Global Clinical Trial Supplies Market valued at $2.5 billion in 2021, is expected to grow at a decent CAGR of 8%


BRUSSELS, Belgium, May 10, 2022 (Globe Newswire) — description:

The clinical trial supplies (CTS) market includes services such as packaging and labeling services, clinical supply logistics and distribution, comparator sourcing, and clinical supply management. R&D spending by large pharma companies stood at a record $133 billion in 2021, a 44% increase since 2016. With increasing R&D expenditure and increasing complexity of clinical trials, pharma/biotech wants to outsource related non-core activities. clinical trials. Big pharma is generally more reluctant to outsource than biotech, which is highly dependent on outside partners for clinical development activities.

Increased focus on biologics that require specialized logistics capabilities

Biologics market which is growing at 15% rate is much more than the growth of overall pharma market. Biologic drugs require specialized logistics, distribution, storage and monitoring capabilities because the drugs are temperature sensitive. This further provides growth opportunities for CTS providers with proven expertise and capabilities in handling biologics.

Increase in conducted clinical trials

In 2021, new clinical trials began in Phase I/II/III, a 21% increase from the previous year. Overall, the number of new clinical trials increased by 7.1% between 2016 and 21. The increase in conducted clinical trials will fuel the demand for clinical trial supply services such as comparator sourcing, clinical logistics and supply management.

Oncology – High Growth Therapeutic Area for CTS

In terms of therapeutic use, oncology is the leading and fastest growing segment. This is primarily attributed to the presence of a vast R&D pipeline of oncology drugs. Furthermore, most oncology drugs require temperature-sensitive delivery, which is expected to drive demand for cold chain distribution.

Increasing demand for CTS due to decentralized testing

COVID-19 has given impetus to clinical trials being conducted in a decentralized manner. Virtual trials have become more important than ever after the pandemic. There was hardly any M&A related to virtual trials that took place before the pandemic, but the market saw ~10 M&A deals in 2020. The growing trend towards decentralized testing and the need for direct-to-patient and direct-to-patient logistics and distribution. The role of CTS providers in ensuring the smooth and efficient progress of samples/drugs/monitoring equipments of clinical studies becomes all the more important.

Global footprint and coverage, a key differentiator

As companies face challenges in recruiting patients, clinical trials are increasingly being conducted in more regions and sites. CTS providers that have a global footprint and/or the ability to serve North America/Europe and increasingly Asia/LATM are in great demand.

competitive landscape Analysis: Clinical Tearial ssupply Marcket

The global clinical trial supply market is highly fragmented with the presence of large, integrated CDMOs as well as smaller players. The CROs are looking to expand their service scope to Clinical Trial Manufacturing and Clinical Trial Supply Distribution & Logistics as a vertical integration strategy.

Some of the major/promising players in the clinical trial supplies market include Thermo Fisher Scientific, Catalent, Parexel, Almac Group, Clinigen, Marken (UPS), Piramal, UDG Healthcare, Clifo, CapsGel (Lonza), Recipharm, N-Side, Clifo, Capsgel (Lonza), and others. Ensilayer, and Biocare.

Global expansion and acquisitions viewed as key growth strategies

As a key growth strategy, companies operating in the clinical trial supplies market are focusing on expanding their global presence with additional office footprint and/or entering into acquisitions to broaden their existing service offerings . for example,

  • In June 2021, Biocare opened a new facility in Frankfurt (Germany) as part of the company’s ongoing international growth
  • In July 2019, Marken acquired HRTL (Italy), HETO (Austria), and Der Kurier (Hungary), to further strengthen its commitment to providing logistics services to the pharmaceutical and life sciences industries in Europe.

Explore detailed information Clinical Trial Supplies @ Market https://meditechinsights.com/clinical-trial-supply-market/

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