Clinical Trials Supply & Logistics Market to be dominated by Rising Life-Related diseases through 2027
Growing prevalence of cancer
and rise in R&D activities to drive the clinical trials supply &
logistics market in the forecast period, 2023-2027.
According to TechSci Research report, “Clinical
Trials Supply & Logistics Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2017-2027”, the global clinical
trials supply & logistics market is anticipated to grow at a significant
rate in the forecast period, 2023-2027. The increasing number of patients
suffering from cancer and life-related diseases, upsurge demand for precision
medicines, and extensive development in technology are the primary factors
driving the demand for the global clinical trials supply & logistics market.
Growing number of collaborations between companies, the growing
aging population, rising research and development expenditure, and large
number of clinical trials and research studies are expected to influence the
market demand. Also, the growing demand for vaccinations and medications is a
key factor for increasing the growth of the clinical trials supply &
logistics market, globally.
However, the complex regulations in the clinical
trial process from application to approval of new drugs, lack of necessary
expertise to proliferate and high costs in managing patients, and equipments may
likely hamper the growth of the global clinical trials supply & logistics market.
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The global clinical trials supply & logistics market is segmented into
service, phase, therapeutic area, end user industry, and company.
Based on service, the market
is segmented into logistics & distribution, storage & retention,
packaging, labeling, & blinding, manufacturing, comparator sourcing, and
others. The logistics & distribution segment is expected to witness the
significant growth in the upcoming years. This is because of the highly
regulated structure of the market, rise in global biologics pipeline, and globalization
of clinical trials.
Based on phase, the market
is segmented into phase 0, phase I, phase II, and phase III. The phase III segment
is expected to hold the considerable market share. This is due to the high
complexity, a high failure rate in this phase, cost associated with this phase,
and rise in the number of patients.
Based on therapeutic area,
the market is divided into oncology, cardiovascular diseases, neurological
disorders, and others. The oncology segment is expected to witness largest market share.
This is attributed to the high and growing number of research studies on cancer
therapeutics and the growing number of companies emphasizing on bringing
innovative cancer drugs.
Based on end user industry,
the market is divided into pharmaceutical and medical devices. The pharmaceutical segment is expected
to witness largest market share. This is attributed to the increasing rising
R&D activities and increased clinical trials.
Major operating companies
operating in global clinical trials supply & logistics market are:
- Thermo Fisher Scientific (Patheon)
- Catalent, Inc.
- United Parcel Service (Marken)
- PARAXEL International Corporation
- Almac Group
- Piramal Pharma Solutions (Piramal Group)
- UDG Healthcare, plc
- DHL International Limited
- Packaging Coordinators Inc.
- Walden Group SAS (Movianto)
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“North America region dominates the market in 2021 and is expected to maintain
its dominance in the coming years due to the rise in clinical trials being
conducted by pharmaceutical companies, and an availability of necessary funds. The
extensive research and development activities, large patient pool, improved healthcare facilities, and rising inorganic strategic growth are
propelling the market growth. Also, adoption of technologically advanced
products as well as rising number of regulatory agencies in the region are
expected to propel the global clinical trials Supply & Logistics market growth
till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Clinical Trials Supply
& Logistics Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2017-2027 Segmented By Service (Logistics & Distribution; Storage
& Retention; Packaging, Labeling, & Blinding; Manufacturing; Comparator
Sourcing; Others), By Phase (Phase 0, Phase I, Phase II, Phase III), By
Therapeutic Area (Oncology, Cardiovascular Diseases, Neurological Disorders,
Others), By End User Industry (Pharmaceutical v/s Medical Devices), By Company
and By Region”, has evaluated the future growth potential of global clinical
trials supply & logistics market and provides statistics & information
on market size, structure, and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in global
clinical trials supply & logistics market.
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