An electronic trial master file (eTMF) system is in a digital format containing a master file and an essential file. An electronic trial master file helps the clinical research team to remotely access, exchange and manage the data using electronic devices. These systems support sharing documents, are work efficient and prevent delays. The electronic trial master file system is cost-effective, flexible and can be remotely accessed from different locations.
With the rise in the clinical trials, quick adoption of eTMF systems and partnerships between pharmaceutical and biotechnology companies and contract research firms is fueling the demand for electronic file transfer system. Pharmaceutical and biotechnology companies are investing in the growth of research and development.
According to the MarkNtel Advisors’ research report “Global Electronic Trial Master File (eTMF) Systems Market Analysis, 2020”, is expected grow at a CAGR of around 12% during 2020-25.
Asia-Pacific emerging as a Lucrative Market for eTMF System
With the growing use of cloud-based technology in North America, the region held the largest market share in 2019 and is expected to remain dominant during 2020-25. Around 1,891 Exabyte cloud traffic is generated every year by North America with low cost of cloud platform. However, Asia-Pacific is witnessing an exponential growth in the eTMF systems market with the ongoing advancements taking place in the pharmaceutical sector coupled with magnifying the use of cloud-based platforms. Total worldwide IT spending on cloud services accounted to be around USD 214.3 billion as compared to 182.4 billion in 2018 with a growth of around 17.5%. China and India are showing substantial growth as these markets sell better quality medicines at cheaper rates. Thus Asia-Pacific is projected to drive the overall eTMF systems market during 2020-25.
The pharmaceutical and biotechnology companies segment is attributed to hold a larger market in 2019 as compared to all other segments with the increased use of eTMF software in clinical project management with research and development budgets.
The software segment is the largest as the owners depend upon the service providers for training and updates. Moreover, manufacturers are taking initiative in developing innovative eTMF systems, as revealed by MarkNtel Advisors’ in their research report, “Global Electronic Trial Master File (eTMF) Systems Market Analysis, 2020”.
According to the MarkNtel Advisors the major leading players are Oracle Corporation, Veeva Systems, Mastercontrol, Transperfect, Sureclinical, Lab Corp, Mayo Clinic, BIOVIA Corp., Aurea Software, Wingspan Technology among others.
PRC clinical plans to use Veeva Vault eTMF systems for the clinical study and teams offering multi-level management processes.
“Global Electronic Trial Master File (eTMF) Systems Market Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and opportunities and challenges available for electronic trail master file systems providers across the globe. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.
1. By Component (Service and Software)
2. By Mode of Delivery (Cloud Based and On-Premise)
3. By End User (Contract Research firms and Pharmaceutical and Biotechnology Companies)
4. By Region (North America, Latin America, Europe, Middle East and Africa and Asia-Pacific)
5. By Country (United States, Canada, Mexico, Brazil, Germany, United Kingdom, Spain, France, GCC, South Africa, China, India, Japan, Australia)
6. By Company (Oracle Corporation, Veeva Systems, Mastercontrol, Transperfect, Sureclinical, Lab Corp, Mayo Clinic, BIOVIA Corp., Aurea Software, Wingspan Technology)
Key questions answered in the study:
1. What are the current and future trends of the global electronic trail master file systems market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the global electronic trail master file systems market industry?
6. What are the customer orientation, purchase behavior, and expectations from global electronic trail master file systems suppliers across various regions?