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Global Clinical Trial Supply & Logistics market is projected to grow at a CAGR of 8.06% by 2032: Visiongain Reports Ltd

·9-min read
Visiongain Reports Ltd
Visiongain Reports Ltd

Visiongain has published a new report entitled Clinical Trial Supply & Logistics 2022-2032. It includes profiles of Clinical Trial Supply & Logistics and Forecasts Market Segment by Type, (CTS Manufacturing, CTS Logistics & Distribution, CT Supply Chain Management, CTS Packaging & Storage) , Market Segment by End-User, (CRO’s, Pharma & Biotech, Other End-User), Market Segment by CT Supply Chain Management, (Comparator Sourcing, Demand Calculation, Supply Forecast, Inventory Management) Market Segment by CTS Logistics & Distribution, (Biological Samples, Medical Devices Transport, Point-of-Care Devices, Bedside Diagnostics, Ancillary Supplies) Market Segment by CTS Manufacturing, (Investigational Medicinal Product (IMP), Medical Devices, Powder Blending & Tableting, Test Kits, Ancillary Products, Other CT Materials Manufacturing) Market Segment by CTS Packaging & Storage, (Packaging, Labelling, Stability Storage, Randomization and Blinding, Return and Reconciliation, Others) Market Segment by Phase, (Pre-Clinical Phase, CT Phase I, CT Phase II, CT Phase III, CT Phase III-IV, Post Launch) Market Segment by Phase 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.

The Global Clinical Trial Supply & Logistics market was valued at US$20.0 billion in 2021 and is projected to grow at a CAGR of 8.06% during the forecast period 2022-2032.

Virtual Trials and Technology Are Gaining Acceptance among Patients and Sites

The COVID-19 pandemic has encouraged the uptake and support of telemedicine and AI technology for conducting decentralized clinical trials. Older adults are more willing to adopt these newer technologies in their daily lives as it is aiding them to have a comfortable lifestyle. The clinical trial participants 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, patient involvement platforms help to maintain high motivation among participants, since 40 percent of patients are estimated to drop out of clinical trials before the end date. The hybrid trials have further disrupted the existing complex supply chain and logistics with the provision of clinical drug products delivered to patient homes i.e. depot-to-site shipments. Thus, embracing mHealth modules such as sensors, and phones by logistic players will drive the market growth

AI and Machine Learning are Evolving with More Data

Artificial Intelligence (AI) is allowing medical data to be collected and computed in previously unimaginable ways. Patients may now share more data upfront, and systems can analyse data almost instantly, thanks to chat bots, decision support systems, and connected biosensors. Machine learning algorithms for text and visual data may be able to diagnose patients more accurately than traditional doctors. Blockchain, the same technology that underpins the cryptocurrency Bitcoin, has the potential to empower people to share and control their personal data.

Download Exclusive Sample of Report @

https://www.visiongain.com/report/clinical-trial-supply-market-2022/#download_sampe_div

How has COVID-19 had a significant impact on the Clinical Trial Supply & Logistics Market?

The COVID-19 pandemic has made a positive impact as in many ways it accelerated the interest in and use of decentralized clinical trials (DCT). The clinical trial industry needs patient burden however it gets frequently reduced when choosing a decentralized clinical trial design. Decentralized and hybrid trial models need more adaptable supply chains to handle their many shifting demands than traditional clinical trials need. It is a challenging task to uphold consistency when you are simultaneously serving the needs of sites, patients, decentralized, and sponsors. Excellent performance becomes even more challenging when dealing with the increased variables of decentralized trials.

Setting up a flexible clinical supply chain solution that can manage the challenges of decentralized distribution and making use of a central depot model is crucial to lowering the risk of deliveries being delayed. The most likely supply chain to be able to adjust to disruptions is one that integrates data collection, management, transportation, and home healthcare services. The importance of ensuring trial participants' safety cannot be overstated. Supply chain partners must deliver, distribute, and retrieve clinical trial supplies and sensitive biological materials directly to and from the patient's location, essentially expanding the trial's global reach, in order to establish the benchmark in the clinical supply chain for DTP/DFP services and COVID-19 has just opened new avenues to overcome these logistical challenges.

