Risk-based Monitoring Software Market Worth $511 Million by 2025 | Rising Number of Clinical Trials

May 25 18:34 2020
Risk-based Monitoring Software Market Worth $511 Million by 2025 | Rising Number of Clinical Trials

Risk-based Monitoring Software Market Report Provides Crucial Industry Insights That Will Help Your Business Grow. Know The Key Industry Trends.
The study objectives are to present Risk-based Monitoring Software Market development in North America, Europe, China, Japan, Southeast Asia, India and Central & South America.

According to the new market research report Risk-based Monitoring Software Market by End User (Pharma & Biopharmaceutical Co., Medical Device Co., CROs), Delivery Mode (Web Hosted, On-premise, Cloud-based), Type (Enterprise, Site), Component (Software, Services) – Global Forecast to 2025“, published by MarketsandMarkets™, the RBM software market is expected to reach USD 511 million by 2025 from USD 273 million in 2020, at a CAGR of 13.3%.

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The key factors driving the growth of this 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.

risk-based-monitoring-software-market

By type, the Enterprise RBM Software segment is expected to account for the largest share of the Risk-based Monitoring Software Market in 2020

Based on type, the 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.

By component, the software segment is expected to account for the largest share of the RBM software market in 2020

Based on the component, the 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

By delivery mode, the delivery mode segment is expected to account for the largest share of the RBM software market in 2020

Based on delivery mode, the 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.

By end-user, the pharmaceutical and biopharmaceutical companies end-user segment is expected to account for the largest share of the Risk-based Monitoring Software Market in 2020

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 to dominate the market in 2020

North AmericaEuropeAsia 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.

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).

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