Electronic Trial Master File Market is estimated to be US$ 3.57 billion by 2030 with a CAGR of 11.5% during the forecast period
Electronic Trial Master File Market accounted for US$ 1.2 billion in 2020 and is estimated to be US$ 3.57 billion by 2030 and is anticipated to register a CAGR of 11.5%. Electronic trail master file is a way of digitally capturing, managing, sharing and storing the essential documents and content from a clinical trial. Increasing number of clinical trials, and the growth in the research and development spending by pharma & biotech companies. Further, emerging countries like Asia Pacific is also expected to provide significant opportunities for players in the market.
The report " Global Electronic Trial Master File Market, By Component (Services and Software), By Delivery Mode (Cloud-Based and On-Premise), By End-User (Pharmaceutical & Biotechnology Companies and Contract Research Organizations), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
· In 2013, Wingspan announces that Actelion Pharmaceuticals, a top 20 biopharmaceutical company, has selected Wingspan eTMF as its official electronic trial master file. The company, based in Switzerland, outlined specific goals of the trial master file implementation including providing key management metrics, increasing inspection readiness, saving time, reducing costs and increasing eTMF quality.
Analyst View:
Rise in number of clinical trials, along with increased partnerships between CROs and biopharma companies is expected to boost the global electronic trail master file market. Furthermore, increasing clinical trials and research development is also expected to foster the market. Moreover, increased funds by government, biotech and pharma companies are also likely to augment the market. Advantages such as save time, money, also provide keystrokes for electronic trail master file market.
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Key Market Insights from the report:
Global Electronic Trial Master File Market accounted for US$ 1.2 billion in 2020 and is estimated to be US$ 3.57 billion by 2030 and is anticipated to register a CAGR of 11.5%.Global Electronic Trial Master File Market is segmented into component, delivery mode, end-user and region.
· Based on component, Global Electronic Trial Master File Market is segmented into Services, and Software
· Based on Delivery mode Global Electronic Trial Master File Market is segmented into Cloud-based, and on premise.
· Based on End User, the target market is segmented on basis of Pharmaceutical & Biotechnology Companies, and Contract Research Organizations.
· By Region, the Global Electronic Trial Master File Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Electronic Trial Master File Market:
The key players in the Global Electronic Trial Master File Market includes Oracle Corporation, Phlexglobal Limited, TransPerfect Global Inc., LabCorp, Wingspan Technology, Inc., SureClinical, Inc., PharmaVigilant, Database Integrations, Inc., NCGS Inc., and SterlingBio Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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