Pharmacovigilance and Drug Safety Software Market to Witness Significant Growth, Reaching USD 311.98 Million by 2030 | Infinium Global Research

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Oct 16, 2023, 05:30 ET

PUNE, India, Oct. 16, 2023 /PRNewswire/ -- Infinium Global Research, a prominent market research firm, has recently released a comprehensive report on the Pharmacovigilance and Drug Safety Software Market. This in-depth report provides a thorough analysis of market segments and sub-segments, both globally and regionally. It also sheds light on the impact of drivers, restraints, and macro indicators on the global and regional pharmacovigilance and drug safety software market in the short and long term.

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Pharmacovigilance, a critical component of drug safety, encompasses various activities such as data collection, detection, assessment, monitoring, and prevention of adverse effects associated with pharmaceutical products. It plays a pivotal role in the life science industry, where strict regulatory compliance is mandatory throughout the drug development, manufacturing, and commercialization process. Efficient and effective pharmacovigilance software solutions are essential to ensure the safety and efficacy of pharmaceutical products over their lifecycle. The scope of the pharmacovigilance and drug safety software market is extensive and continues to expand due to increasing regulatory demands, technological advancements, globalization of drug development, and an ever-growing emphasis on patient safety. Stakeholders in this market include pharmaceutical companies, healthcare providers, Contract Research Organizations (CROs), and other entities that rely on advanced software solutions to monitor, analyze, and ensure the safety of pharmaceutical products from development to market.

Key Findings:

Impressive Market Growth: In 2022, the global pharmacovigilance and drug safety software market was valued at USD 188.14 million. The report predicts it will surge to USD 311.98 million by 2030, with a significant Compound Annual Growth Rate (CAGR) of 5.55% during the forecast period of 2023-2030.
Regulatory Drivers: Stringent regulations from government bodies such as the European Medicines Evaluation Agency (EMEA) and the U.S. Food and Drug Administration (FDA) for drug approval, with a primary focus on drug safety, are propelling market growth. The pressure from these regulatory agencies to develop innovative and safe drugs is driving the pharmacovigilance and drug safety software market worldwide. Moreover, the increasing incidence rate of Adverse Drug Reactions (ADRs) is expected to further boost market growth.
Challenges and Opportunities: While the adoption of pharmacovigilance software is rapidly increasing, a shortage of skilled professionals in the field poses challenges to market growth. Nevertheless, ongoing research and development efforts aimed at creating more effective software solutions and increasing awareness of the benefits of pharmacovigilance and drug safety software are likely to create numerous growth opportunities in the coming years.
Regional Dominance: From a geographical perspective, North America leads the pharmacovigilance and drug safety software market. This is primarily due to the widespread adoption of pharmacovigilance and drug safety software, a well-developed healthcare infrastructure, and a high demand for new and safe drugs in the region. The Asia-Pacific region is experiencing the fastest growth in this market, driven by increased government investments in the pharmaceutical sector, rising demand for pharmacovigilance and drug safety software in hospitals and clinics, and other factors.
Segmented Analysis: The report provides a comprehensive breakdown of the pharmacovigilance and drug safety software market by software type, mode of delivery, and end-user. Sub-markets include drug adverse event reporting software, issue tracking software, fully integrated software, and drug safety audits software, along with modes of delivery such as on-premises and cloud-based. End-users encompass pharma & biotech companies, CROs, pharmacovigilance service providers, and business process outsourcing (BPO) firms.
Key Players: The report includes profiles of prominent companies in the market, such as IQVIA Inc, Oracle Corporation, Honeywell International Inc., AB Cube S.A.S., ArisGlobal, EXTEDO, Ennov, United BioSource LLC, Sarjen, and others.

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Table of Contents

Chapter 1. Preface

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

2.1. Pharmacovigilance and Drug Safety Software Market Highlights

2.2. Pharmacovigilance and Drug Safety Software Market Projection

2.3. Pharmacovigilance and Drug Safety Software Market Regional Highlights

Chapter 3. Global Pharmacovigilance and Drug Safety Software Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.3. Porter`s Five Forces Analysis

3.4. IGR-Growth Matrix Analysis

3.4.1. IGR-Growth Matrix Analysis by Software

3.4.2. IGR-Growth Matrix Analysis by Mode of Delivery

3.4.3. IGR-Growth Matrix Analysis by End User

3.4.4. IGR-Growth Matrix Analysis by Region

3.5. Value Chain Analysis of Pharmacovigilance and Drug Safety Software Market

Chapter 4. Pharmacovigilance and Drug Safety Software Market Macro Indicator Analysis

