Clinical Trial Supplies Market Overview and Introduction

Clinical trials constitute an expensive part of the new drug development process and thus pharmaceutical companies are seeking ways to reduce this expenditure. The objective of clinical trial supply chain management is to ensure the supply of sufficient drugs for volunteers while minimizing operational costs. Given the uncertainties in patient participation and completion of the treatment regimen, it is necessary to maintain some level of safety stock in the system, resulting in more drug inventories.

The global clinical trial supplies market is mainly driven by the rising number of clinical trials, increasing complexities, and a rising number of biologics & biosimilar drugs in trials. Moreover, increase in R&D investments and support from governments for conducting more research, plays a pivotal role in contributing to the growth of clinical trial supplies market. However, a longer approval time for clinical trials is likely to restrain market growth to a certain extent.

The global clinical trial supplies market can be segmented into products & services, phases, therapeutic area, and regions.

Clinical Trial Supplies Market By Products & Services

Based on products & services, the market is segmented into manufacturing, packaging & labeling, and storage & distribution. The storage & distribution segment is expected to dominate the clinical trial supplies market during the forecast period. The growth of this segment can be attributed to the increasing outsourcing of storage & distribution services and rising clinical trials across the globe.

Clinical Trial Supplies Market By Phases

Based on phases, the market is segmented into phase I, phase II, phase III and bioequivalence studies. The phase III segment is expected to dominate the clinical trial supplies market during the forecast period owing to its high cost and participation of large number of patients in phase III trials.

Clinical Trial Supplies Market By Therapeutic Area

Based on the therapeutic area, the market is segmented into oncology, CNS & mental disorders, infectious diseases, respiratory diseases, blood disorders, cardiovascular diseases and dermatology. The oncology segment is expected to dominate the clinical trial supplies market during the forecast period owing to the tremendous R&D pipeline of oncology drugs. Additionally, rising government funding for the development of new cancer drugs is likely to propel the clinical trial supplies market.

Clinical Trial Supplies Market By Region

Based on region, the global Clinical Trial Supplies market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the Clinical Trial Supplies market, followed by Europe. The growth in North America can be attributed to the high number of ongoing R&D activities, existence of multinational pharmaceutical & biotechnology companies that are actively participating in drug discovery processes and advanced health care infrastructure.

Clinical Trial Supplies Market Prominent Players

Some of the prominent players in the Clinical Trial Supplies market include Almac Group, Catalent, Inc, Parexel International Corporation, Thermo Fisher Scientific Inc., PCI Pharma Services, Sharp, Biocair, Movianto, KLIFO and MARKEN among others.