Real-time Management and Surveillance of all Safety Events & Signals
The Pharmacovigilance Outsourcing Market size exceeded USD 3.8 billion in 2019 and is set to grow to USD 10.6 billion by 2026. The number of adverse drug reactions (ADRs) reported during the last few years has increased to a great extent and requires high levels of expertise in pharmacovigilance to rapidly detect drug risks and defend the product against recalls. (Source #1)
The COVID-19 pandemic has impacted nearly every aspect of our lives and how we conduct business. Businesses are focusing on maintaining businesses continuity as their top priority. Focus on innovation has declined in almost all industries with the exception of pharmaceuticals and medical products, where there is a 30% increase in immediate focus on innovation. (Source #2)
The pharmacovigilance/drug safety process is labour intensive and requires specialized skills. The volume of cases is set to increase and with the current situation, scaling up case management by increasing team sizes poses a considerable challenge.
mSafety, a DataFoundry AI Safety and Surveillance Product enables businesses to automate safety Case Intake, Case Management and regulatory Case Reporting.
- Costs savings: 75% savings in case intake and digitization of case information.
- Improved quality: 50% reduction of duplicates and data capture errors.
- Less risks: 75% more accurate Safety reports that are submitted on time.
- Data as an asset: Using the unified data platform reduces data integration and transformation costs by 40% (ETL, CROs).
To know more, download the mSafety data-sheet.