According to the new market research report “Clinical Trial Supplies Market by Services (Manufacturing, Packaging, Logistics), Phases (I to IV), Type (Small Molecules, Biologics), Therapeutic Areas (Oncology, CVD, Infectious, Immunology), End User (Pharma, Biotech, CROs) – Global Forecast 2027″, The global clinical trial supplies market is projected to reach USD 5.7 billion by 2027 from USD 3.6 billion in 2022, at a CAGR of 9.7% during the forecast period of 2022 to 2027.
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Factors such as increasing registered clinical trials globally and increase in R&D expenses in pharmaceutical and biotechnology companies is largely driving this market.
On the basis of service, the clinical trial supplies market is segmented into manufacturing; packaging, labeling, and blinding; comparator sourcing; logistics & distribution; storage & retention; and other services. In 2021, Logistics & distribution services have been accounted for the largest share, as a result of increase in decentralization of clinical trials.
On the basis of phase, the clinical trial supplies market is divided into Phase I, Phase II, Phase III, Phase IV, and BA/BE studies. In 2021, Phase III clinical trials accounted for the largest share of the market. Phase III trials are the most difficult to design and run, especially for therapies for chronic medical conditions, expensive and time consuming and this phase involves a large patient population.
On the baisis of type, the clinical trial supplies market is broadly segmented into small-molecule drugs, biologic drugs, and medical devices. In 2021, small-molecule drugs accounted for the largest share of the market. Factors such as their low cost, growing number of start-ups and ease of working are driving this segment.
On the basis of therapeutic area, the clinical trial supplies market is segmented into oncology, CNS & mental disorders, cardiovascular diseases, digestive disorders, infectious diseases, metabolic disorders, immunology, blood disorders, and other therapeutic areas (respiratory disorders, dermatological disorders, rare diseases, ENT diseases, Nephrology). In 2021, Oncology is the largest segment in this market owing to the growing number of research studies and the growth in emerging companies focusing on bringing innovative cancer drugs into the market.
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On the basis of end users, the clinical trial supplies market is divided into pharmaceutical & biotechnology companies, contract research organizations (CROs), and medical device companies. These end users use clinical trial services for various activities in the supply chain like comparator sourcing, manufacturing, packaging, labeling, storage, and retention. In 2021, the pharmaceutical and biotechnology companies accounted for the largest share in this market. Factors such as the rising R&D efforts by pharmaceutical and biotechnology companies. The fastest-growing segment is the CROs owing to the increasing outsourcing of clinical research by companies.
Geographical Growth Scenario:
On the basis on the region, the clinical trial supplies market is broadly segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2021, North America is the largest regional market for clinical trial supplies. Europe is the second-largest regional market in 2021. Factors such as, presence of rising R&D expenditure by pharmaceutical & biopharmaceutical companies well-established CROs. However, the Asia Pacific market is projected to register the highest growth during the forecast period due to the presence of many emerging players and the ease and cost-effectiveness in Asia Pacific countries.
Key Market Players:
Key players in the Clinical trial supplies market include Thermo Fisher Scientific (US), Marken (US), Catalent, Inc. (US), Eurofins Scientific (France), and PRA Health Sciences (US) and Among others
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