(PharmaNewsWire.Com, September 17, 2021 ) According to the new market research report “Electronic Trial Master File Systems Market by Component (Services, Software), End-User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations), Delivery Mode (On-Premise, Cloud-Based), and Region – Global Forecast to 2024″, published by MarketsandMarkets™, the eTMF systems market is projected to reach USD 1.8 billion by 2024 from USD 1.0 billion in 2019, at a CAGR of 12.7%
Browse in-depth TOC on “Electronic Trial Master File (eTMF) Systems Market“
The Factors such as rising adoption of eTMF systems, rising number of clinical trials, partnerships between biopharma companies and CROs, rising funding to support clinical trials, and the growth in the R&D spending by pharma & biotech companies are driving the growth of the eTMF Systems Market.
The cloud-based eTMF to register the highest CAGR during the forecast period
Based on delivery mode, the eTMF Systems Market is segmented into on-premise and cloud-based eTMF. The cloud-based eTMF segment is expected to register the highest CAGR during the forecast period. Growth in this segment can be attributed to the comparatively lower capital expenses & operational costs incurred in this model, alongside its scalability, flexibility, and affordability.
Cloud-based solutions help healthcare organizations share and integrate information from different locations, making the process of data gathering seamless. Moreover, these solutions are comparatively affordable to install and maintain as compared to on-premise solutions, thus contributing to the high growth and popularity of the cloud-based delivery model.
North America dominated the Electronic Trial Master File Systems Market in 2018; this trend to continue during the forecast period
Geographically, segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). The North American market accounted for the largest share of the Electronic Trial Master File (eTMF) Systems Market in 2018, primarily due to the increasing government funding for clinical research and a large number of clinical trials. Several major global players are also based in the US, owing to which the country has become a center of innovation in the eTMF Systems Market
Veeva Systems (US), Oracle Corporation (US), Phlexglobal Limited (UK), TransPerfect Global Inc. (US), Aurea Software (US), LabCorp (US), ePharmaSolutions (US), Wingspan Technology, Inc. (US), MasterControl (US), SureClinical, Inc. (US), Dell EMC (US), Paragon Solutions (US), PharmaVigilant (US), Mayo Clinic (US), Database Integrations, Inc. (US), CareLex (US), Ennov (France), Forte Research (US), Freyr (US), Montrium (US), NCGS Inc. (US), SAFE-BioPharma (US), SterlingBio Inc. (US), BIOVIA Corp. (US), and arivis AG (Germany) are the key players in the Electronic Trial Master File (eTMF) Systems Market
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