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The Global Clinical Trial Supply & Logistics Market size is expected to reach $5.5 billion by 2028, rising at a market growth of 7.8% CAGR during the forecast period
Clinical trial supply and logistics entail managing clinical supplies required for clinical investigations of pharmaceuticals or medical devices in line with protocol and applicable regulatory standards.
New York, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Clinical Trial Supply & Logistics Market Size, Share & Industry Trends Analysis Report By End-user, By Therapeutic Area, By Phase, By Service, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06422842/?utm_source=GNW
This procedure oversees the planning, packaging, forecasting, labeling, sourcing, and distribution of clinical goods for commercial and government sponsors whose clinical trials are in phases 1-4.
Clinical trial providers collaborate with numerous third-party vendors and technicians at various stages of clinical distribution to confirm that the study medications offered are of sufficient amount and quality. This management, in terms of medicine supply, provides full tracking from manufacturing to dispensing and disposal, reducing risks such as product expiration or depletion.
The increased number of clinical trials and harmonization of regulations, rising R&D spending by pharmaceutical and biotechnology companies, and technical developments in the supply chain are major market drivers. Due to the increase in the expense of clinical trials, there is also an increase in outsourcing these services.
The COVID-19 pandemic imposed logistical obstacles on the clinical trial industry and sponsors encountered numerous challenges during the pandemic. The rapid and widespread adoption of the remote trial technique has significantly altered the traditional supply chain. Direct-to-patient solutions were utilized to address the diverse logistical challenges of remote research. Decentralized trials facilitate sponsors’ access to a broad audience. Even though the pandemic has boosted the acceptance of these trials, there will be a significant demand for them even after COVID-19 is eradicated.
COVID-19 Impact Analysis
COVID-19 negatively influenced the market due to disruptions in the supply chain and the government’s decision to reduce the number of commercial airlines to limit the spread of the virus. However, during the second half of the pandemic, the market began to recover due to increased demand for COVID- 19 vaccinations. According to the WHO, there are 169 vaccines in the clinical development phase and 198 in the preclinical phase as of August 2, 2022. Due to the rising requirement for effective logistics and supply chain management, which comprises temperature control management and cold chain management, clinical trials are increasingly outsourced.
Market Growth Factors
A growing number of clinical trials registered
In recent years, the number of registered clinical trials has expanded dramatically. As of January 22, 2023, around 4,39,527 reported clinical studies were reported. Recent years have seen an increase in the complexity of clinical trials, which remain indispensable for the R&D of novel medications and technologies. The pharmaceutical industry spends the highest proportion of its income on research and development compared to other sectors. According to data, the number of registered and active clinical trial cases has steadily increased over the past decade. This has increased outsourcing-related tasks, such as material supply, blinding, delivery, and packaging. Consequently, these factors drive the expansion of the Clinical Trial Supply & Logistics Market.
New markets introduction
Regarding trial expenses and patient pools, North America and Europe, the traditional centers of clinical trials, are confronting difficulties. This has increased the incidence of uncommon diseases, and their clinical trials are being relocated to poorer countries. Moreover, technology and data play a leading role in clinical trial decision-making. Catalent, one of the top competitors in this market, invested USD 9 million in a new clinical supply center in San Diego to provide comprehensive clinical supply services for early-phase clinical studies. In India, Biocair teamed with Linehaul Express to expand its presence in new markets. Marken (a UPS subsidiary) acquired PCX International in Japan to strengthen its presence in the local market.
Market Restraining Factors
Expensive clinical trials
The high expense of clinical trials is a significant barrier to expanding the market globally. The escalating cost of clinical trials is an essential cause for concern. The increasing requirement to collect more clinical data is a factor that contributes to the rising expenses of clinical studies. The researchers overseeing a clinical study must consider trial design, site selection, protocol design, and trial execution when preparing the trial. The National Health Service (NHS) does not fund clinical trial research in the United Kingdom. Drug firms, charitable organizations, government-funded bodies like the Medical Research Council (MRC) and the National Institute of Health Research (NIHR), and occasionally foreign organizations provide funding. All of these factors restrain the expansion of the Clinical Trial Supply & Logistics Market over the forecast period.
Service Outlook
Based on service, the clinical trial supply & logistics market is segmented into logistics & distribution, storage & retention, packaging, labeling, & blinding, manufacturing, comparator sourcing, and other services. The manufacturing segment acquired a significant revenue share in the clinical trial supply & logistics market in 2021. This is a result of the increasing demand for biologics and complicated molecules, the expansion of manufacturing facilities, and the rise in clinical trials, which has led to an increase in material supply and the need for quality medication manufacturing.
Phase Outlook
Based on phase, the clinical trial supply & logistics market is segmented into phase I, phase II, phase III, and phase IV. The phase II segment procured a substantial revenue share in the clinical trial supply & logistics market in 2021. This is due to the increase in outsourcing in this phase and an increase in investments by industry and non-industry sponsors. The increasing number of medications in phase II is anticipated to cause more significant complications in logistics and supply chain, increasing the demand for efficient logistics and supply chain, consequently contributing to the segment growth.
End-User Outlook
Based on end-user, the clinical trial supply & logistics market is segmented into pharmaceuticals, biologicals, and medical device. The biologicals segment garnered a prominent revenue share in the clinical trial supply & logistics market in 2021. Increasing adoption of biologics products like vaccines, cell and gene therapies, and investments for product manufacture and development are the primary market drivers. In addition, the desire for vaccination globally to avert the COVID-19 pandemic is increasing. The increasing adoption coupled with other features is expected to surge the segment’s growth.
