Visiongain has published a new report entitled Clinical Trial Supply and Logistics Market for Pharma 2024-2034: Forecasts by Type (CTS Manufacturing, CTS Logistics & Distribution, CT Supply Chain, Management, CTS Packaging & Storage), by Phase (Preclinical, Phase I, Phase II, Phase III, Phase IV, Post Launch) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The clinical trial supply and logistics for pharma market is estimated at US$14.88 billion in 2024 and is projected to grow at a CAGR of 9.3% during the forecast period 2024-2034.
Clinical trial supply and logistics are essential moving parts in the clinical development process as sponsors conduct more sophisticated trials while aiming for quicker decisions on their medications. Sponsors must have the appropriate personnel, procedures, infrastructure, and technology in place in order to determine the best strategy to guarantee that the proper research drug is accessible on time. In order to evaluate data as fast as possible while preserving the greatest levels of patient safety, will mean that the success of clinical trial supply chain is functional, efficient, and consistent with the appropriate requirements.
In the ever-changing landscape of supply chain evolution, technology is the main force behind change in the pharmaceutical and healthcare industries. The secure and unchangeable ledger that is the hallmark of blockchain technology is used to meticulously record every step of the supply chain process, ensuring increased transparency and traceability from production to distribution. Temperature-sensitive drugs are monitored in real time by the Internet of Things (IoT), which makes sure the drugs' integrity is maintained during transportation. The fields of artificial intelligence (AI) and machine learning (ML) become indispensable tools for improving the precision of planning and forecasting. At the same time, automation and robotics streamline processes, and data analytics provide priceless information for anticipatory decision-making, all of which add to the overall effectiveness of the supply chain.
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How has COVID-19 had a Significant Impact on the Clinical Trial Supply and Logistics for Pharma Market?
The COVID-19 pandemic has significantly impacted the pharmaceutical supply chain, highlighting the importance of cost reduction and productivity enhancement. The industry faces challenges in meeting customer demands and maintaining competitiveness due to the volatility caused by the pandemic. Manufacturers have been exposed to vulnerabilities due to limited access to information about their supplier networks beyond Tier 1 suppliers. Supply disruptions can lead to reduced returns on investment, reduced productivity, market share, and goodwill, impacting overall profitability.
Local logistical expertise and sourcing strategies are critical components of pharmaceutical supply chains. However, there is a lack of research on this correlation, particularly in developing countries like Jordan. Supplier failures in production management result in significant setbacks and delays for organizations, while policy decisions such as office hours reduction and safety regulations have led to labour shortages and depreciation of capital assets and equipment.
The COVID-19 pandemic presents an opportunity for clinical trials supply and logistics market participants to expand their role in patient care. The increasing integration of technology with healthcare and the global spread of coronavirus cases will create new revenue streams for market participants. Pandemics are expected to become more probable due to globalization and population migration, which affect communities' way of life and socioeconomic standing. The pharmaceutical industry plays a crucial role in providing high-quality healthcare services, especially during times of pandemics when the supply chain may encounter disruptions or become overburdened.
How will this Report Benefit you?
Visiongain’s 275-page report provides 115 tables and 128 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the clinical trial supply and logistics for pharma market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Clinical Trial Supply and Logistics for Pharma. Get financial analysis of the overall market and different segments including type, phase and capture higher market share. We believe that there are strong opportunities in this fast-growing clinical trial supply and logistics for pharma market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Move Towards Decentralized/Virtual Trials
Decentralization is a significant aspect of modernizing clinical trials, but its definition remains challenging due to the various methodologies and components used. Decentralised clinical trials (DCT) involve studies conducted through telemedicine and mobile/local healthcare practitioners using processes and technologies different from traditional clinical trial models. Almost 24% of clinical trials have incorporated DTP (direct to patient) services, despite limitations such as international requirements or nurse help needs. The FDA has released a guideline for electronic media for informed consent for clinical trials, supporting DTP services and virtual clinical trials.
Technological developments in fields like edge computing, telehealth, data science, and the Internet of Things have enabled businesses to conduct DCT. Mobile, home healthcare, and alternative care locations allow for more procedures or trial operations to take place away from research sites. Tools like eConsent, telehealth, electronic patient-reported outcomes (ePRO), remote patient monitoring (RPM), and electronic clinical-outcome assessments (eCOAs) enable participants to stay in touch with them remotely.
DCT offers sponsors control, flexibility, easy patient access, increased diversity, lower administrative costs, increased efficiency, and faster innovation to market by enabling sponsors to adjust to trial results. Sponsors and investigators can view patient data in real time, monitor adherence, analyze results, and make necessary adjustments. The uptake of DCT has been increasing annually due to its advantages, including the Covid pandemic, drug price reforms, and declining return on investment in R&D. Complex trials that require imaging through bulky diagnostic equipment or tasks requiring lab support may function in a hybrid mode, with the exception of manual touchpoints.
Growing Clinical Trials Volume
The increasing volume, shorter turnaround times, and complexity of clinical trials have made clinical drug supply crucial for their success. To mitigate the risk of therapeutic drug supply becoming a limiting factor in drug delivery, it can be elevated to achieve the highest possible standards. Nevertheless, it can also yield substantial benefits, including enhanced investigator and patient experiences, expedited medication launches by one to two years, and cost reductions of 15% to 20% in clinical drug supply.
