The World Market for Electronic Trial Master File (eTMF) Systems (2019-2024): A $1.8 Billion Industry Opportunity by 2024 - ResearchAndMarkets.com

DUBLIN--()--The "Electronic Trial Master File (eTMF) 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" report has been added to ResearchAndMarkets.com's offering.

The electronic trial master file (eTMF) systems market is projected to reach USD 1.8 billion by 2024 from USD 1 billion in 2019, at a CAGR of 12.7%.

Market Dynamics

Drivers

  • Rising Adoption of eTMF Systems
  • Rising Number of Clinical Trials
  • Rising Government Funding & Grants to Support Clinical Trials
  • Increasing R&D Expenditure by Pharma-Biotech Companies & IT Expenditure Allocations

Restraints

  • Budget Constraints

Opportunities

  • Emerging Asian Markets

Challenges

  • Clinical Data Privacy

The eTMF systems market is projected to grow at a CAGR of 12.7% during the forecast period

Growth in the eTMF systems market can be attributed primarily to the rising adoption of eTMF systems, a growing number of clinical trials, partnerships between biopharma companies & CROs, increasing funding to support clinical trials, and the growth in the R&D spending by pharma & biotech companies. Emerging countries are expected to provide significant opportunities for players in the market. However, budget constraints, data privacy issues, and a dearth of skilled professionals will challenge market growth in the coming years.

The software segment is expected to grow at the highest CAGR during the forecast period

Based on the component, the eTMF systems market is segmented into software and services. The software segment is projected to grow at the highest CAGR during the forecast period due to the availability of advanced eTMF software, increasing the focus of industry players to develop innovative eTMF systems and the growing demand for eTMF software in developing countries.

The pharmaceutical & biotechnology companies segment accounted for the largest share of the eTMF systems market, by end-user, in 2018

Based on end-user, the eTMF systems market is segmented into pharmaceutical & biotechnology companies, contract research organizations (CROs), and other end-users (medical device companies, academic research institutes, and consulting service companies). In 2018, the pharmaceutical & biotechnology companies segment accounted for the largest market share, owing to the increasing application of eTMF software in clinical project management and the availability of huge R&D budgets with large pharmaceutical & biotechnology companies.

Increasing government funding for clinical research and a large number of clinical trials in North America to support the growth of the eTMF systems market in North America

Geographically, the eTMF systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest share of the eTMF systems market in 2018. The large market share of North America in the eTMF systems market can be attributed to the increasing government funding for clinical research, a large number of clinical trials, and the presence of several major players in the US.

The major players in this market include 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).

Company Profiles

  • Veeva Systems
  • Oracle Corporation
  • PhlexGlobal
  • TransPerfect
  • Aurea Software
  • LabCorp
  • ePharmaSolutions
  • Wingspan Technology
  • MasterControl
  • SureClinical

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900