DUBLIN–(BUSINESS WIRE)–The “Clinical Trial Materials and Supplies Market by Service (Logistics, Manufacturing), Clinical Trial Type (Therapeutic, Diagnostics), Phase (Phase 2, Phase 3), Medical Specialty (Oncology, Diabetes), and End User (Pharmaceutical, CRO)- Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The Global Clinical Trial Materials & Supplies Market is expected to reach $25.9 billion by 2025, at a CAGR of 6% during the forecast period of 2019 to 2025.
The factors such as growing advancements in clinical trial material supply chain process; emerging markets in developing regions; rising investments and government funding; and growing number of patent expiration are driving the growth of the global clinical trial materials and supplies market. However, the changing regulatory landscape is expected to hinder the growth of the global clinical trial materials and supplies market.
Based on services, the logistics and distribution segment is estimated to command the largest share of the overall clinical trial materials and supplies market in 2019. The large share of this segment is mainly attributed to the rising R&D cost, increased competition among small and mid-size manufacturers, and stringency over the prices of the medicine. Also, the increasing demand for biological and orphan drugs further promotes the growth of this segment.
Based on end user, the pharmaceutical and biologics segment is estimated to account for the largest share of the overall market in 2019. However, the contract research organizations (CROs) segment is expected to grow at the higher CAGR during the forecast period. The rapid growth of this segment is attributed to the increasing interest of the drug manufacturers to outsource their clinical trials to the CROs.
An in-depth analysis of the geographic scenario of the clinical trial materials and supplies market provides detailed qualitative and quantitative insights about the six major geographies (North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa) along with the coverage of major countries in each region.
North America commanded the largest share of the overall clinical trial materials and supplies market in 2019, followed by Europe and Asia Pacific. However, Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The rapid growth in this region is attributed to the increasing prevalence of various chronic diseases in the region, low cost of conducting a clinical trial as compared to the western region, and increasing government initiatives to conduct clinical trials. Moreover, due to the stringent regulations for importing clinical supplies, end-users are expected to strengthen their domestic presence in these countries.
Market Dynamics
Drivers
- Developing Countries with High Recruitments and the Low Cost of Clinical Trials
- Technological Advancements in Clinical Trial Supply Chain Process
- Rising Investments and Government Funding for Clinical Trials
- Strategic Developments among the Solution Providers
- Increasing Number of Patent Expiration
Restraints
- Changing Regulatory Landscape
Opportunities
- High Growth in Developing Countries
Challenges
- Clinical Trials Supply Challenge with IRT
Trends
-
Outsourcing of Clinical Trial Supplies
Scope of the Report
Market by Services
- Logistics & Distribution
- Manufacturing & Packaging
- IMPs & INDs
- Placebos
- Assays & Test kits
- Others
- Documentation
- Quantitative Clinical Development
- Clinical Operations
Market by Clinical Trial Type
- Therapeutic & Prevention
- Vaccines
- Drug Discovery & Development
- Therapeutic Devices
- Biosimilars
- Therapeutic Assays
- Therapeutic Procedures
- Diagnostics
- Diagnostic Assay
- Diagnostic Devices
Market by Phase Outlook
- Phase 3
- Phase 2
- Phase 1
Market by Medical Specialty
- Oncology
- CNS and Mental Disorders
- Diabetes
- Cardiovascular Diseases
- Dermatology
- Respiratory Diseases
- Blood Disorders
- Gastrointestinal Diseases
- Infectious Diseases
- Ophthalmology
- Rare Diseases
Market by End-user
- Pharmaceuticals & Biologics
- Contract Research Organization
- Medical Device Companies
Market by Geography
-
North America
- U.S.
- Canada
-
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
-
Asia-Pacific (APAC)
- Japan
- China
- India
- Australia & New Zealand
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Middle East and Africa
Profiles of Key Players
(Business Overview, Financial Overview, Product & Services Portfolio, Strategic Developments)
- Thermo Fisher Scientific Inc.
- Fisher Clinical Services Inc.
- Patheon
- Capsugel Inc. (Subsidiary of Lonza Group)
- Parexel International Corporation (Subsidiary of Pamplona Capital Management, LLP)
- Eurofins Scientific Inc.
- Almac Group Ltd.
- Catalent, Inc.
- Intertek Group PLC
- Mayne Pharma Group Ltd.
- Biocair International Ltd.
- Recipharm AB
- Avomeen Analytical Services Inc.
- Bilcare Inc.
For more information about this report visit https://www.researchandmarkets.com/r/b07ngc
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