(PharmaNewsWire.Com, January 19, 2017 ) Rise in advanced technologies and rapid innovations in clinical trial data management enables create opportunities for the companies which are striving to plunge into eTMF market. Electronic Trial Master File (eTMF) specialized enterprise content management system, which enables maintain clinical trial content. Pharmaceutical and Biopharma companies are inclined towards eTMF from paper based document management system. The organizations which are adopted to eTMF can achieve higher clinical trial productivity along with cost saving methods and shorten the time line. However, eTMF offers operational efficiency, there is no standard method for storage, classification and exchange of eTMF documents in clinical trials. eTMF electronic documents archives offers exchange of electronic documents among the industry stakeholders. eTMF enables to eliminate the manual paper handling tasks such as classification, acquisition of data, index, and archiving of documents & mails. The eTMF ensures quality along with lower cost. The global eTMF market anticipated to exhibit a significant CAGR as well as annual growth rate over the forecast period.
eTMF Market: Drivers and restraints
The eTMF market can be driven by the following factors, the regulatory bodies of U.S, European Union and Japan along with International Conference on Harmonization (ICH) published a minimum set of documents for TMF. The documents are mandatory for the registration of any pharmaceutical products which are designed for human use. Regulatory bodies has a great impact on eTMF market. The regulatory bodies made it mandatory to submit eTMF may propels global eTMF market. Pharmaceutical companies are inclined towards contract research organizations (CRO) to conduct the clinical trials. Rise in the adoption CRO’S towards innovative technologies to conduct clinical trials enables to offers lucrative opportunities for the global eTMF market.
However, lack of skilled professionals is the major bottleneck for the market and moreover eTMF is costlier, which may hamper the global eTMF market.
Global eTMF market is gaining importance across the globe due to increased awareness among pharma and biopharma industry in order to conduct the clinical trials effectively. The eTMF has many advantages such as eliminate the manual work and enhances the quality of work. The global eTMF market expected to witness a significant CAGR as well as annual growth rates over the forecast period.
Global market is segmented into seven key regions, those are North America (N.A), Western Europe (W.EU), Latin America (L.A), Eastern Europe (E.EU), Asia-Pacific Excluding Japan (APEJ), Japan, and Middle East and Africa (MEA).
North America is anticipated to have a maximum market share in global market due to increased awareness among the CRO’s as well as pharmaceutical companies in US and Canada. Asia-Pacific follows North America in terms of market share in global eTMF market owing to the drastic change in Asian countries economy as well as pharma industries in India and china. Multi-National companies are entered into strategic collocations in asia region in order to gain economic advantage. Europe is having a considerable contribution in global eTMF market due to stringent regulations in the region. The global eTMF market is anticipated to unlock the potential of market over the forecast period
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