Clinical Trial Supplies Market Estimated to Experience a Hike in Growth by 2027

According to The Insight Partners market research study of 'Clinical Trial Supplies Market to 2027 - Global Analysis and Forecasts by Product & Service, Stage, Drug Type, and Application.' The global clinical trial supplies market is expected to reach US$ 3,298.91 Mn in 2027 from US$ 1,867.44 Mn in 2019. The market is estimated to grow with a CAGR of 7.4% from 2020-2027. The report provides trends prevailing in the global clinical trial supplies market and the factors driving market along with those that act as hindrances.

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The clinical trial supplies market is anticipated to increase, owing to factors such as increasing pharmaceutical and biopharmaceutical R&D expenditures and an increase in the number of clinical trials. Moreover, growing opportunities in developing nations are likely to have a positive impact on the growth of the market in the coming years.

Competitive Landscape: Clinical Trial Supplies Market: Catalent, Inc., Thermo Fisher Scientific, Inc. Almac Group, Parexel International Corporation, Biocair, UDG Healthcare plc (Sharp), PCI Healthcare Services, Owens & Minor Inc., KLIFO, Rubicon Research

The global clinical trial supplies market, based on the product & service, is segmented into logistics & distribution, manufacturing, and packaging & labelling. The logistics & distribution segment held the largest share of the market in 2019. The same segment is estimated to register the highest CAGR in the market during the forecast period as the increasing adoption of this method due to the extended range of advantages. Moreover, the globalization of clinical trials and the growing number of clinical trials involving temperature-sensitive products are anticipated to drive the growth of the segment during the forecast period.

To comprehend global Clinical Trial Supplies market dynamics in the world mainly, the worldwide market is analyzed across major global regions: North America (United States, Canada and Mexico), Europe (Germany, France, United Kingdom, Russia and Italy), Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia), South America (Brazil, Argentina), Middle East & Africa (Saudi Arabia, UAE, Egypt and South Africa)

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