Global Clinical Trial Supplies Market Size, by Products & Services (Manufacturing, Packaging, Logistics, Storage & Distribution), By Phase (I, II, III, IV), By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa), Trend Analysis, Market Competition Scenario & Outlook, 2020-2026
- Published Date: July 2020
- Report ID: BWC20102
- Available Format: PDF
- Page: 162
Global Clinical Trial Supplies Market – Market Outlook & Trends
The Aggregate Revenues of Global Clinical Trial Supplies Market stood at USD 1867.44 million in 2019, and the same is anticipated to grow at a CAGR of 7.40 % and reach USD 3078.06 million by 2026. Globalization, rising clinical trials, and many biologics and biosimilar drugs in trials are the major factors driving the expansion and growth of this market. The innovations in supply chain management technology also enhance market growth. Increasing acceptance of the supply chain management system helps reduce the growing burden of R&D costs as the supplies entail a high cost in the total R&D expense of biopharmaceutical companies besides increasing functional competences. Biopharmaceutical companies outsource their supply provisions to global and regional supply players to cut down the cost. Outsourcing also helps them focus more on the trial procedure.
The global clinical trial supplies market depends on the extent of therapeutic and biopharmaceutical R & D expenses and the number of clinical trials. The escalating costs of drug development and clinical trials are the significant challenges for clinical trials due to the adverse impact of coronavirus limiting market development during the prediction period.
Global Clinical Trial Supplies Market – Overview
A safe clinical trial needs an agile supply chain management of the drugs under study, smooth compliance of many local and global practices, and accessible infrastructure. Clinical trial supplies management is necessary for avoiding overproduction, inventory expiration, and oversupply. With the increasing expenses of drug development, clinical trial supplies have gained more significance. Besides, the stringent guidelines for carrying clinical trials of various biopharmaceutical products shift the emphasis on the right clinical trial supplies strategy. It needs to be continuously revised, and it also calls for assimilating numerous third-party vendors across all phases of clinical growth.
Increasing Pharmaceutical and Biopharmaceutical R&D Expenditures
Research and development (R & D) is an essential and vital part of medicines and biopharmaceuticals companies. R & D enables them to develop new molecules for various therapeutic applications with considerable medical and market potential. R&D spending by biopharmaceutical companies has also increased over the years. Rising adoption of the supply chain management system ensures cost-cutting and enhances operational competence. It, in turn, effectively contributes to biopharmaceutical companies' future R & D expenditure. Besides, biopharmaceutical companies are outsourcing their provisions to global and regional supply players to reduce the price of supplies and focusing more on the experimental procedure.
Rising chronic diseases
The worldwide clinical trial supplies market is witnessing a strong growth due to the growing long-lasting diseases such as cancer, epilepsy, and HIV, rising demand for outsourcing of drug discoveries, and increased stress on assessing toxicity level in early stages of drug invention. Furthermore, a rising number of life sciences research in various countries and increasing government funding to develop new drugs are likely to push the clinical trial supplies market. New entrants are concentrating on new technologies and the introduction of new products in the market. However, the lack of trained professionals and lack of infrastructure are predictable to hinder the market's development.
Global Clinical Trial Supplies Market: Segmentation
Based on product and services, the market is divided into Manufacturing,
Packaging, Logistics, and Storage & Distribution segments. The storage and distribution are projected to be the most secure growing segment due to the increasing request for outsourced storage and delivery facilities. Supply chain management is anticipated to control the market due to growing pressure to curb R & D costs and technology progression. Cold chain distribution is expected to observe the most accelerated growth due to the vast number of biologics and temperature-sensitive drugs. However, non-cold chain distribution will continue to dominate this segment over the prediction period.
Phase I is anticipated to emerge as the most robust section due to the rise in the volume of outsourced Phase I trials. Lesser sample size and high capital investment are the major factors responsible for these outsourced trials' primary capacity. Approximately 54.0% of Phase-I tests are outsourced to date, and more trials are expected due to globalization.Phase III trials' process entails a high level of difficulty compared to all others. Although the number of drugs in this phase is moderately low, the biggest problem is associated with this phase. The failure rate in this phase is the highest as the sample size and study design go through complicated administration of dosage at the critical level.
Based on region, Global Clinical Trial Supplies Market is segregated into five regions— North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Global Clinical Trial Supplies Market: Regional Insights
North America and Europe are the top contributors to the global clinical trial supplies market due to the significant number of clinical trials conducted in the region and a large number of clinical trial supply players with advanced technology. Asia Pacific region is likely to face the high cost of clinical trials due to lesser technological development. However, the Asia Pacific is predicted to register the most substantial growth due to its varied population, easy access to patients, nearness to North America, and low adaptation costs. Latin America and MEA are also anticipated to witness significant growth due to an increase in the number of clinical trials led in this region.
The major players in this market are 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) and others.
· In 2018, Catalent generated ~51% of its total revenue from the US. The company is also focusing on increasing its customer base and expanding its reach in untapped APAC markets.
· In April, 1.6 PCI Pharma Services (US) launched a packaging facility for the primary and secondary packaging for potent products in Ireland.
Scope of the Report
By Products & Services
Ø Storage & Distribution
Ø Phase I
Ø Phase II
Ø Phase III
Ø Phase IV
Ø North America
Ø Asia Pacific
Ø Latin America
Ø Middle East & Africa
The objective of the Study:
Ø To analyze and project the Global Clinical Trial Supplies Market size in terms of value.
Ø To examine the region-wise segmentation of the Global Clinical Trial Supplies Market and assess the market size in terms of value for each region viz., North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and their leading countries.
Ø To outline, segregate, and estimate the Global Clinical Trial Supplies Market based on different classifications, i.e., By Products and Services Type, By phase, and By Region.
Ø To scrutinize category-wise competitive developments in the Global Clinical Trial Supplies Market By Products and Services Type, By phase and By Region.
Ø To interpret the current market dynamics by analyzing growth drivers, restraints, opportunities, and challenges and their impact.
Ø To provide a detailed competitive landscape, including major players, strategic profiles, and market shares.
Business Questions Answered by the Report
Ø How will the market drivers, restraints, and opportunities affect the market dynamics?
Ø What will be the market size in terms of value and volume and market statistics with a detailed classification?
Ø Which segment dominates the market or region, and which one will be the fastest-growing, and why?
Ø Who are the key players in the market, and what is their share?
Ø What is the strategy adopted by key players, and how does it affect the existing and new players?
Customization Scope for the Client
Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization as per client’s specific needs. The following customization options are available for the report:
Ø Additional Company Information
Ø Detail Analysis of five additional companies
Ø Additional country analysis
Ø Detailed segment analysis
Historical data – 2016-2019
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Million
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, South Korea UAE, South Africa, Saudi Arabia.
By Products and Services Type, By phase, By Region
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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