Published on : Aug 16, 2017
Albany, New York, August 17, 2017: The report studies the global drug safety software market in detail and presents detailed forecasts regarding the market’s likely growth trajectory till 2022. The drug safety software market has attained key importance in recent years due to several factors, which is reflected in the strong growth prospects in the coming years. The segmentation of the global drug safety software market is assessed in detail in the report in order to provide readers with a clear picture of the likely leaders in the market in the coming years. The report is titled ‘Global Drug Safety Software Market Size, Status and Forecast 2022.’
The drug safety software market has been able to muster a steady upward trajectory in recent years due to the steady growth of the pharmaceutical industry. The pharmaceutical industry has benefited from the steady government support in developed regions to expand at a strong growth rate, while several emerging economies also now represent lucrative regional markets due to the high volume of unmet demand. This has driven the demand for consistent improvements in a network of industries sustained by the pharmaceuticals industry and is likely to remain the key driver for the drug safety software market in the coming years.
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The increasing attention to detail being paid by pharmaceutical giants to ensuring product safety is responsible in large part for the growth of the global drug safety software market. Due to increasing competition and the consequently intense adverse impact of product recalls, ensuring the safety of drugs pre-release has become the top priority for leading players in the pharmaceutical industry. This has led to steady demand from the drug safety software market. Drug safety software provides for accurate and easily retrievable storage of drug trial data, making the process better monitored and thus ensuring a higher degree of safety in the end product.
By type, the report segments the global drug safety software market into issue tracking solutions, adverse event reporting solutions, and fully integrated solutions. By application, the drug safety software market is segmented into pharma and biotech companies, CROs, BPOs, and others. The report provides 2012-2017 figures illustrating the performance of each leading segment of the global drug safety software and further provides 2022 forecasts based on solid analysis of the historical performance of the segments.
By region, the leading drug safety software markets profiled in the report include the U.S., the EU, Japan, China, India, and Southeast Asia. The U.S. is likely to remain the undisputed leader in the drug safety software market in the coming years due to the steady presence of several of the healthcare sector’s top players as well as the extremely competitive market environment ensured by the strict guidelines laid down by regulatory bodies such as the FDA. Nevertheless, emerging regions such as India and China could play a key role in the development of the global drug safety software market in the coming years, as the indigenous pharmaceutical industry in these countries is on the rise. Outsourcing of pharmaceutical operations from bigger players in developed countries to CROs and BPOs in the region could also be key to the drug safety software market in Asia Pacific.
Leading companies examined in the report include Sparta Systems Inc., United BioSource Corporation, Oracle Corporation, and Online Business Applications Inc.
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