Pharmacovigilance and Drug Safety Software Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Report Code: ZMR-3172 | Report Format : | Status : Upcoming |

Abstract

Global Pharmacovigilance and Drug Safety Software Market: Overview

Drug safety management tool or software that helps in classifying, reviewing, creating pharmacovigilance data is known as pharmacovigilance software or PV software. In addition, the PV software is mostly utilized by BPOs, major pharmacovigilance solution providers, and contract research organizations (CROs).

Global Pharmacovigilance and Drug Safety Software Market: Growth Factors

There are numerous growth drivers, opportunities, and restraints which are likely to shape the coming future of the global pharmacovigilance and drug safety software market. Important aspects which include increasing incidences of ADRs are likely to play a significant role in fuelling the global pharmacovigilance and drug safety software market. In addition, increasing implementation rate of this software by several outsourcing companies have kept the coming future of the market very bright. Moreover, a government entity which comprises EMEA, FDA, and others, has augmented the pressure on the pharmaceutical and biotechnology brands to produce safe drugs. The aforesaid aspect has also added to the rising market share of the sector. On the other hand, lack of knowledge about the advantages related to the global pharmacovigilance and drug safety software market is likely to restrain its development.

Global Pharmacovigilance and Drug Safety Software Market: Segmentation

The global pharmacovigilance and drug safety software market is classified in terms of delivery model, functions, end-customers, and region. In terms of function, the global pharmacovigilance and drug safety software market is categorized into adverse event reporting solution, fully integrated solution, issue tracking solution. In terms of delivery model, the global pharmacovigilance and drug safety software is bifurcated into on premise delivery and on-demand. In terms of end-user, the global pharmacovigilance and drug safety software market can be fragmented into CROs, pharma companies, BPOs, and others.

Global Pharmacovigilance and Drug Safety Software Market: Regional Analysis

In terms of geography, North America is likely to lead the market and is projected to continue this development in the coming future. Due to government supportive initiatives which are favoring the acceptance of pharmacovigilance and drug safety software, the regional market is projected to witness significant development in the coming years. For example, the Open FDA initiative offers application developers and scientists to access its immense database by open programs based on search, which is projected to propel the usage rates in the coming years. Mini-Sentinel is a venture which was actually initiated by the U.S. FDA to endorse surveillance systems, which offers statistically significant data in much lesser time. Several initiatives strengthen the development of the provincial market. Several companies in the Asia Pacific region offer significant cost saving benefits. This is likely to lead to increased volume of several clinical trials which are being conducted in this province. Increase in demand and occurrence of several clinical trials is likely to lead to growing focus on pharmacovigilance and drug safety software market. Along with China and India, South Korea, Singapore, and Taiwan are likely to be recognized as the major outsourcing hubs in Asia Pacific. Growing number of poor drug reactions, increasing knowledge about stringent governmental regulations and public safety are few of the aspects projected to propel the market expansion.

Global Pharmacovigilance and Drug Safety Software Market: Competitive Players

Some of the most important market players in the pharmacovigilance and drug safety software are Online Business Applications, Inc., Oracle Corporation, United BioSource Corporation, Sparta Systems, Inc., and others.

Global Pharmacovigilance and Drug Safety Software Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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