Global Clinical Trial Supplies Markets 2023-2028: Biologics and Biosimilars Gain Traction, Specialized Testing Services in High Demand

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Jan 08, 2024, 20:45 ET

DUBLIN, Jan. 8, 2024 /PRNewswire/ -- The "Global Clinical Trial Supplies Market by Services (Manufacturing, Packaging, Logistics), Phases, Type (Small Molecules, Biologics), Therapeutic Areas (Oncology, CVD, Infectious, Immunology), End User (Pharma, Biotech, CROs), & Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global clinical trial supplies market is projected to reach USD 6.3 billion by 2028 from USD 3.9 billion in 2023, at a CAGR of 9.9%

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall clinical trial supplies market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies.

Factors such as the increasing number of clinical trials, growing product pipeline, and increasing decentralization of clinical trials are likely to have a positive impact on market growth.

The logistics and distribution segment held the dominant share in 2022

Based on services, the global clinical trial supplies market is segmented into pathogen component, adjuvant emulsions, particulate adjuvants, saponin-based adjuvants and other adjuvants. The adjuvant emulsions segment held a dominant share in the market in 2022. Extensive use of adjuvant emulsions in COVID-19 & other infectious diseases and the rising prevalence of contagious diseases are likely to have positive impact on the growth of the market.

Phase II segment accounted for the largest share of the phase segment in 2022

Based on phase, the clinical trial supplies market is segmented into phase I, phase II, phase III, phase IV, BA/BE studies. In 2022, the phase II segment accounted for the largest share of the clinical trial supplies market. The segment held the dominant share in the market owing to various factors such as increasing the number of registration in clinical trials and the rising R&D investment by pharmaceutical and biotechnologies company for new cancer drug development.

Asia-Pacific region is likely to grow at a faster pace

Asia-Pacific region is anticipated to grow at a significant CAGR during the forecast period. The growth of the region is majorly driven by the increasing number of registered clinical trials.

The increasing decentralization of clinical trials from China, India, and Japan due to presence of prominent players are engaged in providing services for clinical trial, supports market growth in the Asia-Pacific.

Premium Insights

Rising Prevalence of Infectious Diseases to Drive Market Growth
Small-Molecule Drugs Accounted for Largest Share of North American Clinical Trial Supplies Market in 2022
Logistics & Distribution Services to Continue to Dominate Market in 2028
Pharmaceutical & Biotechnology Companies Accounted for Largest Market Share in 2022
Asia-Pacific Countries to Register Highest Growth Rates from 2023 to 2028

Market Dynamics

Drivers

Increasing R&D Investments by Biopharma Companies
Growing Number of Clinical Trials
Growing Decentralization of Clinical Trials
Rising Prevalence of Orphan and Rare Diseases
Increasing Outsourcing Activities in Emerging Asian Economies

Restraints

High Cost of Drug Development

Opportunities

Growth Opportunities in Emerging Markets
Increased Investments in Development of Biologics and Biosimilars
Rising Demand for Specialized Testing Services

Challenges

High Cost of Clinical Trials

Company Profiles

Key Market Players

Thermo Fisher Scientific, Inc.
Catalent, Inc.
Eurofins Scientific
Piramal Pharma Solutions
PRA Health Sciences (A Subsidiary of Icon PLC)
Marken (A Subsidiary of UPS)
Parexel International (MA) Corporation
Biocair
Almac Group
Sharp Services, LLC
PCI Pharma Services
Nuvisan
Lonza Group

Other Players

OCT Group LLC
Corex Logistics Limited
Acnos Pharma GmbH
Clinical Services International
KLIFO
Clinigen Limited
Ancillare L.P.
N-SIDE
ADAllen Pharma
Durbin
Recipharm AB
IPS Pharma

For more information about this report visit https://www.researchandmarkets.com/r/m9kq4x

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