Dublin, March 23, 2023 (GLOBE NEWSWIRE) -- The "Global Clinical Trial Supply & Logistics Market Size, Share & Industry Trends Analysis Report By End-user, By Therapeutic Area, By Phase, By Service, By Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Clinical Trial Supply & Logistics Market size is expected to reach $5.480 billion by 2028, rising at a market growth of 7.8% CAGR during the forecast period.
Key Market Players
List of Companies Profiled in the Report:
- Thermo Fisher Scientific, Inc
- Catalent, Inc
- Marken (United Parcel Service of America, Inc.)
- Piramal Enterprises Limited
- FedEx Corporation
- Inizio Group Limited (Clayton, Dubilier & Rice)
- Parexel International Corporation (Phoenix Parentco, Inc.)
- Almac Group
- Movianto (Walden Group SAS)
- Deutsche Post DHL Group (The Deutsche Post AG)
Clinical trial supply and logistics entail managing clinical supplies required for clinical investigations of pharmaceuticals or medical devices in line with protocol and applicable regulatory standards. This procedure oversees the planning, packaging, forecasting, labeling, sourcing, and distribution of clinical goods for commercial and government sponsors whose clinical trials are in phases 1-4.
Clinical trial providers collaborate with numerous third-party vendors and technicians at various stages of clinical distribution to confirm that the study medications offered are of sufficient amount and quality. This management, in terms of medicine supply, provides full tracking from manufacturing to dispensing and disposal, reducing risks such as product expiration or depletion.
The increased number of clinical trials and harmonization of regulations, rising R&D spending by pharmaceutical and biotechnology companies, and technical developments in the supply chain are major market drivers. Due to the increase in the expense of clinical trials, there is also an increase in outsourcing these services.
The COVID-19 pandemic imposed logistical obstacles on the clinical trial industry and sponsors encountered numerous challenges during the pandemic. The rapid and widespread adoption of the remote trial technique has significantly altered the traditional supply chain. Direct-to-patient solutions were utilized to address the diverse logistical challenges of remote research.
Decentralized trials facilitate sponsors' access to a broad audience. Even though the pandemic has boosted the acceptance of these trials, there will be a significant demand for them even after COVID-19 is eradicated.
COVID-19 Impact Analysis
COVID-19 negatively influenced the market due to disruptions in the supply chain and the government's decision to reduce the number of commercial airlines to limit the spread of the virus. However, during the second half of the pandemic, the market began to recover due to increased demand for COVID- 19 vaccinations.
According to the WHO, there are 169 vaccines in the clinical development phase and 198 in the preclinical phase as of August 2, 2022. Due to the rising requirement for effective logistics and supply chain management, which comprises temperature control management and cold chain management, clinical trials are increasingly outsourced.
Market Growth Factors
A growing number of clinical trials registered.
In recent years, the number of registered clinical trials has expanded dramatically. As of January 22, 2023, around 4,39,527 reported clinical studies were reported. Recent years have seen an increase in the complexity of clinical trials, which remain indispensable for the R&D of novel medications and technologies. The pharmaceutical industry spends the highest proportion of its income on research and development compared to other sectors.
According to data, the number of registered and active clinical trial cases has steadily increased over the past decade. This has increased outsourcing-related tasks, such as material supply, blinding, delivery, and packaging. Consequently, these factors drive the expansion of the Clinical Trial Supply & Logistics Market.
New market's introduction
Regarding trial expenses and patient pools, North America and Europe, the traditional centers of clinical trials, are confronting difficulties. This has increased the incidence of uncommon diseases, and their clinical trials are being relocated to poorer countries. Moreover, technology and data play a leading role in clinical trial decision-making.
Catalent, one of the top competitors in this market, invested USD 9 million in a new clinical supply center in San Diego to provide comprehensive clinical supply services for early-phase clinical studies. In India, Biocair teamed with Linehaul Express to expand its presence in new markets. Marken (a UPS subsidiary) acquired PCX International in Japan to strengthen its presence in the local market.
Market Restraining Factor
Expensive clinical trials
The high expense of clinical trials is a significant barrier to expanding the market globally. The escalating cost of clinical trials is an essential cause for concern. The increasing requirement to collect more clinical data is a factor that contributes to the rising expenses of clinical studies. The researchers overseeing a clinical study must consider trial design, site selection, protocol design, and trial execution when preparing the trial.
The National Health Service (NHS) does not fund clinical trial research in the United Kingdom. Drug firms, charitable organizations, government-funded bodies like the Medical Research Council (MRC) and the National Institute of Health Research (NIHR), and occasionally foreign organizations provide funding. All of these factors restrain the expansion of the Clinical Trial Supply & Logistics Market over the forecast period.
Scope of the Study
Market Segments Covered in the Report:
By End-user
- Pharmaceuticals
- Biologicals
- Medical Device
By Therapeutic Area
- Cardiovascular Diseases
- Respiratory Diseases
- CNS & Mental Disorders
- Oncology
- Others
By Phase
- Phase III
- Phase II
- Phase I
- Phase IV
By Service
- Logistics & Distribution
- Comparator Sourcing
- Storage & Retention
- Packaging, Labeling, & Blinding
- Manufacturing
- Others
By Geography
North America
- US
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 293 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $3286.8 Million |
| Forecasted Market Value (USD) by 2028 | $5480.5 Million |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/td13o4
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