USD 2.9 billion
Global Clinical Trial Supplies Market Size, Share, Growth Analysis, By Phase(Phase I, Phase II), By Application(Pharmaceutical and Biopharmaceutical, and Contract Research Organizations (CROs)) - Industry Forecast 2024-2031
Report ID:
SQMIG35D2077 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
63 |
Figures:
75
Global Clinical Trial Supplies Market Insights
Global Clinical Trial Supplies Market size was valued at USD 2.9 billion in 2022 and is poised to grow from USD 3.09 billion in 2023 to USD 5.11 billion by 2031, growing at a CAGR of 6.5% in the forecast period (2024-2031).
The global clinical trial supplies market has witnessed significant growth due to the increasing trend of globalization, a surge in clinical trials, and a rise in the number of biologics and biosimilar drugs being tested. Biopharmaceutical companies have adopted supply chain management systems to reduce high R&D expenditure and improve operational efficiency. Clinical trial supplies account for a significant portion of total R&D expenditure. Moreover, an increase in the number of biologics and temperature-sensitive drugs being tested has resulted in a rise in demand for clinical trial facilities. Currently, 38% of pharmaceutical drugs are temperature-sensitive, and 35% of late-phase pharmaceutical drugs are biologics. The demand for biologics is growing due to lesser adverse effects compared to traditional drugs. The market growth is also driven by the high demand for biosimilars in both developed and developing economies. Clinical trials are mainly conducted in developing economies due to lower costs and complications in patient recruitment. Regions such as Asia Pacific, Latin America, Central & Eastern Europe, and the Middle East provide greater economic benefits to biopharmaceutical companies. Governments in Singapore and China allocate funds to promote biomedical research, while in Latin America, patient recruitment is easy due to reduced language barriers. The variation of diseases in developing economies further facilitates clinical trials on rare diseases.
US Clinical Trial Supplies Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Phase III
Fastest Growth
Phase IV
Growth Rate
6.5% CAGR
Global Clinical Trial Supplies Market ($ Bn)
Country Share for North America Region (%)
Global Clinical Trial Supplies Market By Phase ($ Bn)
Global Clinical Trial Supplies Market By Phase (%)
To get more reports on the above market click here to Buy The Report
Global Clinical Trial Supplies Market Segmental Analysis
Global Clinical Trial Supplies market is segmented by phase, application, and region. Based on phase, the market can be segmented into Phase I, Phase II, Phase III, and Phase IV. Based on application, the market is segmented into pharmaceutical and biopharmaceutical, and contract research organizations (CROs). Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Clinical Trial Supplies Market Analysis by Phase
By phase, the market can be segmented into Phase I, Phase II, Phase III, and Phase IV. Phase III trials involve a larger patient pool and provide a more accurate assessment of drug efficacy and safety, which makes them critical for regulatory approval. Therefore, the phase III segment is expected to dominate the market, owing to the increasing number of clinical trials being conducted in this phase.
The phase IV segment is expected to witness fastest growth during the forecast period. Phase IV trials, also known as post-marketing surveillance studies, are conducted after a drug has been approved by regulatory authorities to monitor its long-term safety and effectiveness. With an increasing number of drugs being approved and launched in the market, the demand for phase IV clinical trials is expected to rise, driving the growth of the market.
Clinical Trial Supplies Market Analysis by Application
By application, the market can be segmented into pharmaceutical and biopharmaceutical, and contract research organizations (CROs). Pharmaceutical and biopharmaceutical companies are the primary end-users of clinical trial supplies, as they are involved in the development of new drugs and therapies. With an increasing demand for specialized drug products, such as biologics and biosimilars, the demand for clinical trial supplies is expected to rise among pharmaceutical and biopharmaceutical companies. This segment is expected to dominate the market due to the increasing R&D expenditure by these companies and the increasing demand for specialized drug products.
Contract research organizations (CROs) are outsourcing firms that provide clinical trial services to pharmaceutical and biopharmaceutical companies. With an increasing trend of outsourcing clinical trials to reduce costs and improve efficiency, the demand for clinical trial supplies is expected to rise among CROs. This segment is expected to witness rapid growth due to the increasing trend of outsourcing clinical trials and the rising number of clinical trials conducted in developing economies.
Global Clinical Trial Supplies Market By Phase, 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Clinical Trial Supplies Market Regional Insights
North America dominated the global market due to the presence of a large number of biopharmaceutical companies and the availability of advanced clinical trial infrastructure. The United States is the largest market in North America, accounting for a significant share of the market. The country's dominance can be attributed to the increasing adoption of advanced technologies and the high R&D expenditure by biopharmaceutical companies. Additionally, favorable government initiatives and the presence of major key players in the region contribute to market growth.
