Clinical Trials Manufacturing and Supply Outsourcing Market Size is predicted to represent a 7.28% CAGR during the forecast period for 2023-2031.
Clinical trial manufacturing and supply outsourcing is a strategic technique utilized by pharmaceutical and biotechnology businesses to generate the investigational medications and supplies required for clinical trials efficiently and cost-effectively. The increasing number of clinical trials and regulatory harmonization, increased R&D expenditure by pharmaceutical and biotechnology industries, and technical developments in the supply chain are all major factors. Outsourcing of these services is also increasing as clinical trial costs rise. Clinical trial costs are rising, which has resulted in a rise in the outsourcing of these services.
However, clinical trial sponsors had many difficulties during the COVID-19 epidemic, which presented logistical issues to the business. The remote trial technique's quick and widespread adoption dramatically changed the conventional supply chain. Direct-to-patient solutions were used to deal with the various logistical difficulties that remote research presented.
Competitive Landscape
Some Major Key Players In The Clinical Trials Manufacturing and Supply Outsourcing Market:
- Catalent
- Parexel
- Almac Group Limited
- Patheon
- Thermo Fischer Scientific
- Klifo
- Movianto
- Eurofins Scientific
- Clinigen
- Spaulding Clinical
- Singota
- Symeres
- Ardena
- Others
Market Segmentation:
The Clinical Trials Manufacturing and Supply Outsourcing Market is segmented on the basis of service type, phase type, and end-user. Based on service type, the market is segmented as Manufacturing, Logistics & Distribution, Storage & Retention, and Others. The phase type segments include Phase I, Phase II, Phase III, and Phase IV. By end-user, the market is segmented into Pharmaceutical Companies, Biotechnology Companies, and Others.
Based On Phase Type, The Phase II Segment Is Accounted As A Main Contributor In The Clinical Trials Manufacturing And Supply Outsourcing Market.
The bioalcohols category is expected to record a major share in the global Clinical Trials Manufacturing and Supply Outsourcing Market in 2022. Clinical trials in phase III are more involved than those in earlier phases. The intricacy connected with this phase is the highest despite the relatively low number of medications in this phase. This phase has the highest failure rate due to the sample size and research design, which call for sophisticated dosing at an optimum level. The majority of failures result from disregarding safety and efficacy standards, and the financial and human toll is significant. This circumstance may stimulate a greater need for efficient supply chains and logistics, which is expected to positively impact the development of the market.
Pharmaceutical Companies Segment To Witness Growth At A Rapid Rate.
The pharmaceutical companies segment is projected to grow at a rapid rate in the global Clinical Trials Manufacturing and Supply Outsourcing Market. Pharmaceutical companies invest much money in research and development to produce new drugs and treatments. Clinical trials are an important phase in the process of developing new drugs because they provide information regarding the effectiveness and safety of the products being developed. As a result, the clinical trial supplies market may be divided into four divisions based on the products they are used for pharmaceuticals, biologics, medical devices, and others. As biological drugs have steadily replaced pharmaceutical medications in the R&D pipeline, there has been a steady decline in the former, which is anticipated to have a marginally negative effect on segment growth during the projected period.
In The Region, The North American Clinical Trials Manufacturing And Supply Outsourcing Market Holds A Significant Revenue Share.
The North America Clinical Trials Manufacturing and Supply Outsourcing Market is expected to register the highest market revenue share in terms of in the near future. The region conducts the most clinical trials of any country or region, which has a significant positive impact on the expansion of the clinical trial supplies market in that area. The rise of clinical trials and players in the clinical trial supplies market, together with the accessibility of cutting-edge technology, are some causes of this region's supremacy.
In the region, nations like the United States and Canada undertake the majority of the clinical studies. A significant pace of growth is predicted for Asia Pacific. The region's market for clinical trial supplies is anticipated to rise rapidly due to the enormous growth in clinical research. The low cost per patient in Asia-Pacific countries and the availability of a diversified patient population that is simple to recruit are the main reasons for expanding clinical research in these areas.
Recent Developments:
- In Sept. 2023, The recent partnership between Thermo Fisher Scientific, Inc. and the National Minority Quality Forum (NMQF) through the NMQF's Alliance for Representative Clinical Trials (ARC) aims to facilitate access to clinical research for patient populations that have been historically underserved.
- In May 2020, Teva-Takeda Pharmaceuticals, Nagoya Aichi, Japan, and Catalent reached an agreement for the acquisition of a clinical packaging facility in Minakuchi, Shiga prefecture... A new clinical GMP manufacturing and distribution centre will be established through this acquisition in order to support clinical studies.
Clinical Trials Manufacturing and Supply Outsourcing Market Report Scope
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 7.28% from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Service Type, Phase Type, End-User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia |
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Competitive Landscape |
Catalent, Parexel, Almac Group Limited, Patheon, Thermo Fischer Scientific, Klifo, Movianto, Eurofins Scientific, Clinigen, Spaulding Clinical, Singota, Symeres, Ardena, and Others. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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