Global Clinical Trial Supplies Market Top Competitors, Application
Posted by marketresearch123 on May 26th, 2021
Clinical trial supplies are defined as various tools & equipments which are used for conducting scientific experiments, investigations & clinical research. nebulizers &syringe needles as well as Infusion pumps are the most commonly used clinical trial supplies. They are mainly used for conducting medical trials for detecting, preventing & treating various ailments, analysing the efficiency of a treatment method, & in the diagnosis of various infectious as well as metabolic disorders. They also find extensive applications during oncological, respiratory, cardiovascular and neurological procedures.
Significant growth in biopharmaceutical industry is one of the prominent factors driving the global clinical trial supplies market growth. Clinical Trials gaining traction for treating diseases including HIV and cancer, with the development of innovation drug delivery systems. Also, the increase in number of clinical trials is expected to boost the global clinical trial supplies market growth over the forecast period. For instance, according to ClinicalTrials.gov information, as of May 2017, the United States accounted for 36% of clinical trials & around 245,188 studies were registered with ClinicalTrials.gov.
Furthermore, the rise in adoption of supply chain management system is due to increasing pressure to cut down research and development cost & improve the operational efficiency as the supplies contribute significantly to the total research and development expense of biopharmaceutical companies. To cut down the cost of supplies, biopharmaceutical companies are outsourcing their supplies to global as well as regional supply players, which helps them to focus on the clinical trial process. The geographical distribution of clinical Trials is slowly shifting from developed countries to emerging countries> the increasing cost & difficulty in patient recruitment have led biopharmaceutical companies to shift towards regions including Europe, Asia Pacific, Latin America, and Middle East for cost efficiency & quick patient recruitment.
The increase in cost of drug development and clinical trials is the major restraint which hamper the global clinical trial supplies market growth. Also, the stringent regulatory guidelines for development of drug delivery systems are expected to restraint the growth of clinical trial supplies market.
The Global Clinical Trial Supplies Market is segmented into Clinical Phase Type such as Phase I, Phase II, Phase III, and Other. The Phase I is anticipated to be the fastest growing segment owing to the increase in number of outsourced Phase I trials. Lesser sample population & high capital investment are the important factors responsible for outsourcing the major volume of clinical trials.
Further, market is segmented into product & services including Manufacturing, Storage & Distribution, and Supply Chain Management. Based on the product & services segment is expected to be fastest growing segment, due to the increase in number of outsourced storage & distribution facility. On the basis of end use market is segmented into Pharmaceuticals, Biologics, Medical Device, and Others.
Based on the therapeutic use market is segmented into Oncology, CNS, Infectious disease, Cardiovascular, Metabolic disorders, and Others. Oncology is estimated to register for the largest revenue share of the overall clinical trials supplies market, due to the increase in cancer care therapeutics and the execution of clinical trials for the design, execution, and patient identification of these therapies fuel the demand for clinical supplies to be used in cancer therapies.
The Global Clinical Trial Supplies Market is segmented into five regions such as North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
The North America is the leading contributor to the global clinical trial supplies market growth followed by Europe. Due to the high share of clinical trials conducted in this region & greater number of clinical trial supply players with the most advanced technology. Also, APAC is anticipated to witness the fastest growth due to its diverse population, easy access to patients, proximity to North America, & low translation cost. Latin America & Middle East and Africa are also expected to witness significant growth due to the rise in number of clinical trials conducted in this region.
Several key players are discussed in global clinical trial supplies market including, Thermo Fischer Scientific, Sharp Packaging Services, Patheon Inc., Biocair International Ltd., Almac Group Ltd, PAREXEL International Corporation, KLIFO A/S, Catalent Pharma Solutions, Inc., PCI Pharma Distribution, Movianto, etc. The number of new companies trying to enter into the healthcare industry will positively influence the market growth. Moreover, expansion of geographic presence & development of niche business units catering to the healthcare industry are being currently performed by various players. For instance, in July 2015, Almac Group expanded its supply facility in the Singapore.
By Clinical Phase Type
By Product & Services
By End Use
By Therapeutic Use
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