03-Aug-2018 | Zion Market Research
Zion Market Research has published a new report titled “Clinical Trial Supplies Market by Product/ Services (Manufacturing, Packaging and Labeling, and Storage and Distribution), by Application (Oncology, CNS, Cardiovascular, Infectious Diseases, Metabolic Disorders, and Others), by Phase (Phase I, Phase II, Phase III, & Others), and by End User (Contract Research Organizations, Pharmaceutical and Biotechnology Companies, Research Institutes, & Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024”. According to the report, global clinical trial supplies market was valued at approximately USD 1,286.2 million in 2017 and is expected to generate revenue of around USD 2,092.5 million by end of 2024, growing at a CAGR of around 7.20% between 2018 and 2024.
Owing to the increasing cost of drug discovery, the market for clinical trial supplies is gaining traction. Also due to the implementation of strict handling guidelines towards a range of biopharmaceutical products which are entering the clinical trials, the strategy of clinical trial supply needs to be frequently overhauled which creates need towards integrating a large number of third-party vendors in all stages of clinical development.
Browse the full "Clinical Trial Supplies Market by Product/ Services (Manufacturing, Packaging and Labeling, and Storage and Distribution), by Application (Oncology, CNS, Cardiovascular, Infectious Diseases, Metabolic Disorders, and Others), by Phase (Phase I, Phase II, Phase III, & Others), and by End User (Contract Research Organizations, Pharmaceutical and Biotechnology Companies, Research Institutes, & Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024" report at https://www.zionmarketresearch.com/report/clinical-trial-supplies-market
The clinical trial supplies market is segmented on the basis of product/services into manufacturing, packaging and labeling, and storage and distribution. Cold chain distribution is estimated to grow fast owing to rise in a number of temperature-sensitive drugs and biologics. The supply chain management market is also likely to lead the market due to increasing pressure to reduce R&D cost and technology advancement.
The clinical trial supplies market is segmented on the basis of application into oncology, CNS, cardiovascular diseases, infectious diseases, metabolic disorders, and others. The oncology segment is probable to witness a high growth rate and is likely to remain the most dominant segment owing to remarkable R&D pipeline of oncology drugs since the majority of these drugs require temperature sensitive distribution. For instance, according to the United Press International in the U.S. hospitals dispose of millions of cancer vials due to improper dosing. In 2016, USD 10 million was funded towards clinical supplies for cancer-based research by Intensity Therapeutics Inc.
Based on phase, the clinical trial supplies market is segmented into phase I, phase II, phase III, & others. Phase I clinical trials are likely to be the highest growing segment owing to rising number of Phase I clinical trials being outsourced. Major factors have been a high capital investment and less sample population for outsourcing the major volume of these trials. It is observed that about more than 55% of phase I clinical trials are outsourced and the number is likely to increase owing to rising globalization.
Based on the end user, the clinical trial supplies market is segmented into contract research organizations, pharmaceutical and biotechnology companies, research institutes, and others. Pharmaceutical and biotech companies contributed to a larger share of the market in 2017 and are anticipated to witness a higher growth rate during the forecast period. Pharmaceutical drugs are being substituted with biologics which have to lead to a steady decrease in the R&D pipeline and is subsequently impacting the overall segment growth rate.
Regionally, the market for clinical trial supplies is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. Europe and North America are the leading contributors of the clinical trial supplies market since the maximum share of clinical trials are conducted in these two regions and presence of a large number of leading players in clinical trial supply with their most advanced technology. Due to the high cost associated with clinical trials the market is expected to grow relatively less in other regions.
Some of the leading players in clinical trial supplies market include KLIFO A/S, Patheon, Inc., Almac Group Ltd., PAREXEL International Corporation, PCI Services, Sharp Packaging Services, Biocair, Movianto, Thermo Fisher Scientific, Inc. Catalent Pharma Solutions, Inc., and others.
This report segments the global clinical trial supplies market as follows:
Global Clinical Trial Supplies Market: Product/Services Segment Analysis
Global Clinical Trial Supplies Market: Application Segment Analysis
Global Clinical Trial Supplies Market: Phase Segment Analysis
Global Clinical Trial Supplies Market: End-User Segment Analysis
Global Clinical Trial Supplies Market: Regional Segment Analysis
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