Chapter 5. Company Profiles and Competitive Landscape

5.1. Competitive Landscape in the Global Pharmacovigilance and Drug Safety Software Market

5.2. Companies Profiles

5.2.1. IQVIA Inc

5.2.2. Oracle Corporation

5.2.3. Honeywell International Inc.

5.2.4. AB Cube S.A.S.

5.2.5. ArisGlobal

5.2.6. EXTEDO

5.2.7. Ennov

5.2.8. United BioSource LLC

5.2.9. Sarjen

5.2.10. Others

Chapter 6. Global Pharmacovigilance and Drug Safety Software Market by Software

6.1. Drug Adverse Event Reporting Software

6.2. Issue Tracking Software

6.3. Fully Integrated Software and Drug Safety Audits Software

Chapter 7. Global Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

7.1. On-premise

7.2. Cloud-based

Chapter 8. Global Pharmacovigilance and Drug Safety Software Market by End User

8.1. Pharma & Biotech Companies

8.2. Contract Research Organizations (CROS)

8.3. Pharmacovigilance Service Providers

8.4. Business Process Outsourcing (BPO) Firms

Chapter 9. Global Pharmacovigilance and Drug Safety Software Market by Region 2023-2030

9.1. North America

9.1.1. North America Pharmacovigilance and Drug Safety Software Market by Software

9.1.2. North America Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.1.3. North America Pharmacovigilance and Drug Safety Software Market by End User

9.1.4. North America Pharmacovigilance and Drug Safety Software Market by Country

9.1.4.1. The U.S. Pharmacovigilance and Drug Safety Software Market

9.1.4.1.1. The U.S. Pharmacovigilance and Drug Safety Software Market by Software

9.1.4.1.2. The U.S. Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.1.4.1.3. The U.S. Pharmacovigilance and Drug Safety Software Market by End User

9.1.4.2. Canada Pharmacovigilance and Drug Safety Software Market

9.1.4.2.1. Canada Pharmacovigilance and Drug Safety Software Market by Software

9.1.4.2.2. Canada Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.1.4.2.3. Canada Pharmacovigilance and Drug Safety Software Market by End User

9.1.4.3. Mexico Pharmacovigilance and Drug Safety Software Market

9.1.4.3.1. Mexico Pharmacovigilance and Drug Safety Software Market by Software

9.1.4.3.2. Mexico Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.1.4.3.3. Mexico Pharmacovigilance and Drug Safety Software Market by End User

9.2. Europe

9.2.1. Europe Pharmacovigilance and Drug Safety Software Market by Software

9.2.2. Europe Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.2.3. Europe Pharmacovigilance and Drug Safety Software Market by End User

9.2.4. Europe Pharmacovigilance and Drug Safety Software Market by Country

9.2.4.1. Germany Pharmacovigilance and Drug Safety Software Market

9.2.4.1.1. Germany Pharmacovigilance and Drug Safety Software Market by Software

9.2.4.1.2. Germany Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.2.4.1.3. Germany Pharmacovigilance and Drug Safety Software Market by End User

9.2.4.2. United Kingdom Pharmacovigilance and Drug Safety Software Market

9.2.4.2.1. United Kingdom Pharmacovigilance and Drug Safety Software Market by Software

9.2.4.2.2. United Kingdom Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.2.4.2.3. United Kingdom Pharmacovigilance and Drug Safety Software Market by End User

9.2.4.3. France Pharmacovigilance and Drug Safety Software Market

9.2.4.3.1. France Pharmacovigilance and Drug Safety Software Market by Software

9.2.4.3.2. France Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.2.4.3.3. France Pharmacovigilance and Drug Safety Software Market by End User

9.2.4.4. Italy Pharmacovigilance and Drug Safety Software Market

9.2.4.4.1. Italy Pharmacovigilance and Drug Safety Software Market by Software

9.2.4.4.2. Italy Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.2.4.4.3. Italy Pharmacovigilance and Drug Safety Software Market by End User

9.2.4.5. Rest of Europe Pharmacovigilance and Drug Safety Software Market

9.2.4.5.1. Rest of Europe Pharmacovigilance and Drug Safety Software Market by Software

9.2.4.5.2. Rest of Europe Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.2.4.5.3. Rest of Europe Pharmacovigilance and Drug Safety Software Market by End User

