Clinical Trial Supplies Market Is Expected To Grow At A CAGR Of 7.3% CAGR from 2014 to 2025: Grand View Research, Inc.
The global clinical trial supplies market is expected to
reach USD 3.3 billion by 2025, according to a new report by Grand View
Research, Inc. The market is expected to witness growth at 7.3% CAGR owing to
Increasing volume of clinical trial studies coupled with the growing complexity
in conduction of these trials are the primary driver of the industry.
Furthermore, geographic expansion and development of Information Technology
(IT) to facilitate higher integration and smooth performance of activities are
other vitally impacting parameters. Over the next eight years, the clinical
trials and pharmaceutical industry is anticipated to continue steady growth,
thereby promoting the high requirement of clinical trial supplies.
U.S and Canada are home to
majority of clinical trials which are conducted in this region. No language
barrier is one of the major factor for the preference of this region for
majority of clinical trials, as English language is widely spoken in this
region. Major CRO’s and biopharmaceutical companies have their hub in this
region and with advancement in technology the demand for efficient supplies are
increasing and the region is expected to dominate the clinical trial supplies
market over the forecast period.
U.S. clinical trial supplies
market, by phase, 2014 - 2025 (USD Million)
Browse full research report on
Clinical Trial Supplies Market
Further key findings from
the report suggest:
- On the basis
of clinical phase, the market is anticipated to be dominated by Phase III
in 2025. The presence of large number of molecule estimated to reach Phase
III by 2020 is the primary factor responsible for this prediction.
- By services,
storage and distribution is anticipated to witness the fastest growth at a
CAGR of over 7.0%.
- Key end-users
of this industry are pharmaceuticals, and biologics. Biologics are
expected to witness fastest growth owing to the increasing research in the
field of genetics and biotechnology such as development of nanoparticle
based drug delivery systems.
- In terms of
therapeutic use or clinical indication, oncology dominates the market. The
highest research activity as of 2016 is being performed for this
indication, which in turn is expected to drive the market.
- Few of the
industry players include Movianto GmbH, Thermo Fischer Scientific, Sharp
Packaging Services, Catalent Pharma Solution, Biocair International Ltd.,
PCI Services, Almac Group Ltd, and Patheon Inc. Other players present in
the market space include Clinigen Group Plc, Merck Serono, and Chimerix.
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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