The Global Pharmacovigilance and Drug Safety Software Market is Poised to reach the Value of $154.1 Million in 2019 - Report by MarketsandMarkets

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Pharmacovigilance (PV) software comprises drug safety management software solution that enables to create, classify, review, submit and maintain pharmacovigilance data and adverse event reports. http://www.marketsandmarkets.com/Market-Reports/drug-safety-pharmacovigilance-software-market-16831714.html

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Key Players are ArisGlobal (U.S.), Ennov Solutions Inc. (U.S.), EXTEDO GmbH (U.S.), Online Business Applications, Inc. (U.S.), Oracle Corporation (U.S.), Sarjen Systems Pvt. Ltd (India), Sparta Systems, Inc. (U.S.) and United BioSource Corporation (U.S.)

This report studies the global pharmacovigilance and drug safety software market over the forecast period of 2014 to 2019. This market is expected to grow at a CAGR of 6.5% from 2014 to 2019.

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In this report, the global pharmacovigilance and drug safety software market has been classified into many segments on the basis of functionality, namely, adverse event reporting software, drug safety audits software, issue tracking software and fully integrated software. The global pharmacovigilance and drug safety software market is divided into two segments on the basis of delivery mode, namely, on-premise delivery mode and on-demand/cloud based (SaaS) delivery mode. The global pharmacovigilance and drug safety software market is also segmented on the basis of end users including pharma and biotech companies, contract research organizations (CROs), business process outsourcing (BPO) firms and other pharmacovigilance service providers.

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Factors such as rising incidence rates of adverse drug reactions (ADRs) and increasing adoption of pharmacovigilance software by outsourcing companies are driving the growth of the global pharmacovigilance and drug safety software market. In addition; government regulatory bodies (such as the U.S. FDA and EMEA) have intensified safety regulations for prior and post commercialization of drugs, which has increased pressure on the pharmaceutical and biotechnology companies to manufacture safe drugs and evaluate their results post sales. Thus, growing complexity related to drug safety regulations is expected to drive the growth of the market during the forecast period.

As of 2014, North America holds the largest share of the global pharmacovigilance and drug safety software market, followed by Europe. However, Asian and Latin American countries represent high growth markets, owing to a rise in research outsourcing by pharmaceutical giants and growing public and private investments in pharmaceutical R&D in these emerging nations.

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