Clinical Trial Supplies Market Size, Share & Trends Analysis Report By Clinical Phase (Phase I, Phase II, Phase III), By Product & Service, By End-use, By Therapeutic Use- Global Industry Analysis, Share, Growth, Regional Outlook And Forecasts, 2021-2027
The global Clinical Trial Supplies market gathered revenue around USD 1.5 Billion in 2020 and market is set to grow USD 2.7 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 6.1% during the prediction period 2021 to 2027.
Globalization, rise in the number of clinical trials, and rise in the number of biologics and biosimilar drugs in clinical trials are among major factors expected to drive the market. Rapid technological advancements in supply chain management are also expected to contribute to the growth of the market. The adoption of a supply chain management system 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.
The Increasing volume of clinical trial studies coupled with the growing complexity in conduction of these trials are the primary driver of the industry. Furthermore, geographic expansion and development of Information Technology (IT) to facilitate higher integration and smooth performance of activities are other vitally impacting parameters. Over the next eight years, the clinical trials and pharmaceutical industry is anticipated to continue steady growth, thereby promoting the high requirement of clinical trial supplies.
U.S and Canada are home to majority of clinical trials which are conducted in this region. No language barrier is one of the major factor for the preference of this region for majority of clinical trials, as English language is widely spoken in this region. Major CRO’s and biopharmaceutical companies have their hub in this region and with advancement in technology the demand for efficient supplies are increasing and the region is expected to dominate the clinical trial supplies market over the forecast period.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Clinical Trial Supplies market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Clinical Trial Supplies market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
|Market Size||USD 2.7 Billion by 2027|
|Growth Rate||CAGR of 6.1% From 2021 to 2027|
|Forecast Period||2021 to 2027|
|Historic Data||2017 to 2020|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Clinical phase, product &service, end-use, therapeutic use and Region
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||Almac Group; Biocair; Catalent, Inc.; KLIFO; Movianto (Walden Group); PCI Pharma Services; Sharp; Thermo Fischer Scientific, Inc.; Marken; Parexel International Corporation|
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Clinical Trial Supplies market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
By Clinical Phase analysis:
As of 2020, the phase I clinical trial supplies segment is anticipated to witness the fastest CAGR of 6.5% during the forecast period. However, phase III trials dominated this segment due to the high requirement of supply chain management in this phase. Even though the phase I clinical trials segment is expected to grow at the fastest rate owing to growing R&D activities in the biotechnology space, phase III clinical trials are likely to dominate the market during the forecast period.
Phase III clinical trials are more complex than other phases. Although the number of drugs in this phase is comparatively low, the complexity associated with this phase is highest. The failure rate in this phase is the highest as the sample size and study design require complex dosing at an optimum level. The loss associated with the failure is with respect to human and financial, and a majority of failures are due to noncompliance with safety and efficacy standards. Such a scenario may surge the demand for efficient supply chain and logistics, which, in turn, is expected to positively impact market growth.
By Product & Services analysis:
In 2020, the supply chain management segment dominated the market and accounted for the largest revenue share of 46.8%. This scenario exists in most of the regions worldwide, except in the U.S., wherein the manufacturing segment is also expected to witness a lucrative CAGR of 6.2% over the forecast period.
Globalization of clinical trials and an increase in the number of clinical sites are expected to drive the demand for supply chain management systems by life science companies and CROs. Adoption of mobile and supply chain management technology is expected to be the driving factor for segment growth
By End-use analysis:
The pharmaceuticals segment dominated the market and accounted for the largest revenue share of 42.4% in 2020. The segment is expected to exhibit a CAGR of 6.2% during the forecast period. There has been a steady decrease in pharmaceutical drugs in the R&D pipeline as they have been substituted by biological drugs, which is expected to have a slightly negative impact on segment growth during the forecast period.
The number of pharmaceutical drugs in the top 10 innovative drugs has decreased drastically and is expected to be replaced by biologics. Although pharmaceutical drugs account for the highest number of drugs in the clinical trial segment, the growing number of biological drugs is likely to have an impact on this number
By Therapeutic Use analysis:
The oncology segment dominated the market and accounted for the largest revenue share of 38.13 in 2020. The segment is expected to witness the highest CAGR over the forecast period owing to the presence of a huge R&D pipeline of oncology drugs. The majority of oncology drugs require temperature-sensitive distribution, which is expected to fuel the demand for cold chain distribution.
Cardiovascular diseases are known to be the leading cause of death globally. According to the report published by the American Heart Association, in 2018, around 92.3 million people in the U.S. were living with some form of cardiovascular disease and this disease is the most common cause of mortality in the country compared to cancer and other chronic diseases. It also reported that around 2,300 people in the U.S. die due to cardiovascular disease per day, which is around 1 death every 38 seconds. Thus, such factors are anticipated to propel segment growth during the forecast period. However, introducing a new cardiovascular drug in the market presents many challenges such as stringent regulatory policies for clinical trials and late-stage failures. Supplies are prepared according to changes in the dosage, the number of sites, and packaging design.
North America dominated the market and accounted for the largest revenue share of 50.4% in 2020 owing to the highest number of clinical trials being conducted in the region. Asia Pacific is anticipated to witness the fastest CAGR of 6.2% over the forecast period. Various factors responsible for this growth include the increasing number of healthcare companies conducting clinical trials in the region, supportive government legislations, and availability of cost-effective products.
Asia Pacific is expected to be one of the fastest-growing regions in the market. The tremendous growth in clinical research is expected to drive the market in the region. The primary factors driving the growth of clinical research in the region include low treatment and the presence of a diverse group of patients that are easy to recruit.
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players in the Clinical Trial Supplies Market include: Almac Group; Biocair; Catalent, Inc.; KLIFO; Movianto (Walden Group); PCI Pharma Services; Sharp; Thermo Fischer Scientific, Inc.; Marken; Parexel International Corporation
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
- By Clinical Phase
- Phase I
- Phase II
- Phase III
- By Product & Services
- Storage & Distribution
- Cold Chain Distribution
- Non-cold Chain Distribution
- Supply Chain Management
- By End-use
- Medical device
- By Therapeutic Use
- CNS Disorders
- Infectious Disease
- Metabolic Disorders
- United Kingdom
- Rest of Europe
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Clinical Trial Supplies market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Clinical Trial Supplies market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Clinical Trial Supplies markets more accurate and reliable.
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
Key Points Covered in Clinical Trial Supplies Market Study:
- Growth of Clinical Trial Supplies in 2021
- Market Estimates and Forecasts (2017-2027)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Clinical Trial Supplies and How to Navigate
- Key Product Innovations and Regulatory Climate
- Clinical Trial Supplies Consumption Analysis
- Clinical Trial Supplies Production Analysis
- Clinical Trial Supplies and Management