Global Clinical Trial Supplies Market 2018-2022
About Clinical Trial Supplies
Clinical trial supplies include products and services that streamline the logistics of clinical trials. The products and services include supply chain management and transportation of various biologics, pharmaceutical products, and medical devices.
Technavio’s analysts forecast the global clinical trial supplies market to grow at a CAGR of 6.94% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global clinical trial supplies market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Clinical Trial Supplies Market 2018-2022
Technavio recognizes the following companies as the key players in the global clinical trial supplies market: Almac Group, DHL, PAREXEL International, Thermo Fisher Scientific, and UPS.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing demand of CROs. Many pharmaceutical product manufacturers and drug discovery companies are preferring to outsource their clinical trial process to CROs. Outsourcing clinical trial processes help pharmaceutical companies focus on R&D and optimize their operational costs, which has led to the increase in the number of CROs. This increase in the number of CROs is likely to continue during the forecast period.”
According to the report, one driver in the market is growth of biopharmaceutical industry. The biopharmaceutical industry comprises biologics and pharmaceutical products, manufacturers, and suppliers growing at a steady pace. Biologics innovators, suppliers, and investors are excited about, growing and profitable industry.
Further, the report states that one challenge in the market is high cost of clinical trials. Clinical trials have changed over the years, and therefore, there has been a growing concern about the rising costs of clinical trials. Clinical trials for drugs are challenging and time consuming. The initial challenge is patient enrolment, which is followed by ensuring that patients do not drop out of the research study.
Thermo Fisher Scientific
Other prominent vendors