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USD 72.74 Mn growth opportunity in Pharmacovigilance and Drug Safety Software Market -- Driven by rising incidence rates of adverse drug events
[August 10, 2022]

USD 72.74 Mn growth opportunity in Pharmacovigilance and Drug Safety Software Market -- Driven by rising incidence rates of adverse drug events


NEW YORK, Aug. 10, 2022 /PRNewswire/ -- The "Pharmacovigilance and Drug Safety Software Market by End-user and Geography - Forecast and Analysis 2022-2026" report by Technavio expects the market size to increase by USD 72.74 million between 2021 and 2026, expanding at a CAGR of 7.11% during the forecast period. The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies. Download Sample Report Here

 

The market is analyzed across the following segments:

  • End-user - Pharmaceutical and biotechnology companies, Contract research organizations, and Business process outsourcing
  • Geography - North America, Europe, Asia, and Rest of World (ROW)

By end-user, the pharmaceutical industry exhibited high demand for pharmacovigilance and drug safety software in 2021. The software is used by pharmaceutical and biotechnology companies to ensure the safety of patients and products through pre-market and post-market monitoring as well as the study and identification of previously unrecognized adverse drug reactions and events. In addition, the increasing number of clinical trials and the growth in pharmaceutical spending has been crucial in driving the growth of the segment.

In terms of region, North America will emerge as the key market for pharmacovigilance and drug safety software over the forecast period. The growth of the regional market can be attributed to the increased focus on the development of cost-effective and advanced cloud-based solutions by vendors operating in North America. In addition, the increase in the number of product recalls has created a rising demand for drug safety testing, further driving the demand for pharmacovigilance and drug safety software in the region.

Key Market Dynamics:
  • Market Driver
  • Market Challenges

The rising incidence rates of adverse drug events and favorable government regulations and policies are some of the key market drivers. However, factors such as the high cost of ownership, installation, and maintenance will challenge market growth.

The report offers detailed insights into the contribution of all the segments, regional growth opportunities, and the factors impacting the growth of the market in focus. View Sample Report Now

Vendor Landscape:

The global pharmacovigilance and drug safety software market is fragmented. The market is facing intense competition, which is creating pricing pressure on various global and local players. These players are focusing on software innovations and are increasing existing software capabilities to expand their presence and share in the market.

The leading vendors are focusing on inorganic growth strategies by acquiring small and local players to broaden their software portfolio and expand to emerging markets. They are also investing in R&D to enhance and upgrade their existing product portfolio and introduce innovative software with advanced technological features to have a competitive edge. The competition is expected to increase during the forecast period due to the entry of many new small and large players in the market. Technavio identifies the following as the dominant players in the market.

  • AB Cube SARL
  • Accenture Plc
  • Advera Health Analytics Inc.
  • ArisGlobal LLC
  • BaseCon AS
  • Clarivate PLC
  • Cognizant Technology Solutions Corp.
  • Ennov
  • EXTEDO GmbH
  • Honeywell International Inc.
  • Indegene Pvt. Ltd.
  • IQVIA Holdings Inc.
  • Max Application Srl
  • Oracle Corp.
  • Pegasystems Inc.
  • Sarjen Systems Pvt. Ltd.
  • United BioSource LLC
  • Veeva Systems Inc.
  • Wipro Ltd.

Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request Sample Report Now

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Pharmacovigilance and Drug Safety Software Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.11%

Market growth 2022-2026

USD 72.74 million

Market structure

Fragmented

YoY growth (%)

6.7

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 50%

Key consumer countries

US, Germany, France, Japan, and China

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

AB Cube SARL, Accenture Plc, Advera Health Analytics Inc., ArisGlobal LLC, BaseCon AS, Clarivate PLC, Cognizant Technology Solutions Corp., Ennov, EXTEDO GmbH, Honeywell International Inc., Indegene Pvt. Ltd., IQVIA Holdings Inc., Max Application Srl, Oracle Corp., Pegasystems Inc., Sarjen Systems Pvt. Ltd., United BioSource LLC, Veeva Systems Inc., and Wipro Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.


