Asia Pacific Pharmacovigilance and Drug Safety Software Market

Historic Data: 2017-2018   |   Base Year: 2019   |   Forecast Period: 2020-2027

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)


No. of Pages: 129    |    Report Code: TIPRE00022770    |    Category: Technology, Media and Telecommunications

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Asia Pacific Pharmacovigilance and Drug Safety Software Market
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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.

Countries in Asia-Pacific are expecting to witness huge challenge due to growing COVID-19. Considering the economic operations and geographic condition, the outbreak of disease has affected on medical tourism, manufacturer of medical equipment, laser systems, accessories and other problems posed by shortage of healthcare infrastructure in Asia-Pacific low-income countries. After the first case in December in Wuhan, China, the coronavirus has spread to at least 180 countries and regions. To prevent the spread of disease, restrictive measures have been taken in countries such as India, South Korea, Singapore, Malaysia, and by the Philippines. According to WHO, due to the rapidly changing risk of COVID-19 affected countries and constantly controlling outbreak trends, any additional health measures are likely to significantly interfere with international travel and trade. There is vast variation in the reporting standards across the Asia Pacific. While some countries have adopted electronic reporting, many organizations still use conventional methods of courier or hand delivery for paper reporting or electronic reporting via compact disc. Currently, electronic reporting and email submissions are compatible with COVID-19. However, all methods require efficient communication between pharmacovigilance teams, local legal representative, courier support and teams dispersed across various geographical locations, for example portal entry in the local language.

 


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Asia Pacific Pharmacovigilance and Drug Safety Software Strategic Insights

Strategic insights for the Asia Pacific Pharmacovigilance and Drug Safety Software provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

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Asia Pacific Pharmacovigilance and Drug Safety Software Report Scope

Report Attribute Details
Market size in 2019 US$ 32.8 Million
Market Size by 2027 US$ 62.7 Million
Global CAGR (2020 - 2027) 8.2%
Historical Data 2017-2018
Forecast period 2020-2027
Segments Covered By Software Type
  • Adverse Event Reporting Software
  • Drug Safety Audits Software
  • Issue Tracking Software
  • Fully Integrated Software
By Delivery Mode
  • On-premise
  • Cloud-based
By End User
  • Pharmaceutical and Biotech Companies
  • Contract Research Organizations
Regions and Countries Covered Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
Market leaders and key company profiles
  • Veeva Systems
  • IQVIA Inc.
  • AB Cube
  • ArisGlobal LLC
  • Sparta Systems
  • Oracle Corporation
  • Sarjen Systems Pvt. Ltd
  • EXTEDO
  • Online Business Applications, Inc.
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    Asia Pacific Pharmacovigilance and Drug Safety Software Regional Insights

    The geographic scope of the Asia Pacific Pharmacovigilance and Drug Safety Software refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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    Market Overview and Dynamics

    The pharmacovigilance and drug safety software market in Asia Pacific is expected to grow from US$ 32.8 million in 2019 to US$ 62.7 million by 2027; it is estimated to grow at a CAGR of 8.2% from 2020 to 2027. Adverse drug reactions (ADRs) is an important public health problem, signifying a significant cause of illness and death. Because all drugs have the potential for adverse drug reactions, a risk-benefit analysis is necessary whenever a drug is prescribed. ADR reported by a patient or healthcare professional adds to safety monitoring and thus to the safe and effective use of medicines. The increasing amount of data generated through adverse drug reaction report need to be handled and stored carefully. All these data come in different forms, language, location, etc. To arrange these uniformly the automation systems/software are helpful. Thus, the rising incidences of adverse drug reactions (ADRs) are 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 Asia Pacific 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 Asia Pacific 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

    .,

    AB Cube,

    ArisGlobal LLC

    ,

    Sparta Systems

    ,

    Oracle Corporation

    ,

    Sarjen Systems Pvt. Ltd

    ,

    EXTEDO, and

    Online Business Applications, Inc.

     

    Reasons to buy report

    • To understand the Asia Pacific 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 Asia Pacific pharmacovigilance and drug safety software market
    • Efficiently plan M&A and partnership deals in Asia Pacific 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 Asia Pacific pharmacovigilance and drug safety software market
    • Obtain market revenue forecast for market by various segments from 2021-2028 in Asia Pacific region.

     

    ASIA PACIFIC 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

    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
      • Rest of Asia Pacific

     

     

    Companies Mentioned

    1. Veeva Systems    
    2. IQVIA Inc.               
    3. AB Cube                  
    4. ArisGlobal LLC       
    5. Sparta Systems    
    6. Oracle Corporation             
    7. Sarjen Systems Pvt. Ltd     
    8. EXTEDO
    9. Online Business Applications, Inc.

     

     

    The List of Companies - Asia Pacific Pharmacovigilance and Drug Safety Software Market

    1. Veeva Systems    
    2. IQVIA Inc.                                
    3. AB Cube                                   
    4. ArisGlobal LLC       
    5. Sparta Systems    
    6. Oracle Corporation             
    7. Sarjen Systems Pvt. Ltd     
    8. EXTEDO
    9. Online Business Applications, Inc.
    Frequently Asked Questions
    How big is the Asia Pacific Pharmacovigilance and Drug Safety Software Market?

    The Asia Pacific Pharmacovigilance and Drug Safety Software Market is valued at US$ 32.8 Million in 2019, it is projected to reach US$ 62.7 Million by 2027.

    What is the CAGR for Asia Pacific Pharmacovigilance and Drug Safety Software Market by (2020 - 2027)?

    As per our report Asia Pacific Pharmacovigilance and Drug Safety Software Market, the market size is valued at US$ 32.8 Million in 2019, projecting it to reach US$ 62.7 Million by 2027. This translates to a CAGR of approximately 8.2% during the forecast period.

    What segments are covered in this report?

    The Asia Pacific Pharmacovigilance and Drug Safety Software Market report typically cover these key segments-

    • Software Type (Adverse Event Reporting Software, Drug Safety Audits Software, Issue Tracking Software, Fully Integrated Software)
    • Delivery Mode (On-premise, Cloud-based)
    • End User (Pharmaceutical and Biotech Companies, Contract Research Organizations)

    What is the historic period, base year, and forecast period taken for Asia Pacific Pharmacovigilance and Drug Safety Software Market?

    The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Pharmacovigilance and Drug Safety Software Market report:

  • Historic Period : 2017-2018
  • Base Year : 2019
  • Forecast Period : 2020-2027
  • Who are the major players in Asia Pacific Pharmacovigilance and Drug Safety Software Market?

    The Asia Pacific Pharmacovigilance and Drug Safety Software Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:

  • Veeva Systems
  • IQVIA Inc.
  • AB Cube
  • ArisGlobal LLC
  • Sparta Systems
  • Oracle Corporation
  • Sarjen Systems Pvt. Ltd
  • EXTEDO
  • Online Business Applications, Inc.
  • Who should buy this report?

    The Asia Pacific Pharmacovigilance and Drug Safety Software Market report is valuable for diverse stakeholders, including:

    • Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
    • Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
    • Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
    • Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
    • Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.

    Essentially, anyone involved in or considering involvement in the Asia Pacific Pharmacovigilance and Drug Safety Software Market value chain can benefit from the information contained in a comprehensive market report.