Clinical Trial Supplies Market - Forthcoming Trends to Boost the Global Industry Revenue

What This Report Will Provide:

This study involved four major activities in estimating the current size of the clinical trial supplies market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.

Expected Revenue Growth:

The clinical trial supplies market is projected to reach USD 2.5 billion by 2025 from USD 1.7 billion in 2020, at a CAGR of 7.8%.

Major Growth Boosters:

The increasing R&D expenditure in pharmaceutical and biopharmaceutical companies and the globalization of clinical trials & harmonization of regulations are the key factors driving the growth of this market.

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Recent Developments:

# In December 2019, Catalent launched the New CTSuccess Service to guide sponsors toward smarter clinical trial supply planning.
# In May 2019, Catalent completed the USD 1.2-billion acquisition of Paragon Bioservices, Inc., a leading viral vector development and manufacturing partner for gene therapies.
# In September 2019, Catalent announced that it would invest USD 9 million in a new clinical supply facility in San Diego, due to open in the summer of 2020.

North America is the largest regional market for clinical trial supplies

The global clinical trial supplies market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. North America is the largest regional market for clinical trial supplies, followed by Europe. The large share of the North American market can primarily be attributed to the presence of well-established CROs and the high and growing R&D expenditure by pharmaceutical and biopharmaceutical companies in the region.

Key Questions Addressed in This Study:

# Where will all these developments take the industry in the mid-to-long term?
# What are the recent trends affecting the market?
# Who are the key players in the market, and how intense is the competition?
# Which region is a lucrative market for clinical trial supplies?

Key Players:

The clinical trial supplies market is consolidated in nature. The prominent players operating in this market include Alamc Group (UK), Catalent, Inc. (US), PCI Services (US), Parexel International Corporation (US), Sharp Packaging Services (US), Biocair (UK), O&M Movianto (US), KLIFO A/S (Denmark), and Thermo Fisher Scientific, Inc. (US).

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