Global Clinical Trial Supplies Market

  • March 17, 2020
  • 856
  • Life Sciences

New York City, NY, 17 March 2020/24 Market Rports: It is estimated for the clinical trial supplies market to reach USD 2.8 billion by 2025 witnessing the growth at a CAGR of 7.5% during the forecast period of 2020 to 2025. The increasing R&D expenditure in pharmaceutical and biopharmaceutical companies and the globalization of clinical trials & harmonization of regulations are the factors that are driving the growth of the market during the forecast period.

The logistics services segment is expected to dominate this market during the forecast period

Logistics; distribution, storage, and retention; packaging, labelling, and blinding; manufacturing; comparator sourcing; and solutions are the segmentation for the market based on service. Owing to the globalization of clinical trials and the increasing number of clinical trials involving temperature-sensitive products, the logistics services segment is expected to dominate this market during the forecast period. The comparator sourcing services segment is estimated to grow at the highest CAGR during the forecast period.

The phase III segment is expected to account for the largest share of the market

Phase I, phase II, phase III, phase IV, and BA/BE studies are the segmentation for the market based on phase. During the forecast period, the phase III segment is expected to account for the largest share of the market. The fact that phase III trials are the most expensive, time-consuming, and difficult to design and run is driving the growth of the market during the forecast period.

North America is estimated to lead the market during the forecast period

Based on geography, North America is estimated to lead the market during the forecast period. The presence of well-established CROs and the high and growing investments in R&D by pharmaceutical and biopharmaceutical companies are driving the growth of the market in the region. Furthermore, the Asia Pacific market is expected to grow at the highest CAGR during the forecast period owing to the presence of a larger patient population and less-stringent patient recruitment regulations.

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