DUBLIN, Jan. 8, 2024 /PRNewswire/ — The “Global Clinical Trial Supplies Market by Services (Manufacturing, Packaging, Logistics), Phases, Type (Small Molecules, Biologics), Therapeutic Areas (Oncology, CVD, Infectious, Immunology), End User (Pharma, Biotech, CROs), & Region – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global clinical trial supplies market is projected to reach USD 6.3 billion by 2028 from USD 3.9 billion in 2023, at a CAGR of 9.9%
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall clinical trial supplies market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies.
Factors such as the increasing number of clinical trials, growing product pipeline, and increasing decentralization of clinical trials are likely to have a positive impact on market growth.
The logistics and distribution segment held the dominant share in 2022
Based on services, the global clinical trial supplies market is segmented into pathogen component, adjuvant emulsions, particulate adjuvants, saponin-based adjuvants and other adjuvants. The adjuvant emulsions segment held a dominant share in the market in 2022. Extensive use of adjuvant emulsions in COVID-19 & other infectious diseases and the rising prevalence of contagious diseases are likely to have positive impact on the growth of the market.
Phase II segment accounted for the largest share of the phase segment in 2022
Based on phase, the clinical trial supplies market is segmented into phase I, phase II, phase III, phase IV, BA/BE studies. In 2022, the phase II segment accounted for the largest share of the clinical trial supplies market. The segment held the dominant share in the market owing to various factors such as increasing the number of registration in clinical trials and the rising R&D investment by pharmaceutical and biotechnologies company for new cancer drug development.
Asia-Pacific region is likely to grow at a faster pace
Asia-Pacific region is anticipated to grow at a significant CAGR during the forecast period. The growth of the region is majorly driven by the increasing number of registered clinical trials.
The increasing decentralization of clinical trials from China, India, and Japan due to presence of prominent players are engaged in providing services for clinical trial, supports market growth in the Asia-Pacific.
Premium Insights
- Rising Prevalence of Infectious Diseases to Drive Market Growth
- Small-Molecule Drugs Accounted for Largest Share of North American Clinical Trial Supplies Market in 2022
- Logistics & Distribution Services to Continue to Dominate Market in 2028
- Pharmaceutical & Biotechnology Companies Accounted for Largest Market Share in 2022
- Asia-Pacific Countries to Register Highest Growth Rates from 2023 to 2028
Market Dynamics
Drivers
- Increasing R&D Investments by Biopharma Companies
- Growing Number of Clinical Trials
- Growing Decentralization of Clinical Trials
- Rising Prevalence of Orphan and Rare Diseases
- Increasing Outsourcing Activities in Emerging Asian Economies
Restraints
- High Cost of Drug Development
Opportunities
- Growth Opportunities in Emerging Markets
- Increased Investments in Development of Biologics and Biosimilars
- Rising Demand for Specialized Testing Services
Challenges
- High Cost of Clinical Trials
Company Profiles
Key Market Players
- Thermo Fisher Scientific, Inc.
- Catalent, Inc.
- Eurofins Scientific
- Piramal Pharma Solutions
- PRA Health Sciences (A Subsidiary of Icon PLC)
- Marken (A Subsidiary of UPS)
- Parexel International (MA) Corporation
- Biocair
- Almac Group
- Sharp Services, LLC
- PCI Pharma Services
- Nuvisan
- Lonza Group
Other Players
- OCT Group LLC
- Corex Logistics Limited
- Acnos Pharma GmbH
- Clinical Services International
- KLIFO
- Clinigen Limited
- Ancillare L.P.
- N-SIDE
- ADAllen Pharma
- Durbin
- Recipharm AB
- IPS Pharma
For more information about this report visit https://www.researchandmarkets.com/r/m9kq4x
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