Global Clinical Trial Supplies Market Overview
The key driver impacting the clinical trial supplies market is the rising number of patients suffering from chronic diseases such as cancer, epilepsy, and HIV. For instance, According to WHO report estimations, globally, cancer is the second most leading cause of death. There are one in six deaths that take place due to cancer. It accounts for 9.6 million deaths in 2018. As per the UNAIDS organization 2020 report, Globally, around 38.0 million people were living with HIV in 2019. Since the coronavirus epidemic (end 2019), around 75.7 million people have become infected by HIV. Moreover, increasing complexities, and rising number of biologics and biosimilar drugs in trials is estimated to be an important factor that positively impacts market growth.
According to Value Market Research, the global clinical trial supplies market size was valued at around USD 1700 million in 2020 and is estimated to grow at a CAGR of about 10% during the forecast period of 2021 to 2027.
The increasing number of life sciences research in various countries and rising government funding to develop new drugs worldwide is estimated to augment clinical trial supplies demand in the forecast period. For instance, NIH funding contributes to published research connected with every one of the 210 new drugs permitted by the Food and Drug Administration between 2010–2016. collectively, grant funding totaling more than $100 billion for this research. as per the U.K. Bioindustry Association, U.K. being a global leader in life sciences, the UK sector, had invested £4.3 billion in 2017. the industry continually invests more in research & development than any other in the UK. It is committed to raising investment in R&D from 1.69% of GDP in 2017 to 2.4% by 2027. however, the shortage of trained professionals may hamper the global clinical trial supplies market in the long run. also, lack of infrastructure negatively impacts market growth. the current industry trends, such as a surge in focus on determining toxicity level in the early stages of drug discovery, globalization, and rise in the number of clinical trials, are expected to provide market players with new market opportunities.
The clinical trial supplies market is vast, with many local and global players. the key leaders follow different strategies to augment their market position, such as mergers, contracts, extending product portfolio, expansions, acquisitions, and product innovations to enhance their market share at the global level. The known players included in the report are 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.
In this research report, the clinical trial supplies market is segmented by phase, services, therapeutic area, and region.
Analysis by Phases:
By Phases, the report is categorized into phase I, phase II, phase III, phase IV, and BA/BE studies. Phase III dominates the phases segment with over 20% share in 2020. Phase III trials are the most costly, time-consuming, and difficult to design and run. Moreover, it necessitates thousands of people to execute experiments. These experiments go for a more extended period, requiring more supplies and services in several pharma companies and contract research organizations (CROs), thus contributing to the high demand for clinical trial supplies in the forecast period.
Analysis by Services:
By services, the report is categorized into manufacturing, packaging, labeling, and blinding, comparator sourcing, logistics, distribution, storage, and retention, and solutions. Logistics services dominate the product segment with over 60% share in 2020. It is due to the globalization of clinical trials and the increasing number of clinical trials involving temperature-sensitive products. Moreover, growing awareness regarding the importance of clinical trial logistics and end-to-end solutions for respecting the desired study timelines contributes to the growth of the logistics segment in the forecast period.
Analysis by Therapeutic Area:
By therapeutic area, the report is categorized oncology, neurological and mental disorders, infectious and immune system diseases, digestive system diseases, blood disorders, and other therapeutic areas. Oncology areas are estimated to show considerable growth in the forecast period. It is due to the increasing demand for technologically advanced cell-based therapies. Moreover, the adoption of advanced instruments and consumables in pharmaceutical and biotechnology companies for cancer research and experiments drives the demand from the oncology segment in the forecast period.
Analysis by Region:
In the regional outlook of the global clinical trial supplies market, the North America region dominates with a market share of 30% in 2020. It is due to the presence of well-established CROs and the growing investments in R&D by pharmaceutical and biopharmaceutical in the U.S. that are driving the North America region. Moreover, the increasing occurrence of chronic diseases and rise in the number of life sciences researches contribute to the high growth of the clinical trial supplies market across North America.
Market Segmentation covered in the Report:
By Clinical Phase
- Phase I
- Phase II
- Phase III
By Therapeutic Area
- Packaging, Labeling, and Blinding
- Comparator Sourcing
- Distribution, Storage, and Retention
- 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
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