Global Clinical Trial Supplies Market, By Product And Services (Manufacturing ,Storage & Distribution (Cold Chain Distribution, on-cold Chain Distribution),Supply Chain Management), By Therapeutic area (Oncology ,CNS and mental disorders ,Cardiovascular diseases ,Digestive disorders ,Infectious diseases ,Metabolic disorders ,Immunology ,Blood disorders ,Other), By End Users (Hospitals ,Pharmaceutical & Biotechnology companies ,Contract Research Organisations (CROs) ,Medical Devices Companies ,Other ) and opportunities and forecast 2020-2027
Clinical Trial Supplies Market Overview
The pharmaceutical and biopharmaceutical sector is one among the largest R&D spenders globally. Within the last decade, the R&D expenditure of pharmaceutical and biopharmaceutical companies has risen considerably. This is often expected to guide to an increase within the number of clinical trials conducted globally. Consistent with the Pharmaceutical Research and manufacturers of America (PhRMA), PhRMA members have invested significantly in drug development efforts. Companies within the market are actively looking to support R&D efforts. An extra increase in R&D spending within the coming years will significantly boost drug discovery and development activities, thus driving the demand for clinical test supplies.
Drug discovery and development involve high costs because of the high attrition rate of drug candidates in development. Since R&D for a few rare diseases is extremely challenging and requires a selected group of individuals to conduct a clinical test, drug R&D processes are often at risk of failure. Covid-19 Impact on Clinical Trial Supplies Market:
In addition, the present Global Market study offers an in depth analysis of the present COVID-19 pandemic impact on the market growth and its influence on the longer term growth of the worldwide Market. The recently published report demonstrates the elevation within the demand for the healthcare sector. The healthcare manufacturers have experienced future also as short term effect which incorporates supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption might be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and makers to the limit. In addition to the present, panic conditions have already spurred the demand for several healthcare products and services which are discussed intimately during this report. Moreover, the impact of this pandemic on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report. Clinical Trial Supplies Market Segment Overview
By Product and Services segment, Supply and chain management holds the major market share in estimated time period. Also, Globalization of clinical trials and a rise within the number of clinical sites are expected to drive the demand for supply chain management systems by bioscience companies and CROs. Moreover, Adoption of mobile and provide chain management technology is predicted to be the driving factor for segment growth.
By Therapeutic area, Oncology is that the largest segment during this market due to the high and growing number of research studies on cancer therapeutics and therefore the increasing number of companies that specialize in bringing innovative cancer drugs into the market. Considering the high incidence and prevalence of cancer, healthcare systems across the world are specializing in reducing the burden of cancer by adopting innovative diagnostic and therapeutic approaches.
By End-users, the pharmaceutical and biotechnology companies accounted for the most important share of this market in 2020. This share is attributed to the rising R&D efforts by these companies.
Market Analysis, Insights and Forecast – By Product and Services
- Storage & Distribution
- Cold Chain Distribution
- Non-cold Chain Distribution
- Supply Chain Management
Market Analysis, Insights and Forecast – By Therapeutic area
· CNS and mental disorders
· Cardiovascular diseases
· Digestive disorders
· Infectious diseases
· Metabolic disorders
· Blood disorders
Market Analysis, Insights and Forecast – By End Users
· Pharmaceutical & Biotechnology companies
· Contract Research Organisations (CROs)
· Medical Devices Companies
· Other Clinical Trial Supplies Market Regional Overview
Region-wise, in terms of regions, North America accounted for the biggest share of the clinical trial supplies market, followed by Europe & Asia Pacific. The growing number of registered clinical trials and significant investments in R&D for clinical trials during this region are major factors driving the expansion of the North American market.
Clinical Trial Supplies Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Clinical Trial Supplies Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Clinical Trial Supplies are highlighted below.
· In April 2021, Thermo Fisher announced plans to acquire PPD to enhance its offerings in clinical research services and to support clinical trials Clinical Trial Supplies Market, Key Players
· Thermo Fisher
· Catalent, Inc.
· UDG Healthcare
· Piramal Pharma Solutions
· Almac Group
· PCI Pharma Services
· PRA Health Sciences
· Liveo Research
· SIRO Clinpharm
· KLIFO A/S