Risk-based Monitoring (RBM) Software Market Potential Share, Demand and Analysis Of Key Players- Research Forecast To 2027

Risk-based Monitoring (RBM) Software Market

The risk-based monitoring (RBM) software market is projected to reach value of USD 644.6 Million by 2027, according to a current analysis by Emergen Research. During the forecast period, the global risk-based monitoring (RBM) software market is anticipated to expand significantly, owing to the increasing need for source data verification solutions in clinical trials.

Rising demand for cost-effective monitoring systems for use in clinical trials is expected to further fuel the global risk-based monitoring (RBM) software market during the forecast period. Moreover, rising adoption of the risk-based monitoring software solution in clinical trials for better outcomes is anticipated to boost the market in the near future.

The report provides valuable data on key driving forces, prominent players, emerging trends, gross margin, customer preference and profit across various regions for the forecast period, 2020-2027. To help product owners design a robust plan the study takes a closer look at the product pricing, technology innovation, key competitors, product launches, product pipeline and major driving forces.

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The all-encompassing study pertaining to the market share, growth and size equip stakeholders, business owners, and field marketing personnel to obtain a unique knowledge about the current business environment to offer a competitive advantage over the giants. Deep dive into past, present, and future industry trends include in the market intelligence report reveals a lot about the strategic capabilities business owners can leverage to gain a strong foothold in the business world.

 key findings

  • In December 2020, ERT Inc. announced its merger with BioClinica, Inc. The move would enable ERT to keep reinventing end-point data collection by offering better-quality data and more streamlined solutions to meet its customers’ priorities in terms of high performance, improved efficiency, safer clinical trials, and patient-centric digital solutions.
  • The web-based segment is expected to lead the market, expanding at a CAGR of 13.4% during the forecast period, due to advantages of web-based risk-based management applications such as enhanced data security, enhanced scalability, lower operating costs, simple software deployment, and enhanced configuration.
  • The dashboard monitoring segment is expected to retain the largest market share during the forecast period. Dashboard monitoring gives a look at the specific information of the status of each test site based on risk factors of the test.
  • The pharmaceutical & biopharmaceutical companies segment is expected to lead the market during the forecast period. The techniques of risk-based monitoring software commonly used in pharmaceutical and biopharmaceutical industries offer several benefits, such as enhanced process reliability and reduced associated costs.

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The report also discusses the key players involved in the market such as ERT Inc., Veeva Systems Inc., Anju Software, Inc., PerkinElmer Inc., Quanticate Inc., Dassault Systèmes SE, DataTrak International, Inc., International Business Machines Corporation, PAREXEL International Corporation, and MaxisIT Inc. among others and others as well as new entrants in the market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.

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Emergen Research has segmented the global risk-based monitoring (RBM) software market on the basis of deployment, monitoring process, end-use, and region.

  • Deployment Outlook (Revenue, USD Million; 2017–2027)
    • Cloud-based
    • On-premises
    • Web-based
  • Monitoring Process Outlook (Revenue, USD Million; 2017–2027)
    • Statistical Analysis
    • Targeted on-site Investigation
    • Dashboard Monitoring
    • Data Collection & Submission
  • End-use Outlook (Revenue, USD Million; 2017–2027)
    • Pharmaceutical & Biopharmaceutical Companies
    • Medical Device Companies
    • Contract Research Organizations
    • Others

The report analyses the market based on different categories such as product types, end-user applications, and leading geographical regions. It offers key insights into the factors that are expected to influence the growth of the segments and sub-segments.

Major regions include North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report studies the market in these regions on the basis of demand and trends, consumer behaviour and preferences, government initiatives and regulatory framework, economic growth, technological developments, supply and demand, production and consumption patterns, import/export, and presence of key players in each region.

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