Report: Electronic Trial Master File (eTMF) Market to Touch $190M by 2027
Wednesday, November 8, 2017
Future Market Insights has analyzed numerous aspects of the electronic trial master file (eTMF) market and has included actionable insights in a systematic manner in its new research publication titled, “Electronic Trial Master File (eTMF) Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027).” The extensive research study on eTMF market portrays various facets of the global market such as trends, opportunities, value chain analysis, competitive landscape, drivers, restraints, regional analysis along with key recommendations that can be considered by the reader to achieve his/her strategic objectives in the long run. The research study also covers future market projections with respect to value for a period of ten years starting from 2017 till 2027. The comprehensive analysis on each segment and sub segment of the global market portrays a real time picture of the global market scenario.
There are numerous aspects that influence the growth of the global market for electronic trial master fie (eTMF). Factors such as business benefits for various organizations, government regulations making electronic trial master file (eTMF) mandatory, creation of common platforms for trial management that can lead to increased sales of the eTMF platform, integration of eTMF application with CTMS system, increased adoption of eTMF in clinical trials coupled with increased research related to life sciences, improvement in electronic trial master file (eTMF) applications and increased research and development budget and rising awareness are pushing the growth of the global electronic trial master file (eTMF) market. However, the market is not void of limitations. Challenges faced by the market include duplication and maintaining eTMF in its entirety that are restraining the growth of the global market.
By component, software segment is expected to lead the market in terms of value and is estimated to reach $130.7 million by the end of the assessment year. The services segment in this category is projected to grow at the highest pace during 2017-2027
By deployment, the cloud segment is highly lucrative and is adopted on a large scale. It is projected to grow at the fastest CAGR of 16.4% throughout the forecast period and is estimated to reach a noteworthy valuation by the end of the assessment year
By end user, the CRO segment is anticipated to grow at a higher pace in the coming years to register a CAGR of 15.6% during the period of assessment
By functionality, clinical operations segment is poised to dominate the market in terms of value and is estimated to reach a higher valuation of about $970 million by the end of the assessment period. The auditing segment is projected to grow at a faster pace than other segments in the coming years
By region, Asia Pacific excluding Japan (APEJ) is expected to show higher growth pace in the eTMF market whereas North America is likely to lead the market with a value a bit less than $130 million by 2027 end
According to the analysis carried out in the research report, the global electronic trial master file (eTMF) market is anticipated to grow at a robust rate to register a CAGR of 14.0% throughout the period of assessment, 2017-2027. In 2017 this market was valued at about $51 million and is estimated to reach a valuation of around US$ 190 million by the end of 2027.
The research study includes a dedicated chapter on competitive scenario which deals with various key players involved in the eTMF market. Analysis on aspects such as SWOT analysis, geographical reach, strategies, product portfolio, expansion plans, mergers and acquisitions, key developments, distribution channel analysis etc., of the key players have been covered in this study. Companies like Veeva Systems, Medidata Solutions, MasterControl, Data Reduction Systems, Transperfect Global, Aurea, Phlexglobal, Arivis, Wingspan Technology and Montrium are profiled in this section.