The value of the global pharmacovigilance and drug safety software market was USD 8.50 billion in 2023, driven by the increasing incidence of adverse drug reactions across the globe. The market value is anticipated to grow at a CAGR of 9% during the forecast period of 2024-2032 to reach a value of USD 18.43 billion by 2032.
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After licensing, pharmacovigilance is the profession of tracking the impacts of medical drugs. This is performed in particular to recognize and examine the prior unfavourable responses of unannounced pharmaceutical drugs.
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The global market for pharmacovigilance and drug safety software is expected to accelerate due to the increasing incidences of ADR or adverse drug reaction and the rise of several outsourcing businesses adopting interconnected software services. With an increased demand for different drugs and medicines worldwide and the ongoing attempts to produce secure medicines and the growing pressure on numerous biotech and pharmaceutical companies, the market is anticipated to experience significant development in the years to come.
The pharmacovigilance and drug safety software market can be divided on the basis of segments like functionality, mode of delivery, and end-use.
The industry can be categorised on the basis of its functionality:
The industry can be divided based on its mode of delivery:
The industry can be broadly categorised based on its end-use into:
Looks into the regional markets of pharmacovigilance and drug safety software like:
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The adoption of pharmacovigilance software in the market has become simpler for players with readily available information and the decreased use of obsolete information. The critical use of pharmacovigilance and drug safety is projected to boost the global market for multiple clinical research. As a consequence of particular drug consumption, the increase in patient safety problems, and the surge in adverse side effects may increase the global drug safety software and pharmacovigilance market. This market growth could also be mainly be correlated with the accessibility of clinical trial programs and reductions in medical spending.
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The report presents a detailed analysis of the following key players in the global pharmacovigilance and drug safety software industry, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global pharmacovigilance and drug safety software market is estimated to witness a healthy growth, expanding at a CAGR of 9% in the forecast period of 2024-2032.
The major drivers of the market include the increasing incidences of ADR (adverse drug reaction) and the growing adoption of interconnected software services by several outsourcing businesses.
The increasing demand for different drugs and medicines worldwide and ongoing attempts to improve access to safe and effective drugs are expected to be the key trends guiding the growth of the industry.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Drug safety audits software, adverse event reporting software, issue tracking software, and fully integrated software are the major functionalities of the product.
On-premise delivery and on-demand/ cloud-based (SaaS) delivery are the different delivery modes of the product in the market.
Pharma and biotech companies, contract research organisations (CROs), and business process outsourcing (BPO) firms, among others are the significant end uses of the product in the market.
The major players in the industry are ArisGlobal, Ennov Solutions Inc., EXTEDO GmbH, Oracle Corporation, Sparta Systems, Inc., United BioSource Corporation, AB Cube, Others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Functionality |
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| Breakup by Mode of Delivery |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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+61-448-061-727
India
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+91-858-608-1494
Philippines
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+63-287-899-028, +63-967-048-3306
United Kingdom
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+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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