What is the global market size of the Clinical Trial Materials And Supplies Market?

Global Clinical Trial Materials and Supplies Market size was valued at USD 2.0 billion in 2021 and it is expected to reach USD 3.09 billion by 2030, at a CAGR of 6.9% over a forecast period (2023-2030).

Clinical Trial Materials And Supplies Market Size

Clinical Trial Materials And Supplies Market Insights

Global Clinical Trial Materials And Supplies Market size was valued at USD 3.5 billion in 2023 and is poised to grow from USD 3.84 billion in 2024 to USD 8.12 billion by 2032, growing at a CAGR of 9.8% during the forecast period (2025-2032).

Management of clinical trial supplies is necessary to prevent inventory expiration, excess supply, and overproduction. Clinical trial supplies are becoming more important since drug detection is becoming more expensive. An effective supply chain management of the pharmaceuticals is necessary for clinical research, taking into account the infrastructure's limitations and the regulations' tight enforcement. The main factors driving the market are the expansion of clinical trial studies and the growing complexity of conducting these trials. The term "clinical trial supplies" refers to a variety of instruments and apparatus used in clinical research, scientific inquiries, and experimentation. The most often utilised supplies for clinical trials are infusion pumps, nebulizers, and syringe needles. They are largely employed in the conduct of medical trials for the detection, prevention, and treatment of various diseases, the evaluation of the effectiveness of a particular therapeutic approach, and the diagnosis of various infections and metabolic illnesses. They also have a wide range of uses in cardiovascular, neurological, oncological, and pulmonary operations.

The market is growing at faster rate. Drug developers and manufacturers are now outsourcing their clinical trial supplies, which are then delivered to the investigator site, due to the rising complexity and expense of clinical studies. The demand for clinical trial materials and supplies has also increased as a result of factors such as technological developments in the clinical trial supply chain process, strategic growth among solution providers, and an increase in the number of patents expiring.

US Clinical Trial Materials And Supplies Market is poised to grow at a sustainable CAGR for the next forecast year.

FAQs

Global clinical trial materials and supplies market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Lonza Group ', 'Catalent, Inc. ', 'Piramal Pharma Solutions ', 'Almac Group ', 'Parexel International ', 'Eurofins Scientific ', 'Marken (A Subsidiary of UPS) ', 'Thermo Fisher Scientific, Inc. ', 'Sharp Services, LLC ', 'PCI Pharma Services ', 'Nuvisan ', 'Celerion ', 'WuXi AppTec ', 'Recipharm AB ', 'Tunnell Consulting ', 'Aesica Pharmaceuticals ', 'Boehringer Ingelheim ', 'Kendle International (Now a part of INC Research) ', 'Syneos Health ', 'Vetter Pharma '

In emerging countries like China, India, and South Korea, where the expense of participating in clinical trials is lower than in industrialised nations, the number of patients participating in clinical trials has increased dramatically. According to Austrade, the price of early phase clinical trials is 28% less expensive in developing nations before tax incentives and 60% less expensive aftertax incentives than in the US. Due to this, there are now many cases of uncommon diseases, and the locations of their clinical trials have been changed to poor countries. Additionally, technology and data play a key role in clinical trial decision-making. The pharma and biotech sectors are prepared to outsource these improvements to innovate existing clinical trial processes and supply systems in these developing nations thanks to the development of new technology and the rise of online communities.

The quantity of biologics and temperature-sensitive medications in clinical trials has significantly increased. 35.0% of late-phase pharmaceutical medications are biologics, and 38.0% of pharmaceutical drugs are already temperature-sensitive. As the need for biologics grows due to their reduced side effects when compared to conventional ties for the storage of temperature-sensitive medications, this number is anticipated to rise in the future. The demand for cold chain facilities is therefore anticipated to increase as the number of biologics in clinical trials increases.

Asia Pacific is expected to expand at the fastest CAGR of 6.9% during the forecast period. The majority of clinical trials are done in North America, which also has the largest market share. This increase is attributed to a number of factors, including the expansion of healthcare businesses performing clinical trials in the region, favourable government policy, and the accessibility of reasonably priced goods. One of the markets's fastest-growing regions is predicted to be Asia Pacific. The region's market is anticipated to increase significantly as a result of the enormous growth in clinical research. The low cost per patient in Asia Pacific nations and the availability of a broad population of patients who are simple to recruit are the main factors influencing the rise of clinical research in these regions.