Pharmacovigilance and Drug Safety Software Market to be Worth US$ 262.02 Mn in 2027

Contract research organizations (CRO) segment is expected to grow the market for pharmacovigilance and drug safety market over the forecast period for end user segment.

According to The Insight Partners market research study titled 'Pharmacovigilance (PV) And Drug Safety Software Market to 2027 - Global Analysis and Forecasts by Software type, Delivery mode and End User'. The global pharmacovigilance (PV) and drug safety software market is expected to reach US$ 262.02 Mn in 2027 from US$ 151.07 Mn in 2018. The market is estimated to grow with a CAGR of 6.4% from 2019-2027. The report highlights the trends prevalent in the global pharmacovigilance (PV) and drug safety software market and the factors driving the market along with those that act as deterrents to its growth.

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Global pharmacovigilance (PV) and drug safety software market, based on the end user, was segmented as, contract research organizations (CROs), pharmaceutical and biotech companies, business process outsourcing firms and in 2018, contract research organizations (CROs) held the largest share of the market, by end user. In addition, the segment is also anticipated to grow at a significant rate during the forecast period. Increase in pharmacovigilance outsourcing activities by pharmaceutical companies, these factors are anticipated to lead to the growth of the segment during the forecast period.

The market for pharmacovigilance (PV) and drug safety software is expected to grow, owing to factors such as extensive regulatory drug requirements, rising adverse drug reaction events have generated the demand for sophisticated pharmacovigilance software. All these factors are likely to have a positive impact on the growth of the market in the coming years.

The major players operating in the pharmacovigilance (PV) and drug safety software market include, ARISGLOBAL LLC, Ennov AB Cube, United BioSource LLC, Sparta Systems, Inc., Oracle Corporation, Sarjen Systems Pvt. Ltd., EXTEDO, Max Application and Anju Software, Inc. among others. The market has witnessed various organic as well as inorganic developments during recent years in the pharmacovigilance (PV) and drug safety software market. During March 2019, EXTEDO started its partnership with COMIX Middle East FZC. COMIX is a Dubai based consulting firm with a primary focus in supporting its clients for accessing the healthcare discipline in the UAE & the Middle East.

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The report segments the Global pharmacovigilance (PV) and drug safety software market as follows:

Global Pharmacovigilance (PV) And Drug Safety Software Market - By Software Type

Fully Integrated Software
Adverse Event Reporting Software
Drug Safety Audits Software
Issue Tracking Software

Global Pharmacovigilance (PV) And Drug Safety Software Market - By Delivery Mode

Cloud-based
On-premise

Global Pharmacovigilance (PV) and Drug Safety Software Market - By End User

Contract Research Organizations
Pharmaceutical and Biotech Companies
Business Process Outsourcing

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