Global Risk-based Monitoring Software Market is valued approximately USD 241 million in 2019 and is anticipated to grow with a healthy growth rate of more than 13.30 % over the forecast period 2020-2027. Risk-based Monitoring Software ensures the quality of clinical trials by assessing, identifying, mitigating and monitoring the risks that could affect the quality or safety of a study. Also, it is a powerful technology, technology-based approach that maximize the use of the company’s data allowing to make smarter decisions related to allocation of resources. In addition, effective monitoring of clinical trials is a significant step while conducting quality studies and protecting human subjects. As a result, monitoring procedures such as risk-based monitoring systems ensure subject safety and clinical studies quality, making them essential components of the process. The growth of the market is witnessed due to the rising number of clinical trials and rising government grants and funding to support clinical trials. As per the data published by Statista as of October 2019, there were around 318,901 thousand clinical studies registered globally which was earlier approx. 2,119 in 2000. As clinical trials have grown more complex in recent years and is considered as a vital for the research and development of new drugs and products. Thus, the need for risk-based monitoring software is observed as it provides information on tools available for risk monitoring, assessment and other relevant details as user feedback and links. However, high implementation costs is hampering the growth of this market. Further, the key players are focusing on strategies such as merger & acquisition, innovation and product launch, to sustain themselves amidst fierce competition.

The regional analysis of global Risk-based Monitoring Software market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region as increased adoption of RBM software solutions for clinical trials. Also, increasing presence of Risk-based Monitoring Software vendors, is expected to create positive outlook for the growth of the region. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.

Major market player included in this report are:
Oracle Corporation
Medidata Solutions
IBM Corporation
Veeva Systems
Techsol Corporation
Mednet Solutions
Covance Inc.
CRF Health

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Enterprise RBM Software
Site RBM Software
By Components:
By Delivery Mode:
Web-Based (On-Demand)
Licensed Enterprise (On-Premises)
Cloud-Based (SAAS)
By End-User:
Pharmaceutical & Biopharmaceutical Companies
Contract Research Organizations (CROS)
Medical Device Companies
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Risk-based Monitoring Software Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers