Electronic Trial Master File (eTMF) Market to reach US$ 3,155.64 million by 2027

Electronic trial master file (eTMF) systems can be defined as an integration of software and hardware components collectively responsible for the optimal management of clinical trial data. These solutions help to streamline the data generated during the course of a clinical trial in an easy-to-store digital format, which can be retrieved by dissimilar users beneficial in easy accessibility and reduction the cost associated with the administrative and manual data maintenance operations in clinical trials.

The electronic trial master file market, by delivery mode, is segmented into cloud-based eTMF, and on-premise eTMF. The cloud-based eTMF segment held the largest share of the market in 2019. Moreover, the same segment is estimated to register the highest CAGR of 17.0% in the market during the forecast period. The greatest advantage of the cloud-based eTMF is that various users across the world can access it. The cloud-based software is secured and cost-effective solutions, it allows easy collaboration with sites and regulatory bodies such as Institutional Review Boards (IRBs) and Independent Ethics Committees (IECs) and others. The advantages offered by the cloud-based eTMF software are expected to influence the growth of the market during the forecast period.

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Based on end-user, the electronic trial master file market is segmented into pharmaceutical and biotechnology companies, CROs, and others. The pharmaceutical and biotechnology companies segment held the largest share of the market in 2019. However, CROs segment is estimated to register the highest CAGR of 17.4% in the market during the forecast period. These solutions help the pharmaceutical and biotechnology to organize the data of drug development appropriately, avoiding the regulatory risk of missing files during audits. The rising R&D budgets and advantages offered by eTMF are thus expected to be responsible for the growth of the pharmaceutical and biotechnology companies segment over the coming years.

Leading companies operating in the electronic trial master file (eTMF) market are Covance Inc (Lab Corp), Oracle, Ennov, Mastercontrol, Inc., Omnicomm, Pharmavigilalnce, Veeva Systems, and Phlexglobal, Aurea, Inc and TRANSPERFECT among others.

The market for electronic trial master file (eTMF) is expected to grow, owing to factors such as rising in number of clinical trials and rising adoption of eTMF. Moreover, strategic initiatives by market players are likely to have a positive impact on the growth of the market in coming years. Besides, digitalization of clinical trials is expected to be a prevalent trend in the market.

In 2019, the services segment accounted for the largest market share in the global electronic trial master file market, by component. This is primarily attributed the increasing number of increasing R&D expenditure and adoption of eTMF technology. Moreover, the encouragement received towards government funding under appropriate regulatory supervision is also one of the important parameters facilitating the growth of this segment. Another factor responsible for the growth of the service segment include usage of electronic clinical trial systems, adopting the outsourcing trend due to lengthy process involved, lack of intelligence for drug development within the company and unavailability of appropriate equipment and facility to conduct clinical trials.

The research provides answers to the following key questions:
 
1. What is the estimated growth rate of the market for the forecast period 2020–2027? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the Electronic Trial Master File (eTMF) market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Electronic Trial Master File (eTMF) market?
4. What are the prominent market trends influencing the development of the Electronic Trial Master File (eTMF) market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the Electronic Trial Master File (eTMF) market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?
 
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