Asia Pacific 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 Asia Pacific region was valued at approximately US$ 44.40 million in 2023, with projections indicating it will grow to US$ 68.66 million by 2031. This growth represents a compound annual growth rate (CAGR) of 5.6% from 2023 to 2031.

A significant driver of this market expansion is the integration of advanced technologies such as artificial intelligence (AI), machine learning (ML), and natural language processing (NLP). These technologies are revolutionizing the traditionally resource-intensive processes associated with pharmacovigilance, leading to more informed and efficient operations. Modern pharmacovigilance software platforms are increasingly equipped with sophisticated analytics and AI capabilities that enhance the identification of safety signals. By analyzing large datasets, these tools can uncover correlations and patterns that might be missed by conventional methods. Furthermore, AI-driven predictive analytics can anticipate potential safety issues, enabling companies to implement proactive measures.

Machine learning models are particularly useful in predicting adverse events related to drug use. For example, pharmacovigilance initiatives utilize ML to analyze extensive datasets, identifying patterns that may suggest risks of adverse drug reactions. These algorithms excel at processing unstructured data, such as social media content and patient records, to forecast safety concerns effectively.

Several key players in the market are developing automated AI-based monitoring tools to facilitate drug development for pharmaceutical companies. Notably, in May 2021, Clarivate introduced DialogML, an AI-driven pharmacovigilance literature monitoring software platform. This tool automates the monitoring of pharmacovigilance literature, streamlining processes such as aggregate report generation and safety signal reviews. In January 2024, PubHive Ltd. launched an innovative centralized summary of product characteristics (SmPC) management platform that incorporates AI-powered pharmacovigilance workflows. This platform is designed for life sciences, pharmaceutical companies, and clinical research organizations (CROs), enhancing compliance and operational efficiency for pharmacovigilance teams.

The use of AI systems is increasingly prevalent in real-time drug safety monitoring, which encompasses clinical trial data, medical literature reviews, and patient registries to identify adverse events (AEs). This proactive approach improves the accuracy and speed of adverse drug reaction (ADR) detection. Additionally, NLP technologies enable AI systems to extract pertinent information, such as drug names and symptoms, from extensive textual datasets, facilitating rapid and accurate adverse event reporting. This capability accelerates the identification of new or previously unknown drug safety issues, significantly advancing pharmacovigilance efforts.

The Asia Pacific pharmacovigilance and drug safety software market is segmented into various countries, including India, China, Japan, South Korea, Australia, and the rest of the Asia Pacific region. The region is experiencing a surge in digitization within its healthcare and pharmaceutical sectors. For instance, the Indian government has initiated several programs, such as the Ayushman Bharat Digital Mission and the CoWIN App, aimed at enhancing healthcare accessibility. Similarly, Australia has committed to modernizing its healthcare and pharmaceutical sectors, with a notable investment of US$ 74.91 thousand (AU$ 107.2 thousand) announced in March 2022.

The integration of AI in pharmacovigilance and drug safety software is becoming increasingly common among pharmaceutical companies, which utilize these systems to monitor, collect, analyze, and manage drug safety data. As the demand for pharmacovigilance grows across the region, there is a marked shift towards adopting advanced software solutions. These tools are employed throughout various stages of drug development, including pre-marketing and post-marketing surveillance, as well as during clinical trials. Consequently, the rise in digitalization initiatives within the pharmaceutical sector and the increasing adoption of pharmacovigilance software are expected to drive market growth in the Asia Pacific region.

The market is further categorized based on offerings, deployment methods, enterprise size, software form, functionality, and end users. 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 cloud segment has also captured a significant market share, reflecting a preference for cloud-based solutions.

When considering enterprise size, large enterprises dominate the market, while the software form is categorized into standard and customized solutions, with standard software leading in market share. Functionality-wise, the market includes segments such as signal and risk management, adverse event tracking, case management, and clinical safety management, with signal and risk management being the most prominent segment.

In terms of end users, pharmaceutical and biotechnology companies represent the largest segment, while the market is also segmented by country, with China leading in market share in 2023.

Key players in the Asia Pacific 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 that enhance drug safety and pharmacovigilance practices.

