Regulatory Information Management Market is estimated to be US$ 2900.77 million by 2030 with a CAGR of 11.50% during the forecast period

Regulatory information management software is a collection of software solutions tailored to each industry and type of organization, with a focus on the pharmaceutical, biotechnology, and clinical research sectors. The programme enables manufacturers and employees in the aforementioned businesses to ensure that complicated laws imposed by regulatory authorities in their particular locations are strictly followed. The regulatory environment in businesses like biotechnology, pharmaceuticals, and clinical research is extremely crucial, and it is always changing. As a result, appropriate regulatory information management software has been developed for industry actors to use. One of the major driving forces behind the adoption of regulatory information management software in such businesses is the ever-changing regulatory environment.

Region Analysis:

North America is expected to dominate the regulatory information management system (RIMS) industry due to strong presence of pharmaceutical corporations such as Amgen, GlaxoSmithKline, Novartis, Johnson & Johnson, and Gilead Sciences in countries such as the United States and Canada. Furthermore, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), North America accounted for 49.0 % of global pharmaceutical sales in 2016, while Europe accounted for 21.5 %. According to IMS Health data (MIDAS May 2017), the United States accounted for 64.7% of sales of new medications introduced between 2011 and 2016, compared to 17.5% in Europe. This graphic demonstrates the potential for regulatory information management software adoption in the North American and European markets.

Key Highlights:

IQVIA RIM Smart, the first fully integrated, cloud-based, complete regulatory information management solution for life sciences, was recently launched by IQVIATM. Artificial intelligence (AI) and machine learning (ML) are increasingly being used to provide intelligent management of a product portfolio's whole regulatory lifetime.

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Key Market Insights from the report:

Global Regulatory Information Management Market accounted for US$ 975.24 million in 2020 and is estimated to be US$ 2900.77 million by 2030 and is anticipated to register a CAGR of 11.50%. The global regulatory information management market has been segmented on the basis of product type, end use industry, and region.

Based on Product Type, Global Regulatory Information Management Market is segmented into software and hardware.
Based on End-User Industry, Global Regulatory Information Management Market is segmented into pharmaceutical industry, biotechnology industry, and clinical research organizations.
By Region, the Global Regulatory Information Management Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Regulatory Information Management Market:

Key players operating in the global regulatory information management market includes Acuta, LLC, Parexel International Corporation, Computer Sciences Corp (CSC), Aris Global, Virtify Inc., Ennov Inc., Amplexor, Samarind Ltd., Dovel Technologies, Inc., and Informa.

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