Clinical Trial Supplies Market: Current Analysis and Forecast (2022-2028)

Report Description

The Clinical Trial Supplies Market was valued at USD 31,277.69 million in 2021 & is expected to grow at a CAGR of 7% from 2022-2030. The growth of the clinical trial supplies market is being driven by several factors, including the significant increase in R&D expenditure by pharmaceutical and biopharmaceutical companies, the increasing number of registered clinical trials, and the trend towards decentralization of clinical trials. As reported by the Congressional Budget Office in 2021, the pharmaceutical industry has significantly increased its investment in R&D over the past two decades, with expenditures reaching 83 billion in 2019 – a 10-fold increase from the 1980s. Additionally, the number of new drug approvals has risen significantly, with a peak of 50 novel approvals by the Food and Drug Administration (FDA) in 2021. This increase in R&D expenditure and the growth of the pharmaceutical industry has had a positive impact on the clinical trial supplies market.

Some of the major players operating in the Thermo Fisher Scientific; Catalent, Inc.; Parexel; Almac Group; Marken; Piramal Pharma Solutions; Inizio; Recipharm; Myonex; Rubicon Research Pvt. Ltd.. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst therapeutic use, the cardiovascular segment to grow with high CAGR during the forecast period”

Based on the therapeutic use, the market is categorized into oncology, CNS, cardiovascular, infectious disease, metabolic disorders, dermatology, ophthalmology, and others. The cardiovascular segment is anticipated to grow with a significant CAGR during the forecast period. According to the World Health Organization, cardiovascular diseases are the leading cause of death across the globe. Cardiovascular diseases results in around 17.9 million deaths each year, globally. The major causes of cardiovascular diseases include high consumption of salt in the diet, increased consumption of tobacco, rising prevalence of smoking, and higher alcohol consumption. Thus, there is a growing need for new treatments and drugs to prevent and treat these diseases. As a result, there is a high demand for clinical trial supplies used in the development and testing of new drugs and treatments for cardiovascular diseases.

“Amongst phase, the phase-III category held a significant share of the market in 2021”

By the phase, the market is segmented into phase-I, phase-II, phase-III, and phase-IV. The phase-III dominated the market in 2021. Phase III clinical trials are the most complex of all clinical trial phases. Although the number of drugs being tested in this phase is relatively low, the complexity involved in this phase is at its highest. The failure rate in this phase is the highest due to the need for complex dosing at an optimal level, a large sample size, and a well-designed study. This high failure rate and the associated financial and human losses are a major concern. To mitigate these risks, an efficient supply chain and logistics system is essential, which is expected to drive market growth.

“Amongst end use, the pharmaceutical category held a significant share of the market in 2021”

By end use, the market is categorized into pharmaceutical, biologics, medical device, and others. The pharmaceutical held a significant share of the market in 2021. The pharmaceutical segment is expected to dominate the clinical trial supplies market during the forecast period. This is due to the high number of clinical trials being conducted for the development of new drugs and treatments by pharmaceutical companies. The clinical trial supplies used in pharmaceuticals include items such as syringes, vials, ampoules, tubes, needles, caps, and other consumables. The increasing number of clinical trials being conducted by pharmaceutical companies for the development of new drugs and treatments is expected to drive the demand for clinical trial supplies, which in turn is expected to drive the growth of the pharmaceutical segment. In addition, the increasing focus of pharmaceutical companies on developing drugs and treatments for chronic diseases, such as cancer, diabetes, and cardiovascular diseases, is also expected to drive the demand for clinical trial supplies. This is because these diseases require long-term treatment and the use of a large number of clinical trial supplies.

“Asia Pacific to grow with high CAGR during the forecast period”

The Asia Pacific clinical trial supplies market is expected to witness significant growth in the coming years due to the increasing number of clinical trials in the region. The increasing collaborations between pharmaceutical companies and contract research organizations (CROs) in the region are also contributing to the growth of the market. For instance, in 2022, Merck in agreement with Wuxi National High-Tech Industrial Development Zone to significantly expand Merck’s first Asia-Pacific Mobius Single-Use manufacturing center in China. Further, in 2021, the Pfizer and AstraZeneca announced a collaboration to conduct clinical trials in the region for the development of new drugs and treatments. The collaboration is expected to provide access to a larger patient pool and to help speed up the clinical development process in the region. The increasing number of clinical trials in the region, combined with the increasing collaboration between pharmaceutical companies and CROs, is expected to provide opportunities for the growth of the market.

Clinical Trial Supplies Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global clinical trial supplies market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Clinical Trial Supplies Market Analysis (2022-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global clinical trial supplies market were the three major steps undertaken to create and analyze the adoption of clinical trial supplies in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global clinical trial supplies market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the clinical trial supplies market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the clinical trial supplies market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as phase, services, end use, and therapeutic use. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the clinical trial supplies market. Further, we conducted factor analysis using dependent and independent variables such as phase, services, end use, and therapeutic use of the clinical trial supplies market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the clinical trial supplies market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global clinical trial supplies market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the clinical trial supplies market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global clinical trial supplies market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global clinical trial supplies market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the phase, services, end use, and therapeutic use in the global clinical trial supplies market.

The main objective of the Global Clinical Trial Supplies Market Study

The current & future market trends of the global clinical trial supplies market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the clinical trial supplies market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the phase, services, end use, and therapeutic use
• Define and analysis of the regulatory framework for the clinical trial supplies industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the clinical trial supplies market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the clinical trial supplies market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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