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Allied Market Research

Risk-based Monitoring Software Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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May 2020 | 93 Views
 
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COVID-19

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Risk based monitoring software market is expected to grow in the upcoming years due to factors such as efficiency in time and cost made by the risk- based monitoring software. Increase in number of clinical trials and rise in the government funding is boosting the growth of risk -based monitoring software market. 

Risk-based-Monitoring-Software

Risk based monitoring software is a software used in clinical trial monitoring which fulfills the regulatory requirements. However, it moves away from the source data verification (SDV) of the patient data.it identifies the signals with use of various platforms, tools and dashboards which are used in solving the issues related to the clinical trial safety, data integrity and compliance. This risk -based monitoring software helps in focusing on trials without risks on high valued tasks.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

 Forecast units

  Value (USD)

  Segments covered

  Type, Component, Delivery Mode, End User and Region.

  Geographies covered

North America (US and Canada), Europe (Germany, UK, France, Spain, Italy and the Rest of Europe), Asia Pacific (China, India, Japan, Australia and the Rest of Asia Pacific), LAMEA (Brazil, South Africa, Saudi Arabia, Rest of LAMEA).

  Companies covered

Parexel, Oracle, Medidata Solutions, Bioclinica, Bio-Optronics, IBM Corporation, MasterControl, DATATRAK, Forte Research Systems, MedNet Solutions, ArisGlobal, Anju Software, DSG.

 

COVID-19 scenario analysis:

To take care of infected population the demand for medical supplies is increasing. Respiratory support devices such as atomizer, life-support machine, oxygen generator, and monitor are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. With rise in number of COVID-19 cases worldwide, the need for medical supplies keeps on rising among, both from healthcare professionals and civil population for precautionary measures. Manufacturers of these products have a chance to capitalize this increased demand of medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. Considering these factors, COVID -19 is expected to have significant impact on Risk-based Monitoring Software Market.

Top Impacting factors:

  • Factors such as high efficiency of the risk- based monitoring software related to time and cost is expected to grow the risk -based monitoring software market in upcoming years.
  • Rise in government funding and increase in grants provided for clinical trials has risen the number of clinical trials in the healthcare sector. Thus, it has driven the market of risk-based monitoring software due to its high demand.
  • Restrain factors such as high implementation cost regarding with risk -based monitoring software can restrain the growth of risk-based monitoring software market in the upcoming years.

New Product Launch / News:

  • In 2019, Veeva Systems, acquired Crossix Solutions , service provider in privacy-safe US patient data and best-in-class analytics platform to  meet the excellence in maximizing  media and effectiveness in marketing.
  • In 2019, Parexel International Corporation, made a partnership with Datavant to enable the connection of real-world data across all clinical trials conducted by Parexel International Corporation.

Key Segments Covered:

Segments

Sub-segments

  By Type

  • Enterprise Risk-based Monitoring Software
  • Site Risk-based Monitoring Software

  By Component

  • Software
  • Services

  By Delivery Mode

  • Web-based (On-demand)
  • Licensed Enterprise (On-premise)
  • Cloud-based (SaaS)

  End User

  • Pharmaceutical & Biopharmaceutical Companies
  • Medical Device Companies
  • Contract Research Organizations
  • Other End Users

  Geography/Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • South Africa
  • Saudi Arabia
  • Rest of LAMEA

 

Key benefits of the report:

  • This study presents the analytical depiction of the Global Risk-based Monitoring Software Market along with the current trends and future estimations to determine the investments.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Risk-based Monitoring Software Market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the Risk-based Monitoring Software Market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed Risk-based Monitoring Software Market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the Risk-based Monitoring Software Report: 

  • What are the leading market players active in Risk-based Monitoring Software Market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
  • What Segments and region will drive the market growth & why?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
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  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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