May 12, 2022

| Technavio News provided by Share this article Share this article NEW YORK, May 11, 2022 /PRNewswire/ -- The global pharmacovigilance and drug safety software market size is expected to grow by USD 72.74 million from 2021 to 2026, at a CAGR of 7.11% as per the latest market report by Technavio. 50% of the market's growth will originate from North America during the forecast period. The US is the key market for pharmacovigilance and drug safety software in North America. Market growth in this region will be faster than the growth of the market in other regions. The increase in the number of product recalls will facilitate the pharmacovigilance and drug safety software market growth in North America over the forecast period Technavio has announced its latest market research report titled Pharmacovigilance and Drug Safety Software Market by End-user and Geography - Forecast and Analysis 2022-2026 Read the 120-page report with TOC on "Pharmacovigilance and Drug Safety Software Market Analysis Report by End-user (Pharmaceutical and biotechnology companies, Contract research organization, and Business process outsourcing) and Geography (North America, Europe, Asia, and Rest of World (ROW)), and the Segment Forecasts,2022-2026". Gain competitive intelligence about market leaders. Track key industry opportunities, trends and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/report/pharmacovigilance-and-drug-safety-software-market-industry-analysis  Pharmacovigilance and Drug Safety Software Market: Vendor Analysis The pharmacovigilance and drug safety software market is fragmented and the vendors are deploying growth strategies such as focusing on software innovations and are increasing existing software capabilities to expand their presence and share in the market to compete in the market. The pharmacovigilance and drug safety software market report offer information on several market vendors, including AB Cube SARL, Accenture Plc, Advera Health Analytics Inc., ArisGlobal LLC, BaseCon AS, Clarivate PLC, Cognizant Technology Solutions Corp., Ennov, 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. among others. AB Cube SARL - The company offers pharmacovigilance and drug safety software namely SafetyEasy Suite which is a multi-vigilance management solution that integrates automation with existing drug safety processes. Pharmacovigilance and Drug Safety Software Market: Drivers & Challenges The key factor driving growth in the pharmacovigilance and drug safety software market is the rising incidence rates of adverse drug events. There has been a global surge in the incidence of unwanted and undesirable effects of drugs during their clinical use. This can be attributed to the rising consumption of drugs worldwide and the unwanted medical occurrence and side effects during the treatment, which can result in the discontinuation or modification of drugs. This is a major concern for pharmaceutical manufacturers. Fast adoption of pharmacovigilance and drug safety software products among pharmaceutical and life science manufacturers has been observed owing to the increasing incidence of adverse drug events. The rising geriatric population is expected to further boost the number of patients encountering adverse drug events, which will create a rise in demand for pharmacovigilance and drug safety software. This increase in the geriatric population is anticipated to surge the incidence of adverse drug events, which will positively impact the demand for drug safety software. However, the high cost of ownership, installation, and maintenance will be a major challenge for the pharmacovigilance and drug safety software market during the forecast period. The cost involved in the on-premises and cloud-based software solutions can be categorized into three major categories: initial capital cost (initial cost), deployment cost, and maintenance cost (ongoing and ongoing personnel cost). All these categories are combined to form the total deployment cost. The low adoption of pharmacovigilance and data safety software among small- and medium-scale business enterprises can be observed across the market due to the high ownership, installation, and maintenance costs. The cost of ownership of on-premises software is even higher than cloud-based solutions. On-premises software for pharmacovigilance and drug safety also involves the cost of hardware, network, facility, and security, which makes them highly-priced in the market. Small-scale pharmaceutical manufacturers who do not rely on large volumes of drug safety solutions restrict them towards the purchase of personnel drug safety software, which hampers the market growth. Pharmacovigilance And Drug Safety Software Market: Segmentation Analysis End-user Outlook (Revenue, USD mn, 2021-2026) Pharmaceutical and biotechnology companies - size and forecast 2021-2026 Contract research organization - size and forecast 2021-2026 Business process outsourcing - size and forecast 2021-2026 Geography Outlook (Revenue, USD mn, 2021-2026) North America - size and forecast 2021-2026 Europe - size and forecast 2021-2026 Asia - size and forecast 2021-2026 Rest of World (ROW) - size and forecast 2021-2026 Don't wait, Make a strategic approach & boost your business goals with our Pharmacovigilance and Drug Safety Software Market Forecast