The Clinical trial is a research study that determines whether a medical strategy, treatment, or device is safe, effective and useful for humans use. These studies help in find which medical approaches experiment is best for certain diseases. A clinical trial provides the best data for health care decision-making purposes. The purpose of clinical trials is to study strict scientific standards. These standards protect patients and help in producing reliable study results.
Clinical trials are last stage in drug development in a long and careful research process that is carried out by scientists or researchers for a particular disease, whether drug or medical device. The process drug development often begins in a lab, where scientists first develop and test new ideas related to treatment of disease.
Global Clinical Trial Supplies Market is expected to reach million by 2025 and is projected to register a healthy CAGR of 7.8% in the forecast period of 2018 to 2025.
Segmentation: Global Clinical Trial Supplies Market
The Clinical Trial Supplies Market is segmented into four notable segments which are Services, Clinical Phase, Therapeutic Uses, End User, and geography
- On the basis of Services, the market is segmented into Storage, Manufacturing, Packaging and Labeling, Distribution. In 2018, Storage segment is growing at the highest CAGR and expected to reach USD in the forecast period of 2018 to 2025.
- Bionical Ltd. (U.K.), Launched of Bionical-Clinical Early Access Programs (EAP). A Bionical Clinical EAP in-house service consists of full pharmacovigilance services, EAP strategy and many other services..
- On the basis of Clinical Phase, the market is segmented into Phase III, Phase II, Phase IV, Phase I. In 2018, Phase III segment is growing at the highest CAGR and expected to reach USD in the forecast period of 2018 to 2025.
- Myoderm (U.K.) Opened Brand New European Clinical Distribution Facility.
- On the basis of Therapeutic Uses, the market is segmented into Oncology, Cardiovascular Disease, Dermatology, Metabolic Disorders, Infectious Diseases, Respiratory Diseases, CNS and Mental Disorders, Blood Disorders, Others. In 2018, Oncology segment is growing at the highest CAGR of in the forecast period of 2018 to 2025.
- Movianto UK doubles its cold storage capacity and dedicated storage for Narcotics. By this development, the company has expanded its business. Increasing storage capacity helped the company to store more developed drugs and also helped in the expansion of the company.
- On the basis of End User, the market is segmented into Contract Research Organizations, Pharmaceutical and Biotechnology Companies. In 2018, Contract Research Organization segment is growing at the highest CAGR in the forecast period of 2018 to 2025.
- Clinigen (U.K.) extended it business in Japan with acquisition of one of the pioneered unlicensed medicines supplier International Medical Management Corporation (‘IMMC’) (Japan).
Competitive Analysis: Global Clinical Trial Supplies Market
Some of the prominent participants operating in this market are Movianto, Sharp, Thermo Fisher Scientific Inc., Catalent, Inc, PCI Pharma Services, Almac Group, PAREXEL International Corporation, Bionical Ltd., Alium Medical Limited, MYODERM, Clinigen Group plc, Ancillare, LP , SIRO Clinpharm, CLINICAL SUPPLIES MANAGEMENT HOLDINGS, INC., Biocair and among others.
- In April, 1.6 PCI Pharma Services (U.S.) launched packaging facility for the primary and secondary packaging for potent products at Ireland site.
- In June, Sharp (U.S.) delivered a serialized packaging solution for the launch of Radicava for Mitsubishi Tanabe Pharma America. This led increase in financial sales by delivering packaging solutions
- In August, SIRO Clinpharm (India released Inventory Management System eTRAIL. eTRAIL a solution that improved tracking, reporting and management of a study’s Clinical Trial Supplies
- In February, Myoderm Opened Brand New European Clinical Distribution Facility. This provided storage area to expand business.
Research Methodology: Global Clinical Trial Supplies Market
Primary Respondents: OEMs, Manufacturers, Engineers, Industrial Professionals.
Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers