Clinical Trial Supplies Market
Number of pages: 100 | Report Format: PDF | Published date: June 30, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 2.04 billion |
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Revenue Forecast in 2031 |
US$ 3.57 billion |
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CAGR |
6.4% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Phase, Products/Services, Therapeutics Area, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global clinical trial supplies market was valued at US$ 2.04 billion in 2022 and is expected to register a revenue CAGR of 6.4% to reach US$ 3.57 billion by 2031.
Clinical Trial Supplies Market Fundamentals
Clinical trial supplies are the tools and components required to perform clinical trials. The pharmaceuticals being examined, and the materials utilized for distribution's packaging and labeling are all included in this. To ensure that the study is carried out effectively and securely, clinical trial supplies are a crucial step in the drug development process.
Specialized businesses with the knowledge and resources required to manage intricate procedures frequently handle the supply for clinical trials. These businesses offer services, including medicine packaging and labeling, delivery, and storage in close collaboration with pharmaceutical and biotech firms. The process through which clinical trial materials are produced, distributed, and delivered is also referred to as the clinical trial supply chain. This covers every step, from acquiring the medications' primary ingredients through their delivery to the clinical trial location.
Clinical Trial Supplies Market Dynamics
Some of the major factors influencing the market growth include rising R&D spending by pharmaceutical and biopharmaceutical firms, an increase in the number of clinical studies that have been registered, and an increase in the decentralization of clinical trials. Over the past 20 years, the market for R&D investment and the release of new medications have grown. For instance, according to a study in the Congressional Budget Office 2021, the pharmaceutical sector spent 83 billion dollars on research and development in 2019, ten times more than it did in the 1980s. Additionally, between 2010 and 2020, the number of new pharmaceuticals approved rose by up to 60%, reaching a high of 50 innovative drugs approved by the Food and Drug Administration (FDA) in 2021.
The rise in registered clinical studies directly impacted the market for clinical trial supplies. For instance, according to the information posted on the clinicaltrials.gov website, in June 2022, 419,487 clinical trial studies were recorded worldwide, compared to 2,119 clinical trials registered in 2000. The market for clinical trial supplies is being driven by the growth in R&D spending, which has accelerated the development of innovative drugs and increased the number of clinical studies.
Clinical studies using biologics and temperature-sensitive medications have increased significantly. According to the WHO, 35.0% of late-phase pharmaceutical medications are biologics, and 38.0% of pharmaceutical pharmaceuticals are temperature-sensitive. This number is anticipated to rise as biologics become more popular due to their reduced risk of side effects compared to conventional methods of storing temperature-sensitive medications. As a result, the demand for cold chain facilities is anticipated to expand as the number of biologics in clinical trials rises. Eight of the top 10 biopharmaceutical products will require cold chain facilities by 2022. The increased demand for biosimilars in both developed and developing economies is anticipated to increase the supply of cold chain products, which will support the expansion of the clinical trial supplies market throughout the forecast period.
The clinical Trial Supplies Market Ecosystem
The global clinical trial supplies market is analyzed from the following perspectives by phase, products/services, therapeutics area, end user, and region.
Clinical Trial Supplies Market by Phase
Based on the phase, the global clinical trial supplies market is segmented into Phase I, II, III, and others.
Phase III clinical trial supplies held the largest market share of 50.1% in 2022. Clinical studies in phase III are more involved than those in earlier phases. The intricacy connected with this phase is the highest despite the relatively modest number of medications. Due to the sample size and research design, which is needed for sophisticated dosing at an optimal level, this phase has the greatest failure rate. Most failures are caused by non-compliance with safety and effectiveness criteria; the cost is human and financial. A situation like this might increase demand for effective supply chains and logistics, which is anticipated to favor market growth.
Clinical Trial Supplies Market by Products /Services
Based on the products/services, the global clinical trial supplies market is segmented into manufacturing, storage & distribution, and supply chain management.
Supply chain management accounted for 42.3% of the market in 2022, capturing the largest portion. Most of the world's areas fit this description, but not the United States, where manufacturing is also anticipated to expand profitably. The epidemic caused a significant disruption in the country's supply system, which affected the lives of its residents. This helped the United States grow increasingly independent, eventually concentrating on manufacturing and services. The medication development, logistics, and distribution procedures are all part of the product/service segment for the clinical trial supply sector.
