Visiongain has published a new report entitled the Clinical Trials Supply and Logistics Market from 2021-2031. It includes profiles of Clinical Trials Supply and Logistics and Forecasts Market Breakdown by Type (CTS Manufacturing, CTS Logistics & Distribution, CTS Solutions, CTS Packaging & Storage) Market Breakdown by CTS Manufacturing (Investigational Medicinal product (IMP), Medical Devices, Powder Blending & Tableting, Test Kits, Ancillary Products, Other CT Materials Manufacturing) Market Breakdown by CTS Logistics & Distribution (Biological Samples, Medical Devices Transport, Point-of-Care Devices, Bedside Diagnostics, Ancillary Supplies) Market Breakdown by CT Solutions (Comparator Sourcing, Demand Calculation, Supply Forecast, Inventory Management) Market Breakdown by CTS Packaging & Storage (Packaging, Labelling, Stability Storage, Randomization and Blinding, Return and Reconciliation, Others) Market Breakdown by Phase (Pre-Clinical Phase, CT Phase I, CT Phase II, CT Phase III, CT Phase III-IV, Post Launch) Market Breakdown by DTP Model (Depot-to-Patient Model, Site-to-Patient Model, Direct-From-Patient Model, Hybrid Model) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
Visiongain’s lead expert says: ‘The global clinical trial supply & logistics market is estimated to be valued at US$15,678 million in 2021 and is projected to reach at a market value of US$27,541.3 million by 2031’.
Pharmaceutical and bio-pharmaceutical companies are entering into strategic agreements for better distribution channels and better reach to customers, as well as outsourcing clinical trial supply and logistics to CROs, with the goal of increasing profit margins and expanding their product portfolio to new markets. For better market reach, many companies expanding into developing geographies outsource supply and logistics services to supply and logistics service providers.
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How has COVID-19 had a significant negative impact on the Clinical Trials Supply and Logistics Market?
The pandemic disturbed the supply chain of the clinical trial, creating a shortage of clinical trial supplies. The logistical challenges involved in transport of auxiliary supply to different parts of the world have also resulted from lockdown. Sponsored alternatives in Asian (such as India) and Middle East are being provided by global testing logistics companies from their supply bases. In contrast, there was an increase in the demand for clinical trials because of the pandemic as the number of clinical studies was increasing. Premier providers for cold chain clinical trials have experienced revenue growth because of commercial agreements with top pharma companies.
How this Report Will Benefit you?
Visiongain’s 600+ page report provides 393 tables and 383 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global clinical trials supply and logistics market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Clinical Trials Supply and Logistics. Get the financial analysis of the overall market and different segments including type, media, application, gas type and capture higher market share. We believe that high opportunity remains in these fast-growing clinical trials supply and logistics market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits soon. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the current market drivers?
Increased R&D investments and government support expanded the research possibilities.
Increased R&D investments and government support expanded the research possibilities. The amount of money spent on R&D by pharmaceutical companies is determined by the expected revenue from a new drug, the expected cost of developing that drug, and policies that influence drug supply and demand. The expected lifetime global revenues of a new drug are determined by the prices that companies expect to charge for the drug in various markets around the world, the volume of sales they expect at those prices, and the likelihood that the drug development effort will be successful.
Globalization of Clinical Trials
Pharma companies are conducting clinical trials, particularly phase III clinical trials, in various geographies because of the globalization of clinical trials, including the fast-growing Eastern Europe, China, Korea, and Taiwan. As a result, there has been an increase in the planning and sourcing of ancillary materials. Clinical research has recently become more globalized, with many of these studies being conducted on a global scale and a significant increase in clinical trials in developing countries.
Where are the market opportunities?
Virtual Trials and Technology Are Gaining Acceptance Among Patients And Sites
Patients and sites accept virtual tests and technology, and patients adapt properly during the pandemic. Older adults are more acceptable as technology in their daily lives is being used to make them more comfortable. As a result, patients have clear data, regular healthcare staff support, and shorter appointments that can be arranged outside working hours. As a result, all stakeholders benefit from improving the experience of the patient, which leads to more adherence to the study protocol. In addition, it is useful to implement a patient involvement platform that maintains high motivation, because up to 40% of patients are estimated to drop out of clinical trials before the end date.
Clinical Supply Chain Optimization Will Be a High Growth Market in Coming Years
Digital innovation in clinical trials and renewed focus on home production will ensure a high growth market for supply chain optimization. There is no central platform in the clinical trial supply chain for the house inventory and orders, foresee patient inventory requirements, and manage the distribution of test samples to the appropriate laboratory sides, creating an ineffective and painful trial sponsoring process.
The major players operating in the clinical trials supply and logistics market are Catalent, Inc., Thermo Fisher Scientific Inc., UDG Healthcare PLC, Infosys Limited, PRA Health Sciences, Inc., Eurofins Scientific SE, United Parcel Service, Inc. (UPS), FedEx Corporation (FedEx), Kerry Logistics Network Limited, Kuehne und Nagel International AG, Bilcare Limited, Mayne Pharma Group Ltd, Intertek Group PLC, The Almac Group, Parexel International, Biocair, PCI Services, Lonza’s Capsules & Health Ingredients (CHI), Movianto (Walden), These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch. For instance, in Feb, 2021, Thermo Fisher Scientific Inc., completed its previously announced acquisition of Mesa Biotech, Inc., a privately held point-of-care molecular diagnostic company.
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