Clinical Trial Supplies Market is Expected to Reach $6.3 Billion | MarketsandMarkets.

Chicago, Dec. 19, 2023 (GLOBE NEWSWIRE) -- Clinical Trial Supplies market in terms of revenue was estimated to be worth $3.9 Billion in 2023 and is poised to reach $6.3 billion by 2028, growing at a CAGR of 9.9% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The increased investment by pharmaceutical and biotechnology companies to develop innovative therapies and drugs to address these health challenges, due to which the demand for clinical trials to test the safety and efficacy of these treatments has surged. These factors are anticipated to boost the need for clinical trial supplies, including investigational drugs, medical devices, and diagnostic tools subsequently driving the market growth.

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Clinical Trial Supplies Market Scope:

Report Coverage	Details
Market Revenue in 2023	$3.9 Billion
Estimated Value by 2028	$6.3 Billion
Growth Rate	Poised to grow at a CAGR of 9.9%
Market Size Available for	2021-2028
Forecast Period	2023-2028
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Service, By Phase, By Type, By Therapeutic Area, By End User
Geographies Covered	North America, Europe, Asia Pacific, Latin America, Middle East and the Africa.
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunity	Growth opportunities in emerging markets
Key Market Driver	Increasing the number of registered clinical trials

Based on Service, the global clinical trial supplies market is segmented into manufacturing; packaging, labeling, and blinding; comparator sourcing, logistics & distribution, storage & retention, and other services. The logistics & distribution segment accounted for the largest share of the market in 2022. The logistics and distribution segment held dominant share owing to the rise in demand for logistics services by major end users due to increased investment in clinical trials.

Based on the Phase, the clinical trial supplies market is segmented into Phase I, Phase II, Phase III, Phase IV, and BA/BE studies. In 2022, the Phase II segment accounted for the largest share of the clinical trial supplies market. Increased number of products under clinical trial phase II is uplifting the segmental growth. For instance, according to WHO, more than 55,000 clinical trials were registered in 2022, around 6,350 studies were under clinical trial phase II.

Based on type, the clinical trial supplies market is divided into small-molecule drugs, biologic drugs,  and medical devices. The small molecule drug segment accounted for the largest share of the market in 2022. Rising prevalence of various disease conditions is increasing investment research & development of small molecules for treatment. This will further increase number clinical trials and uplift demand for supplies in the market.

Based on therapeutic area, the clinical trial supplies market is segmented into oncology, infectious diseases, neurology, metabolic disorders, immunology, cardiology, genetic diseases, and other therapeutic areas. In 2022, the oncology segment accounted for the larger share of the market. The higher share of this segment can be attributed to the rising prevalence of cancer and increasing number of the clinical trials for oncology.

Based on end users, the global clinical trial supplies market is segmented into pharmaceutical & biotechnology companies, contract research organizations (CROs), and medical device companies. In 2022, the pharmaceutical and biotechnology companies segment accounted for the largest share of the market. The key factor of driving the growth of the human clinical trial supplies segment can be attributed to the increasing the fund for R&D by pharmaceutical and biotechnology companies.

Based on the region, the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. In 2022, North America accounted for the largest share of the clinical trial supplies market, Europe is the second largest region in 2022. The growth factors can be attributed to the increasing of R&D expenditure by pharmaceutical & biopharmaceutical companies and presence of well-established CROs in the region. The Asia Pacific market is expected to register the highest CAGR of 10.5% during the forecast period. In 2022, the growth of the market is driven by the presence of number of emerging players in the region and increased investment in clinical trials by major pharmaceutical companies in Asia Pacific countries.

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Clinical Trial Supplies market major players covered in the report, such as:

• Thermo Fisher Scientific (US)
• Marken (US)
• Catalent, Inc. (US)
• Eurofins Scientific (France)
• and PRA Health Sciences (US)
• Parexel International (MA) Corporation (US)
• Biocair (UK)
• AlmacGroup (UK)
• Piramal Pharma Solutions (India)
• Sharp Services LLC (US)
• PCI Pharma Services (US)
• Nuvisan (Germany)
• Lonza Group (Switzerland)
• OCT Group LLC (US)
• Corex Logistic Limited (Ireland)
• Acnos Pharma GMBH (Germany)
• Clinical Service International (UK)
• Klifo (Denmark)
• Clinigen Limited (UK)
• Ancillare LP (US)
• N-Side (Europe)
• ADAllen Pharma (UK)
• Durbin (UK)
• Recipharm AB (Sweden)
• IPS Pharma (UK)
• and Among Others

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This report categorizes the clinical trial supplies market into the following segments and subsegments:

By Service

• Logistics & Distribution
• Storage & Retention
• Packaging, Labelling & Blinding
• Manufacturing
• Comparator Sourcing
• Other Services (Solutions and Ancillary supplies)

By Phase

• Phase I
• Phase II
• Phase III
• Phase IV
• BA/BE Studies

By Type

• Small-Molecules
• Biologic Drugs
• Medical Devices

By Therapeutic Area

• Oncology
• Infectious Diseases
• Neurology
• Metabolic Disorders
• Immunology
• Cardiology
• Genetic Diseases
• Other Therapeutic Areas (respiratory diseases, dermatological conditions, rare diseases, ENT diseases, and nephrology)

By End User

• Pharmaceutical and Biotechnology Companies
• Contract Research Organisations (CRO's)
• Medical Device Companies

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Switzerland
  • Netherlands
  • Rest of Europe (ROE)
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Singapore
  • Rest of Asia Pacific
• Latin America
  • Mexico
  • Brazil
  • RoLATAM
• Middle East
• Africa

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Clinical Trial Supplies Industry Recent Developments:

• In July 2023, Thermo Fisher Scientific Inc. (US) has entered into collaboration with the national minority quality forum (NMQF), an independent non-profit dedicated to research and education. This collaboration facilitated through NMQF’s Alliance for Representative Clinical Trials (ARC), aims to improve the inclusion of historically underserved patient groups in clinical research.
• In April 2023, Almac Group (UK), has introduced the IXRS®3 Partnership Network, designed to expedite the creation and deployment of advanced eClinical solutions for biopharmaceutical sponsors.
• In March 2023, Icon Plc (Ireland) has entered into a strategic partnership with LEO Pharma (Denmark), and This collaboration aims to enhance LEO Pharma's clinical trial operations, focusing on patient-centricity and cost-efficiency. The goal is to strengthen LEO Pharma's
• In August 2022, Marken (US) has acquired Bomi Group to support the growth in healthcare logistics by expanding the company’s international presence and increasing cold chain capabilities in major European and Latin American markets.

Key Market Stakeholders:

• Pharmaceutical and biopharmaceutical companies
• Companies Developing Medical Devices
• Manufacturers of clinical trial supplies
• Contract manufacturing organizations (CMOs)
• Life science research institutes
• Venture Capitalists
• Research and consulting firms

Report Objectives:

• To define, describe, and forecast the clinical trial supplies market by service, type, phase, therapeutic area, end user and region
• To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
• To analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall clinical trial supplies market
• To analyze the opportunities for stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of the market segments with respect to five regions: North America, Europe, the Asia Pacific (APAC), Latin America (LATAM), Middle East and the Africa
• To profile the key players and analyze their market shares and core competencies2
• To track and analyze competitive developments, such as product launches, acquisitions partnerships, agreements, collaborations, and expansions
• To benchmark players within the market using the proprietary “Company Evaluation Matrix” framework, which analyzes market players on various parameters within the broad categories of business and product excellence strategy

Related Reports:

Clinical Trial Imaging Market

Clinical Decision Support Systems Market

Contract Research Organization (CRO) Services Market

eClinical Solutions Market

Clinical Trial Management System Market

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