The continual growth of the clinical trial supplies market can be attributed to several factors such as growing incidences of various diseases, rising number of clinical trials, and increase in R&D investments. Moreover, support from governments for conducting further research is anticipated to additionally contribute to the substantial growth of market between 2019 and 2030. However, longer approval time for clinical trials is likely to restrain growth of the market to a certain extent.
Major Key Players of the Clinical Trial Supplies Market are:
Almac Group, Catalent, Parexel International Corporation, Thermo Fisher Scientific, PCI Pharma Services, Sharp, Biocair, Movianto, KLIFO and MARKEN among others.
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To obtain better insights pertaining to the market scenario, prominent players are increasingly focusing on collaborative initiatives with several institutes, research centers and companies. For instance, In December 2016, Almac Group, announced the formation of a strategic partnership with inVentiv Health, a biopharma outsourcing company, a leading CRO and the industry’s only Contract Commercial Organisation (CCO).
Growing incidences of diseases and emergence of new disease cases has necessitated the need for new curable drugs for treatment. Whereas, in developing countries, there are large number of unmet clinical needs due to the occurrence of infectious and tropical diseases in the region. These overall factors, have led to increase in the number of clinical trials conducted. Moreover, increase in government support has also encouraged many small, medium, and large players to enter into drug development. These factors will in turn are expected to increase the clinical trial supplies market.
The Clinical Trial Supplies Market is segmented on the basis of Product, Therapeutic Area and region.
Major Products & Services of Clinical Trial Supplies Market covered are:
- Manufacturing
- Packaging & Labeling
- Storage & Distribution
Major Therapeutic Area of Clinical Trial Supplies Market covered are:
- Oncology
- CNS & Mental Disorders
- Infectious Diseases
- Respiratory Diseases
- Cardiovascular Diseases
- Blood Disorders
- Dermatology
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