Latest News- Clinical Trial Supplies Market: Pharmaceutical industry is expected to lead the End-user segment during 2024-2028

The Clinical Trial Supplies Market is being driven by Growth of biopharmaceutical industry

The Clinical Trial Supplies Market is expected to grow at a CAGR of 8.65% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1312.9 million. In the pharmaceutical industry, outsourcing clinical trial processes to Contract Research Organizations (CROs) has become a preferred business strategy for many product manufacturers and drug discovery companies. This trend enables these firms to allocate resources towards research and development (R&D) while minimizing operational costs. The growing preference for outsourcing has resulted in an escalating number of CROs, a trend that is anticipated to persist throughout the forecast period. In developed countries, the high operational costs associated with establishing and maintaining in-house research facilities have deterred several companies from investing in R&D. To mitigate this challenge and optimize costs, subcontract laboratories are increasingly conducting research and testing on behalf of these companies, thereby driving innovation and fostering growth in the clinical trial supplies market. 

Get more information on Clinical Trial Supplies Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Pharmaceutical industry
  • Biologics industry
  • Medical device industry
• Type
  • Phase III
  • Phase II
  • Phase IV and BE/BA studies
  • Phase I
• Service
  • Manufacturing
  • Packaging and Labeling
  • Storage and Distribution
  • Comparator Sourcing
  • Ancillary Supplies
  • Others
• Therapeutic Area
  • Oncology
  • Cardiovascular Diseases
  • Neurology
  • Infectious Diseases
  • Metabolic Disorders
  • Others
• Distribution Channel
  • Direct-to-Site
  • Depot-to-Site
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Asia
    • China
    • Japan
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growth of biopharmaceutical industry
• Government initiatives on clinical research
• Regulation of clinical trials in regional markets

However, the market also witnesses some limitations, which are as follows:

• High cost of clinical trials
• Limited approval of clinical trials by FDA in international market
• Data collection and sampling of clinical trials

Benefits of Buying Global Clinical Trial Supplies Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Clinical Trial Supplies Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Clinical Trial Supplies Market is influenced by various factors including the buying behavior of key stakeholders, the prevalence of diseases, regulatory support, industrial collaborations, and drug development. With an increasing number of registered clinical trials for new drugs in therapeutic areas like Oncology, Cardiovascular disease, Biologics, Medical devices, Pharmaceutical drugs, and Biological drugs, Clinical Research Organizations play a crucial role in conducting Clinical Trials on subjects with high follow-up rates. The distribution of sensitive clinical trial supplies, such as cold chain distribution for Cancer treatments, is also a significant aspect of this market. Drug approval processes and the prevalence of diseases like Cancer drive the demand for clinical trial supplies.

Market Research Overview

The Clinical Trial Supplies Market is a significant segment of the larger Life Sciences Tools and Services Market, encompassing companies and products involved in the research and development (R&D) of various categories, including biologics, biosimilars, blood products, and consumables. This market also includes life sciences-related services such as contract research, manufacturing, and sales. According to Technavio, the global healthcare market size is determined by the consolidated revenue generated by manufacturers of equipment, pharmaceuticals, biotechnology, and life sciences tools and services. Factors driving market growth include the increasing prevalence of chronic diseases, such as cancer and cardiovascular diseases, and the rising number of cancer cases due to an aging population and increased disease awareness.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/