Clinical Trial Equipment & Ancillary Solutions Market To Grow Substantially At A CAGR Of 8.1% During 2022 To 2030

Posted by rahul nikade on January 12th, 2023

Clinical Trial Equipment & Ancillary Solutions Industry Overview

The global clinical trial equipment & ancillary solutions market size was valued at USD 2.52 billion in 2021 and is anticipated to exhibit a CAGR of 8.1% during the forecast period. 

The global market has noticed critical growth on account of the rising R&D investments, evolving need for clinical trials, and the rapid growth of the pharmaceutical and medical industries. The COVID-19 outbreak had temporarily slowed down the process of clinical trials in 2020, owing to the national lockdown implemented by the government, which had affected the market negatively. As clinical trials evolve, more resources are required for a clinical trial, including the drugs, equipment, and ancillary supplies. Ancillary supplies include all items necessary to perform a clinical study, such as syringes, surgical knives, swabs, gloves, and any other material that the patient and medical professional need to administer the medication and analyze the effectiveness and safety parameters under examination.

Gather more insights about the market drivers, restrains and growth of the Global Clinical Trial Equipment & Ancillary Solutions Market

Sourcing equipment & ancillary materials for clinical trials involves considerably more than just procurement. It needs an in-depth understanding of the study’s design and requirements, as well as rigorous proactive planning to guarantee that the most relevant equipment and supplies are bought at the correct time and at a reasonable price. A combination of internal knowledge and external help is strongly recommended in handling the complexity of equipment and ancillary supply, restocking, logistics, and expiry management.

There is a massive rise in the number of clinical studies being undertaken for COVID-19, this is expected to improve the market growth. Apart from this high investment in R&D and adoption of virtual clinical trials owing to the pandemic have further supported the market growth.

Browse through Grand View Research's Medical Devices Industry Research Reports.

• Clinical Trials Market - The global clinical trials market size was valued at USD 47.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030. However, the market growth was hindered in 2020 due to the COVID-19 pandemic. In 2020, Parexel and Synairgen plc formed a strategic collaboration for conducting a Phase III study of an Interferon-beta (IFN-beta) treatment for COVID-19 patients. 
• Virtual Clinical Trials Market - The global virtual clinical trials market size was estimated at 7.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2022 to 2030. The COVID-19 pandemic has significantly impacted the market. The market is majorly driven by a rise in R&D activities, the increasing healthcare digitization, as well as adoption of telehealth.

Clinical Trial Equipment & Ancillary Solutions Market Segmentation

Grand View Research has segmented the global clinical trial equipment & ancillary solutions market based on product, phase, and region:

Clinical Trial Equipment & Ancillary Solutions Product Outlook (Revenue, USD Million, 2018 - 2030)

• Sourcing
  1. Procurement
  2. Rental
• Supply/Logistics
  1. Transportation
  2. Packaging
  3. Others
• Service
  1. Calibrations
  2. Equipment Servicing
  3. Others
• Others

Clinical Trial Equipment & Ancillary Solutions Phase Outlook (Revenue, USD Million, 2018 - 2030)

• Phase I
• Phase II
• Phase III
• Phase IV

Clinical Trial Equipment & Ancillary Solutions Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Market Share Insights

• September 2021: Ancillare acquired NG BV in the Netherlands. The acquisition strengthens Ancillare's supply chain capabilities in the pharmaceutical products area, offering sponsors worldwide greater control and supply chain transparency.
• July 2021: Parexel announced an inventive collaboration with Cancer Hospital Chinese Academy of Medical Sciences (CHCAMS) to design patient-centric protocol designs and methodologies for decentralized clinical trials in China. This will also involve quantitative research to enhance the clinical trial experience of oncology patients.

Key Companies profiled:

Some prominent players in the global clinical trial equipment & ancillary solutions market include

• Ancillare, LP
• Imperial Clinical Research Services
• Woodley Equipment Company Ltd.
• Thermo Fisher Scientific, Inc.
• PPD, Inc.
• PAREXEL International Corp.
• MediCapital Rent
• Quipment SAS
• IRM
• Marken
• Myonex
• Yourway

Order a free sample PDF of the Clinical Trial Equipment & Ancillary Solutions Market Intelligence Study, published by Grand View Research. 

About Grand View Research

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