Global Pharmacovigilance and Drug Safety Software Market 2022-2026

Global Pharmacovigilance and Drug Safety Software Market 2022-2026

Technavio has been monitoring the pharmacovigilance and drug safety software market and it is poised to grow by $ 72.74 mn during 2022-2026, accelerating at a CAGR of 7.11% during the forecast period. Our report on the pharmacovigilance and drug safety software market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by rising incidence rates of adverse drug events, favorable government regulations and policies, and increasing approvals of new molecules and biosimilars.

The pharmacovigilance and drug safety software market analysis includes the end-user segment and geographic landscape.

Technavio's pharmacovigilance and drug safety software market is segmented as below:

By End-user

• Pharmaceutical and biotechnology companies
• Contract research organization
• Business process outsourcing

By Geographical Landscape

• North America
• Europe
• Asia
• Rest of World (ROW)

This study identifies the integration of AI in pharmacovigilance as one of the prime reasons driving the pharmacovigilance and drug safety software market growth during the next few years. Also, outsourcing pharmacovigilance and drug safety research to CROs and extensive adoption of cloud technologies in pharmaceutical manufacturing and testing will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on pharmacovigilance and drug safety software market covers the following areas:

• Pharmacovigilance and drug safety software market sizing
• Pharmacovigilance and drug safety software market forecast
• Pharmacovigilance and drug safety software market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading pharmacovigilance and drug safety software market vendors that include 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. Also, the pharmacovigilance and drug safety software market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.