Global Pharmacovigilance And Drug Safety Software Market Research Report 2019 is created to provide the market landscape and unlimited guideline about contemporary market size, share, driving factors, trends, progressive growth, and dominant players of the Pharmacovigilance And Drug Safety Software market. The report serves overall information on the market to top manufacturers, distributors, traders, dealers. It will help them understand the product scope, market overview, market driving force, technological advancement, market risk, opportunities, and research findings.
Drug safety is also known as pharmacovigilance, is the science of detection, assessment, understanding, and prevention of side effects which allows us to understand more about the risks and benefits of a medicine. Pharmacovigilance is an important and integral part of clinical research and these days it is growing in many countries. Today many pharmacovigilance centers are working for drug safety monitoring in this global pitch.
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Some of the major players of the market are:
Ab Cube, ArisGlobal, Ennov Solutions, Inc., Extedo GmbH, Online Business Applications, Inc., Oracle Corporation, Sarjen Systems Pvt Ltd, Sparta Systems, Inc., Umbra Global LLC, United BioSource Corporation, amongst others.
Growing incidence of ADRs is the major driving factor for the growth of global pharmacovigilance and drug safety software market. ADRs cause considerable mortality and morbidity worldwide. According to research estimates, approximately 5% of all hospital admissions in Europe are caused by ADRs.
Furthermore, factors like increasing adoption of pharmacovigilance software by outsourcing companies involved in contract research and contract manufacturing, owing to the rising number of drugs on the market, and an upward trend in polypharmacy and government policies pertaining to drug safety regulation are driving the growth of global pharmacovigilance and drug safety software market.
However, lack of awareness and knowledge of pharmacovigilance and ADR reporting among healthcare professionals, lack of pharmacovigilance professionals, and lack of standard regulations in adverse drug reaction (ADR) reporting are restraining the growth of global pharmacovigilance and drug safety software market.
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Key Market Trends
Drug Safety Audits Software stood as the market leader in Global Pharmacovigilance and Drug Safety Software Market
Global pharmacovigilance and drug safety software market is segmented on the basis of functionality, mode of delivery and end users. By functionality, the pharmacovigilance and drug safety software market has been segmented into adverse event reporting software, drug safety audits software, issue tracking software, and fully integrated software.
Based on recent trends the fully integrated software category is the fastest growing category, but the market leader in the segment is drug safety audits software. Its high market share is attributed to the increasing number of contract research and manufacturing organizations, which are making extensive use of safety audits for ensuring compliance with standards set by apex drug regulatory bodies.
North America is dominating the Global Pharmacovigilance and Drug Safety Software Market
North America is dominating the pharmacovigilance and drug safety software market due to the increasing research expenditure and government initiatives. Adverse drug reactions are one of the major causes of hospitalizations and deaths in the United States, fuelling the pharmacovigilance and drug safety software market.
Furthermore, initiatives undertaken by the government are also propelling the growth of the market in the North America region. For instance, Open FDA initiative undertaken by the US government provides application developer and scientist access to its database by open search based programs which are expected to propel the market. The US has initiated another project called Mini-Sentinel to promote active surveillance system by providing relevant statistical data in less time.
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Table of Contents:
2 Pharmacovigilance And Drug Safety Software Market Research Methodology
3 Executive Summary
4 Pharmacovigilance And Drug Safety Software Market Dynamics
5 Pharmacovigilance And Drug Safety Software Market Segmentation
6 Competitive Landscape
7 Pharmacovigilance And Drug Safety Software Market Opportunities And Future Trends
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