Clinical Trial Supplies Market is Expecting Major Revenue Spike by 2025

PUNE, India, 2020-Sep-18 — /EPR Network/ —

The report “Clinical Trial Supplies Market by Products & Services (Manufacturing, Packaging, Logistics, Distribution, Storage), Phases ( l, ll, lll, lV), Drug Type (Small Molecule, Biologics),Therapeutic Areas (Oncology, Blood Disorders) – Global Forecast to 2025″, The clinical trial supplies market is projected to reach USD 2.5 billion by 2025 from USD 1.7 billion in 2020, at a CAGR of 7.8%.

The growth of this market is majorly driven by the increasing R&D expenditure in pharmaceutical and biopharmaceutical companies and the globalization of clinical trials & harmonization of regulations.

Key Market Players:

The prominent players operating in the global Clinical Trial Essentials Market include Alamc Group (UK), Catalent, Inc. (US), PCI Services (US), Parexel International Corporation (US), Sharp Packaging Services (US), Biocair (UK), O&M Movianto (US), KLIFO A/S (Denmark), and Thermo Fisher Scientific, Inc. (US).

Logistics services segment to dominate the clinical trial supplies market in 2020

Based on service, the clinical trial supplies market is segmented into logistics; distribution, storage, and retention; packaging, labeling, and blinding; manufacturing; comparator sourcing; and solutions. The logistics services segment is expected to account for the largest share of this market in 2020, primarily due to the globalization of clinical trials and the increasing number of trials involving temperature-sensitive products.

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Phase III segment to register the highest growth in the clinical trial supplies market, by phase

Based on phase, the clinical trial supplies market is segmented into phase I, phase II, phase III, phase IV, and BA/BE studies. The phase III segment is expected to account for the largest share of the clinical trial supplies market in 2020. This segment is also estimated to grow at the highest CAGR during the forecast period. The large share and high growth of this segment can be attributed to the fact that phase III trials are the most expensive, time-consuming, and difficult to design and run.

Major Objectives Behind This Study:

• To define, describe, and forecast the Clinical Trial Essentials Market on the basis of service, phase, drug type, therapeutic area, and region
• To provide detailed information regarding the major factors influencing the growth of the market
• To strategically analyze micromarkets with respect to their individual growth trends, future prospects, and contributions to the overall market
• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of the market segments with respect to four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World
• To profile key market players and comprehensively analyze their product portfolios, market positions, and core competencies
• To track and analyze competitive developments such as acquisitions, new product launches, expansions, agreements, partnerships, collaborations, and R&D activities in the clinical trial supplies market

North America is the largest regional market for clinical trial supplies

The global clinical trial supplies market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. North America is the largest regional market for clinical trial supplies, followed by Europe. The large share of the North American market can primarily be attributed to the presence of well-established CROs and the high and growing R&D expenditure by pharmaceutical and biopharmaceutical companies in the region.

The prominent players operating in the global Clinical Trial Essentials Market include Alamc Group (UK), Catalent, Inc. (US), PCI Services (US), Parexel International Corporation (US), Sharp Packaging Services (US), Biocair (UK), O&M Movianto (US), KLIFO A/S (Denmark), and Thermo Fisher Scientific, Inc. (US).

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