The Asia-Pacific (APAC) region is the fastest-growing market, owing to the increasing trend of outsourcing clinical trials to developing economies such as India and China, due to lower costs and favorable government initiatives. Moreover, the presence of a large patient pool, especially in India, has resulted in a surge in clinical trials for rare diseases. The region is expected to witness significant growth due to the growing demand for biologics and biosimilars, increasing investment in healthcare infrastructure, and rising awareness about clinical trials.
Global Clinical Trial Supplies Market By Region, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Clinical Trial Supplies Market Dynamics
Clinical Trial Supplies Market Drivers
Increasing demand for specialized drug products
- One of the key drivers of the global clinical trial supplies market is the increasing demand for specialized drug products, such as biologics. This specialized drug require specific clinical trial supplies that ensure their safety, efficacy, and stability during clinical trials. Biologics are complex molecules that are produced by living organisms and used to treat various diseases. They require specialized clinical trial supplies such as refrigeration, specific packaging materials, and temperature monitoring systems to ensure their stability during clinical trials. The increasing demand for biologics due to their effectiveness and lesser adverse effects compared to traditional therapies is driving the demand for specialized clinical trial supplies.
Clinical Trial Supplies Market Restraints
High cost of clinical trials
- One of the major restraints of the global clinical trial supplies market is the high cost of clinical trials. The cost of clinical trials has been increasing significantly in recent years, which is limiting the growth of the market. Additionally, the complexities involved in the recruitment of patients and the need for regulatory compliance in clinical trials are also hindering the market growth. These factors are making it difficult for small and mid-sized companies to enter the market, thereby limiting the overall growth of the clinical trial supplies market.
Request Free Customization of this report to help us to meet your business objectives.
Global Clinical Trial Supplies Market Competitive Landscape
The global clinical trial supplies market is highly competitive with the presence of several established players. These companies are constantly innovating and investing in research and development to expand their product offerings and increase their market share. The market is also witnessing several partnerships, collaborations, and acquisitions among key players to strengthen their position in the market. Furthermore, companies are also focusing on improving their supply chain management systems and expanding their geographic reach to gain a competitive edge in the market.
Clinical Trial Supplies Market Top Player’s Company Profiles
- PAREXEL International Corporation (US)
- CordenPharma (Austria)
- Almac Group (UK)
- PCI Pharma Services (US)
- Eurofins Scientific (Luxembourg)
- ICON plc (Ireland)
- Biocair International Ltd (UK)
- DHL (Germany)
- Marken (US)
- Myoderm (US)
- Movianto (Belgium)
- Ancillare LP (US)
- Intertek Group plc (UK)
- KLIFO A/S (Denmark)
- N-SIDE (Belgium)
- Sharp Clinical Services (US)
- PRA Health Sciences, Inc. (US)
Clinical Trial Supplies Market Recent Developments
- In April 2024, OMG Pharma Australia (OMG) revealed a strategic collaboration with the Swiss-Dutch company dsm-firmenich, which involves supplying fast-absorption CBD for an upcoming sleep trial. This partnership aims to incorporate dsm-firmenich's GMP-certified CBD active pharmaceutical ingredient (API) into OMG's phase III clinical trial for insomnia.
- In February 2024, FedEx Express, a branch of FedEx Corp. and a major global transportation company, opened its 'FedEx Life Science Center' in Mumbai. This center is a milestone in the clinical trial supply chain, not only in India but also worldwide.
- In January 2024, NorthStar Medical Radioisotopes, LLC, known for its work in creating medical substances for cancer detection and treatment, and Curadh MTR Inc., a company focused on clinical research and advice for cancer treatment, announced a partnership. They will work together for a long time to develop and make new substances for finding and treating solid tumor cancers.
Global Clinical Trial Supplies Key Market Trends
- One key trend in the global clinical trial supplies market is the adoption of blockchain technology. Blockchain technology offers a decentralized, secure, and transparent system that can track and manage the clinical trial supply chain from the manufacturer to the patient. This technology can also improve the efficiency of clinical trials by providing real-time tracking of supplies, reducing errors and discrepancies, and enhancing data security. As a result, the adoption of blockchain technology in the clinical trial supplies market is expected to increase in the coming years.
Global Clinical Trial Supplies Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global clinical trial supplies market analysis, the market is expected to grow in the coming years, driven by factors such as the rise in clinical trials, globalization, and the increasing adoption of supply chain management systems. North America dominated the global market. The market is highly competitive, with key players such as Thermo Fisher Scientific Inc., Catalent Inc., and Almac Group. The adoption of blockchain technology is a key trend in the market, offering a secure and efficient system to track and manage the clinical trial supply chain. However, the high cost of clinical trials and the complexity of the supply chain remain significant challenges.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.9 billion |
| Market size value in 2031 | USD 5.11 billion |
| Growth Rate | 6.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Clinical Trial Supplies Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Clinical Trial Supplies Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Clinical Trial Supplies Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Clinical Trial Supplies Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Clinical Trial Supplies Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Clinical Trial Supplies Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Clinical Trial Supplies Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
