Regulatory Information Management System Market Growth Analysis With investment opportunities – …>
EIN News –
The global regulatory information management system (RIMS) market, which tracks product applications and registrations in industries like pharmaceuticals, biologics, and cosmetics, is rapidly growing
Starting at $1.79 billion in 2023, it is projected to reach $2 billion in 2024, with a CAGR of 11.9%, ultimately hitting $3.01 billion by 2028) This growth is driven by stringent regulatory compliance, pharmaceutical industry expansion, supply chain globalization, increasing regulatory data volumes, and focus on data security
Key Points:
Market Size and Growth:
2023: $1.79 billion
2024: $2 billion
2028: $3.01 billion
CAGR: 11.9% from 2023 to 2024
Growth Drivers:
Stringent regulatory compliance requirements
Expansion of the pharmaceutical industry
Globalization of supply chains
Increasing volumes of regulatory data
Heightened focus on data security
Integration with AI, growing regulatory complexity, and demand for cloud-based solutions
Market Trends:
Technological advancements
Enhanced collaboration with external partners
Blockchain adoption for data integrity
Mobile accessibility and user-friendly interfaces
Key Segments:
Component: Solution, Services
Deployment: On-premise, Cloud
Enterprise Size: SMEs, Large Enterprises
Applications: Registration Management, Regulatory Intelligence, Labeling Management, Submission Planning & Tracking, Publishing, Document Management, Other Applications
End-Users: Pharmaceutical Sector, Medical Device Sector, Other End-users
Regional Insights:
North America dominated in 2023
Asia-Pacific expected to be the fastest-growing region
Major Players:
Deloitte Touche Tohmatsu Limited
DXC Technology Company
IQVIA Inc
Wipro Ltd
Parexel International Corporation
Example Partnership: Vitality TechNet Inc. partnered with Fluree in August 2023.
Link: https://www.einnews.com/pr_news/724500950/regulatory-information-management-system-market-growth-analysis-with-investment-opportunities