Meticulous Research® has released a comprehensive report titled " clinical trial supplies market by Phase (I–IV) Service (Manufacturing, Packaging, Logistic, Documentation) Type (Biologic, Small-molecule, Medical Device) Therapy Area (Oncology, Cardiology, CNS, Immunology, Respiratory) End User - Global Forecast to 2031," forecasting the global market to reach $5.59 billion by 2031, with a CAGR of 7.7%.
The report identifies several growth drivers, including an increase in clinical trials, decentralization of trial models, and the rise of generic and biopharmaceutical production. The market is further supported by increased R&D investments by pharmaceutical and biotech companies and the need for innovative therapies. However, the high costs of drug development present a significant barrier to growth.
The report also notes emerging opportunities in developing economies and the impact of patent expirations on market expansion. However, the industry faces challenges from evolving regulations and the risk of clinical trial failures, particularly in rare diseases.
The market is segmented by Clinical Phase (I–IV), Services (Manufacturing, Packaging & Labeling, Logistics & Distribution, Documentation, Other Services), Type (Medical Devices, Biologics, Small Molecules), Therapeutic Area (Cardiology, Infectious Diseases, Oncology, CNS, Inflammation & Immunology, Metabolic Disorders, Respiratory Disorders, Others), End User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Medical Device Manufacturers, Clinical Research Organizations), and Geography.
Phase III trials are expected to grow the fastest, driven by their complexity and high patient recruitment challenges. These trials require specialized clinical trial supply services.
Logistics & distribution services are projected to lead the market by 2024, driven by the global expansion of clinical trials. Efficient logistics are crucial for maintaining drug supply and minimizing wastage, with real-time tracking enhancing supply chain transparency.
Biologics are expected to grow at the highest rate among all types due to their complexity and low success rate in clinical trial approvals. The specialized manufacturing processes required for biologics drive the demand for dedicated clinical trial supply services.
Oncology is projected to dominate the market in 2024, driven by the rising incidence of cancer, an expanding drug pipeline, and increased government funding. For example, the University of Birmingham received a $12 million grant from Cancer Research UK in June 2023 to support its clinical trials unit.
Pharmaceutical & biotechnology companies are expected to be the dominant end users by 2024, driven by a focus on personalized medicine and increased research funding. The NIH's funding increase from $33 billion in 2015 to $42 billion in 2021 highlights this trend
North America is expected to lead the market, supported by the presence of key industry players, advanced laboratories, and significant R&D investments.
Key Players
The key players operating in the global clinical trial supplies market are Catalent, Inc. (U.S.), NUVISAN GmbH (Germany), Thermo Fisher Scientific Inc. (U.S.), Almac Group (U.K.), Eurofins Scientific SE (Luxembourg), Parexel International (MA) Corporation (U.S.), Marken (U.S.), Biocair International Limited (U.K.), KLIFO (Denmark), Piramal Pharma Limited (India), Movianto Group (U.K.), and ICON plc (Ireland).
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Key questions answered in the report-
- Which are the high-growth market segments in terms of clinical phase, service, type, therapeutic area, end user, and region/country?
- What was the historical market size for clinical trial supplies globally?
- What are the market forecasts and estimates for the period 2024–2031?
- What are the major drivers, restraints, challenges, opportunities, and trends in the global clinical trial supplies market?
- Who are the major players in the global clinical trial supplies market?
- What is the competitive landscape like, and who are the market leaders in the global clinical trial supplies market?
- What are the recent developments in the global clinical trial supplies market?
- What are the different strategies adopted by the major players in the global clinical trial supplies market?
- What are the geographical trends and high growth regions/countries?
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