PV and drug safety software solutions are accessible anywhere and at any time thanks to growing Internet penetration. Increasing globalization in pharmacovigilance with widespread availability of the Internet is expected to boost usage rates. In addition, a growing health information functionality market will strengthen the usage of PV software over the forecast period, as it improves patient health and reduces medical expenditures.
Market Snapshot
This report categorizes the market with various types, applications, companies, and regions. It focuses on the present scenario and the future growth of the global Pharmacovigilance (Pv) Software market, especially in regions like North America, Asia-Pacific, Europe, South America, Middle East and Africa.
The global Pharmacovigilance (Pv) Software market is expected to grow from USD xxxx million in 2019 to USD xxxx million by 2026, registering a CAGR of xxxx% from 2019 to 2026.
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Competitive Landscape
Oracle Corporation
ArisGlobal
AB Cube
Max Delivery
Relsys
Sparta Systems, Inc.
United BioSource Corporation
EXTEDO GmbH
Ennov Solutions, Inc.
Growth Driver
The market growth is mainly attributed to the increasing number of adverse drug reactions (ADR). Furthermore, the growing awareness for personal healthcare, the increasing internet penetration, and favorable government regulations are factors that stroking market growth. Besides, the increasing income, further development of urbanization, and continuous technology advancement are also help the Pharmacovigilance (Pv) Software market to gain size. However, lack of awareness about the benefits of Pharmacovigilance (Pv) Software is considered as a restraint factor for market growth.
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Regional Overview
North America is the leading market and expected to maintain the dominance during the forecast period. This is because the favorable government supports and high penetration of advanced technology. The Asia Pacific is anticipated to witness a tremendous growth during the predicted period. This is because of companies in Asia Pacific provide substantial cost saving advantages. Furthermore, increasing number of adverse drug reactions, rising awareness about public safety, and stringent governmental regulations are some factors expected to drive market growth.
Type Overview
By product type, the Pharmacovigilance (Pv) Software market is segmented into On-premise and On-demand.
On-premise software accounted for the largest revenue share in the pharmacovigilance software market owing to increasing adoption by large pharmaceutical companies.
Application Overview
Based on application, this market is divided into Pharma & Biotech Companies, CROs, BPOs, and Others.
PV software solutions are widely accepted by pharma and biotech companies to facilitate clinical trial programs and reduce the burden on medical expenditure. PV outsourcing is a growing trend in the pharmaceutical industry and as a result, manufacturers are striving to identify various ways to contain costs and minimize operational expenses by gradually shifting from being fully-integrated pharmaceutical companies to sharing costs through collaborations with service providers. This is expected to strengthen the growth of contract research firms that perform these activities for pharmaceutical companies.
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Target Audience:
• Pharmacovigilance (Pv) Software manufacturers
• Raw material suppliers of Pharmacovigilance (Pv) Software
• Distributors and resellers of Pharmacovigilance (Pv) Software
• Pharmacovigilance (Pv) Software industry associations
• Product managers, Pharmacovigilance (Pv) Software industry administrator, C-level executives of the industries
• Market Research and consulting firms
• Healthcare Organization
• Base Year: 2018
• Estimated Year: 2019
• Forecast Period: 2019 to 2026
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