The global pharmacovigilance and drug safety software market is expected to register a high growth due to the increasing incidence of adverse drug reactions (ADRs) that is the major driving factor for the growth of the pharmacovigilance and drug safety software market. For instance, as per the data published by the Center for Disease Control and Prevention, in 2019, adverse drug events (ADE) account for nearly 700,000 emergency department visits and 100,000 hospitalizations each year.