North America Pharmacovigilance and Drug Safety Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Software Type (Adverse Event Reporting Software, Drug Safety Audits Software, Issue Tracking Software, and Fully Integrated Software); Delivery Mode (On-premise, and Cloud-based); End User (Pharmaceutical and Biotech Companies, Contract Research Organizations (CROs), and Business Process Outsourcing (BPO) Firms)
Market Introduction
Pharmacovigilance (PV) plays an essential role in the healthcare system through assessment, monitoring, and finding of drug interactions and their effects in human. Pharmacovigilance helps companies to monitor any adverse drug reaction events during the trial phase and also during the post marketing period.
Thus, the globalization of pharmacovigilance are expected to create a significant demand for pharmacovigilance and drug safety software in the coming years, which is further anticipated to drive the pharmacovigilance and drug safety software market.
Since the outbreak of COVID-19, North America has been beholding a growing number of COVID-19. Several measures are being taken to restrain the disease and prevent the transmission; nevertheless, the excessive number of COVID cases has resulted in the cancellation of doctor's appointment, decreased in demand for the elective Pharmacovigilance and Drug Safety Software due to long period of lockdown. In the US, due to a growing number of contaminated patients, healthcare practitioners and leading organizations are distracting the flow of health services from research and development to primary care, which slows down the process of innovation. In addition, many health organizations namely US Food and Drug Administration (FDA) is evaluating the effects of the pandemic, and how clinical trials and pharmacovigilance programs can be handled in the coming years. This rapidly changing situation has meant that sponsors need to be more cautious and diligent in assessing the consequences of the pandemic and shifts in authority expectations in order to minimize the impact on safety reporting and to ensure patient safety. The value of demanding updated guidelines and implementing regulatory changes quickly is greater than ever as it can mitigate disruption to clinical trials. To successfully deal with a highly complex situation, a proven and comprehensive safety reporting solution may be required.
Get more information on this report :
Market Overview and Dynamics
The pharmacovigilance and drug safety software market in North America is expected to grow from US$ 73.4 million in 2019 to US$ 136.0 million by 2027; it is estimated to grow at a CAGR of 7.8% from 2020 to 2027. Artificial Intelligence (AI) promises to be a revolution for pharmacovigilance. It will help to reduce the cost of case reporting and improving data quality. This will allow experts to focus on other value adding processes including signal detection in drug safety, pharmacovigilance analytics, and benefit-risk assessment. Artificial Intelligence (AI), where in the system can analyze the source documents and pick the appropriate content and perform case intake, seriousness assessment, case processing and medical review and case monitoring basis machine learning. Monotonous and routine manual tasks such as adverse event case reporting can be automated and tackled by AI in a very sophisticated and smooth way. By utilizing AI into the adverse event case processing and letting pharmacovigilance resources to focus on strategic activities, life sciences companies will gain better outcomes. That’s because safety units can work in smarter and faster way with reliable data available at their fingertips. Thus, the development in artificial intelligence in pharmacovigilance is likely to drive the market’s growth.
Key Market Segments
In terms of software type, the adverse event reporting software segment accounted for the largest share of the North America pharmacovigilance and drug safety software market in 2019. In terms of delivery mode, the on-premise segment held a larger market share of the pharmacovigilance and drug safety software market in 2019. In terms of end user, the contract research organizations segment held a larger market share of the pharmacovigilance and drug safety software market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Pharmacovigilance and drug safety software market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Veeva Systems, IQVIA Inc., Ennov, AB Cube, United Biosource LLC, ArisGlobal LLC, Sparta Systems, Oracle Corporation, Sarjen Systems Pvt. Ltd, EXTEDO, and Online Business Applications, Inc.
Reasons to buy report
- To understand the North America pharmacovigilance and drug safety software market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America pharmacovigilance and drug safety software market
- Efficiently plan M&A and partnership deals in North America pharmacovigilance and drug safety software market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America pharmacovigilance and drug safety software market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
NORTH AMERICA PHARMACOVIGILANCE AND DRUG SAFETY SOFTWARE MARKET SEGMENTATION
By Software Type
- Fully Integrated Software
- Adverse Event Reporting Software
- Drug Safety Audits Software
- Issue Tracking Software
By Delivery Mode
- Cloud-based
- On-premise
By End User
- Contract Research Organizations
- Pharmaceutical and Biotech Companies
- Business Process Outsourcing
By Country
- North America
- US
- Canada
- Mexico
Companies Mentioned
- Veeva Systems
- IQVIA Inc.
