Clinical Trial Supplies Market - Expected Global Industry Revenue Growth by 2025

Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

# The key players in the industry have been identified through extensive secondary research.

# The revenues generated by leading players operating in the clinical trial supplies market have been determined through primary and secondary research.

# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

The clinical trial supplies market is projected to reach USD 2.5 billion by 2025 from USD 1.7 billion in 2020, at a CAGR of 7.8%.

Major Growth Boosters:

The increasing R&D expenditure in pharmaceutical and biopharmaceutical companies and the globalization of clinical trials & harmonization of regulations are the key factors driving the growth of this market.

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Geographical Growth Scenario:

North America is the largest regional market for clinical trial supplies

Currently, North America is the largest regional market for clinical trial supplies, and this trend is expected to continue during the forecast period of 2020 to 2025. The presence of well-established CROs and the high and growing investments in R&D by pharmaceutical and biopharmaceutical companies are the major factors responsible for the large share of North America in the global clinical trial supplies market.

However, owing to the presence of a larger patient population and less-stringent patient recruitment regulations, the Asia Pacific market is expected to grow at the highest CAGR during the forecast period.

Recent Developments:

# In December 2019, Catalent launched the New CTSuccess Service to guide sponsors toward smarter clinical trial supply planning.

# In May 2019, Catalent completed the USD 1.2-billion acquisition of Paragon Bioservices, Inc., a leading viral vector development and manufacturing partner for gene therapies.

# In September 2019, Catalent announced that it would invest USD 9 million in a new clinical supply facility in San Diego, due to open in the summer of 2020.

Data Triangulation:

After arriving at the overall market size, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Key Questions Addressed by the Report:

# Where will all these developments take the industry in the mid-to-long term?
# What are the recent trends affecting the market?
# Who are the key players in the market, and how intense is the competition?
# Which region is a lucrative market for clinical trial supplies?

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Key Market Players:

The prominent players operating in the global clinical trial supplies market include Alamc Group (UK), Catalent, Inc. (US), PCI Services (US), Parexel International Corporation (US), Sharp Packaging Services (US), Biocair (UK), O&M Movianto (US), KLIFO A/S (Denmark), and Thermo Fisher Scientific, Inc. (US).