Clinical Trial Supply And Logistics Market to Reap Excessive Revenues By 2028

 Clinical Trial Supply And Logistics Market Growth & Trends

The global clinical trial supply and logistics market size is expected to reach USD 5.4 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.1% from 2021 to 2028. The market growth is attributed to the increasing need to manage clinical trials and innovations and technology advancements in clinical trial supply and logistics services

However, the COVID-19 pandemic had a negative impact on the market due to restrictions imposed by countries, which led to a 95% reduction in commercial airlines. Besides, clinical trials have increased due to the rising demand for the Covid-19 vaccine. According to the WHO, more than 80 vaccines are currently being studied in clinical trials, with over 180 in the pre-clinical stage. There would be a challenge for logistics related to timelines and access to a large population.

Digitalization tools are required to overcome these challenges for future trials. For instance, a kit with a scannable label can be monitored throughout the supply chain from the kit assembly line to the patient’s home. Machine learning algorithms can take the process a step further by considering various factors across multiple supply chains, such as capacity or hours of service. Radio-frequency identification (RFID) can also aid in the management of shipments required for these clinical trials.

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Clinical Trial Supply And Logistics Market Report Highlights

• The logistics and distribution service segment dominated the market in 2020 with a revenue share of over 20.0% owing to an increase in clinical trials as a result of Covid-19
• Based on phase, the phase III segment dominated the market with a revenue share of over 40.0% in 2020
• In terms of end-user, the pharmaceuticals segment held the largest revenue share of over 40.0% in 2020. This is due to the investment by companies and the presence of a large number of players in the market
• By therapeutic area, the cardiovascular diseases segment dominated the market with a revenue share of over 25.0% in 2020 due to an increase in the number of cardiovascular research studies and firms focused on bringing innovative drugs to the market
• Asia Pacific is anticipated to register the fastest growth rate of 7.8% throughout the forecast period. The region has access to a large and diversified patient pool, cheaper recruitment costs, and favorable policies that make Asia Pacific desirable for clinical trials

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Clinical Trial Supply And Logistics Market Segmentation

Grand View Research has segmented the global clinical trial supply and logistics market based on service, phase, end-user, therapeutic area, and region:

Clinical Trial Supply And Logistics Service Outlook (Revenue, USD Million, 2016 - 2028)

• Logistics & Distribution
• Storage & Retention
• Packaging, Labeling, and Blinding
• Manufacturing
• Comparator Sourcing
• Other Services (Solutions, Ancillary Supply)

Clinical Trial Supply And Logistics Phase Outlook (Revenue, USD Million, 2016 - 2028)

• Phase I
• Phase II
• Phase III
• Phase IV

Clinical Trial Supply And Logistics End-user Outlook (Revenue, USD Million, 2016 - 2028)

• Pharmaceuticals
• Biologicals
• Medical Device

Clinical Trial Supply And Logistics Therapeutic Area Outlook (Revenue, USD Million, 2016 - 2028)

• Oncology
• Cardiovascular Diseases
• Respiratory Diseases
• CNS and Mental Disorders
• Others

Clinical Trial Supply And Logistics Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Iran
  • Israel

List of Key Players of Clinical Trial Supply And Logistics Market

• Thermo Fisher Scientific (Patheon)
• Catalent, Inc.
• Parexel
• Almac Group
• Marken
• Piramal Pharma Solutions 
• UDG Healthcare
• DHL
• FedEx
• Movianto
• Packaging Coordinators Inc.

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.