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Pharmacovigilance and Drug Safety Software Market to Garner $ 292.97 Million Globally, by 2027 at 7.6% CAGR

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Pharmacovigilance and Drug Safety Software Market to Garner $ 292.97 Million Globally, by 2027 at 7.6% CAGR

November 26
21:55 2021
Pharmacovigilance and Drug Safety Software Market to Garner $ 292.97 Million Globally, by 2027 at 7.6% CAGR
Pharmacovigilance and Drug Safety Software Market
Pharmacovigilance and Drug Safety Software Market to Grow at a CAGR of 7.6% to reach US$ 292.97 Million from 2020 to 2027

According to The Insight Partners new research study on “Pharmacovigilance and Drug Safety Software Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by software type, delivery mode and end user,” the market is expected to reach US$ 292.97 Mn in 2027 from US$ 160.67 Mn in 2019. The market is estimated to grow at a CAGR of 7.6% from 2020 to 2027.

Strategic Insights

Report Coverage              Details

Market Size Value in – US$ 160.67 Million in 2019

Market Size Value by – US$ 292.97 Million by 2027

Growth rate – CAGR of 7.6% from 2020-2027

Forecast Period – 2020-2027

Base Year – 2020

No. of Pages – 186

No. Tables – 72

No. of Charts & Figures – 63

Historical data available – Yes

Segments covered – Software Type ; Delivery Mode ; and End User , and Geography

Regional scope – North America; Europe; Asia Pacific; Latin America; MEA

Country scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage – Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Get Sample PDF Copy of Pharmacovigilance and Drug Safety Software Market at: https://www.theinsightpartners.com/sample/TIPHC00002557/

The scope of the pharmacovigilance and drug safety software market includes software type, product type, end user, and region. The market for pharmacovigilance and drug safety software, based on region, is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. 

Globalization Of Pharmacovigilance

Pharmacovigilance is the processes for monitoring and evaluating adverse drug reactions and it is a key component of effective drug regulation systems, clinical practice and public health programs. The number of Adverse Drug Reactions (ADRs) reported resulted in an increase in the volume of data handled. In the current global network of pharmacovigilance centers coordinated by the Uppsala Monitoring Centre. Pharmacovigilance is an critical and integral part of clinical research and these days it is growing in many countries. Today many pharmacovigilance centers are working for drug safety monitoring in this global pitch, however, at the turn of the millennium pharmacovigilance faces major challenges in aspect of better safety and monitoring of drugs.

The centralized reporting and storage of adverse drug reaction reports will help to monitor and prevent future adverse drug reaction from the drug. European Medicines Agency (EMA) and US Food and Drug Administration (FDA) strengthening in pharmacovigilance area by interacting on different topics related to post-marketing safety, scientific exchange. Discussions on priority such as biosimilars, medicines to treat cancer, orphan medicines, medicines for children, and blood-based products, among other topics.

Thus, increasing the globalization in pharmacovigilance sector helps in drug safety software. It improves the quality and efficacy of pharmacovigilance and drug safety software and is expected to favor the growth of the market during the forecast period.

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.

Get the Latest COVID-19 Analysis on Pharmacovigilance and Drug Safety Software Market at: https://www.theinsightpartners.com/covid-analysis-sample/TIPHC00002557

Based on software type the market is segmented into adverse event reporting software, drug safety audits software, issue tracking software, and fully integrated software. In 2019, the adverse event reporting software segment held the largest share of the market, by software. However, the fully integrated software segment is anticipated to grow at the highest rate during the forecast period owing to its accuracy to avoid data redundancy by eliminating errors and tracking individual case safety reports.

Based on delivery mode the market is segmented into on premise and cloud based. In 2019, the on-premise segment held the largest share of the market, by delivery mode. However, Cloud based segment is expected to grow at the fastest rate during the coming years owing to the benefits associated such as remote access to data, real-time data tracking.

Pharmacovigilance and Drug Safety Software Market: Competitive Landscape and Key Developments

AB Cube, United BioSource LLC, ARISGLOBAL LLC, Sparta Systems, Inc., Oracle Corporation, Sarjen Systems Pvt. Ltd., EXTEDO, ENNOV, Max Application and Anju Software, Inc. are among the leading companies operating in the pharmacovigilance and drug safety software market.

The companies are adopting inorganic and organic growth strategies to expand their global footprints and product portfolio to meet the rising demands for the pharmacovigilance and drug safety software. For instance, in Aug 2019, Veeva Systems unveiled Veeva Vault Safety.AI, a new artificial intelligence technology that automates case intake in order to reduce the time and effort spent on manual data entry. To complement Vault Safety and Vault SafetyDocs, Veeva provides the first integrated suite of cloud applications on a shared platform to control the end-to-end drug safety lifecycle.

Order a Copy of Pharmacovigilance and Drug Safety Software Market Shares, Strategies and Forecasts 2021-2028 Research Report at: https://www.theinsightpartners.com/buy/TIPHC00002557/

Browse Related Reports and get Sample copy

Drug Safety Solutions And Pharmacovigilance Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Softwares, Services); End Users (Pharma and Biotech Companies, Contract Research Organizations (CROs), Business Process Outsourcing (BPO) Firms, Other Pharmacovigilance Service Providers)

Pharmacovigilance Market Forecast to 2028 – Covid-19 Impact and Global Analysis – by Clinical Trial Phase (Pre-Clinical, Phase I, Phase II, Phase III, and Phase IV), Service Provider (In-House and Contract Outsourcing), Type of Method (Spontaneous Reporting, Intensified ADR Reporting, Targeted Spontaneous Reporting, Cohort Event Monitoring, and EHR Mining), End User (Hospitals, Research Organizations, and Pharmaceutical and Biotechnology Companies) and Geography

About Us:

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals and Materials.

Research Study – https://liverpoolstudentmedia.com/author/theinsightpartners/

Media Contact
Company Name: The Insight Partners
Contact Person: Sameer Joshi
Email: Send Email
Phone: +1-646-491-9876
City: Pune
State: Maharashtra
Country: India
Website: https://www.theinsightpartners.com/pr/pharmacovigilance-pv-and-drug-safety-software-market

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