In 2023, more than 22,000 clinical trials were initiated. Oncology was the primary focus of trials initiated in 2023, followed by the central nervous system. Out of the trials that began in 2023, the largest proportion (36%) were classified as Phase II trials. In 2023, a total of 7,183 clinical trials concluded, with 6,234 successfully completing and 777 being terminated. The termination-to-completion ratio has risen by 2.7% from 2022 to 2023 due to insufficient funding caused by increasing inflation and geopolitical factors, which have had a significant impact on the industry. Although there has been a decrease in the number of trial initiations, a few groundbreaking drugs have successfully been introduced to the market.
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Where are the Market Opportunities?
AI and Machine Learning are Evolving with More Data
The pharmaceutical industry relies heavily on traditional linear and sequential clinical trial approaches to assess the effectiveness and safety of new medications. However, these methods often face challenges such as administration issues, recruitment difficulties, and insufficient patient selection, leading to prolonged study durations and high failure rates. Artificial intelligence (AI) can help address these issues by automating repetitive tasks, freeing up human resources to focus on specialized tasks, and analysing historical and current trial data to guide future research. AI plays a crucial role in the entire clinical research process, from pre-clinical research to design, recruitment, and analysis. It simplifies candidate selection, accelerates chemical compound analysis, and predicts toxicity during the pre-clinical phase. AI-powered insights into participant behaviour improve trial design efficiency, and predictive models provide real-world data for disease comprehension and site selection. AI also automates data collection and patient recruitment, leading to superior design and enhanced patient interactions.
AI integration in clinical trials offers numerous benefits, including cost reduction, improved accuracy in data analysis, personalized medicine support, enhanced trial knowledge, real-time access to specialized knowledge, and improved patient outcomes. However, challenges such as data privacy, regulatory compliance, and data quality and accuracy remain. The integration of digital technologies with AI in clinical trials is expected to revolutionize the field, with initiatives like eConsent, mobile applications for patient-reported endpoints, and risk-based site monitoring.
Optimising Clinical Trial Supply and Logistics: Pharma Market Strategy
The pharmaceutical industry faces numerous challenges in managing clinical trial supply and logistics, which involves the complete management of materials from manufacturing to final use. The complexity of clinical trials has increased due to factors such as personalised medicine, biologics, and globalisation of clinical research. Compliance with regulatory requirements is a major challenge, and pharmaceutical companies must establish strong systems to ensure their supply chains meet all requirements.
Technological advancements hold transformative potential for clinical trial supply and logistics, such as blockchain, IoT, and AI. Blockchain technology can generate an immutable ledger that tracks the movement of clinical trial supplies, ensuring data integrity and traceability. IoT devices can monitor environmental conditions in real time, ensuring temperature-sensitive materials stay within acceptable limits during transit. AI can improve logistics planning by anticipating potential disruptions and recommending alternate routes or strategies.
A critical strategic decision in clinical trial logistics is deciding between centralized and decentralised supply chain models. A centralized model combines supply chain operations into a single location, simplifying management and potentially lowering costs. However, it may be less responsive to local needs and may face difficulties due to cross-border regulations and logistics. A decentralised model, including multiple regional hubs, can be more adaptable to local conditions and regulations but may result in higher overall costs and coordination complexity.
Risk management is critical in clinical trial logistics, as potential risks include supply chain disruptions, environmental deviations, regulatory changes, and geopolitical instability. Effective risk management entails identifying potential risks, assessing their impact, and devising backup plans. Adopting a patient-centric approach to clinical trial logistics aims to reduce the burden on participants while maintaining trial integrity.
Sustainability is becoming a more important factor in clinical trial logistics, as pharmaceutical companies are under increasing pressure to reduce their environmental impact. Strategies for improving sustainability include optimizing transportation routes, using environmentally friendly packaging materials, and implementing reverse logistics. Vendor management is essential, and case studies of successful implementation provide valuable insights into best practices and potential pitfalls.
Competitive Landscape
The major players operating in the clinical trial supply and logistics for pharma market are Catalent, Inc., Thermo Fisher Scientific Inc., ICON plc, Eurofins Scientific, FedEx, United Parcel Service, Inc., Kerry Logistics Network Limited, Kuehne+Nagel, Bilcare Limited, Mayne Pharma Group Limited, Intertek Group plc, Almac Group, Parexel International Corporation, Biocair, Marken (A UPS Company), PCI Pharma Services (PCI), Movianto, Yourway, COREX Logistics, and Oximio, Royal Cargo, and NAF Pharma. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
- On 25th April 2024, Parexel and Palantir Technologies Inc. announced a multi-year strategic partnership to leverage AI to help enhance and accelerate the delivery of safe and effective clinical trials for the world’s biopharmaceutical customers.
- On 25th May 2023, Catalent expanded the services and capabilities at its facility in Shiga, Japan, to include the storage, kitting, and distribution of advanced therapies at ultra-low temperatures for clinical trials.
- On 10th March 2023, LEO Pharma and ICON plc announced a strategic partnership that will enable LEO Pharma to scale clinical trial execution that is patient-centric and cost effective, and which will support the company’s overall ambition of building one of the most effective and efficient clinical portfolio execution organisations in the industry.
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To find more Visiongain research reports on the Pharma sector, click on the following links:
- Cell & Gene Therapy Cold Chain Logistics Market Report 2023-2033
- Healthcare Cold Chain Logistics Market Report 2023-2033
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