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(Health-NewsWire.Net, June 20, 2020 ) [112 Pages Report] The Electronic Trial Master File (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%.
Growth in the eTMF systems market can be attributed primarily to the rising adoption of eTMF systems, rising 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
Market Size Estimation;
Both top-down and bottom-up approaches were used to estimate and validate the total size of the eTMF systems market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes
Browse 79 market data Tables and 27 Figures spread through 112 Pages and in-depth TOC - Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=94357456
Market Segmentation in Depth:
Based on delivery mode, the market is segmented into on-premise and cloud-based eTMF. In 2018, the cloud-based eTMF segment accounted for the largest share of the market. The large share of this segment is primarily due to the flexible, scalable, and affordable nature of this delivery mode.
Based on the component, the market is segmented into services and software. The services segment accounted for the largest market share in 2018. The large share of this segment can be attributed to their indispensable nature and repetitive requirement. End-users of eTMF systems rely heavily on service providers for consulting, data storage, implementing services, training, maintenance, and regular upgrades of solutions.
Market Growth Drivers:
- Rising Adoption of eTMF Systems
- Rising Number of Clinical Trials
- Rising Government Funding and Grants to Support Clinical Trials
- Increasing R&D Expenditure By Pharma-Biotech Companies and It Expenditure Allocations
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Geographical Regions Mapped in Report:
Geographically, the eTMF systems market is divided into North America, Europe, Asia Pacific, and the Rest of the World (RoW). The North American market accounted for the largest share of the 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
Some key players mentioned in the research report are:
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).
360Quadrants
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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