Pharmacovigilance and Drug Safety Software Market: Adverse Event Reporting Software to Offer Lucrative Growth Opportunities in Market

The global pharmacovigilance and drug safety software market has been prophesied in a report by Transparency Market Research (TMR) to witness the rise of best business tactics such as constant upgrade of products, joint ventures, collaborations, and acquisitions. Companies could adopt these tactics with a view to strengthen their position in the market. Some of the leading players of the market are United BioSource Corporation, AB Cube, and UMBRA Global LLC. Regional expansion, software development, and new service launch could be other tactics expected to be practiced in the market. Players could testify of quick business opportunities owing to the implementation of such strategies during their operation.

Request Brochure of Report -

TMR has projected the global pharmacovigilance and drug safety software market to rise at a 5.4% CAGR between 2017 and 2022. In 2017, the market had earned revenue of US$143.6 mn. By the completion of 2022, it could expand its valuation to a US$187.0 mn. In terms of type of software, the market has been foreseen to crown adverse event reporting software as a leading segment rising at a 6.2% CAGR. By region, North America could grab a lion’s share of the market, securing a US$79.2 mn by the final forecast year.

Request for Analysis of COVID19 Impact on Pharmacovigilance and Drug Safety Software Market -

Crucial Applications in Clinical Research Set Tone for Valuable Growth

Rising withdrawals of high-profile drugs has been foretold to augment the employment of pharmacovigilance tools in the near future. The usage of these tools could also gain growth because of the swelling pressure on drug manufacturers to determine early signs of adverse interactions due to drug consumption. The demand in the world pharmacovigilance and drug safety software market could be bolstered with advancement in technology.

Request for Custom Research -

There are several benefits associated with the use of cutting-edge pharmacovigilance software such as ARISg and Argus. In the coming years, players could see the adoption of pharmacovigilance software boosted on the back of ease of access, reduced data redundancy, and other benefits. Critical applications of pharmacovigilance and drug safety software in clinical research have been predicted to give a strong push to market growth in the foreseeable future.

Ignorance about Benefits of Using Pharmacovigilance Tools Restricts Demand

Lack of pharmacovigilance professionals and shortage of standard regulations could be among primary factors inhibiting the growth of the international pharmacovigilance and drug safety software market. Furthermore, poor awareness about the benefits of pharmacovigilance software has been expected to dent market growth in the near future.

Buy Pharmacovigilance and Drug Safety Software Market Report at

However, there could be ample of scope for securing growth in the international pharmacovigilance and drug safety software market. This could be on account of rising complexity of regulations related to drug safety. Escalating patient safety issues and rising incidence of adverse side effects due to the consumption of certain drugs or inappropriate dosages have increased the need for stringent regulatory inspections to be implemented on a global scale. Pharmacovigilance and drug safety software could be largely engaged to make available clinical trial programs and reduce medical expenditure.

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.


Transparency Market Research
State Tower,
90 State Street,
Suite 700
Albany NY - 12207United States
USA - Canada Toll Free: 866-552-3453

Back to news