Clinical Trial Supplies Market Share, Trends, and Business Opportunities
The factors that propel the growth of the market include growth of biopharmaceutical industry, increase in a number of clinical trials, growing complexities, rising number of biosimilar and biologics drugs in trials, and development in supply chain management technology.
Clinical Trial Supplies Market(firmenpresse) - Global clinical trial supplies market is anticipated to expand at a significant CAGR of 6.94% in the upcoming period as the scope, product types, and its applications are increasing across the globe. Clinical trial supply is responsible for offering clinical supplies needed for clinical studies of medical devices or drugs in accordance with the protocol and applicable regulatory necessities. The factors that propel the growth of the market include growth of biopharmaceutical industry, increase in a number of clinical trials, growing complexities, rising number of biosimilar and biologics drugs in trials, and development in supply chain management technology.On the other hand, a factor may hamper the growth of the market including the high cost of clinical trials. The market could be explored by clinical phase, product/service type, therapeutic use, end use, and geography.
Clinical trial supplies could be explored by clinical phase as Phase III, Phase II, Phase I, and Others. The “Phase I clinical trials” segment led the clinical trial supplies market in 2017 and will continue to lead in the forecast period. The key factors that may be attributed to the growth of market includes increasing number of Phase I clinical trials being outsourced, high investment in this sector, increasing globalization and less sample population for outsourcing the main volume of these trials.
Based on product/service type, the market could span Storage & distribution (Non-cold chain based, and Cold chain based), Manufacturing and Supply chain management. The market could be explored based on therapeutic use as Cardiovascular, CNS, Oncology, Metabolic disorders, Infectious disease, and Others. The “Oncology” segment led the market in 2017 and will continue to lead in the forecast period.
The market could be explored based on end use as a Medical device, Pharmaceuticals, and Biotechnology, Biologics and Others. The “Pharmaceuticals and Biotechnology” segment led the clinical trial supplies market in 2017 and will continue to lead in the forecast period. The key factors that may be attributed to the growth of the market includes increasing demand and increasing R&D activities in the biotechnological sector.
North America and Europe accounted for the major share of the clinical trial supplies market in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include a high share of clinical trials directed in this region and a better number of clinical trial supply companies with the most progressive technology. North America is followed by Asia-Pacific region owing to easy access to the patient, its diverse population, proximity to North America and low translation cost.
Some of the key players that fuel the growth of the clinical trial supplies market comprise Amerigroup, Alamo Group Ltd., Durbin plc, ADAllen Pharma, Biocair, KLIFO A/S, Movianto, Rubicon Research Pvt. Ltd., Catalent Pharma Solutions, Inc., Patheon, Inc., PCI Services, PAREXEL International Corporation, and Sharp Packaging Services. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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