The global Clinical Trial Kits Market size is anticipated to reach USD 2.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.5% from 2021 to 2028. The factors driving market expansion include globalization of clinical trials, increasing demand for remote services, and rising clinical trial complexity.
Remote clinical trial 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.
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.
Companies began to move to provide
direct-to-consumer testing digital services. More aspects of the testing
process, from test ordering to sample collection, are already making their way
into patients' homes. Besides, regulatory authorities have instantly given
sponsors guidelines to resolve issues that have arisen during ongoing
clinical studies. Changes such as the use of telemedicine, the elimination of
non-essential visits and laboratory assessments, as well as diagnostic testing
and sample collection, have allowed many studies to continue while ensuring
patient safety during the pandemic.
Related Press Release@ Clinical Trial Kits Market Report
Clinical Trial Kits Market Report
Highlights
- The logistics segment dominated the market and accounted for the
largest revenue share of 54.9% in 2020. This is due to the increasing
demand for services to simplify the logistics process in clinical trials
- The phase III segment dominated the market and accounted for the
largest revenue share of 53.4% in 2020 as phase III trials require a large
number of participants
- North America dominated the market in 2020 owing to favorable
government support and the existence of a large number of companies
offering innovative services in the U.S.
- In Asia Pacific, the market is projected to witness the highest
CAGR of 9.9% over the forecast period as the region is continuously
growing in terms of clinical trials due to the vast population and
developing technology
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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