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SAN FRANCISCO, August 8, 2017 /PRNewswire/ -The global clinical trial supplies market is expected to reach USD 3.3 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness growth at 7.3% CAGR owing to Increasing volume of clinical trial studies coupled with the growing complexity in conduction of these trials are the primary driver of the industry. Furthermore, geographic expansion and development of Information Technology (IT) to facilitate higher integration and smooth performance of activities are other vitally impacting parameters. Over the next eight years, the clinical trials and pharmaceutical industry is anticipated to continue steady growth, thereby promoting the high requirement of clinical trial supplies.
U.S and Canada are home to majority of clinical trials which are conducted in this region. No language barrier is one of the major factor for the preference of this region for majority of clinical trials, as English language is widely spoken in this region. Major CRO's and biopharmaceutical companies have their hub in this region and with advancement in technology the demand for efficient supplies are increasing and the region is expected to dominate the clinical trial supplies market over the forecast period.
Browse full research report with TOC on "Clinical Trial Supplies Market Analysis By Phase (Phase I, Phase II, Phase III), By Product & Services (Manufacturing, Storage & Distribution, Supply Chain Management), By End-Use, By Therapeutic Use, By Region, And Segment Forecasts, 2014 - 2025" at:http://www.grandviewresearch.com/industry-analysis/clinical-trial-supplies-market
Further key findings from the report suggest:
• On the basis of clinical phase, the market is anticipated to be dominated by Phase III in 2025. The presence of large number of molecule estimated to reach Phase III by 2020 is the primary factor responsible for this prediction.
• By services, storage and distribution is anticipated to witness the fastest growth at a CAGR of over 7.0%.
• Key end-users of this industry are pharmaceuticals, and biologics. Biologics are expected to witness fastest growth owing to the increasing research in the field of genetics and biotechnology such as development of nanoparticle based drug delivery systems.
• In terms of therapeutic use or clinical indication, oncology dominates the market. The highest research activity as of 2016 is being performed for this indication, which in turn is expected to drive the market.
• Few of the industry players include Movianto GmbH, Thermo Fischer Scientific, Sharp Packaging Services, Catalent Pharma Solution, Biocair International Ltd., PCI Services, Almac Group Ltd, and Patheon Inc. Other players present in the market space include Clinigen Group Plc, Merck Serono, and Chimerix.
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Grand View Research has segmented the clinical trial supplies market by phase, product/service, end-use, therapeutic use and region:
• Clinical Phase Outlook (Revenue, USD Million; 2014 - 2025)
â¦ Phase I
â¦ Phase II
â¦ Phase III
• Product/Service Outlook (Revenue, USD Million; 2014 - 2025)
â¦ Storage & distribution
âª Cold chain based
âª Non-cold chain based
â¦ Supply chain management
• End-Use Outlook (Revenue, USD Million; 2014 - 2025)
â¦ Medical device
• Therapeutic Use Outlook (Revenue, USD Million; 2014 - 2025)
â¦ Infectious disease
â¦ Metabolic disorders
• Regional Outlook (Revenue, USD Million; 2014 - 2025)
â¦ North America
â¦ Asia Pacific
â¦ Latin America
âª South Africa
âª Saudi Arabia
Read Our Blog By Grand View Research:http://www.grandviewresearch.com/blogs/healthcare
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.