Pharma Clinical Trial Supply And Logistics Market Will Reach $19.5bn In 2020, According To New Visiongain Analysis
11 September 2018
A new report by visiongain forecasts that the overall pharma clinical trial supply and logistics market will achieve revenues of $19.5 billion in 2020. Increased outsourcing of pharmaceutical clinical trial supply and logistics tasks will drive growth in that market during the period 2016 to 2026. That revenue prediction and others appear in Clinical Trial Supply and Logistics Market for Pharma 2016-2026: Analysis of Manufacturing, Packaging, Cold Chain and Supply Chain Management.
Visiongain published that updated study in March 2016. That company is a business information publisher and consultancy in London, UK. Its purpose is to help organisations understand commercial prospects of industries and markets in healthcare and other fields.
In 2015 the worldwide clinical trial supply and logistics market generated $14bn. Over the past 10 years, demands from increasingly complex and expensive clinical trials led drug developers to seek external service providers to source and manage trial materials and deliver them to investigators’ sites. Visiongain’s new study analyses those companies, showing forecasts, discussions and interviews.
Clinical trial manufacturing forms the largest submarket in clinical trial supply and logistics by revenue, accounting for almost two thirds of outsourcing revenue in 2015. Visiongain predicts that segment will expand its revenues at a CAGR of 6.8% between 2015 and 2020. Clinical trial manufacturing includes active pharmaceutical ingredient (API) sourcing, finished dosage manufacturing, primary and secondary packaging, comparator sourcing and placebo manufacturing. Increased outsourcing of clinical trial supply and logistics tasks will drive sales growth in that market from 2016 to 2026.
The clinical trial supply chain management submarket will grow the fastest from 2016 to 2026, however, the new study predicts. That segment will be driven by full-service outsourcing to contract research organisations (CROs) and third party logistics providers. Drug development will also benefit from new planning and forecasting tools. And demand for clinical-stage cold chain logistics – especially for biological drugs – will rise from 2016 to 2026.
In 2015 developed countries for pharmaceutical development provided 70% of overall world market revenues, visiongain estimates. Clinical trial supply and logistics submarkets in emerging countries will grow faster from 2016, driven by further off-shoring and globalisation of clinical trials by multinational pharmaceutical companies. For example, visiongain’s study predicts that between 2015 and 2026 the Chinese clinical trial supply and logistics submarket will expand its revenues at a CAGR of 10.4%. In developed and developing national markets there exist many opportunities for service providers to expand their businesses, responding to demands of pharma R&D.
Shruti Tayal, a pharmaceutical industry analyst in visiongain, said: “Supply chain planning, forecasting and inventory management tools will show the greatest growth and demand in the clinical trial supply and logistics market. Better packaging and increasing need for cold chain services will drive growth for this market. The market will face challenges outsourcing to emerging countries in terms of different regulations, which during our forecast period will keep on developing, as there is a large scope for clinical trial and logistics markets in those countries.”
Pharma R&D trends that will affect the clinical trial supply and logistics market from 2016 to 2026 include more biological and orphan drug development. Likewise demand for clinical-stage cold chain logistics will increase from 2016. Rising needs for cooled transportation and storage will increase demand for new packaging and monitoring technologies that offer lower-cost solutions. Those developments include reusable packaging and phase change materials that allow cooling for specific temperature ranges.
Large potential gains exist for companies supporting clinical trial operations. Through multilevel revenue forecasting, discussions and other data, visiongain’s report explores what that industry’s future holds. That investigation has the purpose of helping readers’ plans, decisions and presentations. It does so by predicting opportunities and sales.
That new analysis forecasts the world clinical trial supply and logistics market’s revenues to 2026. It also gives individual revenue predictions for seven submarkets to 2026 at world level:
• Manufacturing – also with forecasts for packaging and for other production
• Logistics and distribution – also with forecasts for cold chain logistics and for other services
• Supply chain management.
That study also discusses regulatory developments and demand for clinical trial supply and logistics services in leading developed and developing countries. The work analyses the US, Japan, Germany, France, the UK, Italy and Spain (EU5), China, India, Brazil and Russia (BRIC), with revenue forecasts to 2026.
The study also shows interviews with authorities in the industry – experts from Marken, Movianto and Catalent. That survey also discusses leading companies, including these organisations:
• Almac Group
• Catalent Pharma Solutions
• Parexel International
• Fisher Clinical Services.
Visiongain’s report also covers logistics providers serving that field, including FedEx, TNT Express, World Courier and DHL.
Clinical Trial Supply and Logistics Market for Pharma 2016-2026: Analysis of Manufacturing, Packaging, Cold Chain and Supply Chain Management gives independent analyses. That investigation adds to visiongain’s studies on pharmaceutical outsourcing and other healthcare industries. Together those reports analyse commercial prospects for pharmaceuticals, biotechnology, medical devices and related products and services.
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