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(Health-NewsWire.Net, November 04, 2020 ) The study involved four major activities in estimating the current size of the electronic trial master file (eTMF) systems market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
According MarketsandMarkets Research - The Electronic Trial Master File 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%.
The Key Factors Who will Drives the Market Growth?
- 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
- Emerging Asian Markets
Critical questions addressed in research report:
- Where will all these developments take the industry in the mid to long term?
- What are the upcoming electronic trial master file (eTMF) systems?
- Which of the end-user segments will dominate the electronic trial master file (eTMF) systems market in the future?
- Emerging countries have immense opportunities for the growth and adoption of electronic trial master file (eTMF) systems. Will this scenario continue in the next five years?
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Market Segmentation in Detailed:
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 end-user, the Electronic Trial Master File 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). The pharmaceutical & biotechnology companies segment accounted for the largest market share in 2018. The increasing applications of eTMF software in clinical project management and the availability of substantial R&D budgets with large pharmaceutical & biotechnology companies will drive the adoption of eTMF systems in this end-user segment.
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Leading Key Players in the Worldwide Industry:
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) are the key players in the eTMF systems market.
Geographical Regions Mapped in Report:
Geographically, the Electronic Trial Master File 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
MarketsandMarkets™
Mr. Aashish Mehra
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raviraj.tak@marketsandmarkets.com
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