Clinical Trial Supplies Market to be Worth $3.4 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, July 11, 2023 /PRNewswire/ -- The global clinical trial supplies market size is expected to reach USD 3.4 billion by 2030, expanding at 6.5% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing volume of clinical trial studies coupled with the growing complexity in conduction of these trials are some of the major factors driving the market growth.

Key Industry Insights & Findings from the report:

• Based on the clinical phase, the market is anticipated to be dominated by the Phase III trial segment with a 52.7% revenue share in 2022. The presence of a large number of molecules currently under Phase III makes it the primary factor responsible for this deduction.
• Among services, the storage, and distribution segment is anticipated to witness the fastest growth at a CAGR of 6.8% during the forecast period. The rise in global biologics pipeline and temperature-sensitive drugs is expected to increase the complexities related to the logistics of clinical trial supplies.
• Biologics are expected to witness the fastest growth at 6.7% CAGR during the forecast period owing to the increasing research in the field of genetics and biotechnology such as the development of nanoparticle-based drug delivery systems.
• In terms of therapeutic use, oncology dominated the market with a revenue share of 38.8% in 2022. According to the United Press International, hospitals in the U.S. are disposing of billions of cancer drug vials due to improper dosage, thereby indicating the need for appropriate supply management.

Read full market research report, "Clinical Trial Supplies Market Size, Share & Trends Analysis Report By Clinical Phase (Phase I, Phase II, Phase III), By Product & Services, By End-Use, By Therapeutic Use, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Clinical Trial Supplies Market Growth & Trends

Globally, an increase in the prevalence of chronic diseases and the rapidly aging population are expected to drive the growth of R&D of biologics, which is expected to further propel the demand for efficient clinical supplies and contribute to the growth of the clinical trial supplies industry. Furthermore, an increase in the demand for orphan drugs and high investment in the R&D of rare diseases are also expected to contribute toward the development of biologic drugs. Thus, owing to these factors, this segment is likely to witness significant growth during the forecast period.

Direct-to-Patients (DTP) is an upcoming segment in the distribution of clinical trial supplies, which is expected to be the future model of distribution. DTP is one of the emerging models that involves delivering drugs to patients directly to create patient-centric trials. This would facilitate fewer visits to the site and reduce the burden on participants. The COVID-19 outbreak has led to the increased adoption of such a model, to continue clinical trial studies with minimum disruption. In addition, patient retention and a diverse pool of patients worldwide are some of the notable reasons that can be attributed to the high adoption of this model.

For instance, in 2022, Novartis invested around USD 10 billion in research and development. It also secured 23 approvals in the European Union, Japan, China, and the U.S. for new drugs and rare diseases. The company is also conducting 44 ongoing phase III programs in India with 17 clinical programs running in rare diseases such as atypical hemolytic uremic syndrome (aHUS), Immune thrombocytopenic purpura (ITP), spinal muscular atrophy (SMA), and Lupus Nephritis.

Global Clinical Supplies Market Report Scope

 

Clinical Trial Supplies Market Segmentation

Grand View Research has segmented the global clinical trial supplies market based on clinical phase, product/service, end-use, therapeutic use, and region

Clinical Trial Supplies Market - Clinical Phase Outlook (Revenue, USD Billion, 2018 - 2030)

• Phase I
• Phase II
• Phase III
• Others

Clinical Trial Supplies Market - Product/Service Outlook (Revenue, USD Billion, 2018 - 2030)

• Manufacturing

• Storage & distribution
• Cold chain based

• Non-cold chain based
• Supply chain management

Clinical Trial Supplies Market - End-Use Outlook (Revenue, USD Billion, 2018 - 2030)

• Pharmaceuticals
• Biologics
• Medical device
• Others

Clinical Trial Supplies Market - Therapeutic Use Outlook (Revenue, USD Billion, 2018 - 2030)

• Oncology
• CNS
• Cardiovascular
• Infectious disease
• Metabolic disorders
• Others

Clinical Trial Supplies Market - Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

• U.S. 
• Canada

• Europe

• U.K.
• Germany
• France
• Italy
• Spain
• Denmark
• Sweden
• Norway

• Asia Pacific

• Japan
• China
• India
• Australia
• South Korea
• Thailand

• Latin America

• Brazil
• Mexico
• Argentina

• Middle East & Africa

• South Africa
• Saudi Arabia
• UAE
• Kuwait

List of Key Players in the Clinical Trial Supplies Market

• Almac Group
• Biocair
• Catalent Inc.
• KLIFO
• Movianto
• PCI Pharma Services
• Sharp Services, LLC
• Thermo Fischer Scientific Inc.
• Marken
• PAREXEL International Corporation

Check out more related studies published by Grand View Research:

• Oncology Clinical Trials Market - The global oncology clinical trials market size is expected to reach USD 16.6 billion by 2027, expanding at a CAGR of 5.4%, according to a new report by Grand View Research, Inc. Increasing number of cancer cases and deaths due to the disease and rising demand for precision and personalized medicine to cure the disease is boosting the market growth.
• Immuno-oncology Clinical Trials Market - The global immuno-oncology clinical trials market size is expected to reach USD 15.1 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.6% from 2021 to 2028. The rapidly growing field of Immuno-oncology has emerged as a novel therapeutic area within the oncology ecosystem, transforming the treatment of cancer.
• Clinical Trial Kits Market - The global clinical trial kits market size is anticipated to reach USD 2.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.5% from 2021 to 2028. The factors driving market expansion include globalization of clinical trials, increasing demand for remote services, and rising clinical trial complexity.

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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