Global Clinical Trial Supplies Market Growth 2024, Forecast To 2033
8 Mar, 2024
The clinical trial supplies market has witnessed substantial growth, advancing from $2.52 billion in 2023 to $2.75 billion in 2024, with a compound annual growth rate (CAGR) of 8.9%. This growth is driven by factors including the rising prevalence of chronic diseases and the increasing complexity of clinical trials. Forecasts suggest continued growth, with the market projected to reach $3.72 billion by 2028, growing at a CAGR of 7.8%. This growth is attributed to the globalization of clinical trials, the expansion of cell and gene therapy trials, and the rise of virtual and decentralized trials, accompanied by trends such as the integration of artificial intelligence and predictive analytics.
Global Clinical Trial Supplies Market Key Driver
The increasing number of registered clinical trials is projected to propel growth in the clinical trial supplies market. With a significant increase in registered clinical trials, there is a growing demand for pharmaceuticals, medical devices, and other essential materials to support the research process.
Get A Free Sample Of The Global Clinical Trial Supplies Market ReportGlobal Clinical Trial Supplies Market Segments
The clinical trial supplies market covered in this report is segmented –
1) Services:Logistics And Distribution, Storage And Retention, Supply Chain Management, Packaging, Labeling, And Blinding, Manufacturing, Comparator Sourcing
2) Clinical Phases:Phase I, Phase II, Phase III, Phase IV
3) Therapeutic Use:Oncology, Central Nervous System (CNS), Cardiovascular, Infectious Disease, Metabolic Disorders, Other Therapeutic Uses
4) End User:Pharmaceutical And Biotech companies, Contract Research Organization (CRO), Medical Device Companies
By Geography: The countries covered in the clinical trial supplies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the clinical trial supplies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the clinical trial supplies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Clinical Trial Supplies Industry Players
Thermo Fisher Scientific Inc.; IQVIA; Eurofins Scientific SE; Parexel International Corporation; ICON PLC; Catalent Inc.; Intertek Group PLC; Recipharm AB; World Courier; Almac Group Ltd.; Piramal Pharma Solutions; Clinigen Group PLC; Movianto GmbH; Marken Limited; PCI Pharma Services; Rubicon Research Private Limited; Bionical Ltd.; Durbin PLC; SIRO Clinpharm Pvt. Ltd.; Biocair International Ltd.; Ancillare LP.; Myonex; Klifo A/S; Alium Medical Limited; ADAllen Pharma; Sharp Services LLC
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Clinical Trial Supplies Market Overview
Clinical trial supplies refer to the materials, products, and equipment used during clinical trials. Clinical trial supplies play a crucial role in the successful execution of clinical trials by providing the necessary resources for testing and evaluation.