Regulatory Information Management Market 2019
RIMS or Regulatory Information Management System is a category of software solutions that help life science brands submit their medical products to regulatory bodies in the approved manner. The basic idea of this industry is simple. When a brand wants to sell a product to the market, it has to be approved by specific regulatory bodies, both locally and internationally. For the products to be approved, these bodies will require the submissions to happen in a particular format and manner. Regulatory Information Management System software will streamline this process and make the submissions successful and hassle-free.
With good RIMS software in place, the companies can ensure that they observe the stringent and strict regulations required in different regions. The regulatory scenario of different bodies in industries like pharmaceuticals, biotechnology, and clinical research keeps going through updates regularly. This means that the structure followed in the previous months may not be valid now. This constantly changing regulatory environment is a big growth factor for the RIMS market. The growth of life science organizations will also require better RIMS software implementation and will increase the market share of RIMS companies. This report deals with the market growth and market share of this industry globally, region wise and company wise. The forecast period for this report is from 2017 to 2023.
The market is segmented based on key players, type, and applications. Based on the application, this report discusses the use of RIMS in pharmaceutical industries, in biotechnology industries, and in clinical research organizations. Based on the type of product used, the report extensively discusses the market share, demand, and the growth forecast of both software and service RIMS.
There are a total of 11 companies included in the investigation and these companies all have held key market share in the industry in the past. Computer Science Corp (CSC), Acuta LLC, Veeva Systems, Dovel Technologies, MasterControl, Amplexor, Ennov, Sparta System, Parexel, Aris Global, and Samarind are the companies considered here. Their market share, their growth range, and their product values are analyzed for the estimated year and the forecast periods.
North America, Europe, Asia-Pacific, South America and the Middle East and Africa are the broad regions which are included in this analysis. Asia-Pacific will see amazing growth in the forecast periods and China and India will be countries that cannot be ignored. North America and the United States of America, in particular, will keep playing an important role in the growth of the industry. Europe has had a good position in the past and will continue to be a decisive region for the growth of this industry.
Veeva Systems is one of the leading providers of RIMS software for clients globally. In September 2019, this brand announced that it will be taking over the timely complaint interaction process through preferred channels with healthcare professionals for OPKO Health, a pharmaceutical and diagnostic company.
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