Major Growth Boosting Factors:
The increasing R&D expenditure in pharmaceutical and biopharmaceutical companies and the globalization of clinical trials & harmonization of regulations are the key factors driving the growth of this market.
Expected Revenue Surge:
The clinical trial supplies market is projected to reach USD 2.5 billion by 2025 from USD 1.7 billion in 2020, at a CAGR of 7.8%.
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Report Objectives:
# To define, describe, and forecast the market on the basis of service, phase, drug type, therapeutic area, and region.
# To provide detailed information regarding the major factors influencing the growth of the market.
# To strategically analyze micromarkets with respect to their individual growth trends, future prospects, and contributions to the overall market.
# To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
# To forecast the size of the market segments with respect to four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World.
# To profile key market players and comprehensively analyze their product portfolios, market positions, and core competencies.
# To track and analyze competitive developments such as acquisitions, new product launches, expansions, agreements, partnerships, collaborations, and R&D activities in the clinical trial supplies market.
Geographical Growth Expectations:
North America is the largest regional market for clinical trial supplies
Currently, North America is the largest regional market for clinical trial supplies, and this trend is expected to continue during the forecast period of 2020 to 2025. The presence of well-established CROs and the high and growing investments in R&D by pharmaceutical and biopharmaceutical companies are the major factors responsible for the large share of North America in the global clinical trial supplies market. However, owing to the presence of a larger patient population and less-stringent patient recruitment regulations, the Asia Pacific market is expected to grow at the highest CAGR during the forecast period.
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Key Players:
The clinical trial supplies market is consolidated in nature. The prominent players operating in this market include Alamc Group (UK), Catalent, Inc. (US), PCI Services (US), Parexel International Corporation (US), Sharp Packaging Services (US), Biocair (UK), O&M Movianto (US), KLIFO A/S (Denmark), and Thermo Fisher Scientific, Inc. (US).
Catalent, Inc. (US) is the leading player in the global clinical trial supplies market. The company has an extensive network that provides comprehensive services to various pharmaceutical companies for phase I–IV clinical trials. Catalent’s offerings in the clinical trial supplies market include forecasting and planning services, packaging services, comparator sourcing, and distribution and logistics services. In 2018, Catalent generated ~51% of its total revenue from the US. Also, the company is focusing on increasing its customer base and expanding its reach in untapped APAC markets.
Almac Group (UK) is another major player in the global clinical trial supplies market. The company offers a wide range of services, from research through pharmaceutical and clinical development to the commercialization of products.
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