Clinical Trial Supplies Market by Therapeutics Area
The global clinical trial supplies market is segmented into oncology, CNS, cardiovascular, infectious disease, metabolic disorders, and others based on the therapeutics area.
The oncology segment held the greatest market share of 35.2% in 2022 due to the enormous number of cancer medications in the R&D pipeline. The need for cold chain distribution is anticipated to increase since most cancer medications need to be distributed in a temperature-sensitive manner. Cancer and its symptoms will be identified, managed, and treated in oncology clinical trials. Primary and secondary packing is clinical trial supplies in cancer. Patient compliance improvement is the main goal of packaging. Vials must be packaged to prevent leaks and aerosolization of gases.
Clinical Trial Supplies Market by End User
Based on the end users, the global clinical trial supplies market is segmented into pharmaceuticals, biologics, and medical devices.
The biologics segment is likely to dominate the market during the forecast period. Due to growing research initiatives like the creation of biosimilar products and nanoparticle-based drug delivery systems in genetics and biotechnology, biologics and biosimilars—produced from living cells through extremely complex manufacturing processes—are expected to experience steady growth. In recent years, the most cutting-edge medications for treating conditions like Crohn's disease, rheumatoid arthritis, and other autoimmune illnesses have been biologics, including hormones, blood products, vaccines, genes, insulin, and monoclonal antibody (mAb) products. Over the predicted period, biologics have grown significantly due to their more widespread use.
The market for biologics is driven by the fast rise in cancer diagnoses and the growing research into their application as cancer treatments. Cancer incidence is anticipated to rise by about 50%, from 1,534,500 in 2015 to 2,286,300 in 2050, according to released figures from the Centers for Disease Control and Prevention. Since biological treatments use the body's immune system and healing capabilities to combat cancer or repair healthy tissue after treatment, they are increasingly preferred over conventional cancer treatment techniques.
Clinical Trial Supplies Market by Region
Based on region, the global clinical trial supplies market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
In 2022, North America held the largest market share, with 52.2%. The country conducts the most clinical trials of any country globally, which is a key factor in expanding the clinical trial supplies market in this area. One of the reasons for this region's supremacy is the rise in clinical trials and players in the clinical trial supplies market, as well as the accessibility of cutting-edge technologies. Most clinical trials are carried out in nations in the area like the United States and Canada. For instance, the WHO International Clinical Trials Registry Platform (ICTRP) estimates that 11,935 clinical trials will be conducted in the United States in 2022.
The largest region represented by projects in the Phase 2 trial in 2020 in North America is outsourced, and this pattern resulted in significant R&D expenditures from industry and various non-industry sponsors. For instance, according to a clinical trials logistic study conducted in 2021, roughly 60% of phase 2 clinical trials are outsourced. The number of phase 2 trial studies has increased due to creative combinations of authorized and new medicines due to the high concentration of pharmaceutical leaders. Another factor propelling the clinical trial supplies market in North America is the increased expenditure on R&D due to the high cancer prevalence in the country. For instance, according to Cancer.Org Cancer Facts and Figure 609,360 new instances of cancer were recorded in 2022, which is 0.12% more than in 2021. As a result, the market for clinical trial supplies in North America is driven by an increase in the number of cancer cases reported each year.
During the projection period, Asia Pacific is expected to develop at the fastest CAGR of 6.3%. The region's market for clinical trial supplies is anticipated to increase significantly due to the rapid expansion of clinical research. The low per-patient cost in Asia Pacific nations and the availability of a diversified patient population that is simple to recruit are the main reasons for expanding clinical research in the region.
Clinical Trial Supplies Market Competitive Landscape
Some of the prominent market players in the global clinical trial supplies market include,
Clinical Trial Supplies Market Strategic Development
Clinical trial supplies include the tools and products required to carry out a clinical experiment. The pharmaceuticals being examined and the materials utilized for distribution's packaging and labeling are all included.
The estimated market size of the clinical trial supplies market in 2031 is US$ 3.57 billion.
The revenue CAGR of the clinical trial supplies market during the forecast period is 6.4%.
The prominent market players in the global clinical trial supplies market include Almac Group, Sharp Services, LLC, and Thermo Fischer Scientific Inc.
The overall share of the North America clinical trial supplies market is 52.2%.
*Insights on financial performance are subject to the availability of information in the public domain