The pharmacovigilance and drug safety software market is forecasted to grow by USD 69.1 million during 2023-2028, accelerating at a CAGR of 6.81% during the forecast period. The report on the pharmacovigilance and drug safety software market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising incidence rates of adverse drug events, favorable government regulations and policies, and increasing approvals of new molecules and biosimilars.
Technavio's pharmacovigilance and drug safety software market is segmented as below:
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
6.38%
CAGR
6.81%
Incremental Value
$69.1 mn
By End-user
Pharmaceutical and biotechnology companies
Contract research organization
Business process outsourcing
By Geographical Landscape
North America
Europe
Asia
Rest of World (ROW)
This study identifies the integration of ai in pharmacovigilance as one of the prime reasons driving the pharmacovigilance and drug safety software market growth during the next few years. Also, outsourcing pharmacovigilance and drug safety research to contract research organization (cros) and extensive adoption of cloud technologies in pharmaceutical manufacturing and testing will lead to sizable demand in the market.
The report on the pharmacovigilance and drug safety software market covers the following areas:
Pharmacovigilance and drug safety software market sizing
Pharmacovigilance and drug safety software market forecast
Pharmacovigilance and drug safety software market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading pharmacovigilance and drug safety software market vendors that include AB Cube SARL, Accenture Plc, Advera Health Analytics Inc., ArisGlobal LLC, BaseCon AS, Clarivate PLC, Cognizant Technology Solutions Corp., Ennov SAS, EXTEDO GmbH, Honeywell International Inc., Indegene Pvt. Ltd., IQVIA Holdings Inc., Max Application Srl, Oracle Corp., Pegasystems Inc., Sarjen Systems Pvt. Ltd., United BioSource LLC, Veeva Systems Inc., and Wipro Ltd.. Also, the pharmacovigilance and drug safety software market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by End-user
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ million)
Data Table on Global - Market size and forecast 2023-2028 ($ million)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global Pharmacovigilance And Drug Safety Software Market 2018 - 2022
Historic Market Size - Data Table on Global Pharmacovigilance And Drug Safety Software Market 2018 - 2022 ($ million)