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Clinical Trial Supply and Logistics Market: Surge in Chronic Diseases and Clinical Trials Drives Market Growth
Clinical Trial Supply And Logistics Market Share
What Is The Projected Market Size Of The Global Clinical Trial Supply And Logistics Market And Its Growth Rate?
• Current market value: The global clinical trial supply and logistics market size grew to $4.72 billion in 2024.
• Projected growth: The market size is predicted to increase from $5.12 billion in 2025 at a CAGR of 8.4%.
• Key driver: This growth can be attributed to rising chronic diseases prevalence, globalization of clinical trials, and growing demand for novel therapies.
• Future prospect: Furthermore, the market size is projected to expand to $7.26 billion in 2029 at a CAGR of 9.1% driven by the increasing preference for personalized medicine, more clinical trials, patient-centric trials, and the continued use of virtual trials.
What Is Driving The Growth In The Clinical Trial Supply And Logistics Market?
The surge in the number of clinical trials translates to an increasing demand for clinical trial supply and logistics. Clinical trials evaluate the safety and effectiveness of medical treatments, interventions, or diagnostic procedures involving human participants. Clinical trial supply and logistics facilitate these studies by providing necessary materials and services. Remarkably, as of July 2023, clinical studies registered in the United States and across 221 countries reached 437,533, according to ClinicalTrials.gov. This significant increase from 399,499 in 2022 drives the growth of the clinical trial supply and logistics market.
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Who Are the Key Players Driving Clinical Trial Supply And Logistics Market Growth?
• United Parcel Service
• DHL Group
• FedEx Corporation
• Thermo Fisher Scientific Inc.
• IQVIA
• ICON plc
• Eurofins Scientific
• Catalent Inc.
• Intertek Group plc
• Parexel International Corporation
• UDG Healthcare PLC.
• Almac Group
• World Courier
• Piramal Pharma Solutions
• Sharp Clinical Services Ltd.
• Clinigen Group
• PCI Pharma Services
• Movianto Group
• Cold Chain Technologies
• Biocair International Limited
• QuickSTAT
• Wasdell Group
• Klifo A/S
• TrakCel
• Packaging Coordinators Inc.
• Biotec Services International Limited
• Proventa International
• Inceptua Group
What Are The Key Trends In The Clinical Trial Supply And Logistics Market?
Key trends in the clinical trial supply and logistics market include:
• Strategic collaborations between clinical trial supply and logistics companies, pharmaceutical companies, and other stakeholders.
• Rising outsourcing of clinical trial services.
• Technological advancements.
• Increasing research and development expenditure.
• Stricter regulatory compliance and quality assurance in clinical trial supply.
What Are The Segments Of The Global Clinical Trial Supply And Logistics Market?
1) By Service: Logistics And Distribution, Storage And Retention, Packaging Labelling And Blinding, Manufacturing, Comparator Sourcing, Other Services
2) By Phase: Phase I, Phase II, Phase III, Phase IV
3) By Area: Oncology, Cardiovascular Diseases, Respiratory Diseases, CNS And Mental Disorders, Other Areas
4) By End-User: Pharmaceuticals, Biologicals, Medical Device
Which Region Leads The Clinical Trial Supply And Logistics Market?
North America dominated the clinical trial supply and logistics market in 2024, and Asia-Pacific is forecasted to be the fastest-growing region. The clinical trial supply and logistics market report covers Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Clinical Trial Supply And Logistics Market Global Market Report?
- Market Size Analysis: Analyze the Clinical Trial Supply And Logistics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Clinical Trial Supply And Logistics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Clinical Trial Supply And Logistics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Clinical Trial Supply And Logistics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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