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As per The Business Research Company’s Clinical Trial Supply And Logistics Global Market Report 2023, The global clinical trial supply and logistics market is expected to grow from $3.94 billion in 2022 to $4.31 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The clinical trial supply and logistics market is expected to reach $5.97 billion in 2027 at a CAGR of 8.5%.

What was the major driver in the clinical trial supply and logistics market?
The increasing number of clinical trials is expected to propel the growth of the clinical trial supply and logistics market going forward. Clinical trials are research studies conducted with human participants to evaluate the safety and effectiveness of new medical treatments, interventions, or diagnostic procedures. For instance, in July 2023, according to ClinicalTrials.gov, a US-based registry of clinical trials run by the United States National Library of Medicine at the National Institutes of Health (NIH), the number of registered clinical studies increased from 399,499 in 2022 to 437,533 until July of 2023 in all 50 states of the United States and across 221 countries. Moreover, it was reported that 141,513 studies (31% of the total) are registered in the U.S. only, while 244,707 studies (53% of the total) are registered in non-U.S. locations. Therefore, the increasing number of clinical trials is driving the growth of the clinical trial supply and logistics market.

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What was the key trend in the clinical trial supply and logistics market?
Adoption of technology is a key trend gaining popularity in the clinical trial supply and logistics market. Major companies operating in the clinical trial supply and logistics market are adopting new technologies to sustain their position in the market. For instance, in May 2021, N-SIDE, a Belgium-based software consulting company in advanced analytics, launched the N-SIDE Production App, which focuses on assisting biopharma companies in managing the challenges and risks associated with manufacturing trial material. The Production App makes use of a powerful optimization algorithm to optimize every choice made in the clinical supply chain and provides assistance in taking critical decisions like lot sizing, stability plan, network, scale-up strategy, and lot-to-lot allocation. It also aids in the reduction of waste, money, and timeliness, as well as the notification of any changes to all stakeholders.

Which was the largest region in the clinical trial supply and logistics market?
North America was the largest region in the clinical trial supply and logistics market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the clinical trial supply and logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the clinical trial supply and logistics market prominent players?
Major players in the clinical trial supply and logistics market are United Parcel Service, DHL Group, FedEx Corporation, Thermo Fisher Scientific Inc., IQVIA, ICON plc, Eurofins Scientific, Catalent Inc., Intertek Group plc, Parexel International Corporation, UDG Healthcare PLC., Almac Group, World Courier, Piramal Pharma Solutions, Sharp Clinical Services Ltd., Clinigen Group, PCI Pharma Services, Movianto Group, Cold Chain Technologies, Biocair International Limited, QuickSTAT, Wasdell Group, Klifo A/S, TrakCel, Packaging Coordinators Inc., Biotec Services International Limited, Proventa International, and Inceptua Group.

Key clinical trial supply and logistics market segments
The global clinical trial supply and logistics market is segmented –
1) By Service: Logistics And Distribution, Storage And Retention, Packaging Labelling And Blinding, Manufacturing, Comparator Sourcing, Other Services
2) By Phase: Phase I, Phase II, Phase III, Phase IV
3) By Area: Oncology, Cardiovascular Diseases, Respiratory Diseases, CNS and Mental Disorders, Other Areas
4) By End-User: Pharmaceuticals, Biologicals, Medical Device

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The Clinical Trial Supply And Logistics Global Market Report 2023  provides a comprehensive overview on the clinical trial supply and logistics market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

View More Related Reports –
Pediatric Clinical Trials Global Market Report 2023
Healthcare Logistics Global Market Report 2023
Clinical Trial Supplies Global Market Report 2023

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