9.3. Asia Pacific

9.3.1. Asia Pacific Pharmacovigilance and Drug Safety Software Market by Software

9.3.2. Asia Pacific Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.3.3. Asia Pacific Pharmacovigilance and Drug Safety Software Market by End User

9.3.4. Asia Pacific Pharmacovigilance and Drug Safety Software Market by Country

9.3.4.1. China Pharmacovigilance and Drug Safety Software Market

9.3.4.1.1. China Pharmacovigilance and Drug Safety Software Market by Software

9.3.4.1.2. China Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.3.4.1.3. China Pharmacovigilance and Drug Safety Software Market by End User

9.3.4.2. Japan Pharmacovigilance and Drug Safety Software Market

9.3.4.2.1. Japan Pharmacovigilance and Drug Safety Software Market by Software

9.3.4.2.2. Japan Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.3.4.2.3. Japan Pharmacovigilance and Drug Safety Software Market by End User

9.3.4.3. India Pharmacovigilance and Drug Safety Software Market

9.3.4.3.1. India Pharmacovigilance and Drug Safety Software Market by Software

9.3.4.3.2. India Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.3.4.3.3. India Pharmacovigilance and Drug Safety Software Market by End User

9.3.4.4. South Korea Pharmacovigilance and Drug Safety Software Market

9.3.4.4.1. South Korea Pharmacovigilance and Drug Safety Software Market by Software

9.3.4.4.2. South Korea Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.3.4.4.3. South Korea Pharmacovigilance and Drug Safety Software Market by End User

9.3.4.5. Australia Pharmacovigilance and Drug Safety Software Market

9.3.4.5.1. Australia Pharmacovigilance and Drug Safety Software Market by Software

9.3.4.5.2. Australia Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.3.4.5.3. Australia Pharmacovigilance and Drug Safety Software Market by End User

9.3.4.6. Rest of Asia-Pacific Pharmacovigilance and Drug Safety Software Market

9.3.4.6.1. Rest of Asia-Pacific Pharmacovigilance and Drug Safety Software Market by Software

9.3.4.6.2. Rest of Asia-Pacific Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.3.4.6.3. Rest of Asia-Pacific Pharmacovigilance and Drug Safety Software Market by End User

9.4. RoW

9.4.1. RoW Pharmacovigilance and Drug Safety Software Market by Software

9.4.2. RoW Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.4.3. RoW Pharmacovigilance and Drug Safety Software Market by End User

9.4.4. RoW Pharmacovigilance and Drug Safety Software Market by Sub-region

9.4.4.1. Latin America Pharmacovigilance and Drug Safety Software Market

9.4.4.1.1. Latin America Pharmacovigilance and Drug Safety Software Market by Software

9.4.4.1.2. Latin America Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.4.4.1.3. Latin America Pharmacovigilance and Drug Safety Software Market by End User

9.4.4.2. Middle East Pharmacovigilance and Drug Safety Software Market

9.4.4.2.1. Middle East Pharmacovigilance and Drug Safety Software Market by Software

9.4.4.2.2. Middle East Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.4.4.2.3. Middle East Pharmacovigilance and Drug Safety Software Market by End User

9.4.4.3. Africa Pharmacovigilance and Drug Safety Software Market

9.4.4.3.1. Africa Pharmacovigilance and Drug Safety Software Market by Software

9.4.4.3.2. Africa Pharmacovigilance and Drug Safety Software Market by Mode of Delivery

9.4.4.3.3. Africa Pharmacovigilance and Drug Safety Software Market by End User

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Reasons to Buy this Report:

Comprehensive analysis of global as well as regional markets of pharmacovigilance and drug safety software.
Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.
Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

About Infinium Global Research:

Infinium Global Research is a business consulting and market research firm; a group of experts that caters to fulfilling business and market research needs of leading companies in various industry verticals and business segments. The company also serves government bodies, institutes, and non-profit/non-government organizations to meet their knowledge and information needs.

Through our information services and solutions, we assist our clients to improve their performance and assess the market conditions to achieve their organizational goals. Our team of experts and analysts are engaged in continuously monitoring and assessing the market conditions to provide knowledge support to our clients. To help our clients and to stay updated with the advances and inventions in technology, business processes, regulations, and the environment, Infinium often conducts regular meets with industry experts and opinion leaders. Our key opinion leaders are involved in monitoring and assessing the progress in the business environment, so as to offer the best opinion to our clients.

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