29 October 2020
Visiongain has published a new report on Clinical Trial Supplies Market Report : Forecasts by Products & Services (Manufacturing, Packaging, Logistics, Distribution and Storage), Phases (l, ll, lll, lV), Drug Type (Small Molecule, Biologics), Therapeutic Areas (Oncology, Blood Disorders. PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Depending on the products and service, the market is bifurcated into Manufacturing, Packaging, Logistics, Distribution, and Storage. The logistic service sector is expected to be on top on the market due to the globalisation of clinical trials and increase in number of clinical trials including temperature sensitive products. And the comparator sourcing service segment is expected to grow at the highest CAGR during the forecast period.
North America is the largest regional market for clinical trial supplies, and this trend is anticipated to continue during the forecast period of 2020 to 2025. The presence of well-established CROs (Contract research organization) and the high and growing investments in R&D by pharmaceutical and biopharmaceutical companies are the major factors responsible for the large share of North America in the global clinical trial supplies market. Conversely, owing to the existence of a larger patient population and less-strict patient staffing regulations, the Asia Pacific market is expected to grow at the highest CAGR during the analysis period.
COVID-19 Impact on Clinical trial supplies Market
By the impact of COVID19 the clinical trial supply industry have a challenge to keep their trials in continuation. It is very important to distribute drug product among different regions and receive biological trials and transfer those samples to central labs, because of this pandemic the market is moving again in decentralised model of conducting clinical trials for result in high recovery rate of covid19 patients. Due to restriction on logistic industry it is very important to understand to manage clinical trials.
Clinical phase insights- phase 1 is expected to grow faster due to increase in number of outsourced phase 1 trials. Outsourcing is increasing because of lesser population sample and higher capital investment.
End use insights- biologics is expected to grow faster based on end use while pharmaceutical is expected to grow faster in forecast period.
Opportunity 1- due to the presence of well-established CROs and growing investment in R&D by pharmaceutical and biopharmaceutical companies the demand in clinical trials is increased.
Opportunity 2- due to COVID19 pandemic the pharma companies is outsourcing the trails for better medicine and in search for launching the vaccines.
- CROs are witnessing strong growth in the global clinical trial material and supplies market
- Clinical trial materials and supplies market is becoming more and more fragmented and expected to experience huge changes in terms of competition
- Recent partnership acquisition and expansion have taken place in the global clinical trial market and supplies market.
- Major players in the market include: Alamc Group (UK), Catalent, Inc. (US), PCI Services (US), Parexel International Corporation (US), Sharp Packaging Services (US), Biocair (UK), O&M Movianto (US), KLIFO A/S (Denmark), Thermo Fisher Scientific, Inc. (US), Capsugel (Switzerland), UDG Healthcare Plc. (Ireland), Bilcare Limited (India), Infosys (India), PRA Health Sciences, Inc. (US), Eurofins Scientific (Luxembourg), Marken (US), Seveillar Clinical Trial Supplies Pvt. Ltd. (India), and N-SIDE (Belgium).
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