Global clinical trial supplies market was valued at USD 1.91 billion in 2020. It is projected to grow at 6.0% compound annual growth rate (CAGR), between 2021 and 2028. The market is expected to be driven by globalization, increased number of clinical trial, as well as a rise in the use of biologics and biosimilar medicines in clinical trials. The market will also benefit from rapid technological advances in supply chain management. Due to increasing pressure to lower R&D costs and improve operational efficiency, the adoption of a supply-chain management system is on the rise. Clinical trial supplies make up a large portion of total R&D spending for biopharmaceutical companies.
Certain models have been introduced to the market in response to the COVID-19 crisis. Virtual trials are gaining in popularity as a foundation technology and will likely see significant growth over the next few years. Due to the pandemic, around 80.00% have had to cancel or place on hold at least one clinical study. Virtual trials are slowly being adopted to avoid these situations. This allows for innovative approaches to trials and improves patient experiences.
There has been a significant rise in the number of biologics and temperature-sensitive drugs in clinical trials. Currently, 38.0% of pharmaceutical drugs are temperature-sensitive and 35.0% of late-phase pharmaceutical drugs are biologics. This number is expected to increase in the future, as the demand for biologics is growing owing to lesser adverse effects as compared to traditional ties for the storage of temperature-sensitive drugs. The demand for cold chain facilities will increase due to the increased use of biologics in clinical trials. Eight of the top ten most-used biopharmaceutical products, including biologics, will need cold chain facilities by 2022. High demand for HTML3_ biosimilars HTML3_ in both developed and developing economies is expected to increase cold chain supply, which will contribute to the market growth for clinical trial supplies over the forecast period.
Most clinical trials are conducted in developing countries. Biopharmaceutical companies have begun to outsource clinical trial to countries such as Asia Pacific and Central and Eastern Europe. This is due to the rising cost of clinical trials, and the complications involved in recruiting patients. Biopharmaceutical companies can also conduct clinical trials for rare diseases due to the diversity of disease in developing countries. Biopharmaceutical companies also have greater economic opportunities in certain regions like Asia Pacific. For example, the governments of Singapore and China provide funds for biomedical research. Latin America has fewer language barriers which makes it easier to recruit patients and allows for faster clinical trials.
The segment of phase I clinical trial supplies is expected to grow at 6.5% annually by 2020. This segment was dominated by phase III trials due to its high demand for supply chain management. The fastest segment, phase I clinical trials, is expected to grow the most due to the growing R&D activities within the biotech space. However, phase III clinical trial are likely to dominate this market over the forecast period.
Phase III clinical trials can be more complicated than other phases. This phase has the most complex phase, despite the relatively small number of drugs involved. This phase has the highest failure rate because of the complexity of the dosing process and the small sample size. Failure can lead to financial and human losses. Most failures are caused by noncompliance with safety or efficacy standards. This scenario could increase the demand for efficient supply chains and logistics which can have a positive impact on market growth.
The market was dominated by the supply chain management segment in 2020. It accounted for 46.9% of the highest revenue share. This is the case in all regions, except the U.S. where the lucrative CAGR for the manufacturing segment will be 6.1%.
The globalization of clinical trials, and the increase in clinical sites is expected to drive demand for supply chain management software by life science companies as well as CROs. Segment growth will be driven by the adoption of supply chain management and mobile technology. Sonoco Thermosafe's survey found that respondents use interactive response systems and Microsoft Office to contribute 25.0% and 24.0% respectively.
The market was dominated by the pharmaceuticals segment, which accounted for 42.4% of the total revenue in 2020. This segment is expected to grow at 6.1% over the forecast period. The segment's growth is likely to be affected by a slight decrease in the number of pharmaceutical drugs in its R&D pipeline. This has resulted in biological drugs being substituted for them.
The number of innovative drugs containing pharmaceutical drugs has dropped dramatically and will soon be replaced by biologics. Despite pharmaceutical drugs accounting for the largest number of drugs in clinical trials, there is likely to be an increase in biologic drugs. The demand for safer, more effective, and less expensive medicines will drive segment growth.
In 2020, the largest market share was held by the oncology segment which accounted for 38.15 percent of the total revenue. Due to the large R&D pipeline for oncology drugs, the segment will see the highest CAGR during the forecast period. The majority of oncology drugs require temperature-sensitive distribution, which is expected to fuel the demand for cold chain distribution.
Globally, cardiovascular diseases are the leading cause for death. According to the American Heart Association's report, 92.1 million Americans were affected by cardiovascular disease in 2018. This disease was the leading cause of death in America. It is also the most common than cancer and other chronic diseases. According to the American Heart Association, approximately 2,300 Americans die each day from cardiovascular disease. This is roughly 1 death per 38 seconds. These factors will drive segment growth over the forecast period. However, the introduction of a new cardiovascular drug to the market poses many challenges. These include strict regulatory policies and failures in late-stage clinical trials. The packaging design, dosage, and number of sites can all affect the way supplies are prepared.
North America was the dominant market, accounting for 50.9% of the total revenue in 2020. This is due to the high number of clinical trials that are being performed in the region. Asia Pacific will see the fastest expected CAGR of 6.4% during the forecast period. This growth can be attributed to a number of factors, including the growing number of healthcare companies that conduct clinical trials in the region and supportive legislation as well as the availability of cost-effective products.
Asia Pacific is expected be the fastest-growing region in the market. Market growth is expected to be driven by the rapid expansion of clinical research. Low treatment costs and easy recruitment are the main factors that have fueled the growth in clinical research in the region.
Diverse players are currently expanding their geographic presence and developing niche business units that cater to the industry. Catalent, for example, increased its capabilities at Philadelphia's clinical supply services facility to support sponsors who are developing gene and cell therapies in April 2021. The market for clinical trial supplies is dominated by the following:
Almac Group
Biocair
Catalent, Inc.
KLIFO
Movianto (Walden Group).
PCI Pharma Services
Sharp
Thermo Fischer Scientific, Inc.
Marken
Parexel International Corporation
Up Market Research published a new report titled “Clinical Trial Supplies Market research report which is segmented by Clinical Phase (Phase II, Phase I, Phase III), By Players/Companies Parexel International Corporation, PCI Pharma Services, KLIFO, Sharp, Catalent Inc, Biocair, Marken, Thermo Fischer Scientific Inc, Movianto (Walden Group), Almac Group”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Clinical Trial Supplies Market Research Report |
By Clinical Phase | Phase II, Phase I, Phase III |
By Companies | Parexel International Corporation, PCI Pharma Services, KLIFO, Sharp, Catalent Inc, Biocair, Marken, Thermo Fischer Scientific Inc, Movianto (Walden Group), Almac Group |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 226 |
Number of Tables & Figures | 159 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Clinical Phase (Phase II, Phase I, Phase III).
Clinical Trial Supplies Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Clinical Trial Supplies Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
Reasons to Purchase the Clinical Trial Supplies Market Report:
Some other reports from this category!