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Posted by smithmorgan on August 26, 2024 at 10:16am 0 Comments 0 Likes
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The global Regulatory Affairs Market size is expected to reach USD 26.0 billion by 2030, expanding at a CAGR of 8.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The factors expected to contribute to the growth of this market include changing regulatory requirements based on business activities and geographies, an increase in clinical trials & drug approvals along with accelerated regulatory approval, and technological advancement in regulatory software. Also, the evolution of personalized medicines, the increasing need for companies to focus on core business activities, and economic and competitive pressures are other factors that are contributing to the growth of the market.
The pharmaceutical and regulatory agencies joined forces to rapidly develop vaccines and medical products required to fight against the COVID-19 infection. The regulatory authorities take numerous precautions to ensure patient and personnel safety during a clinical trial, as well as data integrity and good laboratory practices are maintained. Growth in markets for biosimilars, orphan drugs, personalized medicines, companion diagnostics, and adaptive trial designs is projected to boost the demand for regulatory specialization in these areas. As companies venture into newer fields, the growing need to comply with regulations is boosting the demand for specialized service providers with expertise in regulatory affairs. Patent expiration of biologics, such as Simulect, Vectibix, Mircera, and Kineret, is increasing the demand and development of biosimilars, thereby contributing to the demand for regulatory services.
Several companies are actively involved in collaborations and new product development to gain leadership in the personalized medicine market, indicating a need for supportive regulatory affairs. For instance, in May 2020, Regeneron Pharmaceuticals, Inc. collaborated with Colorado Center for Personalized Medicine to design advancements in personalized medicine and human genetics.
List of Key Players of Regulatory Affairs Market
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Regulatory Affairs Market Report Highlights
Related Press Release@ Regulatory Affairs Market Report
Report Attribute |
Details |
Market size value in 2024 |
USD 16.22 billion |
Revenue forecast in 2030 |
USD 26.00 billion |
Growth rate |
CAGR of 8.2% from 2024 to 2030 |
Actual data |
2018 - 2023 |
Forecast period |
2024 - 2030 |
Regulatory Affairs Market Segmentation
Grand View Research has segmented the global regulatory affairs market on the basis of services, categories, indications, stages, types, company size, End Use, and region:
Regulatory Affairs Type Outlook (Revenue, USD Billion, 2018 - 2030)
Regulatory Affairs Services Outlook (Revenue, USD Billion, 2018 - 2030)
Regulatory Affairs Categories Outlook (Revenue, USD Billion, 2018 - 2030)
Regulatory Affairs Indication Outlook (Revenue, USD Billion, 2018 - 2030)
Regulatory Affairs Product Stage Outlook (Revenue, USD Billion, 2018 - 2030)
Regulatory Affairs Company Size Outlook (Revenue, USD Billion, 2018 - 2030)
Regulatory Affairs End Use Outlook (Revenue, USD Billion, 2018 - 2030)
Regulatory Affairs Regional Outlook (Revenue, USD Billion, 2018 - 2030)
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