Press release

Global Regulatory Information Management System (RIMS) Market to Surpass US$ 2,442.9 Million By 2027

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According to the Coherent Market Insights, the global regulatory information management system (RIMS) market was valued at US$ 797.2 million in 2018, and is projected to exhibit a CAGR of 13.7% over the forecast period (2019 – 2027).

Key Trends and Analysis of the Regulatory information management system (RIMS) market:

Regulatory information management software is expected to gain traction during the forecast period, owing to multiple factors such as changing regulatory scenario in industries such as biotechnology, pharmaceuticals, and clinical research, which is highly critical and needs to be updated 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 the market 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.

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The market for regulatory information management is expected to experience significant traction during the forecast period, owing to increasing volume of data to be collected and provided by regulatory bodies such as the U.S. Food and Drug Administration (FDA), European Medicines Agency, and other similar agencies in the respective regions globally to industry players.

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Key Market Takeaways:

  • The market is expected to witness a CAGR of 13.7% during the forecast period (2019–2027), and this is attributed to increasing adoption of drones for military operations such as intelligence, surveillance, & reconnaissance (ISR), and tactical warfare.
  • Major factors driving growth of the regulatory information management system (RIMS) market is regular changes in regulations for pharmaceutical industry, which is propelling various companies in the industry to adopt competent regulatory information management software. The regulatory scenario tends to be complex in nature and is always changing. Therefore, in order to keep up with the updated regulatory norms set by the regulatory authorities and government periodically, key players are focusing on adopting such software, which is expected to aid in growth of the market. According to the European Union Drug Regulating Authorities Pharmacovigilance Medicinal Product Dictionary (EVMPD) regulations, all pharmaceutical companies are adopting updated regulations to manage the drug safety product information, with effect from July 02, 2012.
  • Some of the 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.

Report 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
  • Global Regulatory Information Management System (RIMS) Market, By Geography:

    • North America

      • By Country:

        • U.S.
        • Canada
    • Europe By Application:

      • By Country:

        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Rest of Europe
    • Asia Pacific

      • By Country:

        • China
        • India
        • Japan
        • Australia
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
    • Latin America

      • By Country:

        • Mexico
        • Brazil
        • Argentina
        • Rest of Latin America
    • Middle East & Africa

      • By Country:

        • GCC Countries
        • South Africa
        • Rest of Middle East & Africa
  • Company Profiles

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/regulatory-information-management-system-rims-market-2827