Product Code: TIPRE00022770

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. Asia Pacific Pharmacovigilance and Drug Safety Software Market Landscape

4.1 Overview
4.2 Ecosystem Analysis
4.3 Lit of Vendors in the Value Chain

5. Asia Pacific Pharmacovigilance and Drug Safety Software Market - Key Market Dynamics

5.1 Market Drivers
5.2 Market Restraints
5.3 Market Opportunities
5.4 Future Trends
5.5 Impact of Drivers and Restraints:

6. Asia Pacific Pharmacovigilance and Drug Safety Software Market - Analysis

6.1 Asia Pacific Pharmacovigilance and Drug Safety Software Market Revenue (US$ Thousand), 2021-2031
6.2 Asia Pacific Pharmacovigilance and Drug Safety Software Market Forecast Analysis

7. Asia Pacific Pharmacovigilance and Drug Safety Software Market Analysis - by Offering

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

8. Asia Pacific Pharmacovigilance and Drug Safety Software Market Analysis - by Deployment

8.1 Cloud
- 8.1.1 Overview
- 8.1.2 Cloud: Asia Pacific 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: Asia Pacific Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)

9. Asia Pacific Pharmacovigilance and Drug Safety Software Market Analysis - by Enterprise Size

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

10. Asia Pacific Pharmacovigilance and Drug Safety Software Market Analysis - by Form

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

11. Asia Pacific 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: Asia Pacific 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: Asia Pacific 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: Asia Pacific 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: Asia Pacific 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: Asia Pacific 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: Asia Pacific 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: Asia Pacific 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: Asia Pacific Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
11.9 Others
- 11.9.1 Overview
- 11.9.2 Others: Asia Pacific Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)

12. Asia Pacific 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: Asia Pacific 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: Asia Pacific 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: Asia Pacific Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
12.4 Others
- 12.4.1 Overview
- 12.4.2 Others: Asia Pacific Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)

13. Asia Pacific Pharmacovigilance and Drug Safety Software Market - Country Analysis

13.1 Asia Pacific
- 13.1.1 Asia Pacific Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast Analysis - by Country
  - 13.1.1.1 Asia Pacific Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast Analysis - by Country
  - 13.1.1.2 China: Asia Pacific Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
    - 13.1.1.2.1 China: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Offering
    - 13.1.1.2.2 China: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Deployment
    - 13.1.1.2.3 China: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Enterprise Size
    - 13.1.1.2.4 China: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Form
    - 13.1.1.2.5 China: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Functionality
    - 13.1.1.2.6 China: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by End User
  - 13.1.1.3 Japan: Asia Pacific Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
    - 13.1.1.3.1 Japan: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Offering
    - 13.1.1.3.2 Japan: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Deployment
    - 13.1.1.3.3 Japan: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Enterprise Size
    - 13.1.1.3.4 Japan: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Form
    - 13.1.1.3.5 Japan: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Functionality
    - 13.1.1.3.6 Japan: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by End User
  - 13.1.1.4 India: Asia Pacific Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
    - 13.1.1.4.1 India: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Offering
    - 13.1.1.4.2 India: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Deployment
    - 13.1.1.4.3 India: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Enterprise Size
    - 13.1.1.4.4 India: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Form
    - 13.1.1.4.5 India: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Functionality
    - 13.1.1.4.6 India: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by End User
  - 13.1.1.5 South Korea: Asia Pacific Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
    - 13.1.1.5.1 South Korea: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Offering
    - 13.1.1.5.2 South Korea: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Deployment
    - 13.1.1.5.3 South Korea: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Enterprise Size
    - 13.1.1.5.4 South Korea: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Form
    - 13.1.1.5.5 South Korea: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Functionality
    - 13.1.1.5.6 South Korea: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by End User
  - 13.1.1.6 Australia: Asia Pacific Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
    - 13.1.1.6.1 Australia: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Offering
    - 13.1.1.6.2 Australia: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Deployment
    - 13.1.1.6.3 Australia: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Enterprise Size
    - 13.1.1.6.4 Australia: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Form
    - 13.1.1.6.5 Australia: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Functionality
    - 13.1.1.6.6 Australia: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by End User
  - 13.1.1.7 Rest of APAC: Asia Pacific Pharmacovigilance and Drug Safety Software Market - Revenue and Forecast, 2021-2031 (US$ Thousand)
    - 13.1.1.7.1 Rest of APAC: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Offering
    - 13.1.1.7.2 Rest of APAC: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Deployment
    - 13.1.1.7.3 Rest of APAC: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Enterprise Size
    - 13.1.1.7.4 Rest of APAC: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Form
    - 13.1.1.7.5 Rest of APAC: Asia Pacific Pharmacovigilance and Drug Safety Software Market Share - by Functionality
    - 13.1.1.7.6 Rest of APAC: Asia Pacific 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 About Us
17.2 List of Abbreviations