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On-Going Growth in the Biologics Market is a Major Breakthrough for the Global Clinical Trial Supplies Industry

This study involved four major activities in estimating the current size of the clinical trial supplies market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.

Major Objectives of This Study:

To define, describe, and forecast the market on the basis of service, phase, drug type, therapeutic area, and region.
To provide detailed information regarding the major factors influencing the growth of the market
To strategically analyze micromarkets with respect to their individual growth trends, future prospects, and contributions to the overall market.
To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
To forecast the size of the market segments with respect to four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World.
# To profile key market players and comprehensively analyze their product portfolios, market positions, and core competencies.
To track and analyze competitive developments such as acquisitions, new product launches, expansions, agreements, partnerships, collaborations, and R&D activities in the clinical trial supplies market.

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Recent Developments:

# In December 2019, Catalent launched the New CTSuccess Service to guide sponsors toward smarter clinical trial supply planning.
# In May 2019, Catalent completed the USD 1.2-billion acquisition of Paragon Bioservices, Inc., a leading viral vector development and manufacturing partner for gene therapies.
# In September 2019, Catalent announced that it would invest USD 9 million in a new clinical supply facility in San Diego, due to open in the summer of 2020.

Factors Influencing Global Growth:-

The increasing R&D expenditure in pharmaceutical and biopharmaceutical companies and the globalization of clinical trials & harmonization of regulations are the key factors driving the growth of this market.

Increasing Cost of Drug Development and Clinical Trials

Patent Expiration
Emerging Markets
Growth in the Biologics Market

Key Questions Addressed by the Report; 

Where will all these developments take the industry in the mid-to-long term?What are the recent trends affecting the market?
# Who are the key players in the market, and how intense is the competition?
Which region is a lucrative market for clinical trial supplies?

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Monetary Growth Expectations, Globally:

According to the Research Study conducted by MarketsandMarkets™: The clinical trial supplies market is projected to reach USD 2.5 billion by 2025 from USD 1.7 billion in 2020, at a CAGR of 7.8%.

Geographical Growth Scenario 

The global clinical trial supplies market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. North America is the largest regional market for clinical trial supplies, followed by Europe. The large share of the North American market can primarily be attributed to the presence of well-established CROs and the high and growing R&D expenditure by pharmaceutical and biopharmaceutical companies in the region.

Leading Market Players:
# Alamc Group (UK)|
Catalent, Inc. (US)
PCI Services (US)
Parexel International Corporation (US)
Sharp Packaging Services (US)
Biocair (UK) and many more…

Catalent, Inc. (US) is the leading player in the global clinical trial supplies market. The company has an extensive network that provides comprehensive services to various pharmaceutical companies for phase I–IV clinical trials. Catalent’s offerings in the clinical trial supplies market include forecasting and planning services, packaging services, comparator sourcing, and distribution and logistics services.

Almac Group (UK) is another major player in the global clinical trial supplies market. The company offers a wide range of services, from research through pharmaceutical and clinical development to the commercialization of products.

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on March 23 at 5:51

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