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Market Research Report
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1058444

Pharmacovigilance and Drug Safety Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Published: | IMARC Services Private Limited | 143 Pages | Delivery time: 2-3 business days

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Pharmacovigilance and Drug Safety Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
Published: February 12, 2022
IMARC Services Private Limited
Content info: 143 Pages
Delivery time: 2-3 business days
  • Description
  • Table of Contents
  • List of Tables

The global pharmacovigilance and drug safety software market reached a value of US$ 176.6 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 265 Million by 2027 exhibiting a CAGR of 6.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Pharmacovigilance and drug safety software is used to detect, assess, understand, and prevent adverse effects related to medicines, medical devices, and pharmaceutical products. It is utilized by health firms worldwide to ensure global regulatory compliance, make faster science-based safety decisions, integrate safety and risk management, and lower the cost of pharmacovigilance. Nowadays, service providers are offering flexible, innovative, and scalable variants to meet the unique business and product safety requirements of health firms.

Pharmacovigilance and Drug Safety Software Market Trends:

  • Pharmacovigilance and drug safety monitoring are mandatory requirements for medicinal product developers, license holders, and clinical investigators. However, they can be time-intensive and costly processes, which represents one of the key factors catalyzing the adoption of pharmacovigilance and drug safety software to maintain safety data, minimize costs, and deliver best-practice monitoring and reporting workflows. In addition to this, health agencies of numerous countries are implementing stringent laws regarding public health, which is encouraging pharmaceutical and biotechnology companies to adopt efficient software for pharmacovigilance and drug safety. Moreover, the escalating demand for safe drugs and medicines around the world on account of the increasing incidences of adverse drug reaction (ADR) is contributing to the market growth. Apart from this, due to the rapid digitization of clinical trials, there is a rise in the adoption of pharmacovigilance and drug safety software to ensure the implementation of novel methods without disrupting traditional signal detection, validation, and management workflow. Furthermore, prominent vendors are implementing automation, adopting advanced technologies, and leveraging insights from analytics that improve compliance and product safety in pharmacovigilance and drug safety software. This is anticipated to provide a positive outlook for the market.

Key Market Segmentation:

  • IMARC Group provides an analysis of the key trends in each sub-segment of the global pharmacovigilance and drug safety software market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on functionality, delivery mode and end user.

Breakup by Functionality:

  • Adverse Event Reporting Softwar
  • Drug Safety Audits Software
  • Issue Tracking Software
  • Fully Integrated Software

Breakup by Delivery Mode:

  • On-premises
  • Cloud-based

Breakup by End User:

  • Pharmaceutical and Biotechnology Companies
  • Contract Research Organizations
  • Business Process Outsourcing Firms
  • Others

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Ab Cube, Anju Software Inc., ArisGlobal LLC, Cognizant, Ennov Solutions Inc., Extedo GmbH, Max Application, Oracle Corporation, Sarjen Systems Pvt Ltd, Sparta Systems Inc. (Honeywell International Inc.), Tata Consultancy Services Limited, United BioSource LLC and Wipro Limited. Key Questions Answered in This Report:

  • How has the global pharmacovigilance and drug safety software market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global pharmacovigilance and drug safety software market?
  • What are the key regional markets?
  • What is the breakup of the market based on the functionality?
  • What is the breakup of the market based on the delivery mode?
  • What is the breakup of the market based on the end user?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global pharmacovigilance and drug safety software market and who are the key players?
  • What is the degree of competition in the industry?
Product Code: SR0222A295_Report

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Pharmacovigilance and Drug Safety Software Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Functionality

  • 6.1 Adverse Event Reporting Software
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Drug Safety Audits Software
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast
  • 6.3 Issue Tracking Software
    • 6.3.1 Market Trends
    • 6.3.2 Market Forecast
  • 6.4 Fully Integrated Software
    • 6.4.1 Market Trends
    • 6.4.2 Market Forecast

7 Market Breakup by Delivery Mode

  • 7.1 On-premises
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Cloud-based
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast

8 Market Breakup by End User

  • 8.1 Pharmaceutical and Biotechnology Companies
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Contract Research Organizations
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast
  • 8.3 Business Process Outsourcing Firms
    • 8.3.1 Market Trends
    • 8.3.2 Market Forecast
  • 8.4 Others
    • 8.4.1 Market Trends
    • 8.4.2 Market Forecast

