Clinical Trial Supplies Market Worth to cross USD 3312.81 MN By 2027
Posted On April 30, 2021
The Global Clinical Trial Supplies Market value is expected to grow by an impressive 10% of CAGR during the forecast period of 2021 to 2027. The market can grow to USD 3312.81 MN by 2027 as per the report by Value Market Research. The rising investments in the research and development of new drugs in the pharmaceutical sector will be the primary driver for the clinical trial supplies market. The globalization of the pharmaceutical industry and the integration of Information Technology (IT) to facilitate the smooth performance of activities will benefit market growth. The growing demand for biological, orphan drugs and the need for rapid development of vaccines in the case of pandemics will further propel market growth. The increased prevalence of chronic diseases like new types of cancer, epilepsy, and HIV and clinical trials playing a significant role in developing innovative drugs will be a market booster. The high costs and increased wastage will be the primary constraints of this market.
Clinical trial Supplies are materials required for conducting a clinical trial. It also includes collecting and delivering biological specimens and investigational drugs to patient sites at optimum cost. It can also cover the expertise/assistance, temperature-controlled packaging, permit applications, government authorizations to ensure the fastest possible delivery of the drugs used in clinical trials. Clinical trial supplies are an essential factor in the initiation of clinical studies as factors like insufficient bulk material, inadequate forecasted demand, accumulation of delays, or sudden acceleration in the timeline for the study's start can significantly impact the drug development lifecycle.
The detailed research study "Global Clinical Trial Supplies Market Report By Clinical Phase (Phase I, Phase II, Phase III, Other), By Service (Manufacturing, Packaging, Labeling, And Blinding, Comparator Sourcing, Logistics, Distribution, Storage, And Retention, Solutions), By Therapeutic Area (Oncology, Neurological And Mental Disorders, Infectious And Immune System Diseases, Digestive System Diseases, Blood Disorders, Other Therapeutic Areas) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" assists in understanding the market dynamics with qualitative as well as quantitative data.
On the basis of clinical phase the market is segmented into Phase I, Phase II, Phase III, Other. By service the clinical trial supplies market is categorised as Manufacturing, Packaging, Labeling, and Blinding, Comparator Sourcing, Logistics, Distribution, Storage, and Retention, Solutions. By therapeutic Area the clinical trial supplies market is categorised as Oncology, Neurological and Mental Disorders, Infectious and Immune System Diseases, Digestive System Diseases, Blood Disorders, Other Therapeutic Areas. The regions covered in the market study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. This section throws light on the geographical spread of revenue and/or volume of the clinical trial supplies market.
The Report Segments Global Clinical Trial Supplies Market -
By Clinical Phase
- Phase I
- Phase II
- Phase III
- Packaging, Labeling, and Blinding
- Comparator Sourcing
- Distribution, Storage, and Retention
By Therapeutic Area
- Neurological and Mental Disorders
- Infectious and Immune System Diseases
- Digestive System Diseases
- Blood Disorders
- Other Therapeutic Areas
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Players Profiled In the Report:
PAREXEL International Corporation, KLIFO A/S, Movianto GmbH, Biocair International Ltd., Almac Group Ltd, Patheon Inc., Thermo Fischer Scientific, PCI Services, Sharp Packaging Services, and Catalent Pharma Solutions.
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