Clinical Trial Materials and Supplies Market Worth $25.9 Billion by 2025 With CAGR of 6% According to Meticulous Research®
Meticulous Research®– leading global market research company published a research report titled “Clinical Trial Materials & 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”. According to this latest publication from Meticulous Research®, the global clinical trial materials and supplies market is expected to grow at a CAGR of 6% from 2019 to reach $25.9 billion by 2025. The growth in this market is mainly attributed to evolving treatment strategies, the advancement in clinical trial material supply chain process, rising investments and government funding, and increasing figures of patent expiration of drugs between 2015 and 2025. Moreover, high growth in developing countries is expected to propel the clinical trial materials and supplies market during the forecast period. However, the changing regulatory landscape is hindering the growth of this market to some extent.
The global clinical trial materials and supplies market study presents historical market data in terms of value (2017 and 2018), estimated current data (2019), and forecasts for 2025-by services (logistics & distribution, manufacturing & packaging, documentation, quantitative clinical development, clinical operations), clinical trial type (therapeutic & prevention and diagnostics), phase outlook (phase 1, 2,& 3), medical specialty (oncology, cardiovascular disease, CNS & mental disorder, diabetes, dermatology, respiratory diseases, blood disorder, gastrointestinal diseases, infectious disease, ophthalmology, and rare diseases), and end user (pharmaceuticals & biologics, contract research organizations, medical device companies). The study also evaluates industry competitors and analyzes the market at a regional and country level.
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Key questions answered in the report-
Which are the high growth market segments in terms of clinical trial type, phase, medical specialty, end user, and region/countries?
What was the historical market for clinical trial material and supply across the globe?
What are the market forecasts and estimates for the period of 2019-2025?
What are the major drivers, restraints, opportunities, and challenges in the global clinical trial materials and supplies market?
Who are the major players in the global clinical trial materials and supplies market?
How is the competitive landscape and who are the market leaders in the global clinical trials material and supply market?
What are the recent developments in the global clinical trial materials and supplies market?
What are the different strategies adopted by the major players in the global clinical trial materials and supplies market?
What are the geographical trends and high growth regions/ countries?
Based on services, the logistics and distribution segment accounted for 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.
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Based on clinical trial type, the therapeutic and prevention segment is estimated to account for the largest share of the overall market in 2019, mainly due to increasing prevalence of various diseases; increased concentration of biopharmaceutical companies; and rising investments for research and development by the drug manufacturers. The therapeutic and prevention market is further segmented into vaccines, drug development, therapeutic devices, biosimilars, therapeutic assays, and procedures. Vaccines segment is estimated to account for the largest share of the overall market for therapeutic and prevention segment, due to the introduction of clinical trials for the infectious diseases which contributes in the development of vaccines.
Based on the phase, the phase 3 trial segment is estimated to hold the largest share of the overall clinical trial materials and supplies market in 2019. The large share of this segment is mainly attributed to increasing complexity of the clinical supplies along with the increased number of patients in Phase 3 and the increasing number of completed phase 3 trials in various therapeutic areas. However, phase 2 trial segment is expected to witness the fastest growth during the forecast period.
Based on medical specialty, oncology segment is estimated to account for the largest share of the overall clinical trial materials and supplies market in 2019. The increasing cancer care therapies and the execution of clinical trials for the design, execution, and patient identification of these therapies drives the demand for clinical supplies to be used in cancer therapies. However, the diabetes segment is expected to grow at the fastest CAGR during the forecast period.
Based on end user, the pharmaceutical and biologics segment is estimated to account for the largest share of the overall market in 2019. This is primarily attributed to the introduction of new clinical supply chain services. Moreover, majority of the companies developing biologics are start-ups or small to mid-size enterprises. However, the relative number of clinical trials in these companies is greater compared to other end users such as CROs and medical device manufacturers, thereby demanding comparatively greater materials and supplies for clinical trials. However, the contract research organizations (CROs) segment is expected to grow at the fastest CAGR during the forecast period. The rapid growth in this segment is attributed to the increasing interest of the drug manufacturers to outsource their clinical trials to the CROs. According to the Association of Clinical Research Organization, more than 50% of the CROs perform outsourced clinical study work for the pharmaceutical industry, 27% for biotech, and the remaining for the medical device industry, foundations, and governments.
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This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and New Zealand and RoAPAC), Latin America, and Middle East & Africa. North America is estimated to command the largest share of the overall clinical trial materials and supplies market in 2019, followed by Europe and Asia Pacific. Factors such as increasing new registrations of clinical trials, rising investments from CROs, and increased complexity of material supply operations in the clinical trials are driving the growth of the clinical trial materials and supplies market in the North American region. However, Asia Pacific region is expected to grow at the fastest CAGR during the forecast period.Geographical Review::
The leading players operating in the global clinical trial materials and supplies market are Thermo-Fisher Scientific Inc. (U.S.), Capsugel Inc. (U.S.), Eurofins Scientific Inc. (Luxembourg), Intertek Group Plc (U.K.), Catalent Inc.(U.S.), Bilcare Inc. (U.S.), Avomeen Analytical Services Inc. (U.S.), Recipharma A.B. (Sweden), Biocair International Ltd. (U.K.), Mayne Pharma Group Ltd. (Australia), and Almac Group Ltd. (U.K.), among others.
Get key industry insights spread across 244 pages with 211 market data tables & 47 figures & charts from the market research report: https://www.meticulousresearch.com/download-sample-report/cp_id=5072
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