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Revenue Growth by 14.0% CAGR Predicted for Electronic Trial Master File (eTMF) Market by 2027
Global Electronic Trial Master File (eTMF) Market: Dynamics Impacting Growth
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.
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Global Electronic Trial Master File (eTMF) Market: Segmental Highlights
In this research study, global electronic trial master file (eTMF) market is segmented by component, by deployment, by end user, by functionality and by region.
By component, software segment is expected to lead the market in terms of value and is estimated to reach US$ 130.7 Mn 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 Contract Research Organization (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 US$ 970 Mn 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 US$ 130 Mn by 2027 end
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Global Electronic Trial Master File (eTMF) Market: Forecast Analysis
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 US$ 51 Mn and is estimated to reach a valuation of around US$ 190 Mn by the end of 2027.
Global Electronic Trial Master File (eTMF) Market: Competitive Scenario
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, Inc.,MasterControl, Inc.,Data Reduction Systems Corporation,Transperfect Global Inc., Aurea, Inc.,Phlexglobal Ltd., Arivis AG,Wingspan Technology Inc., and Montrium Inc.,are profiled in this section.
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