Clinical Trial Supplies Market - Emerging Trends | Revenue Growth by 2025


Posted September 22, 2020 by mmvaidya

The clinical trial supplies market is projected to reach USD 2.5 billion by 2025 from USD 1.7 billion in 2020.
 
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 increasing R&D expenditure in pharmaceutical and biopharmaceutical companies and the globalization of clinical trials & harmonization of regulations are the key factors driving the growth of this market.
This study involved four major activities in estimating the current size of the clinical trial supplies market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.

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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.

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.

North America is the largest regional market for clinical trial supplies

Currently, North America is the largest regional market for clinical trial supplies, and this trend is expected to continue during the forecast period of 2020 to 2025. The presence of well-established CROs and the high and growing investments in R&D by pharmaceutical and biopharmaceutical companies are the major factors responsible for the large share of North America in the global clinical trial supplies market. However, owing to the presence of a larger patient population and less-stringent patient recruitment regulations, the Asia Pacific market is expected to grow at the highest CAGR during the forecast period.

Key Market Players

The prominent players operating in the global clinical trial supplies 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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Contact Email [email protected]
Issued By Makarand Vaidya
Country United States
Categories Biotech , Industry , News
Tags Clinical Trial Supplies Market
Last Updated September 22, 2020