According to a report,“Clinical Trial Supplies Market Analysis By Phase (Phase I, Phase II, Phase III), By Product & Services (Manufacturing, Storage & Distribution, Supply Chain Management), By End-Use, By Therapeutic Use, By Region, And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc., The global clinical trial supplies market is expected to reach USD 3.3 billion by 2025. The market is expected to witness growth at 7.3% CAGR owing to 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.
Key Takeaways from the report:
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On the basis of clinical phase, the market is anticipated to be dominated by Phase III in 2025. The presence of large number of molecule estimated to reach Phase III by 2020 is the primary factor responsible for this prediction.
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By services, storage and distribution is anticipated to witness the fastest growth at a CAGR of over 7.0%.
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Key end-users of this industry are pharmaceuticals, and biologics. Biologics are expected to witness fastest growth owing to the increasing research in the field of genetics and biotechnology such as development of nanoparticle based drug delivery systems.
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In terms of therapeutic use or clinical indication, oncology dominates the market. The highest research activity as of 2016 is being performed for this indication, which in turn is expected to drive the market.
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Few of the industry players include Movianto GmbH, Thermo Fischer Scientific, Sharp Packaging Services, Catalent Pharma Solution, Biocair International Ltd., PCI Services, Almac Group Ltd, and Patheon Inc. Other players present in the market space include Clinigen Group Plc, Merck Serono, and Chimerix.
U.S. clinical trial supplies market, by phase, 2014 – 2025 (USD Million)
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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.
Global clinical trial supplies market, by end-use, 2016 (USD Million)
Grand View Research has segmented the clinical trial supplies market by phase, product/service, end-use, therapeutic use and region:
Clinical Phase Outlook (Revenue, USD Million; 2014 – 2025)
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Phase I
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Phase II
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Phase III
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Others
Product/Service Outlook (Revenue, USD Million; 2014 – 2025)
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Manufacturing
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Storage & distribution
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Cold chain based
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Non-cold chain based
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Supply chain management
End-Use Outlook (Revenue, USD Million; 2014 – 2025)
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Pharmaceuticals
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Biologics
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Medical device
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Others
Therapeutic Use Outlook (Revenue, USD Million; 2014 – 2025)
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Oncology
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CNS
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Cardiovascular
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Infectious disease
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Metabolic disorders
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Others
Regional Outlook (Revenue, USD Million; 2014 – 2025)
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North America
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U.S.
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Canada
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Europe
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Germany
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UK
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Asia Pacific
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China
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Japan
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Latin America
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Mexico
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Brazil
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MEA
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South Africa
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Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com
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