Study: global clinical trial supplies market to hit US$3.3bn by 2025

The global clinical trial supplies market is expected generate revenues of US$3.3 billion by 2025 on the back of a sharp rise in the number of complex clinical trial studies, according to a new report by consultancy Grand View Research. 

The report anticipates annual growth of 7.3 per cent per annum. 

Over the next eight years, the clinical trials and the pharmaceutical industry is anticipated to continue steady growth, causing the high requirement of clinical trial supplies. Moreover, geographic expansion and IT improvements in are predicted to facilitate higher integration and smooth performance of activities that are spurring this change.   

Geographic expansion and IT improvements in are predicted to facilitate higher integration and smooth performance of activities that are spurring this change. 

The North American hub 

The United States and Canada are home to majority of clinical trials. The absence of a language barrier is a key factor for the preference of this region for majority of clinical trials as English language is widely spoken. 

Prominent contract research organizations and biopharmaceutical companies have their hubs in North America 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. 

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Further key findings from the report suggest that 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. 

Storage and distribution services are anticipated to witness annual  growth of more than 7 per cent. 

Biologics set to witness growth 

Key end-users of this industry are pharmaceuticals, and biologics. Biologics are expected to witness steady growth owing to the increasing research in the field of genetics and biotechnology such as development of nanoparticle based drug delivery systems.

Biologics are expected to witness steady 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, the highest research activity last year focused on oncology – the study and treatment of tumours. 

Leading players in clinical trial supplies market include: Movianto, Thermo Fischer Scientific, Sharp Packaging Services, Catalent Pharma Solution, Biocair International, PCI Services, Almac  and Patheon as well as Clinigen, Merck Serono and Chimerix.