Yahoo Finance Global Electronic Trial Master File (eTMF) Market to Surpass US$ 1,701.3 Million by 2028, Says Coherent Market Insights (CMI)
SEATTLE, Jan. 19, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global electronic trial master file (eTMF) market is estimated to be valued at US$ 939.6 million in 2021, exhibiting a CAGR of 8.9% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Electronic Trial Master File (eTMF) Market:
Major market players are focusing on business development strategies such as product launch, acquisition, and agreement, which is expected to propel the market growth over the forecast period. For instance, in March 2021, Phlexglobal, a provider of intelligent software for regulatory data management, launched the software PhlexTMF. It is a novel software that addresses the growing pharmaceutical industry's demand for readily inspectable storage of the Trial Master File (TMF) after a clinical trial study has been completed. It bridges the compliance gap by enabling secure and convenient eTMF access to data of clinical studies from any location at any time.
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Key Market Takeaways:
The global electronic trial master file (eTMF) market is expected to exhibit a CAGR of 8.9% during the forecast period, owing to the increasing merger and collaboration agreements between the key players. For instance, in August 2019, TransPerfect, a software solution provider established a partnership with Symphogen, a biotechnology company. Symphogen has chosen TransPerfect's Trial Interactive (TI) GlobalLearn learning management system to provide important compliance-focused training sessions for research workers in order to assure regulatory compliance and overall operational excellence.
Among product type, software segment is estimated to account for the largest market share in the global electronic trial master file (eTMF) market in 2021. Market players are indulged in inorganic activities such as partnerships, in order to launch new eTMF software, which is expected to drive the growth of the software segment over the forecast period. For instance, in August 2021, Alimentiv, Inc., a contract research organization (CRO), entered into a partnership with Veeva Vault, a content management platform and launched a new eTMF solution, to improve efficiency, simplify workflows, and provide transparency into the real-time status of the TMF.
Among deployment type, web/cloud segment is expected to account for the largest market share in the global electronic trial master file (eTMF) market, owing to the increasing adoption of cloud-based eTMF software by biotechnology companies. For instance, in 2017, Medidata, the global provider of cloud-based solutions and data analytics for clinical research, announced that Horizon Pharma plc, a biopharmaceutical company, selected the Medidata clinical cloud platform to meet its eTMF and study conduct requirements as well as a full suite of solutions for their end-to-end clinical research needs.
On the basis of region, North America is expected to hold a dominant position with the largest market share in the global electronic trial master file (eTMF) market growth over the forecast period, owing to the increasing adoption of electronic trial master (eTMF) file (eTMF) software and services by the medical device companies. For instance, in October 2021, CARMAT, a medical device company, selected Veeva Vault eTMF software of Veeva Systems to simplify trial master file (TMF) management. Vault eTMF will enable CARMAT to actively manage all TMF processes and documents on a single cloud platform for transparency for documentation purposes. This, in turn, will help CARMAT to focus more on patients.
Competitive Landscape:
Key players operating in the global electronic trial master file (eTMF) market include Phlexglobal, Montrium Inc., TransPerfect, IQVIA, Veeva Systems, Clinevo Technologies, Ennov, MasterControl, Inc., ArisGlobal, Florence HC, Medidata, and SureClinical Inc.
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Market Segmentation:
Global Electronic Trial Master File (eTMF) Market, By Product Type:
Software
Services
Global Electronic Trial Master File (eTMF) Market, By Deployment Type:
On-premise
Web/Cloud
Global Electronic Trial Master File (eTMF) Market, By End User:
Biotechnology and Pharmaceutical Companies
Contract Research Organizations (CRO’s)
Research Institutes
Global Electronic Trial Master File (eTMF) Market, By Region:
North America
By Country
U.S.
Canada
Latin America
By Country
Brazil
Mexico
Argentina
Rest of Latin America
Europe
By Country
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
By Country
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
By Country
GCC
Israel
Rest of Middle East
Africa
By Country/Region
South Africa
Central Africa
North Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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