Press release
Clinical Trials Manufacturing and Supply Outsourcing Market Report on the Untapped Growth Opportunities in the Industry
According to the latest research by InsightAce Analytic, the Global Clinical Trials Manufacturing and Supply Outsourcing Market is expected to show a CAGR of 7.28% during a forecast period of 2023-2031.
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Clinical trials manufacturing and supply outsourcing involves a strategic collaboration between pharmaceutical and biotechnology firms and specialized contract manufacturing organizations (CMOs) or contract development and manufacturing organizations (CDMOs). The market is primarily driven by the increasing number of clinical trials, regulatory harmonization, rising research and development investments from pharmaceutical and biotech companies, and advancements in supply chain technologies. Outsourcing these services is becoming increasingly common as the costs associated with clinical studies continue to rise. Moreover, the rapid growth of biotechnology has led to a surge in biopharmaceutical-related clinical trials, creating new opportunities in the global market. Biotech companies require specialized supplies tailored for biologics and cell therapies, further driving the demand for outsourcing services.
Additionally, the emergence of patient-centric clinical trials, which prioritize enhancing the patient experience and engagement, has led to the demand for innovative supply solutions. These include home-based trials, remote monitoring, and direct-to-patient delivery services. As personalized medicine and precision therapies gain traction, the need for tailored clinical trial supplies-aligned with individual patient profiles-has further fueled the demand for customized supply solutions.
List of Prominent Players in the Clinical Trials Manufacturing and Supply Outsourcing Market:
• Catalent
• Parexel
• Almac Group Limited
• Patheon
• Thermo Fischer Scientific
• Klifo
• Movianto
• Eurofins Scientific
• Clinigen
• Spaulding Clinical
• Singota
• Symeres
• Ardena
• Others
Market Dynamics:
Drivers-
Chronic diseases, driven by the ever-growing global population and rising infections, pose a significant burden on healthcare systems, and play a crucial role in drug development clinical trials. For a drug to be approved for human use, it must successfully navigate all standard clinical trial phases, ensuring its safety for treating these long-term illnesses. The increasing prevalence of chronic conditions such as HIV, cancer, and epilepsy has spurred growth in the clinical trial supply market. This sector is further bolstered by the growing focus on evaluating toxicity levels in the early stages of drug development, along with an increasing demand for outsourced drug discovery services.
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Challenges:
A major challenge facing the global clinical trial supply market is the rising cost of clinical trials. The need for more extensive clinical data collection has significantly contributed to the escalating costs. This, combined with the high research and development expenses once a clinical trial is approved, represents a considerable obstacle to market growth. Additionally, there are other emerging trends and challenges, including regulatory hurdles and the complexity of global trials, that may impact the industry.
Regional Trends:
North America is projected to hold a significant share of the Clinical Trials Manufacturing and Supply Outsourcing Market, with strong growth expected in the coming years. The global expansion of clinical trials and substantial investments in research and development (R&D) are key factors driving the growth of this market in North America. The region benefits from a high concentration of Contract Research Organizations (CROs) and an increasing number of registered clinical trials. Major players like Pfizer, Abbott Labs, and Johnson & Johnson dominate the market in this region. Looking ahead, the Asia Pacific region is expected to experience substantial growth, fueled by the increasing number of healthcare corporations conducting clinical trials, favorable government regulations, and the availability of affordable treatments. The region is set to emerge as one of the fastest-growing markets for clinical trial supplies.
Recent Developments:
• In Sept. 2023, The recent partnership between Thermo Fisher Scientific, Inc. and the National Minority Quality Forum (NMQF) through the NMQF's Alliance for Representative Clinical Trials (ARC) aims to facilitate access to clinical research for patient populations that have been historically underserved.
• In May 2020, Teva-Takeda Pharmaceuticals, Nagoya Aichi, Japan, and Catalent have reached an agreement for the acquisition of a clinical packaging facility in Minakuchi, Shiga prefecture... A new clinical GMP manufacturing and distribution centre will be established through this acquisition in order to support clinical studies.
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Segmentation of Clinical Trials Manufacturing and Supply Outsourcing Market-
By Service Type-
• Manufacturing
• Logistics & Distribution
• Storage & Retention
• Others
By Phase Type-
• Phase-I
• Phase-II
• Phase-III
• Phase-IV
By End-User-
• Pharmaceutical Companies
• Biotechnology Companies
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.JPG
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