- Ennov
- AB Cube
- United Biosource LLC
- ArisGlobal LLC
- Sparta Systems
- Oracle Corporation
- Sarjen Systems Pvt. Ltd
- EXTEDO
- Online Business Applications, Inc.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Pharmacovigilance and Drug Safety Software Market – By Software Type
1.3.2 Pharmacovigilance and Drug Safety Software Market – By Delivery Mode
1.3.3 Pharmacovigilance and Drug Safety Software Market – By End User
1.3.4 North America Pharmacovigilance and Drug Safety Software Market – By Country
2. North America Pharmacovigilance and Drug Safety Software Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Pharmacovigilance and Drug Safety Software Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Pharmacovigilance and Drug Safety Software Market- North America PEST Analysis
4.3 Expert Opinion
5. North America Pharmacovigilance and Drug Safety Software Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Incidences of Adverse Drug Reactions (ADRs)
5.1.2 Globalization of Pharmacovigilance
5.2 Market Restraints
5.2.1 Expensive Technology
5.3 Future Trends
5.3.1 Artificial Intelligence in Pharmacovigilance
5.4 Impact Analysis
6. Pharmacovigilance and Drug Safety Software Market – North America Analysis
6.1 North America Pharmacovigilance and Drug Safety Software Market Revenue Forecasts and Analysis
7. North America Pharmacovigilance and Drug Safety Software Market Analysis and Forecasts To 2027 – By Software Type
7.1 Overview
7.2 Pharmacovigilance (PV) and Drug Safety Software Market, by Software Type, 2019 & 2027 (%)
7.3 Adverse Event Reporting Software Market
7.3.1 Overview
7.3.2 Adverse Event Reporting Software Market Revenue and Forecasts to 2027 (US$ Mn)
7.4 Drug Safety Audits Software
7.4.1 Overview
7.4.2 Drug Safety Audits Software Market Revenue and Forecasts to 2027 (US$ Mn)
7.5 Issue Tracking Software
7.5.1 Overview
7.5.2 Issue Tracking Software Market Revenue and Forecasts to 2027 (US$ Mn)
7.6 Fully Integrated Software
7.6.1 Overview
7.6.2 Fully Integrated Software Market Revenue and Forecasts to 2027 (US$ Mn)
8. North America Pharmacovigilance and Drug Safety Software Market Analysis and Forecasts To 2027 – By Delivery Mode
8.1 Overview
8.2 Pharmacovigilance (PV) and Drug Safety Software Market, By Delivery Mode 2019 & 2027 (%)
8.3 On-premise
8.3.1 Overview
8.3.2 On-premise Market Revenue and Forecasts to 2027 (US$ Mn)
8.4 Cloud- Based
8.4.1 Overview
8.4.2 Cloud Based Market Revenue and Forecasts to 2027 (US$ Mn)
9. North America Pharmacovigilance and Drug Safety Software Market Analysis and Forecasts to 2027– By End User
9.1 Overview
9.2 Pharmacovigilance (PV) and Drug Safety Software Market, By End User, 2019 & 2027 (%)
9.3 Pharmaceutical and Biotech Companies Market
9.3.1 Overview
9.3.2 Pharmaceutical and Biotech Companies Market Revenue and Forecasts to 2027 (US$ Mn)
9.4 Contract Research Organizations (CROs) Market
9.4.1 Overview
9.4.2 Contract Research Organizations (CROs) Market Revenue and Forecasts to 2027 (US$ Mn)
9.5 Business Process Outsourcing (BPO) Firms Market
9.5.1 Overview
9.5.2 Business Process Outsourcing (BPO) Firms Market Revenue and Forecasts to 2027 (US$ Mn)
10. Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 – Geographical Analysis
10.1 North America: Pharmacovigilance and Drug Safety Software Market
10.1.1 Overview
10.1.2 North America Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Country (%)
10.1.3 US Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.3.1 US Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.3.2 US Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Software Type (US$ Mn)
10.1.3.3 US Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Delivery Mode (US$ Mn)
10.1.3.4 US Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By End User (US$ Mn)
10.1.4 Canada Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.4.1 Canada Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.4.2 Canada Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Software Type (US$ Mn)
10.1.4.3 Canada Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Delivery Mode (US$ Mn)
10.1.4.4 Canada Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By End User (US$ Mn)
10.1.5 Mexico Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.5.1 Mexico Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.5.2 Mexico Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Software Type (US$ Mn)
10.1.5.3 Mexico Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Delivery Mode (US$ Mn)
10.1.5.4 Mexico Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By End User (US$ Mn)
11. Impact Of COVID-19 Pandemic on North America Pharmacovigilance and Drug Safety Software Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Growth Strategies in the Pharmacovigilance and Drug Safety Software Market
12.3 Organic Developments
12.3.1 Overview
12.3.2 Organic Developments Done by Companies
12.4 Inorganic Developments
12.4.1 Overview
12.4.2 Inorganic Growth Strategies by Companies
13. COMPANY PROFILES
13.1 Veeva Systems
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 IQVIA Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Ennov
