A compound annual growth rate CAGR of 11.2% is predicted for the market for regulatory information management systems, which will reach US$ 1.78 billion in 2022 and reach US$ 5.09 billion by 2032.
The regulatory environments in industries like biotechnology, pharmaceuticals, and clinical research are extremely important and frequently change. As a result, capable regulatory information management software was created and is currently being used by business stakeholders. The constantly changing regulatory environment in these industries is one of the main factors influencing the adoption of regulatory information management software.
An increase in clinical studies being conducted across the globe is one of the major factors anticipated to propel the market in the coming years.
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Regulatory information management (RIM) refers to the management of regulatory information and processes throughout the product lifecycle in regulated industries such as pharmaceuticals, medical devices, and biotechnology. RIM solutions are used to manage regulatory documents, submissions, registrations, and commitments across multiple geographies and regulatory bodies.
The market for regulatory information management is driven by factors such as the increasing regulatory complexity and the need for efficient management of regulatory information to ensure compliance and timely approvals. RIM solutions enable companies to manage regulatory information more effectively and to streamline the regulatory submission and approval process.
Leading companies in the regulatory information management market include Veeva Systems, PAREXEL International Corporation, Oracle Corporation, and ArisGlobal. These companies offer a range of software solutions for regulatory information management, including document management, submission management, and compliance management.
RIM solutions enable companies to improve their regulatory compliance and to accelerate the approval of new products. For example, RIM solutions can help companies to track and manage regulatory commitments, to manage submission deadlines, and to ensure compliance with regulatory requirements.
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Regulatory Information Management Market: Key players
Some of the key players are
- ACUTA, LLC.
- Parexel
- Computer Sciences Corp (CSC)
- Aris Global
- Virtify
- Ennov
- Amplexor
- Samarind Ltd
- Dovel Technologies, Inc.
- Informa
The Research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
Regulatory Information Management Market: Region-Wise Outlook
Regulatory Information Management Market is segmented into seven key regions: Those are North America, Latin America, Eastern Europe, Western Europe, and APEJ, Japan, Middle East and Africa. North America is anticipated to dominate the regulatory information management market due to the presence of pharmaceutical stalwarts in the countries like US and Canada.
Regulatory Information Management Market: Segmentation
Global Regulatory Information Management Market can be segmented as following types:
- By Product:
- Software
- Hardware
- By End User
- Pharmaceutical Industry
- Biotechnology Industry
- Clinical Research organizations
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