Growing Complexities & Rising Number Of Biologics & Biosimilar Drugs In Trials Is Expected To Drive Clinical Trial Supplies Market Till 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. clinical trial supplies market, by phase, 2014 - 2025 (USD Million) |
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.
Browse full
research report on Clinical Trial Supplies Market: www.grandviewresearch.com/industry-analysis/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.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has segmented the clinical trial supplies market by
phase, product/service, end-use, therapeutic use and region:
Clinical
Phase Outlook (Revenue, USD Million; 2014 - 2025)
- Phase I
- Phase II
- Phase
III
- Others
Product/Service
Outlook (Revenue, USD Million; 2014 - 2025)
- Manufacturing
- Storage
& distribution
- Cold
chain based
- Non-cold
chain based
- Supply
chain management
End-Use
Outlook (Revenue, USD Million; 2014 - 2025)
- Pharmaceuticals
- Biologics
- Medical
device
- Others
Therapeutic
Use Outlook (Revenue, USD Million; 2014 - 2025)
- Oncology
- CNS
- Cardiovascular
- Infectious
disease
- Metabolic
disorders
- Others
Regional
Outlook (Revenue, USD Million; 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- China
- Japan
- Latin
America
- Mexico
- Brazil
- MEA
- South
Africa
- Saudi
Arabia
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-clinical-trial-supplies-market
About Grand
View Research:
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, we offer market intelligence studies ensuring relevant and fact-based
research across a range of industries, from technology to chemicals, materials
and healthcare.
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