Clinical Trial Supplies Market Size And Forecast

Clinical Trial Supplies Market size was valued at USD 1.53 Billion in 2019 and is projected to reach USD 2.77 Billion by 2027, growing at a CAGR of 7.69 % from 2020 to 2027.

The Global Clinical Trial Supplies Market is mainly driven by increasing expenditure on R&D activities in pharmaceutical and biopharmaceutical companies. The increasing growth of the biopharmaceutical industry, government initiatives on clinical research, and regulation of clinical trials in regional markets are expected to propel market growth. The Global Clinical Trial Supplies Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Clinical Trial Supplies Market Definition

A clinical trial is a type of research that studies a test or treatment given to people as well as studies on how safe and helpful tests and treatments are. This study helps in finding out which medical approaches experiment is best for certain diseases and provides the best data for health care decision-making purposes. A clinical trial is the last stage in drug development in a long and careful research process that is carried out by scientists or researchers for a definite disease, whether drug or medical device. The drug development process generally begins in a lab, where scientists first develop and test new ideas related to the treatment of disease. Clinical trials can differ in size and cost and can involve a single research center or multiple centers, in one country or in multiple countries. The clinical study aims to ensure the scientific validity and reproducibility of the results.

Clinical trial supplies is very essential for avoiding overproduction, oversupply, and inventory expiration. Also, the implementation of stricter handling requirements for a wide range of biopharmaceutical products entering clinical trials, clinical trial supplies strategy needs to be constantly overhauled. Clinical trials are very complicated activities, which require the synchronization of different functions and processes. A pharmaceutical manufacturer’s primary goal in any clinical study is to optimize clinical trial supplies so that packaged investigation materials are distributed to patients enrolled in a clinical trial on time. These activities include project management, clinical packaging, randomization generation, labeling, supply chain logistics, blinding, distribution, return drug accountability, and destruction.

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Global Clinical Trial Supplies Market Overview

Research and development (R&D) activities are the most essential part of the business of pharmaceuticals and biopharmaceuticals companies. It enables them to come up with new advanced molecules for various therapeutic applications with considerable medical and commercial potential. Thus, the growth of this market is majorly driven by the increasing expenditure on R&D activities in pharmaceutical and biopharmaceutical companies. R&D expenditures are more specifically done for discovering, examining, and manufacturing new products, upfront payments, and milestones, improving existing outcomes, as well as demonstrating product efficacy and regulatory compliance before launch. The R&D investments vary as per their requirement and demand for the supplies for a clinical trial. It includes the cost of materials, supplies used, and salaries, also the cost of improving quality control.

Drug improvement and discovery is a time-consuming and expensive process. Over the complete drug developing phase, several testing services are required to check the quality and efficacy of the drug substance. Various potential players are investing in clinical supplies in the pharmaceutical industry. In February 2019, Sharp spent US$ 650,000 on the interactive response technology (IRT) solution to qualify appropriate supply allocation to reduce the costs incurred by the overproduction for sponsors. These results in the pharmaceutical and biotech companies depending on supplies for the services to the clinical trials, which is expected to drive the growth of the market. Moreover, the increasing growth of the biopharmaceutical industry, government initiatives on clinical research, and regulation of clinical trials in regional markets are expected to propel the market growth over the forecast period.

However, the increasing number of positive corona cases has restricted the growth of the Clinical Trial Supplies Market. Additionally, the mandatory isolations, lockdowns, and work from home or shutdown of many plants have disrupted the operation of clinical trials. Thus, the arrival of this pandemic is expected to hamper the market growth in the coming years.

Global Clinical Trial Supplies Market: Segmentation Analysis

The Global Clinical Trial Supplies Market is segmented on the basis of Service, Phase, Therapeutic Area, Drug Type, And Geography.

Clinical Trial Supplies Market, By Service

• Manufacturing
• Packaging, Labeling, and Blinding
• Comparator Sourcing
• Logistics
• Others

Based on Service, The market is bifurcated into Manufacturing, Packaging, Labeling, and Blinding, Comparator Sourcing, Logistics, and Others. The logistics services segment is expected to dominate this market during the forecast period. This is due to the globalization of clinical trials and the rising number of clinical trials that involve temperature-sensitive products.

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Clinical Trial Supplies Market, By Phase

• Phase I
• Phase II
• Phase III
• Phase IV
• BA/BE Studies

Based on Phase, The market is bifurcated into Phase I, Phase II, Phase III, Phase IV, and BA/BE Studies. The phase III segment is dominating the major market and is expected to continue its dominance over the forecast period. As it is phase III trials most expensive, time-consuming, and difficult to design and run.

Global Clinical Trial Supplies Market, By Therapeutic Area

• Oncology
• Cardiovascular Diseases
• Neurological Disorders
• Respiratory Disorders
• Others

Based on Therapeutic Area, The market is bifurcated into Oncology, Cardiovascular Diseases, Neurological Diseases, Respiratory Disorders, and Others. The oncology segment is expected to be the fastest-growing segment owing to the tremendous R&D pipeline of oncology drugs as the majority of oncology drugs require temperature-sensitive distribution.

Clinical Trial Supplies Market, By Drug Type

• Small-molecule Drugs
• Biologic Drugs

Based on Drug Type, The market is bifurcated into Small-molecule Drugs and Biological Drugs. The small-molecule drugs segment held the largest share of the market in past few years. However, it is expected that the biological drug segment will dominate the market in the coming years.

Clinical Trial Supplies Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Regional Analysis, The Global Clinical Trial Supply Market is classified into North America, Europe, Asia Pacific, and Rest of the world. North America holds the largest market share this trend is expected to continue during the forecast period. This is due to the presence of well-established CROs and the growing investments in R&D activities by pharmaceutical and biopharmaceutical companies.

Key Players

The “Global Clinical Trial Supplies Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Almac 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), Thermo Fisher Scientific, Inc. (US), and Capsugel (Switzerland). The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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