Middle East & Africa Pharmacovigilance and Drug Safety Software Market Report 2021-2031 by Scope, Segmentation, Dynamics, and Competitive Analysis

Description

List of Tables

The pharmacovigilance and drug safety software market in the Middle East and Africa was valued at approximately US$ 6.50 million in 2023, with projections indicating it will grow to US$ 8.32 million by 2031. This growth represents a compound annual growth rate (CAGR) of 3.1% from 2023 to 2031. A significant driver of this market is the increasing adoption of cloud-based pharmacovigilance and drug safety software, which enhances the ability of pharmaceutical companies to monitor adverse events in real-time.

Cloud-based solutions provide pharmaceutical companies with the capability to quickly detect and respond to safety signals. The real-time access to data allows for the generation of safety reports on demand, which significantly accelerates decision-making processes. This immediacy is vital in preventing adverse events from escalating into serious public health crises. One of the key advantages of cloud-based drug safety solutions is their scalability; as companies expand or as data volumes increase, these platforms can adjust accordingly without necessitating further infrastructure investments. This flexibility is particularly important in pharmacovigilance, where data volumes can vary greatly depending on the drug's lifecycle stage.

Moreover, cloud-based systems facilitate the establishment of global pharmacovigilance networks, enabling real-time data sharing across borders. Such networks enhance comprehensive drug safety monitoring, allowing for the swift identification and mitigation of risks. Various companies are actively developing and launching cloud-based pharmacovigilance and drug safety software. Notable examples include Clinevo Technologies, Thermo Fisher Scientific Inc., and Sarjen Systems Pvt. Ltd. For instance, in December 2023, Thermo Fisher Scientific Inc. introduced the CorEvidence data lake platform, a cloud-based application designed to optimize pharmacovigilance case processing and drug safety data management. This platform aims to improve workflows and deliverables management in pharmacovigilance, handling multiple adverse events and ensuring safety monitoring post-drug authorization.

The Middle East and Africa pharmacovigilance and drug safety software market is segmented into several regions, including the UAE, Saudi Arabia, South Africa, and the rest of the Middle East and Africa. Digital transformation is a primary objective in the region, as various governments recognize the necessity of adopting digital technologies for economic diversification and sustainability. The healthcare and pharmaceutical sectors are experiencing significant growth, particularly in Saudi Arabia, which accounted for about 60% of the total healthcare expenditure among Gulf Cooperation Council (GCC) countries in 2023. According to the US Department of Commerce's International Trade Administration, Saudi Arabia invested approximately US$ 50.4 billion in healthcare, pharmaceuticals, and social development in 2023, representing around 17% of its total budget. The Saudi government plans to invest around US$ 65 billion in developing a robust healthcare and pharmaceutical infrastructure by 2030. Such investments are expected to enhance the digital infrastructure within the industry, thereby increasing the demand for pharmacovigilance and drug safety software from 2023 to 2031.

The market is further categorized based on various factors, including offering, deployment, enterprise size, form, functionality, end user, and country. In terms of offerings, the market is divided into software and services, with the software segment holding a larger share in 2023. Regarding deployment, the market is segmented into cloud and on-premises solutions, with cloud solutions dominating the market share in 2023.

When considering enterprise size, the market is divided into large enterprises and small to medium-sized enterprises (SMEs), with large enterprises holding a more significant share. The market is also categorized by form into standard and customized solutions, where standard solutions held a larger market share in 2023. Functionality-wise, the market includes segments such as signal and risk management, issue tracking and adverse event tracking, case management, clinical safety management, quality and compliance, medical writing, audit support, training compliance, healthcare analytics, and others. The signal and risk management segment was the largest in terms of market share in 2023.

In terms of end users, the market is segmented into pharmaceutical and biotechnology companies, contract research organizations, business process outsourcing (BPO) firms, and others, with pharmaceutical and biotechnology companies holding the largest market share. By country, the market is categorized into Saudi Arabia, the UAE, South Africa, and the rest of the Middle East and Africa, with Saudi Arabia leading the market share in 2023.

Key players in the Middle East and Africa pharmacovigilance and drug safety software market include Veeva Systems Inc., IQVIA Holdings Inc., AB Cube S.A.S., ArisGlobal LLC, Oracle Corp, Max Application, ICON Plc, Cognizant Technology Solutions Corp, Accenture Plc, Syneos Health Inc., Genpact Ltd., Laboratory Corp of America Holdings, Parexel International Corp, Qinecsa Solutions, and Clinevo Technologies. These companies are at the forefront of developing innovative solutions to enhance drug safety and pharmacovigilance practices in the region.

