According to a new market research report published by Credence Research “Electronic Batch Record Software Market (Deployment Model – On-premise and Hosted; End-user – Pharmaceuticals, Biotechnology, Food & Beverages, Chemicals & Polymers, Consumer Products and Others (Oil & Gas, Automobile etc.)) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025”, the global electronic batch records (EBR) software market is set to register double digit growth over the forecast period 2017 to 2025.
Pharmaceuticals and biotechnology are among the industry verticals bound by stringent regulations enforced across manufacturing as well as research and development. Very few industries are required to maintain such high level of process accountability, transparency and control as compared to that followed by the pharmaceuticals industry. As part of these regulations (e.g. U.S. FDA 21 CFR Part 11), pharmaceutical companies are required to maintain records of each product being manufactured at the facility. Conventionally, batch records were paper-based consuming substantial amount of time, efforts, storage space and human resource. Additionally, due to higher human interference, paper-based manual batch record management is more prone to errors. Subsequently, electronic batch record software has emerged as a viable solution for simplifying the overall record management with minimized errors.
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One of the most prominent factors driving the electronic batch records software market is the consistently growing adoption of process automation across different industry verticals. Due to growing emphasis on effective quality management, several healthcare organizations have embraced automated software solutions that facilitates seamless process control. With growing power of computing, efficient quality management software have evolved coupled with minimized cost of digital storage. This has significantly encouraged different organizations to shift to electronic quality management solutions (such as EBR). Some of the major advantages of using EBR are as listed below:
- Enhanced visibility through processes
- Reduced inventory wastage
- Improved accuracy and consistency
- Reduced data entry errors
- Substantial return on investment
- Reduced cycle time
- Better compliance with the regulations
- Improved decision making
- Reduced operating costs
To Know More About Assumptions Considered For The Study Read Full Description: http://www.credenceresearch.com/report/electronic-batch-record-ebr-software-market
The overall electronic batch records software market is categorized on the basis of deployment model, end-user and geographic regions. On the basis of deployment model, the EBR market is segmented into on-premise and hosted EBR. Based on its end-users, the market is categorized into pharmaceuticals, biotechnology, food & beverages, chemicals & polymers, consumer products and others (oil & gas, automobile etc.). In 2016, the overall EBR software market worldwide was led by pharmaceuticals segment accounting for more than 40% of the global market value. Stringent regulations enforced on pharmaceutical companies for effective quality management is the prime factor supporting the segment growth. Geographically, the market was led by North America with market share of more than 1/3rd of the global market value, in 2016.
Some of the major players operating in the market include Siemens AG, Sparta Systems, Inc., QUMAS, SAP SE, Emerson Electric Company, Oracle Corporation, MAXLife Life Sciences Software, MasterControl, Inc., Honeywell International, Inc., Schneider Electric SE, ABB Ltd., Accelrys, Inc., Werum IT Solutions GmbH, Deem Sensing Technologies Pvt. Ltd., MetricStream, Inc., LZ Lifescience and others.
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