Pharmacovigilance and drug safety software market is projected to witness a CAGR of 6% during the forecast period of 2018-2023|Key Players - ARISGLOBAL, ENNOV SOLUTIONS, INC., EXTEDO GMBH, AB CUBE, among others

Adverse drug reaction (ADR) refers to injuries arising from the consumption of medication. ADR may arise due to a single dose of the medication or may manifest after prolonged exposure, interaction between two or more drug substances consumed simultaneously or in quick succession. ADRs cause considerable mortality and morbidity worldwide.

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The increasing incidence of ADRs, increasing adoption of pharmacovigilance software by outsourcing companies involved in contract research and contract manufacturing, and government policies pertaining to drug safety regulation are driving the growth of this market. Drug safety audits software has high market share, it is attributed to the increasing number of contract research and manufacturing organizations, which are making extensive use of safety audits for ensuring compliance with standards set by apex drug regulatory bodies.

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Market Segments:
Pharmacovigilance and drug safety software market is segmented by:
1. Type of Simulation: Mannequin-based Simulation, Web-based Simulation
2. Type of Simulation Software: Performance Recording Software, Virtual Tutors
3. Training Service: Vendor-based Training, Custom Consulting Services, Educational Societies
4. End Users: Academic Institution, Hospitals, Military Organization
5. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• February 2018: Ennov announced that it will be exhibiting at the DIA Regulatory Submissions, Information and Document Management (RSIDM) Forum. The exhibition will showcase Ennov’s regulatory platform, which consists of Ennov Doc, Ennov Dossier, Ennov RIM, and Ennov IDMP.
• February 2018: ArisGlobal, a leading provider of integrated cloud-based software solutions for life sciences, announced two new products - LifeSphere Publishing and LifeSphere Analytics, which will integrate with LifeSphere RIMS and LifeSphere IMDP.

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