Product Code: TIPRE00022772

1. Introduction

1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macroeconomic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country-level data:
3.3 Assumptions and Limitations

4. Middle East & Africa Pharmacovigilance and Drug Safety Software Market Landscape

4.1 Overview
4.2 Ecosystem Analysis
- 4.2.1 Software/Service Providers:
- 4.2.2 System Integrators:
- 4.2.3 Regulatory Bodies:
- 4.2.4 End-Users:
4.3 List of Vendors in the Value Chain

5. Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Rise in Incidences of Adverse Drug Reactions
- 5.1.2 Globalization of Pharmacovigilance
5.2 Market Restraints
- 5.2.1 High Installation and Maintenance Costs
5.3 Market Opportunities
- 5.3.1 Integration of Software with AI, ML, and NLP
5.4 Future Trends
- 5.4.1 Cloud-Based Pharmacovigilance and Drug Safety Software:
5.5 Impact of Drivers and Restraints:

6. Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Analysis

6.1 Middle East & Africa Pharmacovigilance and Drug Safety Software Market Revenue (US$ Thousand), 2021-2031
6.2 Middle East & Africa Pharmacovigilance and Drug Safety Software Market Forecast Analysis

7. Middle East & Africa Pharmacovigilance and Drug Safety Software Market Analysis - by Offering

7.1 Software
- 7.1.1 Overview
- 7.1.2 Software: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
7.2 Services
- 7.2.1 Overview
- 7.2.2 Services: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)

8. Middle East & Africa Pharmacovigilance and Drug Safety Software Market Analysis - by Deployment

8.1 Cloud
- 8.1.1 Overview
- 8.1.2 Cloud: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
8.2 On Premises
- 8.2.1 Overview
- 8.2.2 On Premises: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)

9. Middle East & Africa Pharmacovigilance and Drug Safety Software Market Analysis - by Enterprise Size

9.1 Large Enterprises
- 9.1.1 Overview
- 9.1.2 Large Enterprises: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
9.2 SMEs
- 9.2.1 Overview
- 9.2.2 SMEs: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)

10. Middle East & Africa Pharmacovigilance and Drug Safety Software Market Analysis - by Form

10.1 Standard
- 10.1.1 Overview
- 10.1.2 Standard: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
10.2 Customized
- 10.2.1 Overview
- 10.2.2 Customized: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)

11. Middle East & Africa Pharmacovigilance and Drug Safety Software Market Analysis - by Functionality

11.1 Signal and Risk Management
- 11.1.1 Overview
- 11.1.2 Signal and Risk Management: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
11.2 Issue Tracking and Adverse Event Tracking
- 11.2.1 Overview
- 11.2.2 Issue Tracking and Adverse Event Tracking: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
11.3 Case Management
- 11.3.1 Overview
- 11.3.2 Case Management: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
11.4 Clinical Safety Management and Clinical Trial Safety
- 11.4.1 Overview
- 11.4.2 Clinical Safety Management and Clinical Trial Safety: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
11.5 Quality and Compliance
- 11.5.1 Overview
- 11.5.2 Quality and Compliance: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
11.6 Medical Writing
- 11.6.1 Overview
- 11.6.2 Medical Writing: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
11.7 Audit Support and Training Compliance
- 11.7.1 Overview
- 11.7.2 Audit Support and Training Compliance: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
11.8 Healthcare Analytics
- 11.8.1 Overview
- 11.8.2 Healthcare Analytics: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
11.9 Others
- 11.9.1 Overview
- 11.9.2 Others: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)

12. Middle East & Africa Pharmacovigilance and Drug Safety Software Market Analysis - by End User

12.1 Pharmaceutical and Biotechnology Companies
- 12.1.1 Overview
- 12.1.2 Pharmaceutical and Biotechnology Companies: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
12.2 Contract Research Organizations
- 12.2.1 Overview
- 12.2.2 Contract Research Organizations: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
12.3 Business Process Outsourcing (BPO) Firms
- 12.3.1 Overview
- 12.3.2 Business Process Outsourcing (BPO) Firms: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
12.4 Others
- 12.4.1 Overview
- 12.4.2 Others: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)

13. Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Country Analysis

13.1 Middle East and Africa
- 13.1.1 Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast Analysis - by Country
  - 13.1.1.1 Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast Analysis - by Country
  - 13.1.1.2 Saudi Arabia: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
    - 13.1.1.2.1 Saudi Arabia: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Offering
    - 13.1.1.2.2 Saudi Arabia: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Deployment
    - 13.1.1.2.3 Saudi Arabia: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Enterprise Size
    - 13.1.1.2.4 Saudi Arabia: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Form
    - 13.1.1.2.5 Saudi Arabia: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Functionality
    - 13.1.1.2.6 Saudi Arabia: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by End User
  - 13.1.1.3 United Arab Emirates: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
    - 13.1.1.3.1 United Arab Emirates: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Offering
    - 13.1.1.3.2 United Arab Emirates: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Deployment
    - 13.1.1.3.3 United Arab Emirates: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Enterprise Size
    - 13.1.1.3.4 United Arab Emirates: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Form
    - 13.1.1.3.5 United Arab Emirates: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Functionality
    - 13.1.1.3.6 United Arab Emirates: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by End User
  - 13.1.1.4 South Africa: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
    - 13.1.1.4.1 South Africa: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Offering
    - 13.1.1.4.2 South Africa: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Deployment
    - 13.1.1.4.3 South Africa: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Enterprise Size
    - 13.1.1.4.4 South Africa: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Form
    - 13.1.1.4.5 South Africa: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Functionality
    - 13.1.1.4.6 South Africa: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by End User
  - 13.1.1.5 Rest of Middle East and Africa: Middle East & Africa Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
    - 13.1.1.5.1 Rest of Middle East and Africa: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Offering
    - 13.1.1.5.2 Rest of Middle East and Africa: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Deployment
    - 13.1.1.5.3 Rest of Middle East and Africa: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Enterprise Size
    - 13.1.1.5.4 Rest of Middle East and Africa: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Form
    - 13.1.1.5.5 Rest of Middle East and Africa: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by Functionality
    - 13.1.1.5.6 Rest of Middle East and Africa: Middle East & Africa Pharmacovigilance and Drug Safety Software Market Share - by End User

