Global Regulatory Reporting & Compliance Industry to 2026 – Growing Demand for Faster Approval Process Drives Market – ResearchAndMarkets.com
DUBLIN – (COMMERCIAL THREAD)–The “Regulatory Reporting and Compliance Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” report was added to ResearchAndMarkets.com offer.
The studied regulatory and compliance reporting market is expected to grow at a CAGR of 9.17%, during the forecast period.
Smith & Nephew plc.
Johnson & johnson
Boston Scientific Society
CR Bard, Inc.
Wright Medical Group NV
Globus Medical inc.
DENTSPLY SIRONA Inc.
Zimmer Biomet Holdings Inc.
Key market trends
Regulatory Reporting Outsourcing and Compliance Services Segment is expected to hold significant market share during the forecast period
Outsourcing regulatory reporting and compliance means contracting with a third party in the form of an agreement or arrangement to manage these particular segments for the business. Regulatory functions are difficult in a highly regulated industry and hiring a third party to provide for these functions has become increasingly important to thrive in a competitive and innovative industry such as healthcare. The need to maintain compliance, obtain approval for new products, early market release, reporting and submissions require significant budgets.
The regulatory reporting and compliance outsourcing market has been fueled by the availability of technology-assisted solutions such as automated software, big data management software, etc. Additionally, in January 2021, Genpact Ltd announced that it had acquired “Enquero,” a data-driven digital transformation engineering and services organization company. The acquisition will increase Genpact’s ability to leverage data and cloud technologies to drive digital transformation services through advanced analytics. Additionally, organizations like Celegence, Freyr Solutions offer a wide range of regulatory services ranging from publishing, labeling, compliance consulting, regulatory operations management and so on to life science organization. life with their software-assisted solutions to large organizations. As the integration of information technology for regulatory reporting and compliance drives the outsourcing segment, the demand is expected to increase during the forecast period.
North America holds a significant share of the market and is expected to grow during the forecast period
North America along with the United States has a very well developed, advanced and regulated healthcare infrastructure. The North America region dominates the regulatory reporting and compliance market with the largest regulatory authority, the United States Food and Drug Administration (USFDA). With the significant presence of multinational pharmaceutical, biotechnology and medical device companies engaged in the manufacturing and marketing of innovative products. The need for advanced regulatory reporting and compliance solutions is growing, making North America a preferred region for players.
In addition, according to the April 2020 World Trade Organization (WTO) report, the United States was the largest importer of medical products during the period 2017-2019, accounting for 19% of total world imports of medical products. This implies that more of the pharmaceutical and medical device organizations from other parts of the world are entering the United States, generating a need for faster regulatory approval from the United States Food and Drug Administration (USFDA ) to gain a competitive advantage. This would ultimately increase the demand for technologically advanced software solutions services in the regulatory reporting and compliance market. Thus, a large number of life science players and a technologically advanced infrastructure encourage players to enter the North American regulatory reporting and compliance market.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market overview
4.2 Market drivers
4.2.1 Growing demand for a faster approval process
4.2.2 Constantly evolving regulatory landscape
4.2.3 Digitization of regulatory processes
4.3 Market restrictions
4.3.1 Lack of advanced technological infrastructure in developing countries
4.3.2 Complicated local and global regulatory standards
4.4 Porter’s five forces analysis
5 MARKET SEGMENTATION
5.1 By type of service
5.2 By type of service provider
5.3 By the end user
5.4 By geography
6 COMPETITIVE LANDSCAPE
6.1 Company profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report, visit https://www.researchandmarkets.com/r/u7kf1k