The report “Pharmacovigilance
and Drug Safety Software Market by Functionality
(Adverse Event Reporting, Fully Integrated Software), Delivery Mode
(On-premise, On-demand/Cloud based (SAAS)), End-user (Pharma & Biotech
Companies, CROs, BPOs) - Global Forecast to 2019” The
global pharmacovigilance and drug safety software market is poised to grow at a
CAGR of 6.5% during 2014-2019, and is expected to reach a value of $154.1
Million in 2019.
In this report, the global pharmacovigilance and drug safety
software market has been classified into many segments on the basis of
functionality, namely, adverse event reporting software, drug safety audits
software, issue tracking software, and fully integrated software. The global
pharmacovigilance and drug safety software market is divided into two segments
on the basis of delivery mode, namely, on-premise delivery mode and
on-demand/cloud based (SaaS) delivery mode.
The global pharmacovigilance and drug safety software market is
also segmented on the basis of end users including pharma and biotech
companies, contract research organizations (CROs), business process outsourcing
(BPO) firms, and other pharmacovigilance service providers.
Factors such as rising incidence rates of adverse drug reactions
(ADRs) and increasing adoption of pharmacovigilance software by outsourcing
companies are driving the growth of the global pharmacovigilance and drug safety
software market. In addition; government regulatory bodies (such as the U.S.
FDA and EMEA) have intensified safety regulations for prior and post
commercialization of drugs, which has increased pressure on the pharmaceutical
and biotechnology companies to manufacture safe drugs and evaluate their
results post sales.
Thus, growing complexity related to drug safety regulations is
expected to drive the growth of the market during the forecast period.
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Geography:
North America holds the largest share of
the global pharmacovigilance and drug safety software market, followed by
Europe. However, Asian and Latin American countries represent high growth
markets, owing to a rise in research outsourcing by pharmaceutical giants and
growing public and private investments in pharmaceutical R&D in these
emerging nations.
ArisGlobal (U.S.), Ennov Solutions Inc.
(U.S.), EXTEDO GmbH (U.S.), Online Business Applications, Inc. (U.S.), Oracle
Corporation (U.S.), Sarjen Systems Pvt. Ltd (India), Sparta Systems, Inc.
(U.S.), and United BioSource Corporation (U.S.) are some of the key players in
the global pharmacovigilance and drug safety software market.
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