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The growing need for RegTech in the Pharmaceutical Industry

July 02, 2019

We first witnessed the emergence of RegTech shortly after the economic plunge of 2008. The financial disaster spurred an increase in regulation in the finance and banking industries, and as a result, companies began to shell out billions in compliance costs. To stay compliant, while also working within the framework of a finite amount of resources, companies began turning to technology – regulatory technology. Since then, the industry has grown dramatically and is expected to be a $12.3 billion industry by 2023.