The global electronic trial master file (eTMF) system market recorded a valuation of around US$ 0.9 billion in 2019. In the following years, the demand for electronic trial master file (eTMF) software and services rose at a CAGR of 14.9%, creating a market worth US$ 1.5 million in 2023. Electronic trial master file (eTMF) systems make real-time cooperation and accessibility easier, which has been the key factor propelling demand through projected years.
As per the recent analysis, the net valuation of the market is expected to be at US$ 1.7 billion in 2024. Digital transformation in clinical trials or life science research domains has further augmented the outlook of the electronic trial master file system industry in the last few years.
Over the next ten years, adopting electronic trial master file (eTMF) systems is expected to increase at a 12.9% CAGR. By the end of 2034, the electronic trial master file (eTMF) system industry is anticipated to have grown to US$ 5.8 Billion.
Get Instant Access to Your Visuals-Packed Report, request a sample at
https://www.futuremarketinsights.com/reports/sample/rep-gb-1650
Key Takeaways from the Electronic Trial Master File (eTMF) System Market Report:
- The United States currently leads the market for electronic trial master file (eTMF) systems and is likely to advance at a CAGR of 13% through 2034.
- In Europe, the United Kingdom is expected to hold a lucrative market for eTMF service providers by advancing at 14.4% through 2034.
- China is currently the leading market for eTMF software development in Asia and is poised to progress at 13.3% per year through the forecast period.
- Japan and South Korea are two emerging markets for eTMF integration and are anticipated to follow 14.4% and 15.2% CAGRs through 2034.
Competitive Landscape:
Leading players like Veeva Systems, Aris Global, and Clinevo Technology hold a sizable market share, making it highly concentrated. However, the growing emphasis on regulatory compliance and clinical trial activities in emerging nations is likely to diversify the market with the emergence of new electronic trial master file service providers.
Immediate Access: Buy Today for a Comprehensive Report
https://www.futuremarketinsights.com/checkout/1650
Recent Developments by the Electronic Trial Master File (eTMF) System Market Players:
- In February 2023, Vial and Egnyte signed a collaboration agreement to integrate the Life Sciences eTMF technology into Vial’s platform. According to the clinical research organization Vial, Egnyte eTMF is a 21 CFR Part 11 compliant platform that improves audit preparedness for life sciences organizations, reduces document and data processing times, and maintains compliance.
- In April 2021, Phlexglobal eTMF vendor revealed five of the world’s top 10 pharmaceutical companies are using its cutting-edge TMF Quality Review solution. The firm claims that its TMF solution aids in better inspection preparation, identifies loopholes for clinical trials and mitigates regulatory risk associated with their mergers and acquisitions.
Electronic Trial Master File (eTMF) System Market Segmentation:
By Component or Product Type:
- Software
- Services
By Deployment Type:
- On-Premise
- Cloud
By End User Verticals:
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations (CROs)
- Other End Users
By Functionality:
- Clinical Operations
- Records Management
- Auditing
- Information Technology (IT) Operations
- Other Functionalities
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and the Pacific
- The Middle East and Africa (MEA)
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube