A compound yearly 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.

Regulations are crucial and frequently alter in fields including biotechnology, medicines, and clinical research. As a result, competent regulatory information management software was developed, and corporate stakeholders are currently using it. One of the key elements driving the adoption of regulatory information management software is the constantly shifting regulatory landscape in these industries.

One of the key reasons projected to drive the market in the next years is a rise in clinical research being undertaken around the world. The demand for regulatory information management systems is anticipated to expand due to the rising necessity for real-time monitoring of regulations in the clinical trial industry. The market for regulatory information management systems is predicted to grow as a result of the rising global need for automated administration of the whole workflow of product operations in real time.

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Regulatory Information Management Market Restraint

Despite this, the market is anticipated to face challenges during the forecast period due to a lack of skilled professionals and the high cost of regulatory information management systems. The regulatory information management market is anticipated to expand as a result of easy access and software that reduces human mistake in the regulatory process. North America's regulatory information management market is anticipated to see the highest CAGR throughout the anticipated time frame.

Due to the substantial presence of pharmaceutical firms in nations like the United States and Canada, including Amgen, GlaxoSmithKline, Novartis, Johnson & Johnson, and Gilead Sciences, North America is predicted to dominate the regulatory information management market. Additionally, according to the European Federation of Pharmaceutical Industries and Associations, North America will make up 49.0% of global pharmaceutical revenues in 2022, compared to Europe's 21.5%. (EFPIA).

Regulatory Information Management Market: Drivers and Restraints

Pharmaceutical companies can benefit from the Regulatory Information Management Market in a number of ways, including by encouraging regulatory organisations like the U.S. Food and Drug Administration and the European Medicines Agency to collect and share more data (FDA).

The shared format for managing drug safety product information has been standardised by all pharmaceutical enterprises in compliance with the EVMPD rule, which took effect on July 2, 2012. Regulatory organisations will significantly influence the growth of the worldwide regulatory information management market throughout the anticipated time frame.

Regulatory Information Management Market: Overview

The Regulatory Information Management Market is gaining popularity among pharmaceutical and biopharmaceutical companies due to its effectiveness and efficiency in the regulatory approval of pharmaceuticals. Companies that keep track of market regulatory information may share updates on their products. The potential of the market is expected to be fully realised over the course of the projected period thanks to the global Regulatory Information Management Market.

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 report covers exhaustive analysis on

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

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