovigilance and Drug Safety Software Market


The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.

 

Companies Profiled:

The report provides profiles of the companies in the global pharmacovigilance and drug safety software market such as UMBRA Global LLC, United BioSource Corporation, Oracle Corporation, Sparta Systems, AB Cube, ArisGlobal, Extedo GMBH, Ennov, Online Business Applications, and Sarjen Systems Pvt.


Report Highlights:

The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global pharmacovigilance and drug safety software market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of pharmacovigilance and drug safety software market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the pharmacovigilance and drug safety software market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the pharmacovigilance and drug safety software market to understand the present and future trends in this market and formulate their strategies accordingly.


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