- Increasing R&D expenditure of pharmaceutical and biopharmaceutical companies.
- Increasing number of registered clinical trials.
- Increasing decentralization of clinical trials.
Overview of This Study:
This market research study involves the extensive use of secondary sources, directories, and databases to identify and collect information useful for this technical, market-oriented, and financial study of the global Clinical Trial Supplies Market.
In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information and assess market prospects. The clinical trial supplies market size was estimated through various secondary research approaches and triangulated with inputs from primary research.
# To define, describe, and forecast the global clinical trial supplies market based on type, therapeutic area, service, end user, phase, and region.
# To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, and opportunities).
# To forecast the size of the market segments with respect to four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World.
# To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall clinical trial supplies market.
# To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
# To profile key market players and comprehensively analyze their service portfolios, market positions, and core competencies.
# To track and analyze competitive developments such as acquisitions, service launches, expansions, partnerships, collaborations in the clinical trial supplies market.
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What the Market Looks Like?
The global clinical trial supplies market is projected to reach USD 2.9 billion by 2026 from USD 1.9 billion in 2021, at a CAGR of 8.5% during the forecast period of 2021 to 2026.
North America was the largest regional market for clinical trial supplies in 2020.
Geographically, the clinical trial supplies market is segmented into North America, Europe, Asia Pacific, RoW. In 2020, North America accounted for the largest share of the clinical trial supplies market, followed by Europe & Asia Pacific.
The growing number of registered clinical trials and significant investments in R&D for clinical trials in this region are major factors driving the growth of the North American market. The presence of many global pharmaceutical giants, such as Pfizer, Abbott Laboratories, and Johnson & Johnson (which outsource their clinical trials to reduce the costs and time associated with completing these trials) in this region is another key driver for market growth.
Key Market Players
Key players in the clinical trial supplies market include Thermo Fisher Scientific (US), Catalent, Inc. (US), Parexel (US), Almac Group (UK), Marken (US), Piramal Pharma Solutions (India), UDG Healthcare (Ireland).
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