Clinical Trial Supplies Market Analysis By Phase (Phase I, Phase II, Phase III), By Product & Services (Manufacturing, Storage & Distribution, Supply Chain Management), By End-Use, By Therapeutic Use, By Region, And Segment Forecasts, 2014 - 2025
“The market is expected to witness growth at 7.3% CAGR owing to Increasing volume of clinical trial studies coupled with the growing complexity in conduction of these trials are the primary driver of the industry.�
The global clinical trial supplies market is expected to reach USD 3.3 billion by 2025. The market is expected to witness growth at 7.3% CAGR owing to Increasing volume of clinical trial studies coupled with the growing complexity in conduction of these trials are the primary driver of the industry. Furthermore, geographic expansion and development of Information Technology (IT) to facilitate higher integration and smooth performance of activities are other vitally impacting parameters. Over the next eight years, the clinical trials and pharmaceutical industry is anticipated to continue steady growth, thereby promoting the high requirement of clinical trial supplies. U.S and Canada are home to majority of clinical trials which are conducted in this region. No language barrier is one of the major factor for the preference of this region for majority of clinical trials, as English language is widely spoken in this region. Major CRO's and biopharmaceutical companies have their hub in this region 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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