9 Market Breakup by Region

  • 9.1 North America
    • 9.1.1 United States
      • 9.1.1.1 Market Trends
      • 9.1.1.2 Market Forecast
    • 9.1.2 Canada
      • 9.1.2.1 Market Trends
      • 9.1.2.2 Market Forecast
  • 9.2 Asia-Pacific
    • 9.2.1 China
      • 9.2.1.1 Market Trends
      • 9.2.1.2 Market Forecast
    • 9.2.2 Japan
      • 9.2.2.1 Market Trends
      • 9.2.2.2 Market Forecast
    • 9.2.3 India
      • 9.2.3.1 Market Trends
      • 9.2.3.2 Market Forecast
    • 9.2.4 South Korea
      • 9.2.4.1 Market Trends
      • 9.2.4.2 Market Forecast
    • 9.2.5 Australia
      • 9.2.5.1 Market Trends
      • 9.2.5.2 Market Forecast
    • 9.2.6 Indonesia
      • 9.2.6.1 Market Trends
      • 9.2.6.2 Market Forecast
    • 9.2.7 Others
      • 9.2.7.1 Market Trends
      • 9.2.7.2 Market Forecast
  • 9.3 Europe
    • 9.3.1 Germany
      • 9.3.1.1 Market Trends
      • 9.3.1.2 Market Forecast
    • 9.3.2 France
      • 9.3.2.1 Market Trends
      • 9.3.2.2 Market Forecast
    • 9.3.3 United Kingdom
      • 9.3.3.1 Market Trends
      • 9.3.3.2 Market Forecast
    • 9.3.4 Italy
      • 9.3.4.1 Market Trends
      • 9.3.4.2 Market Forecast
    • 9.3.5 Spain
      • 9.3.5.1 Market Trends
      • 9.3.5.2 Market Forecast
    • 9.3.6 Russia
      • 9.3.6.1 Market Trends
      • 9.3.6.2 Market Forecast
    • 9.3.7 Others
      • 9.3.7.1 Market Trends
      • 9.3.7.2 Market Forecast
  • 9.4 Latin America
    • 9.4.1 Brazil
      • 9.4.1.1 Market Trends
      • 9.4.1.2 Market Forecast
    • 9.4.2 Mexico
      • 9.4.2.1 Market Trends
      • 9.4.2.2 Market Forecast
    • 9.4.3 Others
      • 9.4.3.1 Market Trends
      • 9.4.3.2 Market Forecast
  • 9.5 Middle East and Africa
    • 9.5.1 Market Trends
    • 9.5.2 Market Breakup by Country
    • 9.5.3 Market Forecast

10 SWOT Analysis

  • 10.1 Overview
  • 10.2 Strengths
  • 10.3 Weaknesses
  • 10.4 Opportunities
  • 10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

  • 12.1 Overview
  • 12.2 Bargaining Power of Buyers
  • 12.3 Bargaining Power of Suppliers
  • 12.4 Degree of Competition
  • 12.5 Threat of New Entrants
  • 12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

  • 14.1 Market Structure
  • 14.2 Key Players
  • 14.3 Profiles of Key Players
    • 14.3.1 Ab Cube
      • 14.3.1.1 Company Overview
      • 14.3.1.2 Product Portfolio
    • 14.3.2 Anju Software Inc.
      • 14.3.2.1 Company Overview
      • 14.3.2.2 Product Portfolio
    • 14.3.3 ArisGlobal LLC
      • 14.3.3.1 Company Overview
      • 14.3.3.2 Product Portfolio
    • 14.3.4 Cognizant
      • 14.3.4.1 Company Overview
      • 14.3.4.2 Product Portfolio
      • 14.3.4.3 Financials
      • 14.3.4.4 SWOT Analysis
    • 14.3.5 Ennov Solutions Inc.
      • 14.3.5.1 Company Overview
      • 14.3.5.2 Product Portfolio
    • 14.3.6 Extedo GmbH
      • 14.3.6.1 Company Overview
      • 14.3.6.2 Product Portfolio
    • 14.3.7 Max Application
      • 14.3.7.1 Company Overview
      • 14.3.7.2 Product Portfolio
    • 14.3.8 Oracle Corporation
      • 14.3.8.1 Company Overview
      • 14.3.8.2 Product Portfolio
      • 14.3.8.3 Financials
      • 14.3.8.4 SWOT Analysis
    • 14.3.9 Sarjen Systems Pvt Ltd
      • 14.3.9.1 Company Overview
      • 14.3.9.2 Product Portfolio
    • 14.3.10 Sparta Systems Inc. (Honeywell International Inc.)
      • 14.3.10.1 Company Overview
      • 14.3.10.2 Product Portfolio
    • 14.3.11 Tata Consultancy Services Limited
      • 14.3.11.1 Company Overview
      • 14.3.11.2 Product Portfolio
      • 14.3.11.3 Financials
      • 14.3.11.4 SWOT Analysis
    • 14.3.12 United BioSource LLC
      • 14.3.12.1 Company Overview
      • 14.3.12.2 Product Portfolio
    • 14.3.13 Wipro Limited
      • 14.3.13.1 Company Overview
      • 14.3.13.2 Product Portfolio
      • 14.3.13.3 Financials
      • 14.3.13.4 SWOT Analysis

