Clinical Trial Supplies Market Key Players, Trends, Growth Opportunities and Industry Forecast till 2025
“The factors that propel the growth of the market include growth of biopharmaceutical industry, increase in a number of clinical trials, growing complexities, rising number of biosimilar and biologics drugs in trials, and development in supply chain management technology.”
Global clinical trial supplies market is anticipated to expand at a significant CAGR of 6.94% in the upcoming period as the scope, product types, and its applications are increasing across the globe. Clinical trial supply is responsible for offering clinical supplies needed for clinical studies of medical devices or drugs in accordance with the protocol and applicable regulatory necessities. The factors that propel the growth of the market include growth of biopharmaceutical industry, increase in a number of clinical trials, growing complexities, rising number of biosimilar and biologics drugs in trials, and development in supply chain management technology.On the other hand, a factor may hamper the growth of the market including the high cost of clinical trials. The market could be explored by clinical phase, product/service type, therapeut ic use, end use, and geography. Clinical trial supplies could be explored by clinical phase as Phase III, Phase II, Phase I, and Others. The “Phase I clinical trials” segment led the clinical trial supplies market in 2017 and will continue to lead in the forecast period. The key factors that may be attributed to the growth of market includes increasing number of Phase I clinical trials being outsourced, high investment in this sector, increasing globalization and less sample population for outsourcing the main volume of these trials. Based on product/service type, the market could span Storage & distribution (Non -cold chain based, and Cold chain based), Manufacturing and Supply chain management. The market could be explored based on