Global Electronic Trial Master File (eTMF) Systems Market Outlook, 2019-2024 - Emerging Asian Markets Provide Lucrative Opportunities

8/30, 3:49 PM (Source: GlobeNewswire)

Dublin, Aug. 30, 2019 (GLOBE NEWSWIRE) -- The "Electronic Trial Master File (eTMF) Systems Market by Component (Services, Software), End-User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations), Delivery Mode (On-Premise, Cloud-Based), and Region - Global Forecast to 2024" report has been added to's offering.

The electronic trial master file (eTMF) systems market is projected to reach USD 1.8 billion by 2024 from USD 1 billion in 2019, at a CAGR of 12.7%.

This report studies the eTMF systems market based on delivery mode, component, end-user, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.

It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.

The eTMF systems market is projected to grow at a CAGR of 12.7% during the forecast period

Growth in the eTMF systems market can be attributed primarily to the rising adoption of eTMF systems, a growing 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

The software segment is expected to grow at the highest CAGR during the forecast period

Based on the component, the eTMF systems market is segmented into software and services. The software segment is projected to grow at the highest CAGR during the forecast period due to the availability of advanced eTMF software, increasing the focus of industry players to develop innovative eTMF systems and the growing demand for eTMF software in developing countries.

The pharmaceutical & biotechnology companies segment accounted for the largest share of the eTMF systems market, by end-user, in 2018

Based on end-user, the eTMF 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). In 2018, the pharmaceutical & biotechnology companies segment accounted for the largest market share, owing to the increasing application of eTMF software in clinical project management and the availability of huge R&D budgets with large pharmaceutical & biotechnology companies.

Increasing government funding for clinical research and a large number of clinical trials in North America to support the growth of the eTMF systems market in North America

Geographically, the eTMF systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest share of the eTMF systems market in 2018. The large market share of North America in the eTMF systems market can be attributed to the increasing government funding for clinical research, a large number of clinical trials, and the presence of several major players in the US.

The major players in this market include 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).

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Electronic Trial Master File (eTMF) Systems: Market Overview
4.2 Geographic Analysis: North American eTMF Market, by Delivery Mode
4.3 US: eTMF Systems Market Share, By Component and Delivery Mode
4.4 Geographical Snapshot of the eTMF Systems Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Rising Adoption of eTMF Systems Rising Number of Clinical Trials Rising Government Funding & Grants to Support Clinical Trials Increasing R&D Expenditure by Pharma-Biotech Companies & IT Expenditure Allocations
5.2.2 Restraints Budget Constraints
5.2.3 Opportunities Emerging Asian Markets
5.2.4 Challenges Clinical Data Privacy Dearth of Skilled Professionals for Operating eTMF Systems

6 eTMF Systems Market, By Component
6.1 Introduction
6.2 Services
6.2.1 Reliance on Services Will Remain High in the Coming Years, Ensuring Strong Growth in Demand
6.3 Software
6.3.1 Rising Adoption of Software is Driving High Growth in the Market

7 eTMF Systems Market, By Delivery Mode
7.1 Introduction
7.2 Cloud-Based eTMF
7.2.1 Cloud-Based eTMF Segment to Register Higher Growth During the Forecast Period
7.3 On-Premise eTMF
7.3.1 Lack of Remote Access Capabilities to Restrain the Demand for On-Premise eTMF

8 eTMF Systems Market, By End User
8.1 Introduction
8.2 Pharmaceutical & Biotechnology Companies
8.2.1 Pharmaceutical & Biotechnology Companies are Major End-Users of eTMF Systems
8.3 Contract Research Organizations
8.3.1 Increasing Outsourcing of Clinical Trials By Pharmaceutical & Biotechnology Companies to Cros is Driving the Adoption of eTMF Systems
8.4 Other End Users

9 Electronic Trial Master File (eTMF) Systems Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US Favorable Government Funding Scenario and A Large Number of Ongoing Clinical Trials are Driving the Adoption of eTMF Systems in the US
9.2.2 Canada Favorable Regulatory Conditions and Growing Partnerships in Canada to Support Market Growth
9.3 Europe
9.3.1 Germany Germany to Register the Highest Growth in the European eTMF Systems Market During the Forecast Period
9.3.2 UK Growing Number of Biopharmaceutical and Medical Device Companies to Propel the Adoption of eTMF Systems in the UK
9.3.3 France Rising Focus on Biosimilars to Create A Potential Market for eTMF Systems in France
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 China Growing Outsourcing of Clinical Trials to Cros to Support Market Growth in China
9.4.2 Japan Government Initiatives and Partnerships Among Pharmaceutical Companies and Cros to Drive Market Growth in Japan
9.4.3 Rest of Asia Pacific
9.5 Rest of the World

10 Competitive Landscape
10.1 Overview
10.2 Market Ranking of Players, 2018
10.3 Competitive Leadership Mapping
10.3.1 Visionary Leaders
10.3.2 Innovators
10.3.3 Dynamic Differentiators
10.3.4 Emerging Companies
10.4 Competitive Scenario
10.4.1 Solution Deployments
10.4.2 Solution Enhancements
10.4.3 Expansions
10.4.4 Partnerships

11 Company Profiles
11.1 Veeva Systems
11.2 Oracle Corporation
11.3 Phlexglobal
11.4 Transperfect
11.5 Aurea Software
11.6 Labcorp
11.7 Epharmasolutions
11.8 Wingspan Technology
11.9 Mastercontrol
11.10 Sureclinical

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