Globalization and growth in number of clinical trials, increasing number of biologics and biosimilar drugs in trials and growing complexities are projected to be the major driver for the growth of this market.
The global clinical trial supplies market accounted for US$ 1.7 billion in 2020 and is estimated to be US$ 2.5 billion by 2025 and is anticipated to register a CAGR of 7.8%.
The report "Global Clinical Trial Supplies Market, By Global Clinical Trial Supplies Market, By Phases (Phase I, Phase II, Phase III, and Phase IV), By Study Design (Interventional Trails, Observational Trials, and Expanded Access Trials), By Application (Oncology, CNS, Cardiovascular, Infectious Disease, Metabolic Disorders, and Others), By End-user (Contract Research Organizations, Pharmaceutical & BioStudy Design Companies, Research Institutes, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2025”.
Key Market Insights from the report:
The global clinical trial supplies market accounted for US$ 1.7 billion in 2020 and is estimated to be US$ 2.5 billion by 2025 and is anticipated to register a CAGR of 7.8%. The market report has been segmented on the basis of phases, study design, application, end-user, and region.
• By phases, phase III is expected to be dominated the segment over the forecast period. The presence of large number of molecule accounted to reach Phase III by 2020 is the main factor answerable for this prediction.
• By study design, interventional trails segment is expected to dominate the target market owing to evolutions and innovations in the treatment
• By application, Oncology segment is dominating the global market owing to increasing number of patients suffering from various diseases
• By end-user, Contract Research Organizations segment is dominating the global market owing to increasing R&D activities
• By region, North America is the chief regional market for clinical trial supplies, followed by Europe. This is mainly attributed owing to the presence of well-established biopharmaceutical companies and CROs.
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Competitive Landscape:
The prominent player operating in the global clinical trial supplies market includes PAREXEL International Corporation, KLIFO A/S, Almac Group Ltd., Patheon Inc., Biocair International Ltd., Movianto GmbH, Sharp Packaging Services, PCI Services, Thermo Fischer Scientific, and Catalent Pharma Solutions.
The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.
Key Highlights:
• In December 2019, PCI Pharma Services (PCI), a leading pharmaceutical and biopharmaceutical global outsourcing solutions provider, declared the completion of an expansion to its Rockford, IL facility to improve its specialty drug product capabilities.
• On February 2020, PAREXEL International Corporation, an innovative provider of solutions to enhance the development and delivery of innovative new therapies to improve world health, from Clinical through Commercialization, declared that it has completed the acquisition of Model Answers, a consultancy firm based in Brisbane, Queensland, Australia. Model Answers provides pharmacodynamic (PD) and pharmacokinetic (PK) modeling, analysis, and simulation services to customers in the life sciences industry to help increase the likelihood of successful drug development.
Analyst View:
Increasing investment for R&D activities for development of effective medicines
The CROs and biopharmaceutical companies are becoming aware about the importance of logistics and material supply with end-to-end solution in the clinical trials. Rising number of life sciences research in various countries and rising government funding for the development of new drugs are likely to drive the clinical trial supplies market globally. New competitors are focusing on new technologies and launch of new products in the market. Moreover, robust growth in emerging economies provides lucrative growth opportunity to the market stakeholders.
Increasing prevalence of chronic diseases
The global clinical trials supplies market is observing high growth owing to rising prevalence of chronic diseases such as cancer, HIV, and epilepsy. Furthermore, growing prevalence’s of neurological diseases such as Alzheimer’s, Parkinson’s, tumor, epilepsy, depression, along with increasing generic population are also factors projected to boost the target market growth in the coming years. Moreover, rising clinical trials for finding permanent and effective solutions to slowdown or cure and prevent spread of diseases and aging diseases is a factor driving growth of the global market.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Clinical Trial Supplies Market”, By Phases (Phase I, Phase II, Phase III, and Phase IV), By Study Design (Interventional Trails, Observational Trials, and Expanded Access Trials), By Application (Oncology, CNS, Cardiovascular, Infectious Disease, Metabolic Disorders, and Others), By End-user (Contract Research Organizations, Pharmaceutical & BioStudy Design Companies, Research Institutes, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2025
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Some Important Points Answered in this Market Report Are Given Below:
• Explains an overview of the product portfolio, including product development, planning, and positioning
• Explains details about key operational strategies with focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
• Detailed analysis of the market revenue over the forecasted period.
• Examining various outlooks of the market with the help of Porter’s five forces Analysis, PEST & SWOT Analysis.
• Study on the segments that are anticipated to dominate the market.
• Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
1. Introduction
• Study Deliverables
• Study Assumptions
• Scope of the Study
2. Research Methodology
3. Executive Summary
• Opportunity Map Analysis
• Market at Glance
• Market Share (%) and BPS Analysis, by Region
• Competitive Landscape
• Heat Map Analysis
• Market Presence and Specificity Analysis
4. Investment Analysis
5. Competitive Analysis
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