Malaysia Pharmacovigilance & Drugs Safety Software Market Analysis

Malaysia Pharmacovigilance & Drugs Safety Software Market Analysis


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Malaysia Pharmacovigilance & Drugs Safety Software Market is projected to grow from $xx Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. Pharmacovigilance & Drugs Safety Software Market is growing due to the increasing volume and complexity of drug safety data, stringent regulatory requirements and the need for efficient adverse event reporting and management. The market for drug safety solutions and pharmacovigilance is primarily driven by the increasing frequency of adverse drug reactions (ADRs). Additionally, tight government restrictions for drug development before and after commercialization as well as outsourcing firms growing use of pharmacovigilance software all contribute to the market's expansion. Drug safety solutions, pharmacovigilance automation research partnerships and integration of systems of pharmacovigilance software with electronic health records (EHRs), clinical trial management systems and regulatory databases also are all anticipated to have a positive impact on the market. IQVIA, Accenture, Cognizant, Laboratory Corporation of America Holdings, IBM, ArisGlobal, ICON Plc., Capgemini, Oracle, Parexel International Corporation are the key global market players in Pharmacovigilance & Drugs Safety Software Market.

ID: IN10MYPH373 CATEGORY: Pharmaceuticals GEOGRAPHY: Malaysia AUTHOR: Aneri Parekh

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Malaysia Pharmacovigilance & Drugs Safety Software Market Analysis Summary

Malaysia Pharmacovigilance & Drugs Safety Software Market is valued at around $0.3 Mn in 2022 and is projected to reach $0.5 Mn by 2030, exhibiting a CAGR of 6.28% during the forecast period 2023-2030.

Pharmacovigilance is the field that tracks the effects of medical medications after licensing. This is done in particular to identify and look into previous negative reactions to unexpected pharmaceutical medications. Due to the rise of several outsourced businesses using connected software services and the rising frequency of ADRs, or adverse drug reactions, the global market for pharmacovigilance and drug safety software is anticipated to grow faster. The market is predicted to experience significant growth in the upcoming years due to the rising demand for various treatments and medicines around the world, ongoing efforts to generate safe medications, and mounting pressure on several biotech and pharmaceutical businesses. IQVIA, Accenture, Cognizant, Laboratory Corporation of America Holdings, IBM, ArisGlobal, ICON Plc., Capgemini, Oracle, and Parexel International Corporation are the key global market players in Pharmacovigilance & Drugs Safety Software Market.

Market Dynamics

Market Growth Drivers

Increasing frequency of adverse drug reactions (ADRs). Additionally, tight government restrictions for drug development before and after commercialization as well as outsourcing firms' growing use of pharmacovigilance software all contribute to the market's expansion. Drug safety solutions, pharmacovigilance automation research partnerships, and integration of systems of pharmacovigilance software with electronic health records (EHRs), clinical trial management systems, and regulatory databases.

Market Restraints

Data privacy concerns, system interoperability issues, and the lack of skilled professionals act as market growth restraints.

Competitive Landscape

Key Players

  • IQVIA
  • Accenture
  • Cognizant
  • Laboratory Corporation of America Holdings
  • IBM
  • ArisGlobal
  • ICON Plc.
  • Capgemini
  • Oracle
  • Parexel International Corporation

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Market Segmentations For Malaysia Pharmacovigilance & Drugs Safety Software Market

By Type

  • Software
  • Services

By Product

  • Standard Form
  • Customized Form

By Functionality

  • Adverse Event Reporting Software
  • Drug Safety Audits Software
  • Issue Tracking Software

By Delivery

  • On-Premise Delivery Mode
  • On-Demand/Cloud-Based (saas) Delivery Mode

By End Users

  • Biotechnology and Pharmaceuticals
  • Contract Research Organizations (CROS)
  • Hospitals
  • KPOs/BPOs
  • Healthcare Providers

By Distribution Channel

  • Direct Sales
  • Retail Sales

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.​

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

  • Analyzing historical proprietary data collected from multiple projects.
  • Regularly updating our existing data sets with new findings and trends.
  • Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

  • Searching through academic conferences, published research, citations, and social media platforms
  • Collecting and compiling diverse data to build a comprehensive and detailed database
  • Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

  • Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
  • Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
  • Continuously refreshing our database to ensure that the information remains current and reliable.
  • Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

  • Merging historical data from secondary research with real-time data from primary research.
  • Conducting thorough data validation and cleansing to remove inconsistencies and errors.
  • Organizing data into a structured format that is easily accessible and usable for various applications.
  • Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.

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Last updated on: 27 February 2024
Updated by: Ritu Baliya

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