The global clinical trial supplies market is likely to boost due to increasing R&D expenditure, rising government funding for clinical trials, and an increase in the burden of diseases.

The global clinical trial supplies market size is projected to reach USD 4,843.55 million by 2027, growing at a CAGR of 7.8% during the forecast period, 2020-2027. It is due to the technological advancements in the clinical trial supply chain process and the increasing number of patent expiration. Further, the rising number of biosimilar drugs in trials and growth in the biologics pipeline will augment the growth of the clinical trial supplies industry in the forecast periods. Additionally, the rising need to increase operational efficiency and increasing pressure to cut down R&D costs is expected to foster global market growth. The development of innovative drug delivery systems and increasing usage of clinical trial supplies for the treatment of HIV and cancer will bolster the growth of the global clinical trial supplies market share in the coming years. Moreover, the government's intervention for improving healthcare infrastructure, the growing need for determining the level of toxicity in the early stages of drug discovery, and the emerging trend of contract research organizations will stimulate the market share. Furthermore, the increasing R&D expenditure in pharmaceutical & biopharmaceutical companies, rising incidence of chronic diseases, and the increase in people's medical consumption will accelerate the growth of the global clinical trial supplies industry.

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Service Overview in the Global Clinical Trial Supplies Market

Based on the service, the global clinical trial supplies market is segregated into manufacturing, packaging, labeling, and blinding, comparator sourcing, logistics, distribution, storage, and retention and solutions. The logistics segment is estimated to witness the highest growth over the analysis timeframe due to the rising number of biologics and temperature-sensitive drugs.

Phase Overview in the Global Clinical Trial Supplies Market

Based on the phase, the global clinical trial supplies market is categorized into Phase I, Phase II, Phase III, Phase IV, and BA/BE studies. The Phase III segment held for a significant market share in 2019 and will gain maximum market revenue by 2027. It is attributable to the high level of complexity and the increased number of patients in phase III compared to all others trial phases. In addition, in this phase, the failure rate is the highest as the sample size and study design require complex dosing at an optimum level.

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Therapeutic Area Overview in the Global Clinical Trial Supplies Market

Based on the therapeutic area, the global clinical trial supplies market is classified into oncology, neurological and mental disorders, infectious and immune system diseases, digestive system diseases, blood disorders, and other therapeutic areas. The oncology segment is expected to be the highest revenue share for clinical trial supplies during the forecast period. The segment's growth is primarily due to the rising prevalence of cancer, growing demand for personalized medicines, and the increasing number of new treatments and therapies that drive the growth of the clinical trial materials and supplies market. Besides, oncology drugs require temperature-sensitive distribution that drives the demand for cold chain distribution.

Drug Type Overview in the Global Clinical Trial Supplies Market

The global clinical trial supplies market is segmented into small-molecule drugs and biologic drugs based on the drug type. However, the biologics segment will dominate the global clinical trial supplies market by 2027. It is due to the rising demand for biologics in both emerging and developed countries and the increasing number of biosimilar drugs in trials.

Region Overview in the Global Clinical Trial Supplies Market

The global clinical trial supplies market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa by geography. However, North America is estimated to project considerable growth over 2020-2026. It is owing to the presence of a greater number of clinical trial supply players, rising investments in R&D by pharmaceutical and biopharmaceutical companies, and a diverse patient population.

Global Clinical Trial Supplies Market: Competitive Landscape

Companies such as DHL, Parexel, Thermo Fisher Scientific Inc., Almac Group Ltd., Catalent Pharma Solutions Inc., PCI Services, Sharp Clinical, Biocair, O&M Movianto, KLIFO A/S, Capsugel, and UDG Healthcare Plc are the key players in the global clinical trial supplies market.

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