South and Central 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.
South and Central America have witnessed a growing number of cases of COVID-19 since its outbreak. COVID-19 is predicted to result in the region's worst recession, causing the region's GDP to contract by 9.1% in 2020. This is projected to increase the number of poor by 45 million and the highly poor by 28 million. The COVID‐19 pandemic is a vital test for the still overburdened and underfunded public health systems of South and Central America.
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Market Overview and Dynamics
The pharmacovigilance and drug safety software market in South and Central America is expected to grow from US$ 7.9 million in 2019 to US$ 13.2 million by 2027; it is estimated to grow at a CAGR of 6.5% 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 South and Central 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 South and Central 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., and Oracle Corporation.
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- To understand the South and Central America pharmacovigilance and drug safety software market landscape and identify market segments that are most likely to guarantee a strong return
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- Obtain market revenue forecast for market by various segments from 2021-2028 in South and Central America region.
SOUTH AND CENTRAL 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
- South and Central America
- Brazil
- Argentina
- Rest of South and Central America
Companies Mentioned
- Veeva Systems
- IQVIA Inc.
- Oracle Corporation
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 South and Central America Pharmacovigilance and Drug Safety Software Market – By Country
2. South and Central America Pharmacovigilance and Drug Safety Software Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South and Central 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- South and Central America PEST Analysis
4.3 Expert Opinion
5. South and Central 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 Market Opportunities
5.3.1 Growth Opportunities in Developing Countries
5.4 Future Trends
5.4.1 Artificial Intelligence in Pharmacovigilance
5.5 Impact Analysis
6. Pharmacovigilance and Drug Safety Software Market – South and Central America Analysis
6.1 South and Central America Pharmacovigilance and Drug Safety Software Market Revenue Forecasts and Analysis
7. South and Central America Pharmacovigilance and Drug Safety Software Market Analysis and Forecasts To 2027 – By Software Type
7.1 Overview
7.2 Pharmacovigilance 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. South and Central 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. South and Central 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 South And Central America: Pharmacovigilance and Drug Safety Software Market
10.1.1 Overview
10.1.2 South and Central America Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Country (%)
10.1.3 Argentina Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.3.1 Argentina Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.3.2 Argentina Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Software Type (US$ Mn)
10.1.3.3 Argentina Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Delivery Mode (US$ Mn)
10.1.3.4 Argentina Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By End User (US$ Mn)
10.1.4 Brazil Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.4.1 Brazil Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.4.2 Brazil Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Software Type (US$ Mn)
10.1.4.3 Brazil Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Delivery Mode (US$ Mn)
10.1.4.4 Brazil Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By End User (US$ Mn)
10.1.5 Rest of South and Central America Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.5.1 Rest of South and Central America Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.5.2 Rest of South and Central America Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Software Type (US$ Mn)
10.1.5.3 Rest of South and Central America Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Delivery Mode (US$ Mn)
10.1.5.4 Rest of South and Central America Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By End User (US$ Mn)
11. Impact Of COVID-19 Pandemic on South and Central America Pharmacovigilance and Drug Safety Software Market
11.1 South and Central 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 Oracle Corporation
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
14. Appendix
14.1 About the Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. Argentina Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Software Type(US$ Mn)
Table 2. Argentina Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Delivery Mode (US$ Mn)
Table 3. Argentina Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By End User (US$ Mn)
Table 4. Brazil Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Software Type(US$ Mn)
Table 5. Brazil Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Delivery Mode (US$ Mn)
Table 6. Brazil Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By End User (US$ Mn)
Table 7. Rest of South and Central America Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Software Type(US$ Mn)
Table 8. Rest of South and Central America Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Delivery Mode (US$ Mn)
Table 9. Rest of South and Central America 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. South and Central 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. Brazil is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. Pharmacovigilance and Drug Safety Software Market - South and Central America PEST Analysis
Figure 7. Pharmacovigilance and Drug Safety Software Market Impact Analysis of Driver and Restraints
Figure 8. South and Central America Pharmacovigilance and Drug Safety Software Market – Revenue Forecasts and Analysis – 2019- 2027
Figure 9. Pharmacovigilance 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. South and Central America Pharmacovigilance and Drug Safety Software Market Revenue Overview, By Country, 2019 (US$ Mn)
Figure 22. South and Central America Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027, By Country (%)
Figure 23. Argentina Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 24. Brazil Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 25. Rest of South and Central America Pharmacovigilance and Drug Safety Software Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 26. Impact of COVID-19 Pandemic in South and Central America Country Markets
Figure 27. Growth Strategies in the Pharmacovigilance and Drug Safety Software Market
- Veeva Systems
- IQVIA Inc.
- Oracle Corporation
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the South and Central 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 South and Central 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 South and Central 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