How will this Report Benefit you?

Visiongain’s 440-page report provides 181 tables and 190 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses of the global clinical trial supply & logistics market, along with a detailed segment analysis of the market. Our new study will help you evaluate the overall global and regional market for clinical trial supply & logistics. Get the financial analysis of the overall market and different segments including type, phase, end-user, CT Supply Chain Management, CTS Logistics & Distribution, CTS Manufacturing, CTS Packaging & Storage, DTP Model, and company size, and market share analysis. We believe that there are strong opportunities in this fast-growing clinical trial supply & logistics market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximize the productivity of the company.

What are the Current Market Drivers?

Clinical trial supply and logistics are evolving at an increasing rate

Clinical drug supply is now essential to the success of clinical trials because of their growing volume, shortened turnaround times, and complexity. It is possible to avoid the chance that the supply of therapeutic drugs may become a bottleneck for effective drug delivery by raising it to best-in-class levels. However, it can also have significant advantages, such as improved investigator and patient experiences, one to two-year shorter medication launches, and cost reductions of 15% to 20% in clinical drug supply.

Spending on research and development in the pharmaceutical business has accelerated due to the rapid expansion of clinical trials, and accounted to be reach US$ 200 billion as compared to US$137 billion in 2012. A total of 362,500 clinical trials were registered in 2021 and they increased to 399,522 in 2022. Out of the total clinical trials of 2022, approximately 330,122 interventional clinical trials were registered for the same year. Expectations for shorter durations have increased due to the COVID-19 vaccines' quick development, and the pandemic has hastened the transition to decentralised testing. New patient-centric approaches and increasingly sophisticated, global, and adaptable studies are additional complexity requirements for clinical drug delivery propelling demand for well-planned supply chain logistics for clinical trials.

Big Companies Are Driving the Market

Patients can share data immediately through their smartphone with tools like Apple's Research Kit, which is altering the clinical trial landscape. As billions more people acquire smartphones, the number of people who can be recruited climbs dramatically, while the cost of doing so decreases dramatically. Google is also quickly pushing into the field with the Verily Study Watch, where it has initiated project baseline, a four-year longitudinal observation study that will collect, organise, and analyse broad phenotypic health data from about 10,000 individuals.

Get Detailed TOC @

https://www.visiongain.com/report/clinical-trial-supply-market-2022/#download_sampe_div

Where are the Market Opportunities?

Globalization of Clinical Trials

Pharma companies are conducting clinical trials, particularly phase III clinical trials, in various geographies as a result 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 thereby demanding a need for robust supply chain management for clinical trials.

Clinical Supply Chain Optimization Will Be a High Growth Market in Coming Years

Digital innovation in clinical trials and a 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. The companies in this sector need to forecast patient inventory requirements, and manage the distribution of test samples to the appropriate laboratory sides, creating an effective trial sponsoring process through the adoption of advanced technologies to stay abreast in this competitive market

Competitive Landscape
The major players operating in the clinical trial supply & logistics market are Almac Group, Bilcare Limited, Biocair, Capsugel, Catalent Inc., Eurofins Scientific, FedEx Corp. (FedEx), ICON plc., Infosys Ltd., Intertek Group PLC, Kerry Logistics Network Ltd., Kuehne + Nagel, Marken, Mayne Pharma Group Ltd, Movianto, Parexel, PCI Services, Thermo Fisher Scientific Inc., UDG Healthcare Plc., United Parcel Service Inc., 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.

Recent Developments

  • 25th April 2022- Thermo Fisher Scientific Inc.'s in collaboration with PPD clinical research division and Matrix Clinical Trials, a service of Matrix Medical Network, are developing a decentralised clinical trial (DCT) solutions to deliver clinical trials to patients.

  • 10th November 2021, ICON plc has declared that a new partnership with six research sites spread across four nations has increased the scope and capabilities of its Accellacare Site Network.

Avoid missing out by staying informed – order our report now.

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Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: dev.visavadia@visiongain.com

About Visiongain

Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.

Contact:
Dev Visavadia
PR at Visiongain Reports Limited
Tel: + 44 0207 336 6100
Email: dev.visavadia@visiongain.com