What is Risk-Based Monitoring Software Market?
A risk-based monitoring is used to feed data from study sites into a dashboard, that alerts the sponsor to situations that need further investigation. The software fulfills regulatory requirements which moves away from 100% source data verification (SDV) of patient data. Further, it employs various tools, platforms and dashboards to identify signals, which indicate potential issues with trial conduct, safety, data integrity, compliance and enrolment. The risk-based monitoring also means that the volume and frequency of monitoring is reduced, as data are only verified at high risk sites based on triggered events.
The market study is being classified by Type (Enterprise RBM Software and Site RBM Software), by Application (Image Recognition, Signal Recognition, Data Mining and Others) and major geographies with country level break-up.
IBM Corporation (United States), Oracle (United States), Medidata Solutions (United States), Parexel (United States), Bioclinica (United States), Bio-Optronics (United States), DATATRAK (United States), Veeva Systems (United States), DSG (United States) and MasterControl (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are ERT (United States), Forte Research Systems (United States), MedNet Solutions (United States), ArisGlobal (United States), Anju Software (United States), MaxisIT (United States) and Techsol Corporation (United States).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Risk-Based Monitoring Software market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Risk-Based Monitoring Software market by Type, Application and Region.
On the basis of geography, the market of Risk-Based Monitoring Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Cost Efficient and Time Efficient of Risk-Based Management Solutions
- Rising Number of Clinical Trials
- Technological Advancements in Software
- Increasing Implementation Costs
- Growing Outsourcing of Clinical Trial Processes to CROs
- Lack of Skilled Professionals for Operating RBM Solutions
Market Leaders and some development strategies
On January 2020, Google has acquired Appsheet which is the intelligent no-code platform for business apps.
Key Target AudienceSoftware developers, Government associations, Research organisations, software vendors and Others
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