Therapeutic Area Outlook
Based on therapeutic area, the clinical trial supply & logistics market is segmented into oncology, cardiovascular diseases, respiratory diseases, CNS & mental disorders, and others. The oncology segment recorded a promising growth rate in the clinical trial supply & logistics market in 2021. This is because of the highly sophisticated therapeutic approaches, trials, and ever-changing demand for supportive services. Oncology clinical trials aim to diagnose, monitor, and treat cancer and its accompanying symptoms. Also, the oncology clinical trial supplies use both primary and secondary packing. The fundamental goal of packaging is to increase patient adherence. The above mentioned characteristics are anticipated to surge the segment’s growth.
Regional Outlook
Based on region, the clinical trial supply & logistics market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2021, the North America region generated the highest revenue share in the clinical trial supply & logistics market. Regionally, the most significant number of clinical trials are undertaken which is a primary growth driver for the market. The substantial increase in spending in clinical trials and the rise in market participants are anticipated to contribute to market expansion in the North America region during the projected period.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc., Catalent, Inc., Marken (United Parcel Service of America, Inc.), Piramal Enterprises Limited, FedEx Corporation, Inizio Group Limited (Clayton, Dubilier & Rice), Parexel International Corporation (Phoenix Parentco, Inc.), Almac Group, Movianto (Walden Group SAS), and Deutsche Post DHL Group (The Deutsche Post AG)
Strategies deployed in Clinical Trial Supply & Logistics Market
Jan-2023: Catalent unveiled Case Management Service. This service would allow customers to concentrate on their resources on the science and development of advanced therapies. Additionally, this would permit trained specialists to handle the time-critical and complex supply chain for gene and cell therapy.
Dec-2022: Catalent opened a clinical supply facility located in Shanghai, China. This expansion would support the clinical trials of advanced therapeutics demanding specialized handling and storage capabilities.
Oct-2022: Piramal Pharma Solutions launched ADCelerate, a solution for the development of the antibody-drug conjugate drug. ADCelerate hastens the timeline for the development of the initial clinical supply for drug products and drug substances. This product would provide well-developed manufacturing procedures for lyophilized drug products and antibody-drug conjugate drug substances within twelve months.
Sep-2022: DHL Supply Chain acquired New Transport Applications, a company engaged in transportation, supply chain, storage etc. Through this acquisition, the company would broaden its suite of Supply Chain services in the Healthcare and Life Sciences sector markets of Mexico. Additionally, DHL concentrates to solidify its logistics business and provide long-term growth.
Aug-2022: Catalent took over Metrics Contract Services, a company providing analytical testing, pharmaceutical development etc. to patients. This acquisition would maintain the company’s ability to combine manufacturing, packaging and oral solid formulation development to assist customers to hasten and simplify their programs along with extending its ability to manage highly potent compounds.
Apr-2022: Thermo Fisher Scientific Inc. collaborated with Matrix Clinical Trials, a company engaged in the hospital and healthcare business. Through this collaboration, the company would be able to approach more participants, including the previously under-served and under-represented communities. Moreover, the participant would not be required to reach the traditional investigator sites located far away from their homes.
Jan-2023: Catalent unveiled Case Management Service. This service would allow customers to concentrate on their resources on the science and development of advanced therapies. Additionally, this would permit trained specialists to handle the time-critical and complex supply chain for gene and cell therapy.
Dec-2021: Thermo Fisher Scientific Inc. took over PPD, Inc., a pharmaceutical company engaged in clinical research. Through this acquisition, the company would provide a vast range of services in the clinical development spectrum. This includes the development and manufacturing of the drug product, healthcare outcomes, trial logistics., scientific discovery etc.
May-2020: Thermo Fisher Scientific Inc. partnered with CSL Limited, a biotechnology company engaged in manufacturing vaccines and other therapeutics. This partnership would help in meeting the growing demands of biological therapies. Additionally, this would strengthen the customer’s values and increase the capabilities of the company for both biotech and pharma customers.
Aug-2018: Catalent completed the acquisition of Juniper, a company engaged in pharmaceutical development and clinical trial supply manufacturing. This acquisition would broaden the company’s contribution to clinical-scale oral dose manufacturing, bioavailability solutions and formulation development. Additionally, this move would combine the commercial supply and global clinical network.
Scope of the Study
Market Segments covered in the Report:
By End-user
• Pharmaceuticals
• Biologicals
• Medical Device
By Therapeutic Area
• Cardiovascular Diseases
• Respiratory Diseases
• CNS & Mental Disorders
• Oncology
• Others
By Phase
• Phase III
• Phase II
• Phase I
• Phase IV
By Service
• Logistics & Distribution
• Comparator Sourcing
• Storage & Retention
• Packaging, Labeling, & Blinding
• Manufacturing
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Thermo Fisher Scientific, Inc.
• Catalent, Inc.
• Marken (United Parcel Service of America, Inc.)
• Piramal Enterprises Limited
• FedEx Corporation
• Inizio Group Limited (Clayton, Dubilier & Rice)
• Parexel International Corporation (Phoenix Parentco, Inc.)
• Almac Group
• Movianto (Walden Group SAS)
• Deutsche Post DHL Group (The Deutsche Post AG)
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• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06422842/?utm_source=GNW
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