Global Clinical Trial Supply and Logistics Industry Industry 2020 Industry Analysis, Top Players, Revenue and Market Share Report
Infinium Global Research’s recent report on the “Clinical Trial Supply and Logistics Industry Market (By Sector (Clinical Trial Manufacturing Services, Clinical Trial Logistics and Distributions, Clinical Trial Supply Chain Management)): Global Industry Analysis, Trends, Size, Share and Forecasts up to 2026” estimates that the market was sized USD 20 billion in 2020 and is expected to reach over USD 30 billion by 2026 growing with a CAGR of 7% over 2020-2026. The report provides a comprehensive outline of the factors responsible for the growth of the market.
“We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2020-2026.”
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The clinical Trial Supply and Logistics Industry consists of transportation and logistical services such as cold storage and other packaging services. Pharmaceutical companies are compelled to develop new drugs and medications that are more effective in order to cure the long-term prevalent diseases such as cancer, diabetes, aids. A number of new drugs, medications, vaccines are under clinical trials around the world. Thus, this is increasing the demand in the market. High investments are being done by pharmaceutical companies in the development of new drugs. They are also increasing their capacity for carrying out clinical trials. This factor is primarily driving the market. Academic institutions and Government agencies are actively conducting and funding new medical research studies. Most of the research studies are dependent upon clinical trials. Thus, driving the market growth. New entrants entering the market are also high. The companies in the market are planning to expand their service-providing capabilities and their offerings to the customer. The investment in R&D activities is also increasing. Therefore, new opportunities are set to arise in the market
Covid-19 pandemic provided a major boost to the market. In a record time of one year, the Covid-19 vaccine was developing. The number of covid-19 vaccines that are currently undergoing clinical trials is huge. It is required that the clinical trials of these vaccines should be safe and fast. This fuelled the demand for clinical trial supplies and logistics in the market. On a large scale the clinical trials of testing kits for Covid-19 were carried out. The boom is being experienced by the Clinical Trial Supply and Logistics Industry market is currently. Vaccine manufacturers and governments collaborated with the providers and suppliers in the market.
Clinical Trial Cold Chain Logistics is Expected to Dominate the Market
Clinical Trial Cold Chain Logistics is expected to dominate the market. The cold chain logistics play an important role while transporting as well as transporting the specimens. The temperature needs to be accurate otherwise the specimens and samples will be damaged. Thus, this will affect the data collection of the trials.
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North America to be the Dominant Region in Clinical Trial Supply and Logistics Industry Market
Geographically North America is expected to be the highest revenue-generating region in the market. Asia-Pacific is expected to be the fastest-growing region in the market. Some of the largest pharmaceutical companies such as Johnson and Johnson, Pfizer, Inc., F. Hoffmann-La Roche Ltd are based in North America. Therefore the clinical trials for new medical devices, products, vaccines, drugs, and medicines are carried out on a large scale. Contract research organizations are also growing in the region. In Asia-Pacific, the manufacturing base of pharmaceuticals is also increasing. Thus, the rate of clinical trials is also high in the region.
Companies Operating in Clinical Trial Supply and Logistics Industry Market are Focusing On Acquisitions and Mergers
The Clinical Trial Supply and Logistics Industry market is highly competitive. The market is dominated by companies such as DHL International Gmbh, World Courier, Marken, The Almac Group., FedEx and others. The companies are focusing on acquisitions and mergers. In 2019 Marken acquired three separate logistics companies namely HRTL, HETO, and Der Kurier in Europe. These acquisitions will expand the capacity of Marken in Europe and also strengthen its position.
Infinium Global Research’s recent report on the global clinical trial supply and logistics industry market is an encompassment of such recent developments in the global marketplace. The report delivers insights into the recent developments by leading players that have contributed to the growth of the market and also estimates the impact of recent developments the global market.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the clinical trial supply and logistics industry.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2026.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify