Asia-Pacific Drug Safety Solutions and Pharmacovigilance Market would rocket up to USD 2,615.51 million by 2030

The growing prevalence of adverse drug reactions (ADRs) is primary factor responsible for driving the growth of the drug safety solutions and pharmacovigilance market. Additionally, the increasing adoption of pharmacovigilance software by outsourcing companies and strict government regulations for prior and post commercialization of drugs also heightens the overall growth of the market.

Data Bridge Market Research analyses that the Asia-Pacific drug safety solutions and pharmacovigilance market which was USD 1,220.34 million in 2022, would rocket up to USD 2,615.51 million by 2030, and is expected to undergo a CAGR of 8.1% during the forecast period. This indicates that the market value. "Software" dominates the types segment of the Drug Safety Solutions and Pharmacovigilance market owing to the high demand for these products in the market. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Market Definition

Drug safety solutions and pharmacovigilance (PV or PHV), is basically a scientific procedure for the collection, analysis, monitoring and prevention of adverse effects in drugs and therapies. Its major purpose is to ensure that the pharmaceutical developers meet industry regulatory standards and increases the pressure on the biotechnology and pharmaceutical companies to manufacture safe drugs and evaluate their results post sales.

Recent Development

In October 2022, PegBio selected LifeSphere MultiVigilance, a flagship product by ArisGlobal, to transition their pharmacovigilance from Contract Research Organization (CRO) services to in-house practices with this leading pharmacovigilance software.
In July 2022, Dotmatics launched its Small Molecule Drug Discovery Solution, an integrated scientific R&D platform with pre-configured workflows and expanded data management capabilities.

Asia-Pacific Drug Safety Solutions and Pharmacovigilance Market Scope
The Drug Safety Solutions and Pharmacovigilance market is segmented on the basis of type, product, functionality, delivery, end users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Software
Services
Product

Standard Form
Customized Form
Functionality

Adverse Event Reporting Software
Drug Safety Audits Software
Issue Tracking Software
Delivery

On-Premise Delivery Mode
On-Demand/Cloud-Based (SAAS) Delivery Mode
End Users

Biotechnology and Pharmaceuticals
Contract Research Organizations (CROS)
Hospitals
KPOs/BPOs
Healthcare Providers
Distribution Channel

Direct Sales
Retail Sales

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Competitive Landscape and Asia-Pacific Drug Safety Solutions and Pharmacovigilance Market Share Analysis
The Drug Safety Solutions and Pharmacovigilance market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Drug Safety Solutions and Pharmacovigilance market.

Some of the major players operating in the Drug Safety Solutions and Pharmacovigilance market are:

IQVIA (U.S)
PPD Inc. (U.S.)
Covance (U.S.)
DeRoyal Parexel (U.S.)
ICON plc. (Ireland)
Clinipace (U.S.)
Novotech (Australia)
BioClinica (U.S.)
Synowledge (U.S.)
MakroCare (U.S.)
Sciformix (U.S.)
Quanticate (U.K.)
Tergus Pharma (U.S.)
Veeda Clinical Research (India)
SIRO Clinpharm (India)

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