Global eTMF Systems Market is poised to witness a CAGR of 12% by 2027 - Revolutionizing the Segment of Clinical Trials

An electronic Trial Master File (eTMF) is a content management system for the Bio-Pharma market which includes protocols, strategies, technologies and tools used throughout the whole lifecycle of the clinical trial. An eTMF digitally captures, shares, and stores the necessary documents and content generated in a clinical trial.

Key Advantages Provided by eTMF Systems Triggers the Adoption of eTMF Systems Market

Post Covid-19 pandemic, the number of clinical trials and volume of data generated increased rapidly, which has further triggered the adoption of eTMF systems by Bio-Pharma companies. The eTMF systems provides real-time visibility of the clinical trial data and activities conducted at scattered sites across the globe. The major benefits of adopting eTMF are an enhanced business efficiency, speedup timelines, decreased costs and risks.

Emergence of eTMF Systems Market Post Co-vid 19 Pandemic

Covid-19 Pandemic had fueled a rapid change in the execution of clinical trials. Due to strict travel bans and lockdowns, virtual clinical trials were initiated by the Bio-Pharma companies by making the use of remote patient monitoring, telehealth, wearable devices and apps to ensure patient safety. Huge number of clinical trials conducted for quick development of vaccines during the Covid pandemic had burdened the healthcare market. With a vast surge in the number of clinical trials and its data, there was a rapid move from manual TMF systems to eTMF systems, for easy management of data in decentralized clinical trials. The other major factor which had set in motion this move was the clinical data retention regulation policy to maintain the data for 25 years by the Sponsors/CRO’s.

North America Accounts for the Largest Market Share in the eTMF Systems Market

From a geographical overview, North America accounts for the largest market share in the global eTMF systems market. This can be mainly attributed to the rising number of clinical trials & huge volume of data generated, positive funding environment to support clinical trials, fully-developed healthcare IT infrastructure, and the presence of leading players in the region. 

However, the APAC region is projected to witness a rapid growth in the eTMF systems market in the upcoming years due to growing biopharma market, rising outsourcing of clinical trials in Asia, and recent developments of vaccines by Biopharma companies post Covid-19.

Competitive Landscape Analysis: eTMF Systems Market

Some of the top and leading players operating in the global electronic trial master file systems market are as follows: -

  • Veeva Systems
  • Aris Global LLC
  • Master Control Inc.
  • Montrium
  • Clinevo Technology
  • Oracle Corporation
  • Phlexglobal
  • Transperfect
  • Aurea Software
  • Labcorp (Covance Inc.)
  • Sureclinical

The global eTMF systems market is an emerging market and is set to witness a significant growth in the upcoming years with global adoption of eTMF systems, growing R&D investments by pharma-biotech companies, positive government funding to support clinical trials, and both organic and inorganic growth strategies adopted by the leading market players. However, lack of skilled and trained professionals and clinical data privacy are some of the challenges which may impact the growth of the global eTMF systems market.

Get Detailed Insights on Electronic Trial Master File (eTMF ) Systems Market @ https://meditechinsights.com/electronic-trial-master-file-etmf-systems-market/

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