(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Nov. 17, 2023 (GLOBE NEWSWIRE) -- The "Global Clinical Trial Supply and Logistics Market Report 2023" report, revealing significant growth trajectory for the market of $5.97 billion by 2027 at a CAGR of 8.5%, has been added to ResearchAndMarkets's offering.
Key Drivers of Growth
Increasing Clinical Trials : The surge in registered clinical studies, as indicated by data from ClinicalTrials, underscores a growing demand for clinical trial supplies and logistics services. The report highlights that the rise in the number of studies necessitates efficient supply chain solutions to ensure the smooth execution of these trials. Technological Innovations : The adoption of new technologies by leading companies like N-SIDE, with its N-SIDE Production App, represents a significant trend in the market. These technological solutions optimize clinical supply chains, reduce waste, and enhance decision-making processes, contributing to market growth.
North America stands as the largest contributor to the market, while Asia-Pacific is poised for the fastest growth in the coming years. The report covers a comprehensive geographical analysis, including major regions such as Western Europe, Eastern Europe, South America, the Middle East, and Africa.
The market features prominent players such as United Parcel Service, DHL Group, FedEx Corporation, and Thermo Fisher Scientific Inc. The report also notes significant movements within the industry, like Myonex's recent acquisition of Hubertus Apotheke's clinical trial supply and drug wholesale businesses, signaling strategic expansions in the European Union.
Services and Applications
This sector encompasses a range of services like logistics and distribution, storage, packaging labeling, and manufacturing, catering to various phases of clinical trials across diverse medical fields. The market report provides an exhaustive breakdown of these services and their applications in the pharmaceutical and medical devices industries.
The "Global Clinical Trial Supply and Logistics Market Report 2023" offers an indispensable resource for stakeholders in the pharmaceutical and healthcare sectors. It provides a detailed analysis of the current market scenario and future trends, essential for strategic planning and decision-making.
A selection of companies mentioned in this report includes
United Parcel Service DHL Group FedEx Corporation Thermo Fisher Scientific Inc. IQVIA ICON plc Eurofins Scientific Catalent Inc. Intertek Group plc Parexel International Corporation UDG Healthcare PLC. Almac Group World Courier Piramal Pharma Solutions Sharp Clinical Services Ltd. Clinigen Group PCI Pharma Services Movianto Group Cold Chain Technologies Biocair International Limited QuickSTAT Wasdell Group Klifo A/S TrakCel Packaging Coordinators Inc. Biotec Services International Limited Proventa International Inceptua Group.
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Global Clinical Trial Supply and Logistics Market
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