DUBLIN--(BUSINESS WIRE)--The "Global Pharmacovigilance and Drug Safety Software Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
Increasing approvals for new molecules and biosimilars
New molecules and biosimilars undergo drug safety assessments before their launch in the market. This is to ensure that the drugs comply with safety standards as per regulations.
This rise in approval of new molecular entities and biosimilars as well as registered activities of clinical trials globally has resulted in a surge in the adoption of pharmacovigilance and drug safety software which will subsequently lead to the expansion of the global pharmacovigilance and drug safety software market at a CAGR of close to 7% during the forecast period.
Market Segmentation, Drivers and Restraints
This pharmacovigilance and drug safety software market analysis considers sales from end-users pharmaceutical and biotechnology companies, contract research organization, and business process outsourcing. The analysis also considers the sales of pharmacovigilance and drug safety software in APAC, Europe, North America, and RoW.
In 2018, the pharmaceutical and biotechnology companies segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the release of new drugs in countries such as the US, Japan, and Canada will play a significant role in the pharmaceutical and biotechnology companies segment to maintain its market position.
Also, the market report looks at factors such as rising incidence rates of adverse drug events, favorable government regulations and policies, and increasing approvals for new molecules and biosimilars.
However, high cost of ownership, installation, and maintenance, concerns related to data safety and security, and issues related to system integration may hamper the growth of the pharmacovigilance and drug safety software industry over the forecast period.
Outsourcing pharmacovigilance and drug safety research to CROs
To reduce the operational costs and provide revenue-generating opportunities to the vendors, pharmacovigilance, and drug safety operations are being outsourced to developing economies such as India, China, and the Philippines. This trend is expected to have a positive impact on the overall market growth.
With the presence of a few major players, the global pharmacovigilance and drug safety software market is moderately concentrated. This 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 manufacturers that includes: AB Cube, ArisGlobal, Ennov, EXTEDO, and Oracle Corp.
Also, the pharmacovigilance and drug safety software market analysis report include information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Key Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY END-USER
- Comparison by end-user
- Pharmaceutical and biotechnology companies
- Market size and forecast 2018-2023
- Contract research organization - Market size and forecast 2018-2023
- Business process outsourcing - Market size and forecast 2018-2023
- Market opportunity by end-user
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic comparison
- North America - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- Asia - Market size and forecast 2018-2023
- RoW - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
- Integration of AI in pharmacovigilance
- Outsourcing pharmacovigilance and drug safety research to CROs
- Extensive adoption of cloud technologies in pharmaceutical manufacturing and testing
PART 12: VENDOR LANDSCAPE
- Landscape disruption
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- AB Cube
- ArisGlobal LLC
- EXTEDO GmbH
- Oracle Corp.
For more information about this report visit https://www.researchandmarkets.com/r/8pujc