The Clinical Trial Supply and Logistic Market, valued at US$ 20.80 billion in 2022, is projected to grow at a CAGR of 9.10% from 2022 to 2029, reaching nearly US$ 38.25 billion. Clinical trial and logistic service providers play a crucial role in supporting research institutes by providing equipment, managing trial sites, and coordinating patient contacts for drug testing.
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Market Dynamics:
- Increasing R&D Expenditure: The pharmaceutical and biopharmaceutical sector's rising R&D expenditure for drug development drives market growth, along with the growing complexity in clinical studies and heightened competition among key players.
- Technological Advancements: Adoption of new technologies in supply chain management is fueled by the growing complexity in clinical studies and the need for efficient logistics management. The integration of technology positively impacts both inbound and outbound logistics processes.
- Impact of COVID-19: The COVID-19 pandemic introduced logistical challenges to the clinical trial market, leading to significant changes in the conventional supply chain. Rapid adoption of remote trial approaches and direct-to-patient approaches helped manage logistical constraints.
Segment Analysis:
Application:
by Type
Logistics & distribution
Storage & retention
Packaging, labeling, and blinding
Manufacturing
Comparator sourcing
The Clinical Trial Supply and Logistic Market is divided into the following segments based on the service type: Manufacturing, Comparator sourcing, Packaging, Labeling, and Blinding, Storage & Retention, Logistics & Distribution, and Packaging. The Clinical Trial Supply and Logistic Market holds the greatest market share of 25% in the Logistics & Distribution sector in 2021.Additionally, it is projected that during the forecast period, this segment would develop at the highest CAGR of. This is a result of the industry's highly regulated structure, the rising number of trials, and the medication development of sensitive items. Both the inward and outward sides of the global market are benefiting from technological advancement.
by End Users
Pharmaceuticals
Biological
Medical Device
The Clinical Trial Supply and Logistics Market is divided into three segments based on the End User: Pharmaceuticals, Biologicals, and Medical Devices. In 2022, the medicines section held a 41% market share, making it the dominant segment in the market. The market is growing as a result of an increase in the number of clinical studies carried out by pharmaceutical companies and their investments in research and development. Research and technological advancement are also the primary driving forces in the market. With 28% of the market share in 2021, the biological sector is the second-largest in the market. Additionally, it is projected that during the forecast period, this segment would increase at the highest CAGR.
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Regional Insights:
- North America: Dominates the market with the largest share, driven by the high number of clinical trials conducted by pharmaceutical companies. The U.S. leads in clinical trial operations, with substantial investments in medical R&D.
- Asia Pacific: Expected to grow at the highest CAGR, supported by access to a large patient pool, lower recruitment costs, and favorable policies. Technological development and the emergence of new diseases contribute to market growth.
- Europe: Rapid growth is anticipated, with easy accessibility to new technology driving advancements in logistics services. The region has witnessed significant growth, with companies offering innovative services like direct-to-patient deliveries.
Key Players:
2. UDG Healthcare
3. DHL
4. FedEx
5. Movianto
6. Packaging Coordinators Inc.
7. Thermo Fisher Scientific (Patheon)
8. Catalent, Inc.
9. Parexel
10.Almac Group
11.Marken
12.Merck & Co. Inc.
13.GlaxoSmithKline plc
14.SK Bioscience
15.TransMotion Medical Inc.
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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