The global Clinical Trial Kits market size is expected to be worth around US$ 5.1 billion by 2030, according to a new report by Vision Research Reports.
The global Clinical Trial Kits market size is expected to be worth around US$ 5.1 billion by 2030, according to a new report by Vision Research Reports.
The global Clinical Trial Kits market size was valued at US$ 2.3 billion in 2020 and is anticipated to grow at a CAGR of 12.5% during forecast period 2021 to 2030.
Growth Factors
The factors driving market expansion include globalization of clinical trials, increasing demand for remote services, and rising clinical trial complexity.
Remote services are becoming increasingly essential in terms of patient retention, satisfaction, and safety. To enhance their capabilities, pharmaceutical companies have created a relationship with global logistics partners to provide direct-to-patient services. These services provide participants with the flexibility and convenience of participating in the trials while remaining at home.
Get the sample copy of report@ https://www.visionresearchreports.com/report/sample/38471
COVID-19 pandemic has affected the market which resulted in slowing down the trial process. The COVID-19 pandemic is rapidly boosting advances in medical practices that allow people to connect with the healthcare system remotely. This effort of examining the patients at their homes has raised interest in at-home sample collection and testing. Such services offer convenience and minimize potential exposure to SARS-CoV-2.
| Report Coverage | Details |
| Market Size | US$ 5.1 billion by 2030 |
| Growth Rate | CAGR of 12.5% From 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Service, Phase |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Brooks life science; Q2 solutions; Patheon (Thermo fisher scientific); LabCorp drug development; Charles river laboratories; LabConnect; Almac group; Precision medicine group; Cerba research; Alpha laboratories; Marken; Clinigen |
Report Highlights
The logistics segment dominated the market for clinical trial kits and accounted for the largest revenue share of 64.9% in 2020. Clinical trial size continues to grow, causing a rippling effect on pharmaceutical packaging. Secondary package design is becoming more important in order to reduce the risk of product damage or activation during transportation. As authorities push the pharmaceutical sector to examine a bigger number of people, studies are growing bigger.
The phase III segment dominated the market for clinical trial kits and accounted for the largest revenue share of 63.3% in 2020 and is likely to remain dominant in the coming future. The major factor that influences the market for phase III is the purpose of testing pharmaceutical products in humans to validate the therapeutic efficacy observed in Phase II on a large number of patients with a specific disease. This is the transition period from chemical to drug state. Many phase II clinical trials concluding with a successful outcome do not survive in phase III, frequently owing to significant side effects of therapeutic efficacy, thus it is important to undertake wider studies.
North America dominated the clinical trial kits market and accounted for the largest revenue share of 51.1% in 2020. Most pharmaceutical businesses located in the U.S. perform the majority of their business in this region. Favorable government efforts and the existence of a large number of companies offering technologically advanced services such as at-home clinical trial services in the U.S. are driving market expansion.
In Asia Pacific, the market for clinical trial kits is projected to witness the fastest CAGR of 12.9% over the forecast period. Asia Pacific has been and continues to be one of the world’s fastest-growing pharmaceutical marketplaces. With more than 60.0% of the world’s population, Asia Pacific has a vast patient pool; the majority remains treatment-naive due to restricted access to inexpensive medical alternatives. Hence, this is likely to generate more demand for related products and services in the region.
Key Players
- Brooks life science
- Q2 solutions
- Patheon (Thermo fisher scientific)
- LabCorp drug development
- Charles river laboratories
- LabConnect
- Almac group
- Precision medicine group
- Cerba research
- Alpha laboratories
- Marken
- Clinigen
Market Segmentation
- Service
- Kitting Solutions
- Drugs kits
- Sample collection kits
- Logistics
- Transportation
- Warehousing & Storage
- Others
- Kitting Solutions
- Phase
- Phase I
- Phase II
- Phase III
- Phase IV
- Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
Click Here to View Full Report Table of Contents
Buy this Premium Research Report@ https://www.visionresearchreports.com/report/cart/38471
You can place an order or ask any questions, please feel free to contact at sales@visionresearchreports.com | +1 9197 992 333