Clinical Trial Supplies Market to Grow at Steady Rate till 2030

Posted on 2022-06-01 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, June 01, 2022 — /EPR Network/ —

Clinical Trial Supplies Industry Overview

The global clinical trial supplies market size was valued at USD 2.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030.

The growth is attributed to globalization, a rise in the number of clinical trials, and an increase in the number of biologics & biosimilar drugs in clinical trials. The COVID-19 pandemic has negatively impacted the market, resulting in a low growth rate in 2020 and the first half of 2021. This, in turn, has further propelled technological advancements in supply chain management, which is expected to contribute to market growth in the long run. The adoption of supply chain management systems is increasing due to rising pressure to reduce R&D expenditure and increase operational efficiency, as clinical trial supplies account for a large share of the total R&D expenditure of biopharmaceutical companies.

Gather more insights about the market drivers, restrains and growth of the Global Clinical Trial Supplies market

The outbreak of COVID-19 has accelerated certain new models in the market to ease the crisis and cope with changing trends. The implementation of virtual trials, which has been an underpinning technology, is gradually gaining popularity and is expected to witness considerable growth in the coming years. The pandemic has led to certain restrictions, such as social distancing and travel restrictions, owing to which around 80.00% of sites have canceled or put a hold on at least one clinical trial. Therefore, to avoid such situations, virtual trials are gradually being adopted, which allows the implementation of innovative approaches to trials and helps ensure a better patient experience.

There has been a significant rise in the number of biologics and temperature-sensitive drugs in clinical trials. Currently, 38.0% of pharmaceutical drugs are temperature-sensitive and 35.0% of late-phase pharmaceutical drugs are biologics. This number is expected to increase in the future, as the demand for biologics is growing owing to lesser adverse effects as compared to traditional ties for the storage of temperature-sensitive drugs. Hence, a rise in the number of biologics in clinical trials is expected to boost the demand for cold chain facilities. It has been estimated that 8 out of the top 10 biopharmaceutical products will require cold chain facilities by 2022. The high demand for biosimilars in developing and developed economies is expected to further boost the cold chain supply, thereby contributing to market growth over the forecast period.

The majority of clinical trials are currently being conducted in developing economies. The increasing cost of clinical trials and complications in the recruitment of patients have encouraged biopharmaceutical companies to outsource clinical trials to regions such as Asia Pacific, Latin America, Central & Eastern Europe, and the Middle East. Disease variation in developing economies further aids biopharmaceutical companies to perform clinical trials on rare diseases. Some regions, such as the Asia Pacific, also provide greater economic benefits to biopharmaceutical companies, as governments in Singapore and China allocate funds to promote biomedical research. In Latin America, patient recruitment is easy due to reduced language barriers, which can help obtain informed consent easily, resulting in a faster clinical trial process.

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Clinical Trial Supplies Market Segmentation

Grand View Research has segmented the global clinical trial supplies market based on clinical phase, product & services, therapeutic use, end-use, and region:

Clinical Trial Supplies Phase Outlook (Revenue, USD Million, 2017 – 2030)
- Phase I
- Phase II
- Phase III
- Others
Clinical Trial Supplies Product & Services Outlook (Revenue, USD Million, 2017 – 2030)
- Manufacturing
- Storage & Distribution
  - Cold Chain Distribution
  - Non-cold Chain
- Supply Chain Management
Clinical Trial Supplies End-use Outlook (Revenue, USD Million, 2017 – 2030)
- Pharmaceutical
- Biologics
- Medical Device
- Others
Clinical Trial Supplies Therapeutic Use Outlook (Revenue, USD Million; 2017 – 2030)
- Oncology
- CNS
- Cardiovascular
- Infectious Disease
- Metabolic Disorders
- Others
Clinical Trial Supplies Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa

Market Share Insights

April 2021: Catalent expanded capabilities at its clinical supply services facility in Philadelphia to support sponsors developing cell and gene therapies.
April 2021: Parexel collaborated with Veeva Systems to improve their clinical processes for clinical trial delivery and enhance Veeva’s cloud technology

Key Companies profiled:

Some prominent players in the global clinical trial supplies market include

KLIFO A/S
PAREXEL International Corporation
Almac Group Ltd.
Movianto GmbH
Patheon, Inc.
Biocair International Ltd.
PCI Services
Marken
Thermo Fischer Scientific, Inc.
Sharp Packaging Services
Catalent Pharma Solutions

Other players present in the market include:

Clinigen Group plc
Merck Serono
Chimerix

Order a free sample PDF of the Clinical Trial Supplies Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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