What Is The Current and Historic Market Size Analysis Of The Clinical Trial Supply And Logistics Market?
The clinical trial supply and logistics market has seen considerable growth due to a variety of factors.
•Over the past few years, the market for clinical trial supply and logistics has seen substantial growth. The market, which was worth $4.72 billion in 2024, is projected to increase to $5.12 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%.
The past expansion can be credited to a surge in chronic disease cases, increased globalization of clinical trials, higher demand for innovative treatments, a rise in the number of clinical trials, and enhancements in healthcare infrastructure.
What Are The Predictions for The Clinical Trial Supply And Logistics Market Size In The Coming Years?
The clinical trial supply and logistics market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the clinical trial supply and logistics market is forecasted to witness sizable growth, with its value climbing to $7.26 billion by 2029, reflecting a 9.1% compound annual growth rate (CAGR).
Driving this predicted surge are factors such as the rise in personalized medicine demand, increase in clinical trials, the ascending prevalence of chronic diseases, greater emphasis on patient-centric trials, and a surge in the utilization of virtual trials. Some notable trends during this period are projected to be strategic partnerships among clinical trial supply and logistics firms, pharmaceutical corporations, and other key players, a climb in the outsourcing of clinical trial services, continuous technological innovation, escalated r&d expenses, and strict regulation adherence and quality assurance in clinical trial supply.
What Are The Essential Drivers Behind The Growth Of The Clinical Trial Supply And Logistics Market?
The growth of the clinical trial supply and logistics market is projected to be boosted by the rising number of clinical trials. These are research studies involving human participants to assess the safety and efficacy of newly developed medical treatments, interventions, or diagnostic techniques. The smooth functioning and successful execution of these research studies require the use of clinical trial supply and logistics for services including, but not limited to, providing biological specimen collection and delivery, investigational drugs and kits, expertise, and assistance with all permit applications and customs clearance. For example, ClinicalTrials.gov, a registry of clinical trials administered by the United States National Library of Medicine at the National Institutes of Health (NIH), reported an increase in registered clinical studies from 399,499 in 2022 to 437,533 by July 2023, spanning all 50 US states and 221 countries. Furthermore, 141,513 studies, or 31% of the total, are registered solely in the U.S., while 244,707 studies, representing 53% of the total, are registered in locations outside of the U.S. Consequently, the rising number of clinical trials is fueling the expansion of the clinical trial supply and logistics market.
How Is The Global Clinical Trial Supply And Logistics Market Divided Into Key Segments?
The clinical trial supply and logistics market covered in this report is segmented –
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
Subsegments:
1) By Logistics And Distribution: Transportation Management, Cold Chain Logistics, Customs Clearance, Inventory Management
2) By Storage And Retention: Controlled Storage, Long-Term Storage, Short-Term Storage
3) By Packaging, Labeling, And Blinding: Primary Packaging, Secondary Packaging, Label Design And Printing, Blinding Solutions
4) By Manufacturing: Clinical Supply Manufacturing, Batch Production, Quality Control And Assurance
5) By Comparator Sourcing: Sourcing Services, Regulatory Compliance, Inventory Management For Comparators
6) By Other Services: Regulatory Affairs Consulting, Clinical Trial Management, Data Management And Analysis, Training And Support Services
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What Trends Are Reshaping The Future Of The Clinical Trial Supply And Logistics Market?
Key players in the Clinical Trial Supply and Logistics Market are concentrating their efforts on technological advancements such as temperature-managed healthcare deliveries to boost the reliability and integrity of their merchandise during shipping. This aims at ensuring adherence to regulatory guidelines and enhancing patient outcomes. The term 'temperature-controlled healthcare shipments' is used to describe the transportation of medicinal products, pharmaceuticals, and biological materials that need to be kept under specific temperature conditions to retain their effectiveness and safety. The methodology involves the use of specialized packing, tracking systems, and logistic solutions to make sure the products are maintained within the required temperature parameters throughout their journey. For example, the FedEx Corporation, a transport company based in the USA, unveiled FedEx Life Science Center in February 2024. FedEx Customized Freight (FCF) was introduced for the shipping of essential pharmaceutical consignments. It came with features like priority boarding status, continuous custodial supervision, and delivery alternatives designed specifically to safeguard product integrity during transportation. Furthermore, clients can make use of FedEx Priority Alert Plus, which allows proactive tracking of time-critical deliveries with options for refilling dry ice or gel packs.
Who Are the Key Players in the Clinical Trial Supply And Logistics Market?
Major companies operating in the clinical trial supply and logistics market include:
• 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 Regional Insights into the Clinical Trial Supply And Logistics Market?
North America was the largest region in the clinical trial supply and logistics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the clinical trial supply and logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