14. Competitive Landscape

14.1 Heat Map Analysis by Key Players
14.2 Company Positioning and Concentration

15. Industry Landscape

15.1 Overview
15.2 Market Initiative
15.3 Partnerships and Collaborations

16. Company Profiles

16.1 ArisGlobal LLC
- 16.1.1 Key Facts
- 16.1.2 Business Description
- 16.1.3 Products and Services
- 16.1.4 Financial Overview
- 16.1.5 SWOT Analysis
- 16.1.6 Key Developments
16.2 Max Application
- 16.2.1 Key Facts
- 16.2.2 Business Description
- 16.2.3 Products and Services
- 16.2.4 Financial Overview
- 16.2.5 SWOT Analysis
- 16.2.6 Key Developments
16.3 Oracle Corp
- 16.3.1 Key Facts
- 16.3.2 Business Description
- 16.3.3 Products and Services
- 16.3.4 Financial Overview
- 16.3.5 SWOT Analysis
- 16.3.6 Key Developments
16.4 Veeva Systems Inc
- 16.4.1 Key Facts
- 16.4.2 Business Description
- 16.4.3 Products and Services
- 16.4.4 Financial Overview
- 16.4.5 SWOT Analysis
- 16.4.6 Key Developments
16.5 IQVIA Holdings Inc
- 16.5.1 Key Facts
- 16.5.2 Business Description
- 16.5.3 Products and Services
- 16.5.4 Financial Overview
- 16.5.5 SWOT Analysis
- 16.5.6 Key Developments
16.6 ICON Plc
- 16.6.1 Key Facts
- 16.6.2 Business Description
- 16.6.3 Products and Services
- 16.6.4 Financial Overview
- 16.6.5 SWOT Analysis
- 16.6.6 Key Developments
16.7 Cognizant Technology Solutions Corp
- 16.7.1 Key Facts
- 16.7.2 Business Description
- 16.7.3 Products and Services
- 16.7.4 Financial Overview
- 16.7.5 SWOT Analysis
- 16.7.6 Key Developments
16.8 Accenture Plc
- 16.8.1 Key Facts
- 16.8.2 Business Description
- 16.8.3 Products and Services
- 16.8.4 Financial Overview
- 16.8.5 SWOT Analysis
- 16.8.6 Key Developments
16.9 Syneos Health Inc
- 16.9.1 Key Facts
- 16.9.2 Business Description
- 16.9.3 Products and Services
- 16.9.4 Financial Overview
- 16.9.5 SWOT Analysis
- 16.9.6 Key Developments
16.10 Genpact Ltd.
- 16.10.1 Key Facts
- 16.10.2 Business Description
- 16.10.3 Products and Services
- 16.10.4 Financial Overview
- 16.10.5 SWOT Analysis
- 16.10.6 Key Developments
16.11 AB Cube S.A.S.
- 16.11.1 Key Facts
- 16.11.2 Business Description
- 16.11.3 Products and Services
- 16.11.4 Financial Overview
- 16.11.5 SWOT Analysis
- 16.11.6 Key Developments
16.12 Laboratory Corp of America Holdings
- 16.12.1 Key Facts
- 16.12.2 Business Description
- 16.12.3 Products and Services
- 16.12.4 Financial Overview
- 16.12.5 SWOT Analysis
- 16.12.6 Key Developments
16.13 Parexel International Corp
- 16.13.1 Key Facts
- 16.13.2 Business Description
- 16.13.3 Products and Services
- 16.13.4 Financial Overview
- 16.13.5 SWOT Analysis
- 16.13.6 Key Developments
16.14 Qinecsa Solutions
- 16.14.1 Key Facts
- 16.14.2 Business Description
- 16.14.3 Products and Services
- 16.14.4 Financial Overview
- 16.14.5 SWOT Analysis
- 16.14.6 Key Developments
16.15 Clinevo Technologies
- 16.15.1 Key Facts
- 16.15.2 Business Description
- 16.15.3 Products and Services
- 16.15.4 Financial Overview
- 16.15.5 SWOT Analysis
- 16.15.6 Key Developments

17. Appendix

17.1 Word Index
17.2 About the Insight Partners