MRRS adds "Pharmacovigilance and Drug Safety Software Market by Functionality (Adverse Event Reporting, Fully Integrated Software), Delivery Mode (On-premise, On-demand/Cloud based (SAAS)), End-user (Pharma & Biotech Companies, CROs, BPOs) – Global Forecast to 2019" latest studies, published in January 2017. It is a professional and in-depth study.

The global pharmacovigilance and drug safety software market is expected to grow at a CAGR of 6.5% from 2014 to 2019. North America region held the largest share of the pharmacovigilance and drug safety software market in 2014. However, Asian and Latin American countries symbolize high growth markets. This is owing to a rise in research outsourcing by pharmaceutical giants and growing public and private investments in pharmaceutical R&D in these emerging nations.

The growth of the global pharmacovigilance and drug safety software market is mainly driven by increasing incidence rates of adverse drug reactions (ADRs), growing adoption of pharmacovigilance software by outsourcing companies (such as CROs and BPOs), and huge pressure on pharma companies to develop novel and safe drugs. However, the dearth of standard regulations and lack of pharmacovigilance professionals are some of the key factors restraining the growth of this market.

In this report, the global pharmacovigilance and drug safety software market has been classified into four segments on the basis of functionality, namely, adverse event reporting software, drug safety audits software, issue tracking software, and fully integrated software. The global pharmacovigilance and drug safety software market is segmented into two segments on the basis of delivery mode, namely, on-premise delivery mode and on-demand/cloud based (SaaS) delivery mode. The global pharmacovigilance and drug safety software market is also segmented on the basis of end users including pharma and biotech companies, contract research organizations (CROs), business process outsourcing (BPO) firms, and other pharmacovigilance service providers.

The global pharmacovigilance and drug safety software market comprises large number of small and mid-size software developers and service providers. As of 2014, the global pharmacovigilance and drug safety software market was dominated by Oracle Corporation (U.S.).

New service launches; agreements, and partnerships; software developments; and geographical expansions are some of the major strategies adopted by most of the market players to achieve growth in the pharmacovigilance and drug safety software market.

Table Of Contents
5 MARKET OVERVIEW 35
5.1 INTRODUCTION 36
5.2 MARKET SEGMENTATION 36
5.2.1 GLOBAL PHARMACOVIGILANCE AND DRUG SAFETY SOFTWARE MARKET,
BY FUNCTIONALITY 36
5.2.2 GLOBAL PHARMACOVIGILANCE AND DRUG SAFETY SOFTWARE MARKET,
BY DELIVERY MODE 37
5.2.3 GLOBAL PHARMACOVIGILANCE AND DRUG SAFETY SOFTWARE MARKET,
BY END USER 37
5.3 MARKET DYNAMICS 38
5.3.1 KEY MARKET DRIVERS 38
5.3.1.1 Intensification of drug safety regulations by government authorities 38
5.3.1.2 Heavy clinical R&D expenditure by the pharmaceutical industry 39
5.3.1.3 Benefits offered by PV solutions—reduced cost and time involved in clinical trial processes 39
5.3.1.4 Government grants to support clinical trials 39
5.3.1.5 Large investments in healthcare IT by governments from mature as well as developing nations 40
5.3.2 KEY MARKET RESTRAINTS 41
5.3.2.1 Dearth of healthcare IT professionals 41
5.3.2.2 Cultural differences and language barriers 42
5.3.3 KEY MARKET OPPORTUNITIES 42
5.3.3.1 Cloud technology provides opportunities for industry players 42
5.3.3.2 Emerging markets to offer high growth opportunities 42
5.3.4 KEY MARKET CHALLENGES 43
5.3.4.1 Lack of standardization and harmonization of drug safety regulations 43
5.3.4.2 Low adoption of pharmacovigilance solutions in the least developed countries 43
6 INDUSTRY INSIGHTS 45
6.1 INTRODUCTION 45
6.2 PORTER’S FIVE FORCES ANALYSIS 45
6.2.1 THREAT FROM NEW ENTRANTS 46
6.2.2 THREAT FROM SUBSTITUTES 47
6.2.3 BARGAINING POWER OF SUPPLIERS 47
6.2.4 BARGAINING POWER OF BUYERS 48
6.2.5 INTENSITY OF COMPETITIVE RIVALRY 48
6.3 INDUSTRY TRENDS 49
6.3.1 STRONG FOCUS ON NEW PRODUCT LAUNCHES 49
6.3.2 GROWING MARKET PREFERENCE FOR CLOUD-BASED PLATFORMS 49
....

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