Electronic Trial Master File Systems Market In-Depth Analysis By Delivery Mode, Clinical Trials, End-Use, Region And Forecasts

 San Francisco, 22 May 2024: The Report Electronic Trial Master File Systems Market Size, Share & Trends Analysis Report By Delivery Mode (Cloud & Web-based, On-premise), By Clinical Trials (Phase I, Phase II), By End-use, By Region, And Segment Forecasts, 2024 - 2030

The global electronic trial master file systems market size is estimated to reach USD 1.9 billion by 2030, registering a CAGR of 14.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth is attributed to a stringent regulatory structure for clinical trials and a heightened need for safety monitoring. Moreover, growing adoption of electronic trial master file (eTMF) solutions owing to the increasing number of clinical trials also contributes to the market growth. As per the data available on ClinicalTrials.gov, a total of 146,164 clinical trials were registered in the U.S., while around 259,000 studies were registered in the rest of the world in January 2024.

The COVID-19 pandemic has fueled the demand for eTMF solutions. According to an article published by Egnyte, the TMF Summit held in November 2021 highlighted the impact of COVID-19 on the clinical documentation management industry, particularly in adopting eTMFs. The pandemic compelled companies to reevaluate and embrace eTMFs and remote monitoring tools, addressing the challenges of decentralized sites and disrupted workflows. Moreover, standardization, improved user interfaces, and the integration of artificial intelligence (AI) and machine learning (ML) are anticipated to streamline data collection further, fueling the market growth over a forecast period.

Moreover, key players in the market are adopting various strategies to expand their geographical presence and strengthen their market position. For instance, in May 2023, Lotus Clinical Research expanded its partnership with Veeva Systems to adopt the Veeva Vault Clinical Suite to improve its service delivery and operational efficiency. This decision builds on Lotus' previous use of the Vault Clinical Suite, which helped them conduct more connected and faster studies. The successful integration of Veeva Vault eTMF helped Lotus scale its trial operations while maintaining the highest quality standards.

Access Research Report of Electronic Trial Master File Systems Market @ https://www.grandviewresearch.com/industry-analysis/electronic-trial-master-file-etmf-systems-market-report

 Electronic Trial Master File Systems Market Report Highlights

• In 2023, Cloud and web-based segment dominated the market with largest revenue share of 91.3%. This is attributed to associated benefits such as easy accessibility, usability, and lower investments required
• Based on clinical trials, The Phase III segment dominated the market with largest revenue share of 53.3% in 2023. The growth of drug development sector is experiencing significant growth owing to an increasing number of drugs successfully reaching phase III
• Contract Research Organizations (CROs) segment dominated the market with the largest revenue share of 37.1% in 2023.The growing adoption of electronic trial master file solutions in research contributes to the segment growth
• North America dominated the market with the largest revenue share of 49.5 % in 2023. The market growth is attributed to an increasing target population, a rise in lifestyle-associated diseases, and the launch of new products by key market players

Electronic Trial Master File Systems Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 819.9 million
Revenue forecast in 2030	USD 1.9 billion
Growth rate	CAGR of 14.7% from 2024 to 2030
Base year for estimation	2023
Historical data	2018 - 2022
Forecast period	2024 - 2030

List of Key Players in the Electronic Trial Master File Systems Market

• Oracle
• Clinevo Technologies
• MasterControl Solutions, Inc.
• Veeva Systems
• Aris Global LLC
• PHARMALEX GMBH
• TransPerfect
• Aurea, Inc.
• ePharmaSolutions (WCG Clinical)
• SureClinical Inc.
• Ennov
• Montrium Inc.
• Cloudbyz
• TRIAL INTERACTIVE
• Anju Software
• Octalsoft
• Egnyte, Inc.

Access Press Release of Electronic Trial Master File Systems Market @ https://www.grandviewresearch.com/press-release/global-electronic-trial-master-file-etmf-systems-market