Meticulous Research®—a leading global market research company, published a research report titled, ‘Pharmaceutical Quality Management Systems Market by Solution (Deviation, CAPA, Audit, Inspection, Document, Supplier, Risk, Training, Change Management), Deployment Mode (On-Premises, Web/Cloud), End User (Pharmaceutical, CRO) - Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the global pharmaceutical quality management systems market is projected to reach $3.97 billion by 2030, at a CAGR of 15.6% during the forecast period 2023–2030. An increase in drug manufacturing costs, stringent regulations, increasing investments in digital tools, and the growing need to reduce overall process costs are the key factors driving the growth of this market.
Pharmaceutical Quality Management Systems Market: Future Outlook
The global pharmaceutical quality management systems market is segmented by solution type, deployment mode, end user, and geography. The study also evaluates industry competitors and analyzes their market shares at country and regional levels.
Based on solution type, in 2023, the non-conformance/deviation management segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the increasing importance of deviations and non-conformance from a regulatory point of view. Process deviation and non-conformance records are critical and can affect the product approval for manufacturing or sale. Thus, many pharmaceutical players work with quality management systems (QMS) to comply with regulatory rules and avoid deviations and non-conformance.
Based on deployment mode, the cloud/web-based segment is projected to record the fastest growth rate during the forecast period. Cloud and web-based deployments have become increasingly popular. The strong shift of businesses from on-premise to cloud and web-based systems can be attributed to several benefits associated with cloud-based systems, which include quick and easy scalability, large data storage, easy access, and increased flexibility.
Based on end users, in 2023, the pharmaceutical, life sciences, and biotechnology companies segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the increasing adoption of quality management systems in pharma and biotech companies. Furthermore, mounting pressures to increase production capacity, stringent regulations, and an increase in drug manufacturing costs are some of the factors triggering the adoption of quality management systems in pharmaceutical and biopharmaceutical companies.
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.
In 2023, North America is expected to account for the largest share of the pharmaceutical quality management systems market. The large market share of this region is primarily driven by the increasing use of advanced digital tools approved by regulatory authorities in the pharmaceutical sector to improve overall process outcomes. Furthermore, the presence of major market players in the region has also contributed to its large market share. Pharmaceutical players operating in the U.S. and Canada are the leading adopters of newer technologies and understand the value of quality management systems in improving business performance to gain a competitive advantage in the global pharmaceutical market. Along with this, the high spending power of small and midsized organizations strongly supports the adoption of quality management systems in the region.
Key players operating in the global pharmaceutical quality management systems market are ANTARES VISION SpA (Italy), AssurX Inc.(U.S.), AXSource (U.S.), CLARIVATE PLC (U.K.), ComplianceQuest (U.S.), Dassault Systemes (France), EtQ Management Consultants Inc.(U.S.), Honeywell International Inc.(U.S.), Ideagen PLC (U.K.), IQVIA HOLDINGS INC.(U.S), LogicGate Inc.(U.S.), and MasterControl, Inc.(U.S.)
Download PDF Brochure @ https://www.meticulousresearch.com/download-sample-report/cp_id=5398
Key questions answered in the report-
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Dental Practice Management Software Market Worth $ 3.11 Billion by 2029Read More