Clinical Trial Supplies Market Size, Share & Industry | 2031

Report Description

The global clinical trial supplies market size is expected to register a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing number of prevalence in clinical trials and increasing complexities of drug testing.

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Clinical trial supplies include several equipment and tools that are used for clinical research. Nebulizers, infusion pumps, and syringe needles are the most commonly used clinical trial supplies. Rising acceptance of supply chain management system globally is basically due to increasing pressure to reducing research & development cost and rise in the operational supplies. These factors lead to further contribute significantly to the expansion of the total research & development projects and expenditure of biopharmaceutical companies. To lower down the cost of supplies, biopharmaceutical companies are channelizing their supplies to regional and global players, which is helping them to concentrate more on the trial process.

The geographical supply of these trials is significantly shifting from developed nations to emerging countries. The increasing cost and problems in patient admission have led biopharmaceutical companies to shift towards regions such as Latin America, Asia Pacific, Middle East, and Central & Eastern Europe for cost efficiency and quick patient admission. Developing countries also possess greater chronicle disease variation compared to the West, where conventional diseases are growing. The greater chronicle disease variation in the emerging countries are creating lucrative opportunities to biopharmaceutical companies to expand clinical trials for rare diseases.

Market Trends, Drivers, Restraints, and Opportunities

• Rising number of clinical trials due to increasing demand for drugs and vaccines for various disease are key driving factors of the market.
• Increasing expansion of bio similar and biologics drugs experiments in drug discovery trials are expected to accelerate the growth of this market.
• Technology advancement in supply chain management is also expected to lead the growth of the supplies market.
• Reducing the overall cost of supplies, biopharmaceutical companies are channelizing their supplies to regional and global players. This is expected to fuel the market.
• High expenditure on clinical trials and cost of equipment installation for clinical practice in developing countries present key challenges, which are expected to hamper the market growth.

Scope of the Report                         

The report on the global clinical trial supplies market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Phase I segment is expected to grow at a rapid pace

Based on clinical phases, the global clinical trial supplies market is divided into phase I, phase II, phase III, and others. The phase I segment is expected to expand at a rapid pace during the forecast period due to less population and high capital investment for initial development of clinical experiments globally. However, the phase III segment is anticipated to account for a key share of the market in the coming years as drug development and testing at this stage is more complex and is required a massive investment for research and development to the greater extent.

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Storage & distribution segment is projected to expand at a considerable CAGR

On the basis of products and services, the market is segregated into storage & distribution, manufacturing, and supply chain management. The storage & distribution segment is further classified as cold chain distribution and non-cold chain distribution. The storage & distribution segment is projected to expand at a considerable CAGR during the forecast period owing to increasing number outsource distribution and storage. Meanwhile, the supply chain management segment is anticipated to constitute a key share of the market during the forecast period as major market players are widely focused on giving high emphasis on experienced personnel of chain management.

 Biologics segment is expected to represent a robust growth rate

Based on end-users, the global clinical trial supplies market is divided into biologics, medical device, pharmaceutical, and others. The biologics segment is expected to represent a robust growth rate during the projected period owing to the increased demand for bio similar in both developing and developed countries. On the other hand, the medical device segment is anticipated to exhibit rapid growth during the forecast period due to increase in the research and development activities that require medical equipment.

 Oncology segment is expected to register a high CAGR

On the basis of therapeutic uses, the global clinical trial supplies market is segmented into CNS, cardiovascular, oncology, infectious disease, metabolic disorders, and others. The oncology segment accounted for a key share of the market in 2019 and is expected to register a high CAGR during the forecast period due to tremendous growth in research and development pipeline. Moreover, the rising number of cancer patients globally results in the rapid expansion of oncology that mostly require temperature sensitive distribution. However, the infectious disease segment is anticipated to expand at a rapid pace during the forecast period owing to increasing prevalence of infectious disease especially in developing countries.

North America is anticipated to constitute a key market share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to constitute a key market share in the near future owing to the advanced technology and greater number of clinical trials in the region. The market of Asia Pacific, however, is anticipated to expand at a rapid pace during the forecast period due to diverse population, easy access to patients and low translation cost. Asia Pacific also provides greater economic advantages to biopharmaceutical companies as the government in China and Singapore are constantly providing massive funds to promote biomedical research in the region.

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