Market Research Report
Clinical Trial Supplies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||945262|
|Published||Content info||104 Pages
Delivery time: 2-3 business days
|Clinical Trial Supplies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: June 18, 2020||Content info: 104 Pages||
The global clinical trial supplies market is currently witnessing strong growth. 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. Looking forward, IMARC Group expects the market to register a CAGR of 6.5% during 2020-2025.