List of Figures

  • Figure 1: Global: Pharmacovigilance and Drug Safety Software Market: Major Drivers and Challenges
  • Figure 2: Global: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016-2021
  • Figure 3: Global: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 4: Global: Pharmacovigilance and Drug Safety Software Market: Breakup by Functionality (in %), 2021
  • Figure 5: Global: Pharmacovigilance and Drug Safety Software Market: Breakup by Delivery Mode (in %), 2021
  • Figure 6: Global: Pharmacovigilance and Drug Safety Software Market: Breakup by End User (in %), 2021
  • Figure 7: Global: Pharmacovigilance and Drug Safety Software Market: Breakup by Region (in %), 2021
  • Figure 8: Global: Pharmacovigilance and Drug Safety Software (Adverse Event Reporting Software) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 9: Global: Pharmacovigilance and Drug Safety Software (Adverse Event Reporting Software) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 10: Global: Pharmacovigilance and Drug Safety Software (Drug Safety Audits Software) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 11: Global: Pharmacovigilance and Drug Safety Software (Drug Safety Audits Software) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 12: Global: Pharmacovigilance and Drug Safety Software (Issue Tracking Software) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 13: Global: Pharmacovigilance and Drug Safety Software (Issue Tracking Software) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 14: Global: Pharmacovigilance and Drug Safety Software (Fully Integrated Software) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 15: Global: Pharmacovigilance and Drug Safety Software (Fully Integrated Software) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 16: Global: Pharmacovigilance and Drug Safety Software (On-premises) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 17: Global: Pharmacovigilance and Drug Safety Software (On-premises) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 18: Global: Pharmacovigilance and Drug Safety Software (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 19: Global: Pharmacovigilance and Drug Safety Software (Cloud-based) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 20: Global: Pharmacovigilance and Drug Safety Software (Pharmaceutical and Biotechnology Companies) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 21: Global: Pharmacovigilance and Drug Safety Software (Pharmaceutical and Biotechnology Companies) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 22: Global: Pharmacovigilance and Drug Safety Software (Contract Research Organizations) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 23: Global: Pharmacovigilance and Drug Safety Software (Contract Research Organizations) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 24: Global: Pharmacovigilance and Drug Safety Software (Business Process Outsourcing Firms) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 25: Global: Pharmacovigilance and Drug Safety Software (Business Process Outsourcing Firms) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 26: Global: Pharmacovigilance and Drug Safety Software (Other End Users) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 27: Global: Pharmacovigilance and Drug Safety Software (Other End Users) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 28: North America: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 29: North America: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 30: United States: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 31: United States: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 32: Canada: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 33: Canada: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 34: Asia-Pacific: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 35: Asia-Pacific: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 36: China: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 37: China: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 38: Japan: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 39: Japan: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 40: India: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 41: India: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 42: South Korea: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 43: South Korea: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 44: Australia: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 45: Australia: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 46: Indonesia: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 47: Indonesia: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 48: Others: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 49: Others: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 50: Europe: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 51: Europe: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 52: Germany: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 53: Germany: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 54: France: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 55: France: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 56: United Kingdom: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 57: United Kingdom: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 58: Italy: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 59: Italy: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 60: Spain: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 61: Spain: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 62: Russia: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 63: Russia: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 64: Others: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 65: Others: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 66: Latin America: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 67: Latin America: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 68: Brazil: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 69: Brazil: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 70: Mexico: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 71: Mexico: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 72: Others: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 73: Others: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 74: Middle East and Africa: Pharmacovigilance and Drug Safety Software Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 75: Middle East and Africa: Pharmacovigilance and Drug Safety Software Market: Breakup by Country (in %), 2021
  • Figure 76: Middle East and Africa: Pharmacovigilance and Drug Safety Software Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 77: Global: Pharmacovigilance and Drug Safety Software Industry: SWOT Analysis
  • Figure 78: Global: Pharmacovigilance and Drug Safety Software Industry: Value Chain Analysis
  • Figure 79: Global: Pharmacovigilance and Drug Safety Software Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Pharmacovigilance and Drug Safety Software Market: Key Industry Highlights, 2021 and 2027
  • Table 2: Global: Pharmacovigilance and Drug Safety Software Market Forecast: Breakup by Functionality (in Million US$), 2022-2027
  • Table 3: Global: Pharmacovigilance and Drug Safety Software Market Forecast: Breakup by Delivery Mode (in Million US$), 2022-2027
  • Table 4: Global: Pharmacovigilance and Drug Safety Software Market Forecast: Breakup by End User (in Million US$), 2022-2027
  • Table 5: Global: Pharmacovigilance and Drug Safety Software Market Forecast: Breakup by Region (in Million US$), 2022-2027
  • Table 6: Global: Pharmacovigilance and Drug Safety Software Market: Competitive Structure
  • Table 7: Global: Pharmacovigilance and Drug Safety Software Market: Key Players