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(Health-NewsWire.Net, June 29, 2020 ) This study involved four major activities in estimating the current size of the Clinical Trial Supplies Market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.
The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.
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%. The growth of this market is majorly driven by the increasing R&D expenditure in pharmaceutical and biopharmaceutical companies and the globalization of clinical trials & harmonization of regulations.
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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 consolidated in nature. The prominent players operating in this 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).
Catalent, Inc. (US) is the leading player in the global clinical trial supplies market. The company has an extensive network that provides comprehensive services to various pharmaceutical companies for phase I–IV clinical trials. Catalent’s offerings in the clinical trial supplies market include forecasting and planning services, packaging services, comparator sourcing, and distribution and logistics services. In 2018, Catalent generated ~51% of its total revenue from the US. Also, the company is focusing on increasing its customer base and expanding its reach in untapped APAC markets.
Almac Group (UK) is another major player in the global clinical trial supplies market. The company offers a wide range of services, from research through pharmaceutical and clinical development to the commercialization of products.
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