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

Market Overview:

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 growth rate (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.

 

 
 

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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:

 

 
 

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  • Adverse Event Reporting Software
  • 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:

 

 
 

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  • 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Million 
Segment Coverage Functionality, Delivery Mode, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

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?

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


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