Report - Buy Now! Related Reports: The predicted growth of the healthcare information software market share from 2021 to 2026 is USD 11.76 billion at a progressing CAGR of 7.9%. Download a sample now! The cancer registry software market share is expected to increase by USD 54.20 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 11.19%. Download a sample now! Pharmacovigilance and Drug Safety Software Market Scope Report Coverage Companies profiled AB Cube SARL, Accenture Plc, Advera Health Analytics Inc., ArisGlobal LLC, BaseCon AS, Clarivate PLC, Cognizant Technology Solutions Corp., Ennov, 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. Market Dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period, Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. Table of Content Exhibit 27: Data Table on Comparison by End-user 5.3 Pharmaceutical and biotechnology companies - Market size and forecast 2021-2026 Exhibit 28: Chart on Pharmaceutical and biotechnology companies - Market size and forecast 2021-2026 ($ million) Exhibit 29: Data Table on Pharmaceutical and biotechnology companies - Market size and forecast 2021-2026 ($ million) Exhibit 30: Chart on Pharmaceutical and biotechnology companies - Year-over-year growth 2021-2026 (%) Exhibit 31: Data Table on Pharmaceutical and biotechnology companies - Year-over-year growth 2021-2026 (%) 5.4 Contract research organization - Market size and forecast 2021-2026 Exhibit 32: Chart on Contract research organization - Market size and forecast 2021-2026 ($ million) Exhibit 33: Data Table on Contract research organization - Market size and forecast 2021-2026 ($ million) Exhibit 34: Chart on Contract research organization - Year-over-year growth 2021-2026 (%) Exhibit 35: Data Table on Contract research organization - Year-over-year growth 2021-2026 (%) 5.5 Business process outsourcing - Market size and forecast 2021-2026 Exhibit 36: Chart on Business process outsourcing - Market size and forecast 2021-2026 ($ million) Exhibit 37: Data Table on Business process outsourcing - Market size and forecast 2021-2026 ($ million) Exhibit 38: Chart on Business process outsourcing - Year-over-year growth 2021-2026 (%) Exhibit 39: Data Table on Business process outsourcing - Year-over-year growth 2021-2026 (%) 5.6 Market opportunity by End-user Exhibit 40: Market opportunity by End-user ($ million) 6 Customer Landscape Exhibit 45: Data Table on Geographic comparison 7.3 North America - Market size and forecast 2021-2026 Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million) Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million) Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%) Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%) 7.4 Europe - Market size and forecast 2021-2026 Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million) Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million) Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%) Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%) 7.5 Asia - Market size and forecast 2021-2026 Exhibit 54: Chart on Asia - Market size and forecast 2021-2026 ($ million) Exhibit 55: Data Table on Asia - Market size and forecast 2021-2026 ($ million) Exhibit 56: Chart on Asia - Year-over-year growth 2021-2026 (%) Exhibit 57: Data Table on Asia - Year-over-year growth 2021-2026 (%) 7.6 Rest of World (ROW) - Market size and forecast 2021-2026 Exhibit 58: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million) Exhibit 59: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million) Exhibit 60: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%) Exhibit 61: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%) 7.7 US - Market size and forecast 2021-2026 Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million) Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million) Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%) Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%) 7.8 France - Market size and forecast 2021-2026 Exhibit 66: Chart on France - Market size and forecast 2021-2026 ($ million) Exhibit 67: Data Table on France - Market size and forecast 2021-2026 ($ million) Exhibit 68: Chart on France - Year-over-year growth 2021-2026 (%) Exhibit 69: Data Table on France - Year-over-year growth 2021-2026 (%) 7.9 Germany - Market size and forecast 2021-2026 Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million) Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million) Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%) Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%) 7.10 Japan - Market size and forecast 2021-2026 Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million) Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million) Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%) Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%) 7.11 China - Market size and forecast 2021-2026 Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million) Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million) Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%) Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%) 7.12 Market opportunity by geography Exhibit 82: Market opportunity by geography ($ million) 8 Drivers, Challenges, and Trends 8.1 Market drivers About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts