Clinical Trial Supplies market size was valued at US$ 11.7 billion in 2020
The global Clinical Trial Supplies market size is expected to be worth around US$ 13.3 billion by 2030, according to a new report by Vision Research Reports.
The global Clinical Trial Supplies market size was valued at US$ 11.7 billion in 2020 and is anticipated to grow at a CAGR of 17.3% during forecast period 2021 to 2030.
Growth Factors
The 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.
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.
Report Highlights
Phase I is expected to be the fastest growing segment due to rise in number of outsourced Phase I trials. Lesser sample population and high capital investment are the major factors responsible for outsourcing the major volume of these trials. It has been identified that about 54.0% of Phase I trials are outsourced and the number is expected to increase owing to globalization of these trials.
Phase III trials process is characterized to possess a high level of complexity compared to all others. Although, the number of drugs in this phase is comparatively low, the complexity associated with this phase is the highest. Failure rate in this phase is the highest as the sample size and study design requires complex dosing at an optimum level.
Based on product and services, storage and distribution is expected to be the fastest growing segment owing to rising number of outsourced storage and distribution facility. Supply chain management is expected to dominate the market due to rising pressure to curb R&D cost and advancement in technology. Cold chain distribution is expected to witness the fastest growth due to rising number of biologics and temperature sensitive drugs while non-cold chain distribution is expected to dominate this segment over the forecast period.
As of 2016, supply chain management forms the largest segment with all the industry players paying high emphasis on maintaining experienced personnel clinical trial supply managers. This scenario is true for most of the regions across the globe, except in the U.S., wherein manufacturing is also expected to gain momentum at a lucrative rate. Over the forecast period, manufacturing is anticipated to witness the fastest growth at CAGR over 7.0%.
Biologics is expected to be the fastest growing segment based on end-use while pharmaceutical is expected to be the largest segment over the forecast period. The demand for biosimilar in both emerging and developed countries is also expected to fuel the growth of the industry.
Pharmaceuticals contributed to about 40.0% of the market share in 2016 and is expected to witness growth at a CAGR of 7.3% during the forecast period. Steady decrease in R&D pipeline for pharmaceutical drugs has been observed and it is being substituted by biological drugs, which is expected to impact the segment over the next eight years.
In terms of therapeutic area, oncology is expected to be the fastest growing and also the dominating segment owing to tremendous R&D pipeline of oncology drugs as majority of oncology drugs require temperature-sensitive distribution, which is further anticipated to fuel the growth of cold chain distribution.
Clinical trial supplies in oncology include primary and secondary packaging. The main objective of the packaging is to improve the patient compliance. Packaging must prevent the vials from leakage and other gases to aerosolize. The packaging should be done in accordance with the dosage. For instance, the hospitals in the U.S are disposing millions of cancer vials due to improper dosage, according to the United Press International. In 2016, Intensity Therapeutics Inc. funded USD 10 million towards clinical supplies for cancer-based research.
North America and Europe are the leading contributors to the global clinical trial supplies market owing to high share of clinical trials conducted in this region and greater number of clinical trial supply players with the most advanced technology. High cost of conducting clinical trial is expected to be the reason for relatively less growth compared to Asia pacific region.
Asia Pacific is expected to witness the fastest growth owing to its diverse population, easy access to patients, proximity to North America, and low translation cost. Latin America and MEA are also expected to witness significant growth owing to rise in number of clinical trials conducted in this region.
| Report Coverage | Details |
| Market Size | US$ 13.3 billion by 2030 |
| Growth Rate | CAGR of 17.3% From 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Clinical Phase, Product &Service, End-Use, Therapeutic Use, |
| Regional Scope | North America, Latin America, Europe, Asia Pacific, MEA |
| Companies Mentioned | Almac Group; Biocair; Catalent, Inc.; KLIFO; Movianto (Walden Group); PCI Pharma Services; Sharp; Thermo Fischer Scientific, Inc.; Marken; Parexel International Corporation |
Key Players
KLIFO A/S, PAREXEL International Corporation, Almac Group Ltd, Movianto GmbH, Patheon Inc., Biocair International Ltd., PCI Services, Thermo Fischer Scientific, Sharp Packaging Services, and Catalent Pharma Solutions. Clinigen Group Plc, Merck Serono, and Chimerix.
Market Segmentation
Clinical Phase Outlook
Phase I
Phase II
Phase III
Other
Product & Services Outlook
Manufacturing
Storage & Distribution
Cold chain distribution
Non-cold chain
Supply chain management
End-Use Outlook
Pharmaceutical
Biologics
Medical device
Others
Therapeutic Use Outlook
Oncology
CNS
Cardiovascular
Infectious disease
Metabolic disorders
Others
Regional Outlook
North America
The U.S.
Canada
Europe
Germany
The U.K.
Asia Pacific
China
Japan
Latin America
Mexico
Brazil
MEA
South Africa
Saudi Arabia
The Clinical Trial Supplies market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Clinical Trial Supplies market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Clinical Trial Supplies market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Clinical Trial Supplies market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Clinical Trial Supplies market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Clinical Trial Supplies capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Clinical Trial Supplies by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Clinical Trial Supplies market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Clinical Trial Supplies market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Clinical Trial Supplies market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Clinical Trial Supplies industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Clinical Trial Supplies market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Clinical Trial Supplies market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Clinical Trial Supplies market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Clinical Trial Supplies market. These factors have benefited the growth of the global market for Clinical Trial Supplies. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Clinical Trial Supplies. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Clinical Trial Supplies are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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