The global clinical trial supplies market size reached US$ 2.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.3 Billion by 2027, exhibiting a growth rate (CAGR) of 7.67% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Clinical trial supplies refer to various tools and equipment that are used for conducting scientific experiments, investigations and clinical research. Infusion pumps, nebulizers and syringe needles are the most commonly used clinical trial supplies. They are primarily used for conducting medical trials for detecting, preventing and treating various ailments, analyzing the efficiency of a treatment method, and in the diagnosis of various infectious and metabolic disorders. They also find extensive applications during respiratory, oncological, cardiovascular and neurological procedures.
Significant growth in the biopharmaceutical industry is one of the key factors driving the growth of the market. Clinical trials are gaining immense traction for treating diseases, such as HIV and cancer, along with the development of innovative drug delivery systems. Furthermore, technological advancements facilitating the development of cold chain logistics and monitoring technologies, are also acting as crucial growth-inducing factors. Product manufacturers are focusing on optimizing the production and packaging processes that can minimize wastage and enhance the overall cost-efficiency. Moreover, the emerging trend of contract research organizations (CROs) is also impacting the market growth positively. CROs enable the pharmaceutical, biotechnological and medical instrument manufacturers to outsource research activities on a contractual basis, thereby increasing the utilization of various trial supplies. Other factors, including extensive research and development (R&D) undertaken by both the governmental and non-governmental organizations (NGOs) for the development of advanced drugs and treatment methods, are expected to create a positive outlook for the market.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global clinical trial supplies market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on services, phase, therapeutic area, and end-use industry.
Breakup by Services:
- Product Manufacturing
- Packaging, Labeling and Storage
- Logistics and Distribution
- Based on the services, the market has been segmented into product manufacturing; packaging, labeling and storage; and logistics and distribution.
Breakup by Phase:
- Phase I
- Phase II
- Phase III
- On the basis of the phase, the market has been segregated into phase I, phase II, phase III and others. At present, phase III exhibits a clear dominance in the market.
Breakup by Therapeutic Area:
- Cardiovascular Diseases
- Respiratory Diseases
- CNS And Mental Disorders
- The market has been analyzed on the basis of the therapeutic area into oncology, cardiovascular diseases, respiratory diseases, central nervous system (CNS) and mental disorders, and others. Amongst these, oncology holds the largest market share.
Breakup by End-Use Industry:
- Medical Device Industry
- Biopharmaceuticals Industry
- Pharmaceuticals Industry
- Based on the end-use industry, the market has been divided into medical devices, biopharmaceuticals, pharmaceuticals and others. Pharmaceuticals account for the majority of the total market share.
Breakup by Region:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- On the geographical front, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa. Currently, North America enjoys the leading position in the market.
- The report has also analysed the competitive landscape of the market with some of the key players being Almac Group Ltd., Catalent Pharma Solutions Inc., DHL, Parexel, Thermo Fisher Scientific Inc., PCI Services, Sharp Clinical, Biocair, Movianto, etc.
Key Questions Answered in This Report:
- How has the global clinical trial supplies market performed so far and how will it perform in the coming years?
- What are the key regional markets in the industry?
- What has been the impact of COVID-19 on the global clinical trial supplies market?
- What is the breakup of the market based on the services?
- What is the breakup of the market based on the phase?
- What is the breakup of the market based on the therapeutic area?
- What is the breakup of the market based on the end-use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global clinical trial supplies market and who are the key players?
- What is the degree of competition in the industry?