Report Id: SNS/HC/2037 | June 2022 | Region: Global | 125 Pages
Risk-based Monitoring Software Market Overview:
The Risk-based Monitoring Software Market Size was valued at USD 7.61 billion in 2021, and expected to reach USD 12.87 billion by 2028, and grow at a CAGR of 7.8% over the forecast period 2022-2028.
Risk-based monitoring software is a type of clinical trial monitoring software that complies with regulatory criteria. It does, nevertheless, move away from patient data source data verification (SDV). It uses numerous platforms, tools, and dashboards to identify signals that are used to solve issues connected to clinical trial safety, data integrity, and compliance. This risk-based monitoring program aids in the emphasis on trials without putting high-value tasks at risk. The growing number of clinical trials, as well as the increase in government funding and grants for clinical trials, all contribute to the growth of the RBM software market. At the time of speculation, however, the high cost of implementing RBM programs is expected to slow market growth.
RBM systems are cost- and time-effective.
Clinical studies are on the rise.
Grants and financing from the government to support clinical trials are being increased.
Implementation expenses are high.
Clinical trial processes are increasingly being outsourced to contract research organisations (CROs).
Scarcity of qualified personnel to operate RBM solutions
IMPACT OF COVID-19
Medical supplies are in high demand in order to care for the sick populace. Among the most commonly utilised medical equipment in primary clinical care are atomizers, life-support machines, oxygen generators, and monitors. Furthermore, COVID-19 has resulted in a significant increase in demand for medical goods such as masks, gloves, and eye protection. As the number of COVID-19 cases increases around the world, the demand for medical supplies from both healthcare professionals and the general public grows.
The enterprise and site RBM software markets are divided into two categories. In comparison to the type of site, the enterprise is the largest segment. This software allows academics and professionals to obtain clinical test results from a single location, resulting in high demand from end-users.
RBM software is divided into two categories: software and services. The RBM software market is likely to be dominated by the software segment. The expanding R&D expenditure in the life science and clinical research industries, as well as an increasing number of clinical trials and a growing client base, can be attributable to this segment's high proportion.
By Delivery Mode
The RBM software market is divided into two categories: Business Licensed (On-premise) and Cloud-based (SaaS). The web-based segment (Wanted) is expected to have a strong presence in the RBM software market. The benefits of web-based software, such as easy access, improved productivity, time efficiency, and cost effectiveness, make up the bulk of this category.
Pharmaceutical and biopharmaceutical firms, CROs, medical equipment companies, and other end users are building the RBM software industry. The pharmaceutical and biopharmaceutical industry segment is predicting that it will dominate the RBM software market. An important factor driving the growth of this consumer market is the use of costly R&D for pharmaceutical and biopharmaceutical businesses.
Some of the major key players are as follows: ArisGlobal, Anju Software, Bioclinica, DATATRAK, Forte Research Systems, MedNet Solutions, IBM Corporation, Medidata Solutions, Oracle, Parexel.
Site RBM Software
Enterprise RBM Software
By Delivery Mode
Licensed Enterprise (On-premise)
Pharmaceutical & Biopharmaceutical Companies
Medical Device Companies
RBM software market in North America is estimated to account for the highest share of the global market. At the time of speculation, the Asia Pacific market was predicted to grow at a rapid pace. This increase may be due to increased government funding for clinical trials, stronger control guidelines than developed countries, greater patient base, lower operating costs for clinical trials, a shortage of volunteers in Europe and North America, and a growing number. of pharmaceutical companies and contract research organizations (CROs) in the region.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2021||US$ 7.61 Billion|
|Market Size by 2028||US$ 12.87 Billion|
|CAGR||CAGR of 7.8% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Type (Site RBM Software, Enterprise RBM Software)
• By Component (Services, Software)
• By Delivery Mode (Licensed Enterprise (On-premise), Cloud-based (SaaS))
• By End-User (Pharmaceutical & Biopharmaceutical Companies, Medical Device Companies, CROs)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||ArisGlobal, Anju Software, Bioclinica, DATATRAK, Forte Research Systems, MedNet Solutions, IBM Corporation, Medidata Solutions, Oracle, Parexel.|
|DRIVERS||• RBM systems are cost- and time-effective.
• Clinical studies are on the rise.
• Grants and financing from the government to support clinical trials are being increased.
|RESTRAINTS||• Implementation expenses are high.|
Frequently Asked Questions (FAQ) :
Risk-based Monitoring Software Market Size was valued at USD 7.61 billion in 2021.
RBM systems are cost- and time-effective, Clinical studies are on the rise are the key drivers of the Risk-based Monitoring Software market
RBM software market in North America is estimated to account for the highest share of the global market.
Manufacturer and service provider, research institutes, university and private libraries, suppliers and distributers.
The risk-based Monitoring Software market is divided into four segments they are By Type, By Component, By Delivery Mode, and By End-User.
Table of Content
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of Ukraine ware
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Risk-based Monitoring Software Market Segmentation, By Type
8.1 Site RBM Software
8.2 Enterprise RBM Software
9. Risk-based Monitoring Software Market Segmentation, By Component
10. Risk-based Monitoring Software Market Segmentation, By Delivery Mode
10.1 Licensed Enterprise (On-premise)
10.2 Cloud-based (SaaS)
11. Risk-based Monitoring Software Market Segmentation, By End-User
11.1 Pharmaceutical & Biopharmaceutical Companies
11.2 Medical Device Companies
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13.1 Anju Software
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.3 Bioclinica, DATATRAK
13.4 Forte Research Systems
13.5 MedNet Solutions
13.6 IBM Corporation
13.7 Medidata Solutions
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
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The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
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