Regulatory Information Management System (Rims) Market Size Will Observe Lucrative Surge By The End 2026


Posted March 26, 2020 by avinash1

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services,

 
Organizations have to adhere to certain regulations for production and development of products, solutions, and services. This software ensures that these organizations adhere to the regulations, which in turn helps them to reduce downtime or production of the products, which are not in line with the set regulatory standards. The software is most suitable for application in industries such as healthcare and life sciences, where the regulations need to be updated regularly and followed strictly, owing to its sensitivity and direct effect on the lives of the consumers of the medicines.
 
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Market Dynamics
 
Market for regulatory information management is expected to exhibit significant traction, during the forecast period, owing to factors such as increasing stringency of the norms provided by regulatory bodies such as U.S. Food and Drug Administration (FDA), European Medicines Agency, and other similar agencies in the respective regions globally. The regulatory scenario is complex and always changing, therefore to keep up with regulatory requirements across global markets is challenging. According to the European Union Drug Regulating Authorities Pharmacovigilance Medicinal Product Dictionary (EVMPD) regulations, all pharmaceutical companies harmonized exchanged format to manage the drug safety product information, which was effective from July 02, 2012. Pharmaceutical companies tend to adopt advanced technologies such as regulatory information management systems. This enables respective personnel of these companies with easy access to information at any time. The reduction in manual errors in regulatory process coupled with easy access to all the information are further expected to contribute in growth of global regulatory information management system market. Apart from healthcare and life sciences, this software is also being adopted in the multiple industries such as biotechnology and clinical research organizations as they vary in terms of degrees of maturity when it comes to regulatory processes.
 
Key features of the study:
 

This report provides in-depth analysis of regulatory information management market size (US$ Million), and Compound Annual Growth Rate (CAGR %) for the forecast period (2019– 2027), considering 2018 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
It profiles leading players in the global regulatory information management market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, key developments, strategies,
Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, product upgrades, market expansion, and marketing tactics
The global regulatory information management market report caters to various stakeholders in this industry including investors, developers, integrators, service providers, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global regulatory information management market.

 
Market Driver:
 
The regulatory scenario in the industries such as biotechnology, pharmaceuticals, and clinical research tend to be highly critical and keeps updating at frequent intervals. This has led to development of competent regulatory information management software to be adopted by industry players. This ever-changing regulatory scenario in such industries proves to be one of the important driving factors for adoption of regulatory information management software. Also, reduction in manual errors in the software designed for regulatory process coupled with easy access are further expected to contribute in growth of global regulatory information management system (RIMS) market.
 
Detailed Segmentation:
 
Global Regulatory Information Management System (RIMS) Market, By Application:

Registration (Planning & Tracking)
Submission
Publishing
e-Archiving
Others (Management, Labeling, etc.)

Global Regulatory Information Management System (RIMS) Market, By Component:

Software
Suites
Stand Alone
Services
Managed
System Integration
Consulting & Training

Global Regulatory Information Management System (RIMS) Market, By Deployment:

On-Premise
Cloud Based

Global Regulatory Information Management System (RIMS) Market, By Enterprise Size:

SMEs
Large Enterprises
Global Regulatory Information Management System (RIMS) Market, By End Use:
Pharmaceutical Industry
Biotechnology Industry
Clinical Research Organizations

 
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Key companies
Major players operating in the global regulatory information management system (RIMS) market include Acuta, LLC, AMPLEXOR, ArisGlobal LLC, arivis AG, DDi, Inc., Ennov SA, Extedo Gmbh, GLEMSER TECHNOLOGIES CORPORATION, Samarind Ltd., Sparta Systems Inc., Veeva Systems, and Virtify, Inc.
 
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Last Updated March 26, 2020