Clinical Trial Supplies Market Size, Share, Analysis, Trends, Growth, 2032

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Methodology

Free Analysis

A clinical trial is a complex activity which requires management of several processes and functions. The primary aim of a pharmaceutical manufacturer in any of the clinical studies is to optimize the clinical trial supplies so that materials packed for the investigational purpose is distributed to the patients enrolled in the clinical trials on time. The activities included in the clinical trial supplies are clinical packaging, project management, labeling, randomization generation, blinding, supply chain logistics, return drug accountability, distribution, destruction, etc. Due to the escalating costs involved in the discovery and development of new drugs, the clinical trial supplies is gaining traction in the market.

The market for clinical trials supplies is witnessing strong growth rate due to the rising prevalence of chronic diseases such as HIV, cancer, and epilepsy; increased importance on determining the toxicity level of drug discovery in its early stage of development; and the increasing demand for outsourcing the drug discovery services to the other countries. Growing number of life sciences-related researches carried out in various countries and rising government funding in the discovery and development of new drugs the market for clinical trial supplies is expected to witness rapid growth in the forecast period. Even the new entrants entering the clinical trial supplies market are focusing on the launch of new products and technologies. But, the lack of trained professionals and infrastructure facilities is anticipated to hamper the market growth.

The market for clinical trial supplies market is segmented based on product/service type, application type, phase, and end user. Based on product/service type, the market is segmented into packaging & labeling, manufacturing, and storage and distribution. Based on applications, the clinical trial supplies market is segmented into oncology, CNS, cardiovascular, infectious diseases, metabolic disorders, and others. Based on the phase, the market is categorized into phase I, phase II, phase III, and others. The end-user segment is divided into contract research organizations, pharmaceutical and biotechnology companies, research institutes, & others.

North America holds the largest share in the market for clinical trial supplies owing to the increasing number of R&D activities in the field of drug discovery, the presence of a large number of multinational pharma and biotech companies which carry out clinical trials, and the availability of advanced and well-developed healthcare infrastructure. Europe holds the second largest share in the market due to rising government funding and high healthcare investment. The Asia Pacific is witnessing significant growth rate due to the unmet health care needs and increased government funding towards research activities. Also, most of the pharma companies are outsourcing their drug development services to various developing countries such as Malaysia, China, India, and Singapore which is further propelling the growth of clinical trial supplies market. 

Some of the leading players in clinical trial supplies market include KLIFO A/S, Patheon, Inc., Almac Group Ltd., PAREXEL International Corporation, PCI Services, Sharp Packaging Services, Biocair, Movianto, Thermo Fisher Scientific, Inc. Catalent Pharma Solutions, Inc., and others.