Clinical Trial Supply and Logistics Market Size, Share, Growth Report 2030

Global Clinical Trial Supply and Logistics Market: Industry Perspective

The global Clinical Trial Supply and Logistics Market accrued earnings worth approximately 3.2 (USD Billion) in 2020 and is predicted to gain revenue of about 5.5 (USD Billion) by 2028, is set to record a CAGR of nearly 7.2% over the period from 2021 to 2028. The report offers an assessment and analysis of the Clinical Trial Supply and Logistics Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).

Clinical Trial Supply and Logistics Market: Outlook

Providers of clinical trial supply and logistics services offer equipment & support for clinical trials to research organizations for yielding successful outcomes. In addition to this, the solution providers are also responsible for effectively handling trial sites and interacting with subjects on whom clinical trials are to be performed. Apart from this, the rise in incidences of diseases and the humungous necessity for developing medicines for treating patients will garner lucrative demand for clinical trial supply and logistics solutions.  The launching of new service channels for delivering proficient clinical trial supply and logistics solutions will boost market trends.

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Clinical Trial Supply and Logistics Market: Growth Drivers

The surge in research activities pertaining to drug discovery, cancer monitoring, and organ biopsy activities will embellish the expansion of the clinical trial supply and logistics industry. In addition to this, large-scale funding for drug development activities will enlarge the size of the clinical trial supply and logistics market in the years ahead. Apparently, breakthroughs in the medical sector, namely, in the testing & development of new healthcare methods will pave way for the growth of the industry in the upcoming timespan. The need for bringing improvement in quality management of clinical trial supply & logistics operations will not only enhance clinical trial supply & logistics services but will bring more contracts or business for service providers. This, in turn, will contribute notably toward the revenue of the clinical trial supply and logistics market.

Furthermore, many governments are encouraging the performing of clinical tests in an ethical way that will prove beneficial to the human race. This will amplify the scope of market growth in the ensuing years. In addition to this, technological breakthroughs in supply chain activities will not only provide impetus to the growth of clinical trial supply and logistics business but will bring a huge margin of profits for the industry in the coming years. Nevertheless, huge costs associated with the deployment of equipment for performing quality clinical trials can put brakes on the progress of the clinical trial supply and logistics market in years ahead.

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Clinical Trial Supply and Logistics Market: Regional Landscape  

North America To Sway Regional Market Growth By 2028

The expansion of the clinical trial supply and logistics market in North America over the assessment period is subject to an increase in clinical tests on individuals performed by pharma & biotech firms based in the sub-continent for introducing new drugs for treating chronic ailments. Reportedly, the U.S. carries out the largest number of clinical tests each year and thus contributes massively toward regional market share. Apparently, there is an immense presence of giant players in the region, thereby driving regional market trends.

Clinical Trial Supply and Logistics Market: Competitive Landscape

Key players holding a strong position in the market and influencing the growth of the clinical trial supply and logistics market are Thermo Fisher Scientific Corporation,  Catalent, Inc., Packaging Coordinators, Inc., Almac Group, Parexel International, Marken, Movianto Company, DHL International GmbH, Piramal Pharma Solutions, FedEx Corporation, and UDG Healthcare.

The global Clinical Trial Supply and Logistics Market is segmented as follows:

By Service

• Storage & Retention
• Logistics & Distribution

By End-User

• Pharmaceutical
• Biologics

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa