Pharmacovigilance Software Market Region Wise Calculation & Analysis Till 2024
“The global Pharmacovigilance (PV) software market size was worth 124.92 million in 2016 which is anticipated to grow at a CAGR of more than 6.6% during the forecast period. Increasing cases of Adverse Drug Reactions (ADRs) is the major attributing element for the growth of the PV software market over the forecast period.�
The global Pharmacovigilance (PV) Software Market size was worth 124.92 million in 2016 which is anticipated to grow at a CAGR of more than 6.6% during the forecast period. Increasing cases of Adverse Drug Reactions (ADRs) is the major attributing element for the growth of the PV software market over the forecast period. Augmented guidelines administered by the government authorities including European Medical Agency and the U.S. FDA are anticipated to encourage the adoption of the pharmacovigilance systems in coming years. These systems have significance in the clinical research since they are applied to perform clinical studies and in carrying out post- marketing surveillance activities. Argus and ArisG are the most widely utilized PV softwares for the clinical studies globally. The advantages related to its usage include simplicity of access and minimized data redundancy that are expected to boost the market growth over the forecast period. Furthermore, increasing withdrawals of the high profile drugs and the pressure on drug manufacturers to identify early signs of ADRs is expected to fuel the demand for these tools over the forecast period. Rising concerns toward patient safety and strict regulatory inspections to control the cases of serious ADRs are amongst the major contributing factors toward the growth. The increasing complication of drug safety regulations is thereby anticipated to fuel the demand.
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