Table of Contents:

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

  • 5.1 Market segments
    • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
  • 5.2 Comparison by End-user
    • Exhibit 26: Chart on Comparison by End-user
    • Exhibit 27: Data Table on Comparison by End-user
  • 5.3 Pharmaceutical and biotechnology companies - Market size and forecast 2021-2026
    • Exhibit 28: Chart on Pharmaceutical and biotechnology companies - Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Pharmaceutical and biotechnology companies - Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Pharmaceutical and biotechnology companies - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Pharmaceutical and biotechnology companies - Year-over-year growth 2021-2026 (%)
  • 5.4 Contract research organization - Market size and forecast 2021-2026
    • Exhibit 32: Chart on Contract research organization - Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Contract research organization - Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Contract research organization - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Contract research organization - Year-over-year growth 2021-2026 (%)
  • 5.5 Business process outsourcing - Market size and forecast 2021-2026
    • Exhibit 36: Chart on Business process outsourcing - Market size and forecast 2021-2026 ($ million)
    • Exhibit 37: Data Table on Business process outsourcing - Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Chart on Business process outsourcing - Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on Business process outsourcing - Year-over-year growth 2021-2026 (%)
  • 5.6 Market opportunity by End-user
    • Exhibit 40: Market opportunity by End-user ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 44: Chart on Geographic comparison
    • Exhibit 45: Data Table on Geographic comparison
  • 7.3 North America - Market size and forecast 2021-2026
    • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.4 Europe - Market size and forecast 2021-2026
    • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.5 Asia - Market size and forecast 2021-2026
    • Exhibit 54: Chart on Asia - Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on Asia - Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on Asia - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on Asia - Year-over-year growth 2021-2026 (%)
  • 7.6 Rest of World (ROW) - Market size and forecast 2021-2026
    • Exhibit 58: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
  • 7.7 US - Market size and forecast 2021-2026
    • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.8 France - Market size and forecast 2021-2026
    • Exhibit 66: Chart on France - Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on France - Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on France - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on France - Year-over-year growth 2021-2026 (%)
  • 7.9 Germany - Market size and forecast 2021-2026
    • Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 7.10 Japan - Market size and forecast 2021-2026
    • Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)
  • 7.11 China - Market size and forecast 2021-2026
    • Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
  • 7.12 Market opportunity by geography
    • Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 85: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 86: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 87: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 88: Matrix on vendor position and classification
  • 10.3 AB Cube SARL
    • Exhibit 89: AB Cube SARL - Overview
    • Exhibit 90: AB Cube SARL - Product / Service
    • Exhibit 91: AB Cube SARL - Key offerings
  • 10.4 ArisGlobal LLC
    • Exhibit 92: ArisGlobal LLC - Overview
    • Exhibit 93: ArisGlobal LLC - Product / Service
    • Exhibit 94: ArisGlobal LLC - Key offerings
  • 10.5 BaseCon AS
    • Exhibit 95: BaseCon AS - Overview
    • Exhibit 96: BaseCon AS - Product / Service
    • Exhibit 97: BaseCon AS - Key offerings
  • 10.6 Ennov
    • Exhibit 98: Ennov - Overview
    • Exhibit 99: Ennov - Product / Service
    • Exhibit 100: Ennov - Key news
    • Exhibit 101: Ennov - Key offerings
  • 10.7 EXTEDO GmbH
    • Exhibit 102: EXTEDO GmbH - Overview
    • Exhibit 103: EXTEDO GmbH - Product / Service
    • Exhibit 104: EXTEDO GmbH - Key news
    • Exhibit 105: EXTEDO GmbH - Key offerings
  • 10.8 Honeywell International Inc.
    • Exhibit 106: Honeywell International Inc. - Overview
    • Exhibit 107: Honeywell International Inc. - Business segments
    • Exhibit 108: Honeywell International Inc. - Key news
    • Exhibit 109: Honeywell International Inc. - Key offerings
    • Exhibit 110: Honeywell International Inc. - Segment focus
  • 10.9 Indegene Pvt. Ltd.
    • Exhibit 111: Indegene Pvt. Ltd. - Overview
    • Exhibit 112: Indegene Pvt. Ltd. - Product / Service
    • Exhibit 113: Indegene Pvt. Ltd. - Key news
    • Exhibit 114: Indegene Pvt. Ltd. - Key offerings
  • 10.10 Oracle Corp.
    • Exhibit 115: Oracle Corp. - Overview
    • Exhibit 116: Oracle Corp. - Business segments
    • Exhibit 117: Oracle Corp. - Key news
    • Exhibit 118: Oracle Corp. - Key offerings
    • Exhibit 119: Oracle Corp. - Segment focus
  • 10.11 Sarjen Systems Pvt. Ltd.
    • Exhibit 120: Sarjen Systems Pvt. Ltd. - Overview
    • Exhibit 121: Sarjen Systems Pvt. Ltd. - Product / Service
    • Exhibit 122: Sarjen Systems Pvt. Ltd. - Key offerings
  • 10.12 United BioSource LLC
    • Exhibit 123: United BioSource LLC - Overview
    • Exhibit 124: United BioSource LLC - Product / Service
    • Exhibit 125: United BioSource LLC - Key offerings

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 126: Inclusions checklist
    • Exhibit 127: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 128: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 129: Research methodology
    • Exhibit 130: Validation techniques employed for market sizing
    • Exhibit 131: Information sources
  • 11.5 List of abbreviations
    • Exhibit 132: List of abbreviations
About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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