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 AB Cube
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 United Biosource LLC
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 ArisGlobal LLC
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Sparta Systems
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Oracle Corporation
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Sarjen Systems Pvt. Ltd
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 EXTEDO
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
13.11 Online Business Applications, Inc.
13.11.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
14. Appendix
14.1 About the Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. US Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Software Type(US$ Mn)
Table 2. US Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Delivery Mode (US$ Mn)
Table 3. US Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By End User (US$ Mn)
Table 4. Canada Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Software Type(US$ Mn)
Table 5. Canada Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Delivery Mode (US$ Mn)
Table 6. Canada Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By End User (US$ Mn)
Table 7. Mexico Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Software Type(US$ Mn)
Table 8. Mexico Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Delivery Mode (US$ Mn)
Table 9. Mexico Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By End User (US$ Mn)
Table 10. Organic Developments Done by Companies
Table 11. Recent Inorganic Growth Strategies by the Companies
Table 12. Glossary of Terms, Pharmacovigilance and Drug Safety Software Market
LIST OF FIGURES
Figure 1. Pharmacovigilance and Drug Safety Software Market Segmentation
Figure 2. North America Pharmacovigilance and Drug Safety Software Market Overview
Figure 3. Adverse Event Reporting Software Segment Held Largest Share of Software Type in Pharmacovigilance and Drug Safety Software Market
Figure 4. Contract Research Organizations Segment Held Largest Share of End User in Pharmacovigilance and Drug Safety Software Market
Figure 5. US is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. Pharmacovigilance and Drug Safety Software Market - North America PEST Analysis
Figure 7. Pharmacovigilance and Drug Safety Software Market Impact Analysis of Driver and Restraints
Figure 8. North America Pharmacovigilance and Drug Safety Software Market – Revenue Forecasts and Analysis – 2019- 2027
Figure 9. Pharmacovigilance (PV) and Drug Safety Software Market, by Software Type, 2019 & 2027 (%)
Figure 10. Adverse Event Reporting Software Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 11. Drug Safety Audits Software Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 12. Issue Tracking Software Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 13. Fully Integrated Software Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 14. Pharmacovigilance (PV) and Drug Safety Software Market, by Delivery Mode 2019 & 2027 (%)
Figure 15. On-premise Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 16. Cloud Based Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 17. Pharmacovigilance (PV) and Drug Safety Software Market, by End User, 2019 & 2027 (%)
Figure 18. Pharmaceutical and Biotech Companies Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 19. Contract Research Organizations (CROs) Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 20. Business Process Outsourcing (BPO) Firms Revenue and Forecasts to 2027 (US$ Mn)
Figure 21. North America Pharmacovigilance and Drug Safety Software Market Revenue Overview, By Country, 2019 (US$ Mn)
Figure 22. North America Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Country (%)
Figure 23. US Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 24. Canada Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 25. Mexico Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 26. Impact of COVID-19 Pandemic in North American Country Markets
Figure 27. Growth Strategies in the Pharmacovigilance and Drug Safety Software Market
- Veeva Systems
- IQVIA Inc.
- Ennov
- AB Cube
- United Biosource LLC
- ArisGlobal LLC
- Sparta Systems
- Oracle Corporation
- Sarjen Systems Pvt. Ltd
- EXTEDO
- Online Business Applications, Inc.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America pharmacovigilance and drug safety software market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America pharmacovigilance and drug safety software market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the pharmacovigilance and drug safety software market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution