Global Clinical Trial Supplies Market to experience hike in growth by 2024
Zion Market Research, the market research group announced the analysis report titled "Clinical Trial Supplies Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Global Clinical Trial Supplies Market: Overview
The research study which is used to analyze whether a medical treatment, device, or strategy is effective for humans is known as a clinical trial. This is a better way to diagnose, prevent, and screen the disease. Clinical trials compare a new treatment with existing one for better improvement. It is a complex activity, which needs proper management of several different processes and functions together. The primary aim of the pharmaceutical manufacturer’s is to optimize clinical trial supplies in order to distribute packaged investigational materials to patients enrolled in a clinical trial on time. These activities consist of labeling, project management, clinical packaging, distribution, randomization generation, destruction, blinding, supply chain logistics, and return drug accountability.
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Global Clinical Trial Supplies Market: Growth Factors
Rise in the occurrences of chronic diseases such as HIV, cancer, and epilepsy is the key factor for the strong market growth. The demand in the market is increasing to outsource the drug discovery services and stress is being made to determine the toxicity level in the early stages of drug discovery, this may give rise to the market growth. Increasing emphasis on the R&D in various countries coupled with rising government funding for development of new drugs is anticipated to boost the growth of the market. New entrants in the market are focusing on launching new products and adopting new technologies, this is influencing the market in a positive way. Lack of infrastructure and inadequate trained professionals are factors that are restraining the clinical trial supplies market to some extent.
Global Clinical Trial Supplies Market: Segmentation
The clinical trial supplies market is segmented globally based on therapeutic area, products & services, end user, and region. The therapeutic area is segregated into neurological diseases, oncology, orthopedics, cardiovascular diseases, respiratory diseases, and others. Based on products & services, the global market is fragmented into packaging, distribution, manufacturing, and logistics. The market can be categorized on the basis of end user into biotechnology & pharmaceutical companies, academic & research institutes, contract research organizations, and others.
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Global Clinical Trial Supplies Market: Regional Analysis
North America contributed the largest market share owing to important research activities in the drug discovery, the presence of multinational biotechnology & pharmaceutical companies, and the establishment of advanced health care infrastructure. Europe is experiencing a considerable growth in terms of revenue due to rising government funding and high health care investment. The government in the Asia Pacific region is spending a huge amount on research activities and unmet health care needs in the region, thus anticipating to foster the market growth. Chief pharmaceutical companies are outsourcing their drug development services to countries including Malaysia, China, India, and Singapore. The Middle East and Latin America are projected to show prominent growth in coming years owing to high cancer burden, growing access to information, access to new drugs for research centers, and improving patient education.
Global Clinical Trial Supplies Market: Competitive Players
Key players in the global clinical trial supplies market include Movianto, Alamc Group Ltd., Catalent Pharma Solutions, ADAllen Pharma, Amatsigroup, KLIFO A/S, Durbin Plc., and Biocair, Inc. Other prominent players include Patheon, Inc., Rubicon Research Pvt. Ltd., Sharp Packaging Services, PCI Services, and Parexel International Corporation.
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Global Clinical Trial Supplies Market: Regional Segment Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa
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