Risk-Based Monitoring Software Market To Reach USD 511 Million By 2025
Seeking Alpha Analyst Since 2014
#Healthcare Consultant focusing on #TeleHealth #TeleMedicine #PatientPortals #CVIS #HCIT #MedicalRobots #Vaccines #MedicalDevices #WirelessHealth #Biotechnology
- RISK-BASED MONITORING SOFTWARE: MARKET OVERVIEW.
- RISK-BASED MONITORING SOFTWARE MARKET GROWING AT CAGR OF 13.3%.
This report aims to provide detailed insights into the Risk-Based Monitoring Software Market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Key Factors Driving Market Growth:
The key factors driving the growth of this risk based monitoring software market are the cost and time efficiency of RBM solutions, rising number of clinical trials, and increasing government funding and grants to support clinical trials.
Expected Revenue Growth Analysis:
The Risk Based Monitoring Software market is expected to reach USD 511 million by 2025 from USD 273 million in 2020, at a CAGR of 13.3%.
Enterprise RBM Software segment:
Based on type, the risk based monitoring software market is segmented into Enterprise RBM Software and Site RBM Software. In 2020, the Enterprise RBM Software segment is expected to command the largest share of the market. The large share of this segment can be attributed to the widespread adoption of enterprise RBM software by end-users as it allows all authorized professionals to have access to clinical trial data and metrics placed at a centralized location.
Download PDF Brochure:
Risk-based Monitoring Software Market
Based on the component, the risk based monitoring software market is segmented into Software and Services. In 2020, the software segment is expected to command the largest share of the market. The large share of this segment can be attributed to the increasing R&D expenditure in the life science and clinical research industries, increasing number of clinical trials, and rising customer base.
Browse in-depth TOC on "Risk-based Monitoring Software Market"
114 – Tables
30 – Figures
137 – Pages
Based on delivery mode, the risk based monitoring software market is segmented into Web-based (On-demand), Licensed Enterprise (On-premise), and Cloud-based (SAAS). In 2020, the Web-based (On-demand) segment is expected to command the largest share of the market. The large share of this segment can be attributed to the advantages offered by web-based software, such as easy access, improved productivity, time efficiency, and cost-efficiency.
Growing Demand in Pharmaceutical and Biopharmaceutical Companies:
Based on end user, the market is segmented into pharmaceutical and biopharmaceutical companies, CROs, medical device companies, and other end users. In 2020, the pharmaceutical and biopharmaceutical companies segment is expected to command the largest share of the RBM software market. The increasing R&D expenditure of pharmaceutical and biopharmaceutical companies is the major factor driving the growth of this end-user segment.
North America and Europe to Dominate the Industry:
North America, Europe, Asia Pacific, and the Rest of the World (RoW) are the regions considered for geographic analysis of the global risk based monitoring software market study. North America is expected to account for the largest share of the global market. The large share of North America is attributed to the to the increased adoption of RBM software solutions for clinical trials.
Request Sample Report:
Risk-based Monitoring Software Market
The prominent players in the global RBM software market include Oracle (US), Medidata Solutions (US), and Parexel (US). Other prominent players in the market are Bioclinica (US), Bio-Optronics (US), IBM Corporation (US), DATATRAK (US), Veeva Systems (US), DSG (US), MasterControl (US), ERT (US), Forte Research Systems (US), MedNet Solutions (US), ArisGlobal (US), Anju Software (US), MaxisIT (US), Techsol Corporation (US), OpenClinica (US), CRF Health (US), and Covance (US).
1. In 2018, Bioclinica (US) launched the SMART technology suite available with Medical Imaging, Electronic Data Capture (EDC), and Interactive Response Technology (IRT) combined.
2. In 2019, Veeva Systems (US), acquired Crossix Solutions (US), a provider of privacy-safe US patient data and best-in-class analytics platform to help maximize media and marketing effectiveness.
3. In 2019, Parexel International Corporation (US), partnered with Datavant (US) to enable the connection of real-world data across all clinical trials conducted by Parexel.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.