Government Initiatives Encouraging Novel Drug Development Driving Clinical Trial Logistics Market: Fact.MR
Increasing mortality due to surging cardiovascular diseases and other chronic ailments is prompting governments to fund drug development programs, subsequently increasing the need for clinical trials
Award winning market research company Fact.MR projects the clinical trial logistics market to exhibit growth at a positive rate in 2021 and beyond. Growing cases of chronic diseases such as cardiovascular infections, malignant growth, obesity, and diabetes are leading to the increasing drug development & clinical drug trials. The increasing incidence of non-communicable chronic diseases and subsequent focus on drug development are bolstering the market growth.
According to the World Health Organization (WHO), mortality rate in 2020 was registered approximately 9 million due to infectious diseases. Of these, around 40% of deaths were recorded due to cardiovascular disease across the globe. Acknowledging the burden, healthcare professionals are investing heavily in the drug development, which in turn is increasing need for clinical trials.
Chronic diseases such as cardiovascular infections in the countries such as the U.S., India, China, and the U.K. are increasing, in turn increasing focus on the development of drugs. These factors have been driving the clinical trial logistics market. Also, increasing investment in the infrastructure of pharmaceutical & biopharmaceutical industry is expected to propel the market growth.
“Manufacturers are accelerating their research and development initiatives to conduct drug development. This is increasing the need for clinical trials, which is driving growth prospects for clinical trial logistics providers,” says a Fact.MR analyst.
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- In terms of service type, logistics & solutions segment is expected to remain dominant throughout the forecast period
- Oncology and Infectious & immune system diseases are expected to register highest growth in term of therapeutic area segment
- Biopharmaceutical industry is likely to be the primary end-user, followed by pharmaceutical industry
- The U.S. will hold the largest market share backed by high number of research and development initiatives undertaken in the area of advanced health care infrastructure
- Expansion of the healthcare infrastructure will spur clinical trial logistics sales across Germany & France
- India and China are expected to offer lucrative growth opportunities in the upcoming decade
- Breakthroughs in clinical drug trails will accelerate growth prospects across the U.K
- Backed by the growing drug development services countries such as Malaysia, Singapore and Japan will register positive growth through 2021
- Increasing prevalence of chronic and infectious diseases leading to rising frequency of clinical drug trials is expected to improve the demand
- Surging investment in the research & development for novel drug discovery & clinical trials is bolstering the growth of market
- Rising expenditure in the pharmaceutical & biopharmaceutical industry is anticipated to fuel the demand in the market
- High cost of drug development and clinical trials will impede the growth of clinical trial logistics market
- Increasing cost in patient management and dearth of skilled professionals to execute services on time will likely limit the growth of the market
Discover more about the clinical trial logistics market with figures, data tables and the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/clinical-trial-logistics-market
Leading players are forging strategic agreements with top healthcare companies for better distribution channels and better reach to the clients and outsourcing clinical trial logistics exercises to contract research organizations (CRO).
In January 2021, Caprion-HistoGeneX, a leading global contract research laboratory services provider backed by Arsenal Capital Partners announced the acquisition of Clinical Logistics Inc. a virtual central specimen management CRO based in Canada. The acquisition offers Caprion-HistoGeneX to broaden its logistics services to support the global clinical trial needs of its pharma and biotech customers better.
Some of the leading players profiled by Fact.MR operating in the clinical trial logistics include:
- Alamc Group
- Catalent Inc.
- PCI Services
- Parexel International Corporation
- Sharp Packaging Services
- O&M Movianto
- KLIFO A/S
- Thermo Fisher Scientific Inc.
- UDG Healthcare Plc.
- DHL International GmbH
- Bilcare Limited
- PRA Health Sciences Inc.
- Eurofins Scientific
- Seveillar Clinical Trial Supplies Pvt. Ltd.
- Crown Couriers
- AIT Worldwide Logistics, Inc.
More Insights on the Clinical trial logistics Market
In its latest study, Fact.MR offers an unbiased analysis on global clinical trial logistics market for the upcoming decade. The study gives detailed insights on the major trends and growth opportunities that the market is expected to witness over the forecast period of 2021 to 2031. To get a better hindsight, the market is segmented on the basis of:
- Packaging, Labeling, and Blinding
- Comparator Sourcing
- Distribution, Storage, and Retention
- Phase I
- Phase II
- Phase III
- Phase IV
- BA/BE Studies
- Neurological and Mental Disorders
- Infectious and Immune System Diseases
- Digestive System Diseases
- Blood Disorders
- Other Therapeutic Areas
- Medical Device Industry
- Biopharmaceuticals Industry
- Pharmaceuticals Industry
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa.
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