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Regulatory information management Market Size, Share and Outlook | Samarind Ltd, Amplexor, Ennov, Virtify, Aris Global

Regulatory information management Market Size, Share

United States/New Jersey: Regulatory information management market in Asia Pacific is expected to exhibit a significant CAGR over the forecast period (2018 - 2026).

A regulatory information management system is a computerized system that is designed to enable agencies to efficiently manage the huge amount of data that must be categorized and organized for regulatory decision-making. The key capabilities of this type of software include the ability to create, manage, and update regulatory information. This information can be used for research and regulatory submission activities, such as risk assessments, cost comparisons, and trade studies. These dossiers can also be used for internal regulatory decision-making. Additionally, it is possible to build "meta-data" on the regulatory data management database to allow users to search and view all relevant information.

This study contains data on the industry's market growth as well as major segmentation factors that assist the worldwide Regulatory Information Management Market thrive in the modern day. The study also highlight the significance of the worldwide Regulatory Information Management Market's geographical categorization. The global Regulatory Information Management Market will eventually generate more revenue and will have a larger market size than the previous projection period due to increased demand.

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Major Key players in this Market:

Dovel Technologies Inc.
Samarind Ltd
Amplexor
Ennov
Virtify
Aris Global
Computer Sciences Corp (CSC)
Parexel
ACUTA LLC.

Key Market Drivers:

The increasing usage of regulatory systems in end-use industries such as clinical research, pharmaceutical, and biotechnology, and the prevalence of these sectors are expected to drive the overall growth of the global regulatory information management market. For instance, according to BIO _eutschland, in 2020 the bio-pharma revenue of Germany reached toa around US$ 7.68 billion. Moreover, the constantly changing regulatory scenarios in these sectors, along with reduced manual errors during software designing for several regulatory systems and easy access are expected to create propulsion in the global regulatory information management market.

Covid-19 Impact Analysis:

The COVID-19 pandemic has affected the growth of every sector in the world, however, due to increasing cases, the pharmaceutical and the biotechnology sectors were witnessing an immense surge, owing to several product and service launches. For instance, in December 2020, the U.S. Food and Drug Administration authorized the COVID-19 vaccine developed by Moderna, Inc. These factors resulted in a steady growth of the global regulatory information management market.

Regional Classification

The primary regions covered in the study report include North America, Europe, Asia Pacific, Central and South America, as well as the Middle East and Africa. The specialists who worked on this area of the study looked at a variety of industries that are driving development and might give manufacturers with profitable expansion prospects in the future years. The study also contains sales and revenue prediction data by region and nation for the years 2021-2027.

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Key Takeaways:

The size of the global regulatory information management market was evaluated at around US$ 797.2 million in 2018 and at a CAGR of 13.7% is projected to increase over the market forecast period, owing to increasing clinical trials in the world. For instance according to World Health organization reports, in 2020 around 300 clinical trials have been introduced to search out treatment for COVID-19.

North America is expected to hold a major share of the global regulatory information management market, owing to the increasing service launches by the key market players. For instance, in April 2020, Oracle donated and built a COVID-19 Therapeutic Learning System to the United States government, which allows patients and physicals in order to record the potency of promising COVID-19 drug therapies.

The Asia Pacific is estimated to witness high growth in the global regulatory information management market, owing to the increasing prevalence of pharmaceutical and biotechnology labs in the region. For instance, according to India Brand Equity Foundation, the biotechnology industry in India includes around 2700 biotech start-ups and is expected to reach around 10,000 by the year 2024.

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