The global clinical trial supply and logistics market size is estimated to come to USD 5.4 billion by 2028. It is likely to enlarge by 7.1% CAGR from 2021 to 2028.
The enlargement of the market is credited to the modernization along with the technological progressions in clinical trial supply and logistics services plus the growing necessity to administer clinical trials.
As a result of the growing demand for the Covid-19 vaccine, clinical trials have augmented. In accordance with the World Health Organization (WHO), at present above 80 vaccines are being examined in clinical trials, and more than 180 in the pre-clinical phase. This is expected to augment the clinical trial supply and logistics market.
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Further key findings from the report suggest:
• Asia Pacific is likely to record the highest 7.8% development speed, all through the forecast period. The region possesses admittance to low-priced overheads for staffing, diversified as well as huge patient group, furthermore encouraging strategies that formulate Asia Pacific attractive for the clinical trials
• The cardiovascular diseases section held more than 25.0% revenue share and directed the market, in 2020, by therapeutic area, because of the growth in the amount of cardiovascular research analysis plus the companies concentrating on bringing novel medicines to the market
• In 2020, the pharmaceuticals division detained the leading more than 40.0% revenue share of the market, by end user. This is because of the attendance of a huge number of companies within the market in addition to the investment by the companies
• The phase III section held more than 40.0% revenue share and directed the market, on the basis of phase, in 2020
• As a result of the growth in clinical trials because of the eruption of Covid-19 pandemic the logistics & distribution service sector held more than 20.0% revenue share and led the market, in 2020
Million Insights segmented the global clinical trial supply and logistics market based on End User, Therapeutic Area, Phase, Service, and Region.
Clinical Trial Supply And Logistics Service Outlook (Revenue, USD Million, 2016 - 2028)
• Logistics & Distribution
• Storage & Retention
• Packaging, Labeling, and Blinding
• Comparator Sourcing
• Other Services (Solutions, Ancillary Supply)
Clinical Trial Supply And Logistics Phase Outlook (Revenue, USD Million, 2016 - 2028)
• Phase I
• Phase II
• Phase III
• Phase IV
Clinical Trial Supply And Logistics End-user Outlook (Revenue, USD Million, 2016 - 2028)
• Medical Device
Clinical Trial Supply And Logistics Therapeutic Area Outlook (Revenue, USD Million, 2016 - 2028)
• Cardiovascular Diseases
• Respiratory Diseases
• CNS and Mental Disorders
Clinical Trial Supply And Logistics Regional Outlook (Revenue, USD Million, 2016 - 2028)
• North America
• Asia Pacific
• South Korea
• Latin America
• Middle East & Africa
• South Africa
• Saudi Arabia
Various companies for clinical trial supply and logistics market are:
• Almac Group
• Catalent, Inc.
• Packaging Coordinators Inc.
• UDG Healthcare
• Thermo Fisher Scientific (Patheon)
• Piramal Pharma Solutions