The Global ClinicalTrial Supply and Logistics Market, By Service (Manufacturing, Packaging andLabeling, and Distribution), By End User (Pharmaceutical, Medical Devices, andBiologics) was valued at US$ 14.95 Bn in 2017 and is projected to exhibit aCAGR of 7.1% over the forecast period (2018 - 2026), as highlighted in a newreport published by Coherent Market Insights.
Various clinical trial supply andlogistics management companies are indulged in offering smart tools to solveproblems in delivering trial-related supplies to multiple locations, identifyopportunities, reduce costs, and enhance future trials. Clinical supplymanagement provides other supplies such as disposable products, refrigerators,centrifuges, and diagnostic, testing, and imaging medical equipment apart fromthe investigational medicinal products. These factors are expected to createlucrative opportunities for the manufacturers to develop drugs ortechnologically advanced medical devices with ease.
The shift in geographicaldistribution of clinical trials by various biopharmaceutical companies fromregions such as Central and Eastern Europe, Asia Pacific, Latin America, andMiddle East for cost-effective and quick patient recruitment is expected drivegrowth of the clinical trial supply and logistics market. Furthermore, AsiaPacific region provides greater economic benefits to biopharmaceuticalcompanies, as government in China and Singapore allocate funds to promotebiomedical research in the region.
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Also, Asia Pacific possessvarious kind of different diseases, which helps in conducting clinical trialswith more significant results and outcome. In April 2018, Zuellig PharmaHoldings Pte. Ltd. entered into a distribution agreement with Taiho Pharma,Singapore for their product, TS-ONE OD Tablet, which is the first anticanceragent in the form of disintegrating tablet for the patients who are facingdifficulty in swallowing capsules or whose water intake is restricted.
Browse 25 Market Data Tables and44 Figures spread through 173 Pages and in-depth TOC on "Clinical TrialSupply and Logistics Market, By Service (Manufacturing, Packaging and Labeling,and Distribution), By End User (Pharmaceutical, Medical Devices, and Biologics)- Global Forecast to 2026"
Clinical trial suppliers andlogistics focuses on organic and inorganic growth strategies such as mergersand acquisitions, and launch of various clinical programs, which in turn isexpected to augment growth of the market during the forecast period. Forinstance, in November, 2016, Bionical, global supplier of commercialpharmaceutical products, acquired a global Clinical Research Organisation namedEMAS Pharma to expand its clinical service business footprint globally and tounify and complete Bionical’s patient-centric service portfolio.
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Key takeaways of the clinical trialsupply and logistics market:
The global clinical trial supplyand logistics market is expected to expand at a CAGR of 7.1% during theforecast period (2018 – 2026), owing to increasing number of clinical trials,increasing complexities, and rising number of biologics and biosimilar drugs intrials
On the basis of service,distribution segment is expected to show maximum traction during the forecastperiod, owing to the rising outsourcing storage and distribution facility
On the basis of end user,pharmaceutical segment holds largest market share, owing to increasing researchactivities for oncology therapeutic application. However, steady decrease inR&D pipeline for pharmaceutical drugs has been observed and it is beingsubstituted by biological drugs, which is expected to impact the segment overthe next eight years.
Some of the major playersoperating in the global clinical trial supply and logistics market includeCatalent Pharma Solutions, Inc., Almac Group, Movianto, Patheon, Inc., PCIPharma Distribution, Sharp Packaging Distribution, PAREXEL InternationalCorporation, Marken, KLIFO A/S, and Biocair
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