Risk-based Monitoring Software Market Size Forecasted to be Worth USD 644.6 Million in 2027

Risk-based Monitoring Software Market Size Forecasted to be Worth USD 644.6 Million in 2027


The global risk-based monitoring software market size is expected to reach UD 644.6 Million in 2027 at a CAGR of 13.1% during the forecast period. Increasing number of clinical trials globally has boosted need for monitoring solutions that effectively resolve issues arising during the process and this has been driving growth of market in the recent past. Increasing need for cost-efficient monitoring systems and rising need for robust source data verification solutions in clinical trials are key factors expected to drive revenue growth of market over the forecast period.

Increasing investment by government to support clinical trials and improving efficiency and cost of risk-based monitoring solutions are some key factors expected to drive market growth over the forecast period. Risk-based monitoring software offers clinical teams with a single, integrated platform that converts data streams into actionable analytics. The analytics offered are more focused and data driven that enhances quality and compliance of clinical trials. Major companies operating in the market are engaged in introducing advanced versions of these solutions and this is expected to further fuel revenue growth of market over the forecast period. In addition, increasing awareness about the advantages of risk-based monitoring software among consumers and clinical teams is expected to drive market growth over the forecast period.

However, high costs associated with the implementation of risk-based monitoring software is expected to restrain market growth to a certain extent over the forecast period. In addition, inoperability issues associated with complexity of clinical trials is further expected to hamper market growth to a significant extent over the forecast period.

Risk-based Monitoring (RBM) Software Market

Risk-based Monitoring (RBM) Software Market

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Some Key Highlights in the Report:

  • Web-based segment is expected to register robust revenue CAGR of 13.4% during the forecast period. Growth can be attributed to increasing advantages of web-based risk-based monitoring applications such as improved data security, enhanced scalability, reduced operational expenditure, improved configuration, and easy deployment of software.
  • Dashboard monitoring segment is expected to account for largest share of market over the forecast period. This can be attributed to the ability of dashboard monitoring to offer insights into critical information about status of each test site depending upon risk factors of the test.
  • Pharmaceutical and biopharmaceutical companies segment is expected to dominate other end-use segments in terms of revenue over the forecast period. This can be attributed to increasing use of risk-based monitoring software in pharmaceutical and biopharmaceutical firms owing to several advantages of the software such as improved process reliability and decreased operational costs.
  • North America market revenue is expected to expand considerably over the forecast period due to increasing financial support from government for clinical trials and robust presence of leading market players in the region.
  • Major companies operating in the market include 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.
  • In December 2020, ERT Inc. announced a merger with BioClinica Inc. The merger is expected to enable ERT to efficiently reinvent end-point data collection by providing high-quality data and streamlined solutions to cater to increasing demand for high performance, enhanced efficiency, improved safety of clinical trials, and patient-centric digital solutions.

For the purpose of this report, 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

Regional Outlook (Revenue, USD Million; 2017–2027)

  • North America
  • Europe
    • Germany
    • U.K.
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Rest of APAC
  • Latin America
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • Rest of MEA

To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/risk-based-monitoring-software-market










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