The global Clinical Trial Supply And Logistics Market size is expected to reach USD 5.4 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.1% from 2021 to 2028. The market growth is attributed to the increasing need to manage clinical trials and innovations and technology advancements in clinical trial supply and logistics services.
However, the COVID-19 pandemic had a negative
impact on the market due to restrictions imposed by countries, which led
to a 95% reduction in commercial airlines. Besides, clinical trials have
increased due to the rising demand for the Covid-19 vaccine.
According to the WHO, more than 80 vaccines are currently being studied in
clinical trials, with over 180 in the pre-clinical stage. There would be a
challenge for logistics related to timelines and access to a large population.
Digitalization tools are required to overcome these
challenges for future trials. For instance, a kit with a scannable label can be
monitored throughout the supply chain from the kit assembly line to the
patient’s home. Machine learning algorithms can take the process a step further
by considering various factors across multiple supply chains, such as capacity
or hours of service. Radio-frequency identification (RFID) can also
aid in the management of shipments required for these clinical trials.
Related Press Release@ Clinical Trial Supply And Logistics Market Report
Clinical Trial Supply And
Logistics Market Report Highlights
- The logistics and distribution service segment dominated the market
in 2020 with a revenue share of over 20.0% owing to an increase in
clinical trials as a result of Covid-19
- Based on phase, the phase III segment dominated the market with a
revenue share of over 40.0% in 2020
- In terms of end-user, the pharmaceuticals segment held the largest
revenue share of over 40.0% in 2020. This is due to the investment by
companies and the presence of a large number of players in the market
- By therapeutic area, the cardiovascular diseases segment dominated
the market with a revenue share of over 25.0% in 2020 due to an increase
in the number of cardiovascular research studies and firms focused on
bringing innovative drugs to the market
- Asia Pacific is anticipated to register the fastest growth rate of
7.8% throughout the forecast period. The region has access to a large and
diversified patient pool, cheaper recruitment costs, and favorable
policies that make Asia Pacific desirable for clinical trials
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