Industry Outlook and Trend Analysis
The Clinical Trial Supply and Logistics Market was worth USD 8.96 billion in 2014 and is expected to reach approximately USD 17.99 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 8.05% during the forecast period. Clinical trial supply and logistic is an administration that provides clinical supplies that are required for to clinical investigations of medical devices or drugs as per convention and applicable regulatory prerequisites. This procedure includes oversight of the packaging, labeling, planning, forecasting, distribution, sourcing, and clinical supplies for government and commercial sponsors whose reviews are in stage 1-4 clinical trials. Clinical trial suppliers incorporate with numerous outsider merchants and specialists to check whether contemplate drugs accessible are in adequate amount and quality at different phases of clinical distribution. This administration, based on drug supply, offers full traceability from production to dispensation and demolition, which thusly lessens risks, for example, lapse or out of stock of products.
Drivers and Restraints
The developing administrative concerns with respect to the conduction of a clinical trial are altogether driving the clinical trial and logistic market. In addition, the advancement of new drug and medicinal devices are likewise expanding which is further supplementing the development of the market. At the same time, the expanding accentuation by the makers towards limiting overage and averting shortage, upgrading packaging and production, and adjusting shipment and supply costs are expanding the interest for productive solutions for clinical trial supply and logistics.
The Clinical Trial Supply and Logistics Market is segmented on the basis of service and end user. Based on service the market is segmented into Packaging and Labeling, Manufacturing, and Distribution. On the basis of end user the market is segmented into Medical Devices, Pharmaceutical and Biologics out of which the Biologics segment is anticipated to encounter steady development, owing to developing research activities such as development of nanoparticle-based drug delivery systems in the stream of genetics and biotechnology.
Regional Outlook and Trend Analysis
Geographically, North America is anticipated to hold a prevailing position in this market, attributable to the selection of mechanically propelled products, well-developed administrative offices, and existence of significant Contract Research Organizations (CRO's) and biopharmaceutical organization's centers. Additionally, factors, for example, enhanced healthcare facilities and improved reimbursement situation are likewise driving development of clinical trial supply and logistics market in this district. The number of new merchants attempting to enter the healthcare industry is anticipated to increase over the estimate time frame in the region.
The leading players in the market are Almac, PAREXEL, Catalent, Biocair, PCI Pharma Distribution, KLIFO A/S, Movianto, Marken, Patheon and Sharp Packaging Distribution. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Clinical Trial Supply and Logistics Market is segmented on the basis of regions as follows-
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?