Global Clinical Trials Consumables Market 2017-2021
About Clinical Trials Consumables
Clinical trials are research studies that are undertaken to test a drug or a medical device before it is launched in the market. The data generated from these studies help with the approval of the tested drug or medical device. In clinical trials, endpoints are the key results that are expected from the study. Inclusion and exclusion criteria are points that define the scope of the research study. Typically, clinical trials are segmented into five phases, and each phase is as critical as the other.
Technavio’s analysts forecast the global clinical trials consumables market to grow at a CAGR of 5.81% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global clinical trials consumables market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of consumables to various end-users (government organizations, academic and research institutions, and university hospitals).
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Clinical Trials Consumables Market 2017-2021
Technavio recognizes the following companies as the key players in the global clinical trials consumables market: Eppendorf, Merck Millipore, PerkinElmer, and Thermo Fisher Scientific.
Other Prominent Vendors in the market are: Agilent Technologies, Bellco Glass, CRYSTALGEN, Camlab, Reagecon, Sartorius, Spectrum Chemical, and VITLAB.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is outsourcing of drug discovery and clinical trial processes. As pharmaceutical companies become increasingly focused on R&D and drug discovery, they have commenced the outsourcing processes such as drug discovery and clinical trials on a contractual basis to research laboratories. The number of such laboratories has been rising rapidly since 2011. This trend is most likely to continue during the forecast period.”
According to the report, one of the major drivers for this market is increased funding of clinical trials. The global pharmaceutical market is witnessing a surge in the funding to clinical research to combat various rare diseases and to explore new therapies for existing diseases. This has resulted in increased budgets by regulatory authorities in the leading economies of the world.
Further, the report states that one of the major factors hindering the growth of this market is recruitment and retention of patients for clinical trials. Regulatory organizations across the world encourage pharmaceutical and biotechnology companies to develop drugs, biologics, and medical devices that either fulfill an unmet medical need or launch drugs that contain new chemical entities. These organizations grant market exclusivity to the company for the drug. This prevents other companies from submitting new applications for similar drugs.
Eppendorf, Merck Millipore, PerkinElmer, Thermo Fisher Scientific, Agilent Technologies, Bellco Glass, CRYSTALGEN, Camlab, Reagecon, Sartorius, Spectrum Chemical, and VITLAB.
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