The global electronic trial master file (eTMF) market is estimated to reach a value more than US$ 190 Mn by the end of the assessment year from an estimate of US$ 51.7 Mn during 2017.
Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Electronic Trial Master File (eTMF) Market: Western Europe Projected to be the Second Largest Region in Terms of Market Share: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” offers a detailed analysis of the market, providing insights into the market dynamics that are expected to influence the overall market positively in the next few years.
Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the global Electronic Trial Master File (eTMF) market have been elaborated upon in the research report.
According to the research report on global electronic trial master file (eTMF) market, it is expected to show exponential growth during the period of forecast, 2017-2027.
The global market had witnessed high growth since the period 2012-2016 and this trend is likely to enhance in the coming years, till 2027. The global electronic trial master file (eTMF) market is estimated to reach a value more than US$ 190 Mn by the end of the assessment year from an estimate of US$ 51.7 Mn in 2017.
This market valuation is supported by a high CAGR of 14.0% during the period of forecast. The high growth of the global electronic trial master file (eTMF) market can be attributedto growing number of clinical trials across the globe and government regulations keeping the eTMF mandatory for clinical trials.
North America to show higher lucrativeness for growth of eTMF market
The North America region is expected to show high market attractiveness during the forecast period. Electronic trial master file (eTMF) market in North America is projected to grow at a high CAGR of 13.5% throughout the period of assessment to showcase an estimation of more than US$ 125 Mn by the end of the assessment period.
The market in this region has been growing consistently showing high revenue generation since 2016. In 2017, the North America eTMF market reflected a higher revenue of about US$ 35 Mn and dominated the market in other regions that reflected a revenue not even close to US$ 15 Mn.
The main aspect driving the growth of the eTMF market in North America is the business benefits associated with eTMF that are spurring its adoption. For instance, in 2016, Veeva Systems conducted a survey, in which it was said that improving inspection readiness (67%), speeding study start-up (53%), and providing remote oversight of the TMF (48%), are the most cited business benefits driving the adoption of eTMF among sponsors.
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United States sub region in North America is expected to highly contribute to the growth of the market in the region, followed by Canada. The revenue from United States is expected to reach a high valuation of more than US$ 100 Mn by the end of 2027, thus supporting the dominance of the North America region in the electronic trial master file (eTMF) market in the coming years.
Asia Pacific excluding Japan to show high potential for growth in the electronic trial master file market
Several key players are focusing on the Asia Pacific excluding Japan (APEJ) region in order to tap the emerging economies in this region. The main advantage of this region is its high potential for growth as compared to matured economies.
Several end use industries are showing interest in this region owing to which the supply side players are focusing their attention on APEJ to gain business expansion. Electronic trial master file (eTMF) market in Asia Pacific excluding Japan (APEJ) region is expected to grow at the highest pace in the coming years to register a stellar CAGR of 17.6% and is estimated to reach a valuation of about US$ 18 Mn by the end of the period of assessment, thus becoming the third largest region in the eTMF market after Western Europe.
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