USD 72.74 Mn growth opportunity in Pharmacovigilance and Drug Safety Software Market -- Driven by rising incidence rates of adverse drug events

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NEW YORK, Aug. 10, 2022 /PRNewswire/ -- The "Pharmacovigilance and Drug Safety Software Market by End-user and Geography - Forecast and Analysis 2022-2026" report by Technavio expects the market size to increase by USD 72.74 million between 2021 and 2026, expanding at a CAGR of 7.11% during the forecast period. The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies. Download Sample Report Here

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
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

 

The market is analyzed across the following segments:

  • End-user - Pharmaceutical and biotechnology companies, Contract research organizations, and Business process outsourcing

  • Geography - North America, Europe, Asia, and Rest of World (ROW)

By end-user, the pharmaceutical industry exhibited high demand for pharmacovigilance and drug safety software in 2021. The software is used by pharmaceutical and biotechnology companies to ensure the safety of patients and products through pre-market and post-market monitoring as well as the study and identification of previously unrecognized adverse drug reactions and events. In addition, the increasing number of clinical trials and the growth in pharmaceutical spending has been crucial in driving the growth of the segment.

In terms of region, North America will emerge as the key market for pharmacovigilance and drug safety software over the forecast period. The growth of the regional market can be attributed to the increased focus on the development of cost-effective and advanced cloud-based solutions by vendors operating in North America. In addition, the increase in the number of product recalls has created a rising demand for drug safety testing, further driving the demand for pharmacovigilance and drug safety software in the region.

Key Market Dynamics:

  • Market Driver

  • Market Challenges

The rising incidence rates of adverse drug events and favorable government regulations and policies are some of the key market drivers. However, factors such as the high cost of ownership, installation, and maintenance will challenge market growth.

The report offers detailed insights into the contribution of all the segments, regional growth opportunities, and the factors impacting the growth of the market in focus. View Sample Report Now

Vendor Landscape:

The global pharmacovigilance and drug safety software market is fragmented. The market is facing intense competition, which is creating pricing pressure on various global and local players. These players are focusing on software innovations and are increasing existing software capabilities to expand their presence and share in the market.

The leading vendors are focusing on inorganic growth strategies by acquiring small and local players to broaden their software portfolio and expand to emerging markets. They are also investing in R&D to enhance and upgrade their existing product portfolio and introduce innovative software with advanced technological features to have a competitive edge. The competition is expected to increase during the forecast period due to the entry of many new small and large players in the market. Technavio identifies the following as the dominant players in the market.

  • 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.

  • Wipro Ltd.

Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request Sample Report Now

Related Reports:

Pharmacovigilance and Drug Safety Software Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.11%

Market growth 2022-2026

USD 72.74 million

Market structure

Fragmented

YoY growth (%)

6.7

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 50%

Key consumer countries

US, Germany, France, Japan, and China

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

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, and 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 Contents:

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2021

  • 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by End-user

  • 5.1 Market segments

  • 5.2 Comparison by End-user

  • 5.3 Pharmaceutical and biotechnology companies - Market size and forecast 2021-2026

  • 5.4 Contract research organization - Market size and forecast 2021-2026

  • 5.5 Business process outsourcing - Market size and forecast 2021-2026

  • 5.6 Market opportunity by End-user

6 Customer Landscape

  • 6.1 Customer landscape overview

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 North America - Market size and forecast 2021-2026

  • 7.4 Europe - Market size and forecast 2021-2026

  • 7.5 Asia - Market size and forecast 2021-2026

  • 7.6 Rest of World (ROW) - Market size and forecast 2021-2026

  • 7.7 US - Market size and forecast 2021-2026

  • 7.8 France - Market size and forecast 2021-2026

  • 7.9 Germany - Market size and forecast 2021-2026

  • 7.10 Japan - Market size and forecast 2021-2026

  • 7.11 China - Market size and forecast 2021-2026

  • 7.12 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Impact of drivers and challenges

  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview

  • 9.2 Vendor landscape

  • 9.3 Landscape disruption

  • 9.4 Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 AB Cube SARL

  • 10.4 ArisGlobal LLC

  • 10.5 BaseCon AS

  • 10.6 Ennov

  • 10.7 EXTEDO GmbH

  • 10.8 Honeywell International Inc.

  • 10.9 Indegene Pvt. Ltd.

  • 10.10 Oracle Corp.

  • 10.11 Sarjen Systems Pvt. Ltd.

  • 10.12 United BioSource LLC

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Inclusions and exclusions checklist

  • 11.3 Currency conversion rates for US$

  • 11.4 Research methodology

  • 11.5 List of abbreviations

About Us

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.

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