Global Pharmaceutical Compliance Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Pharmaceutical Compliance Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Pharmaceutical Compliance Software market finds that the global Pharmaceutical Compliance Software market reached a value of USD 347.54 million in 2022. It’s expected that the market will achieve USD 612.68 million by 2028, exhibiting a CAGR of 9.91% during the forecast period.

Market Restraints

Although digital technology is expected to improve efficiency and quality, the adoption of compliance by many pharmaceutical companies is still in its infancy. Even if they are used, the degree and type of technology adoption are different.

Some companies use complex algorithms such as natural language processing (NLP) to create policy applications, and mine texts in e-mails to look for potential red flags. Most companies have built reports and dashboards, but these tools can't fully solve all the analysis needs in daily compliance operations. For many other tasks, compliance professionals rely on common software such as Microsoft Suite (Word, PowerPoint, SharePoint, Excel).

Some people refuse to use Pharmaceutical Compliance Software because they think that constantly inputting, updating and maintaining information in the system will increase their workload. Therefore, how to increase intelligent applications such as speech recognition has become an important topic of Pharmaceutical Compliance Software. In addition, information interconnection, one-stop satisfaction of upstream and downstream interaction, and convenient connection with other pharmaceutical service software are several ways to improve software usability.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Wolters Kluwer is one of the major players operating in the Pharmaceutical Compliance Software market, holding a share of 8.87% in 2022.

Wolters Kluwer is a global provider of professional information, software solutions, and services for clinicians, accountants, lawyers, and tax, finance, audit, risk, compliance, and regulatory sectors. The company was founded by Jan-Berend Wolters and Æbele Everts Kluwer in 1836 and is headquartered in Alphen aan den Rijn, the Netherlands.

ACUTA, an IQVIA Company, was founded in Nov 2012 as a technology company, providing Regulatory Information Management (RIM) solutions and services to the Life Sciences and related industry. ACUTA is focused on three strategic lines of business that include Integrated Regulatory Solutions, Business Process Consulting and Technology.

IQVIA is a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry. IQVIA creates intelligent connections across all aspects of healthcare through its analytics, transformative technology, big data resources and extensive domain expertise. IQVIA Connected Intelligence™ delivers powerful insights with speed and agility — enabling customers to accelerate the clinical development and commercialization of innovative medical treatments that improve healthcare outcomes for patients.

IQVIA is a global leader in protecting individual patient privacy. The company uses a wide variety of privacy-enhancing technologies and safeguards to protect individual privacy while generating and analyzing information on a scale that helps healthcare stakeholders identify disease patterns and correlate with the precise treatment path and therapy needed for better outcomes. IQVIA’s insights and execution capabilities help biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviors and scientific advances, in an effort to advance their path toward cures.

Segmentation Overview:

Among different product types, Cloud-Based Pharmaceutical Compliance Software segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Product Information Management segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Pharmaceutical Compliance Software market covered in Chapter 3:

LogicGate
Sparta Systems
Wolters Kluwer
Bwise
Qordata
Ideagen
MasterControl
ACUTA
Lachman Consultant Services
Intagras

In Chapter 4 and Chapter 14.2, on the basis of types, the Pharmaceutical Compliance Software market from 2018 to 2029 is primarily split into:

Cloud-Based Pharmaceutical Compliance Software
On-Premise Pharmaceutical Compliance Software

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Pharmaceutical Compliance Software market from 2018 to 2029 covers:

Product Information Management
Pharmaceutical Electronic Registration

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)