The pharmacovigilance and drug safety software market in Middle East and Africa is expected to grow from US$ 6. 1 million in 2019 to US$ 9. 9 million by 2027; it is estimated to grow at a CAGR of 6. 2% 2019-2027.
New York, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Middle East and Africa Pharmacovigilance and Drug Safety Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Software Type ; Delivery Mode ; End User" - https://www.reportlinker.com/p06103232/?utm_source=GNW
Adverse drug reactions (ADRs) is one of the important public health problems, signifying a major cause of illness and death. All drugs have the potential for adverse drug reactions; therefore, 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, and location. To arrange these uniformly, automation systems/software are helpful. Thus, the rising incidence of ADRs drives the growth of the Middle East and Africa pharmacovigilance and drug safety software market.
The Middle East and Africa pharmacovigilance and drug safety software market is segmented on the bases of software type, delivery mode, and end user.In 2019, the adverse event reporting software accounted for the largest market share in the market.
In pharmacovigilance, the high volume of adverse reaction report event data is generated.These reports may not be in a uniform format.
Therefore, it becomes difficult to classify the event manually.Manual processing and classification of adverse event reports is costly and time-consuming operation.
To overcome these challenges, companies are incorporating automated solutions. Therefore, the market growth is expected to bolster during the forecast period.
The Middle East and Africa pharmacovigilance and drug safety software market is growing due to the increased demand for treatments due to the COVID-19 outbreak.There is a current focus on drug safety in this area and how one can avoid counterfeit drugs from entering the supply chain.
Methods for regional cooperation and expertise gained from more active projects should be improved.Technology must be used to improve the ability to report spontaneously and to make data available for processing.
The countries are mainly focusing on the treatment of COVID-19 patients and hence the pharmacovigilance and drug safety software is facing impact.
The overall Middle East and Africa pharmacovigilance and drug safety software market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the Middle East and Africa pharmacovigilance and drug safety software market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Middle East and Africa pharmacovigilance and drug safety software market. Veeva Systems, IQVIA Inc., ArisGlobal LLC, Sparta Systems, Oracle Corporation, Sarjen Systems Pvt. Ltd, and EXTEDO are among the players operating in the market.
Read the full report: https://www.reportlinker.com/p06103232/?utm_source=GNW
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