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Pharmaceutical Quality Management Software Market is expected to grow at a CAGR of 22.91% by 2031


 The global pharmaceutical quality management software market report highlights that the market was valued at $472.6 million in 2020 and is expected to reach $3,717.7 million by the end of 2030. The market is expected to grow at a CAGR of 22.91% during the forecast period from 2021 to 2030.

Impact of COVID-19 on the Global Pharmaceutical Quality Management Software Market

A paradigm shift in consumer preference from a paper-based management system to a digital cloud-based system has been witnessed in the past decade. The pandemic had a positive impact on the global pharmaceutical quality management software market. This is attributed to government-imposed restrictions during the lockdown and the shift towards working remotely. The realized benefits are expected to influence user perception post-COVID as well. Some of these benefits include:

•    Time saving due to systematic categorization and storage of documentation
•    Convenient approach to storage, manage and make sense of large amounts of data        
•    Higher revenue stream, in the long run, owing to cost savings 
•    Cost savings are realized in areas such as non-conformity and complaints
•    Streamlined workflow enabling more efficient communication and collaboration within the organization as well as with clients.

Global Pharmaceutical Quality Management Software Market (by Deployment Model)

The global pharmaceutical quality management software market has been segmented on the basis of deployment model into three broad categories, namely, on-cloud, web-based, and on-premises.

The on-cloud deployment model offers significant benefits over the traditional on-premises software or paper-based system. With the cloud-based system, it is easier to upgrade to the electronic QMS. The model can be accessed remotely in a highly secured environment. The model is also easily scalable, which allows clients to add more users and storage according to the business needs in the future.

Global Pharmaceutical Quality Management Software Market (by Application)

The global pharmaceutical quality management software market has been segmented on the basis of application into corrective action preventive action (CAPA) management, audit management, document management, change management, training management, risk management, complaints management, regulatory and compliance management, non-conformances handling, supplier quality management, inspection management, equipment management, and others.

Rising technology adoption in the pharmaceutical industry and increasing demand to automate processes to ensure regulatory compliance are major factors driving the growth of various quality management application areas. 

Global Pharmaceutical Quality Management Software Market (by End User)

The global pharmaceutical quality management software market has been segmented on the basis of end users into three categories, namely, pharmaceutical, life sciences companies, and biotechnology companies, contract research organizations, and others.

Pharmaceutical, life sciences, and biotechnology companies are the major end users of the global pharmaceutical quality management software market. The adoption of quality management software is increasing in these industries due to the rapid growth of industries and ease of use. With the adoption of pharmaceutical QMS systems, the industries can better control, manage compliance, and assess the products for quality.

Contract research organizations (CRO) are the emerging end-user segment of the global pharmaceutical quality management software market. The trend is driven by both pharmaceutical and biotechnology companies outsourcing certain processes to CROs. 

Global Pharmaceutical Quality Management Software Market (by Region)

The different regions covered under the global urgent care apps market include North America, Europe, Asia-Pacific, and Rest-of-the-World.

North America and Europe are two of the largest markets for pharmaceutical quality management software. This is attributed to increasing technology integration in the pharmaceutical industry. While developing countries such as those in Asia-Pacific and the Rest-of-the-World currently offer challenges to pharmaceutical QMS developers to enter the market in these regions, they are expected to register strong growth in the adoption of pharmaceutical quality management software in the near future.

Key Market Players and Competition Synopsis

Some of the key players operating in the market include ANTARES VISION S.p.A, AssurX, Inc., AXSource, CLARIVATE PLC., ComplianceQuest, Dassault Systèmes, EtQ Management Consultants, Inc., Honeywell International Inc., Ideagen Plc., IQVIA HOLDINGS INC., LogicGate, Inc, MasterControl, PTC Inc., Sarjen Systems Pvt. Ltd., Qualio, and Veeva Systems Inc.

In the past few years, the global pharmaceutical quality management software market has witnessed several strategic and technological developments undertaken by the different market players to attain their respective market shares in this emerging domain. Some of the strategies covered in this segment are funding activities, mergers and acquisitions (M&As), partnerships, alliances, and business expansion, regulatory and legal activities, and new offerings. The preferred strategy for companies has been partnerships followed by funding activities.

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