Clinical Trial Supplies Market to Reach $1.2 Billion Value by 2020

Clinical trial supplies global market is expected to reach $1,274.3 Million by 2020 from $904.3 Million in 2015, at a CAGR of 7.1% from 2015 to 2020. The global clinical trial supplies market consists of various products and services that are used in clinical trials also known as Medical Trials. This market is driven by several factors such as globalization of clinical trial activities, increasing R&D investments and government support, rising incidences of various diseases, and increasing expansion activities by CROs. Increasing patent expiry, the development of generic drugs, and high potential growth in emerging markets are all factors that have opened an array of opportunities for the market.

The statistics are evaluated by the report “Clinical Trial Supplies Market by products & Services (Logistics & Distribution, Manufacturing, Packaging and Labeling), Phases (Phase I, Phase II, Phase III) & Therapeutic Areas (CNS & Mental Disorders, Cardiovascular, Oncology) - Global Forecast to 2020” provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the clinical trial supplies market along with the estimates and forecasts of the revenue and market share analysis.

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The report segments this market based on products and services, phases, therapeutic areas, and regions. Among the various products and services, the logistics and distribution services segment is expected to account for the largest share of the market and is projected to grow at the highest CAGR from 2015 to 2020. The high growth in this segment can be attributed to the factors such as globalization of clinical trials and increasing outsourcing of services.

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On the basis of phases, the clinical trial supplies market is segmented into phase I, phase II, and phase III. The phase III segment is expected to account for the largest share of the global clinical trial supplies market in 2015. Large sample size of patients and high cost of phase III trials are the factors propelling the growth of this market.

Therapeutic areas, included in the clinical trial supplies market are oncology, cardiovascular diseases, respiratory diseases, CNS and mental disorders, dermatology disorders, blood disorders, infectious diseases, and others. The oncology segment is expected to account for the largest share of the global clinical trial supplies market in 2015. Increase in cancer incidences and government funding for cancer research are factors driving the growth of this market.

Based on regions, the global clinical trial supplies market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to account for the largest share of the market during the forecast period. Growth in this regional segment is driven by factors such as rising prevalence of chronic diseases, growing number of clinical trials, and the increasing number of life sciences research activities in North America.

Key players in the clinical trial supplies market include Alamc Group LTD (U.K.), Biocair (U.K.), Catalent Pharma Solutions, Inc. (U.S.), KLIFO A/S (Denmark), Movianto (Germany), PCI Services (U.S.), Patheon, Inc. (U.S.), PAREXEL International Corporation (U.S.), Sharp Packaging Services (U.S.), and Thermo Fisher Scientific, Inc. (U.S.)

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