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Clinical Trial Kits Market Size (2022 - 2030) Expected to Reach USD 2.85 Billion by 2030, at 8.3% CAGR Rise

06-10-2022 03:54 PM CET | Health & Medicine

Press release from: Polaris Market Research & Consulting

Clinical Trial Kits Market Size (2022 - 2030) Expected to Reach

According to the research report, the global clinical trial kits market was valued at USD 1.42 billion in 2021 and is estimated to reach USD 2.85 Billion by 2030, growing at a CAGR of 8.3% during the forecast period.

The major factors driving the global market include the globalization of clinical trials and rising clinical trial complexity. Remote medical trial services are becoming an essential part of patient satisfaction, safety, and retention. At present, pharmaceutical companies are partnering with global logistics partners in order to provide direct-to-patient services.

The logistics segment is leading the global industry in 2021. This huge market share can be attributed to the growing demand for services in order to simplify the overall logistics process in medical tests. Additionally, pharmaceutical companies are partnering up with global logistics companies in order to provide remote services. This is anticipated to drive the growth of the segment over the coming years.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)

Based on Phase, the phase III segment is anticipated to dominate the industry in 2021. The basic objective of Phase III is to validate the safety and efficacy of a new medicine or vaccine, confirm the dosage levels, and discover the side effects. The number of clinical tests on humans increases in Phase III. Most of the medicines that passed phase II clinical trials generally fail in Phase III due to the side effects of therapeutic effectiveness.

The growing R&D investments along with the rapid technological advancements are further anticipated to drive the market growth. Alpha Laboratories designs, manufactures and assembles kits such as SpeciSafe packs, 95kPa pouchs, absorbents, Pastette, and others. These new products enable the market players to offer highly competitive pricing along with faster bespoke solutions where required. Additionally, Q2 Solutions offerings can help in Covid-19 clinical trial, as they offer innovative & technologically advanced solutions such as SARS-CoV-2 virus & antibody detection, SARS-CoV-2 viral genome analysis, immunologic profiling of humans, and vaccine neutralization testing. Thus, these innovative introductions may further support the industry demand across the globe.

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Market participants such as Alpha Laboratories, Brooks Life Science, Almac Group, Cerba research, Charles River Laboratories, Clinigen, LabConnect, Labcorp Drug Development, Marken a UPS company, Patheon, Precision Medicine Group, Q2 Solutions.

Various industry players are launching new products into the global clinical trial kit industry in order to expand. For instance, In April 2021, Parexel partnered with Veeva Systems in order to improve their medical test delivery and to enhance Veeva's cloud technology.

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Polaris Market research has segmented the clinical trial kits market report on the basis of service, phase, and region:

Clinical Trial Kits, Service Outlook (Revenue - USD Billion, 2018 - 2030)

Kitting Solutions
Drug kits
Sample collection kits
Logistics
Warehousing & Storage
Transportation
Others

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

Phase I
Phase II
Phase III
Phase IV

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About Us:
Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

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