LAMEA Clinical Trial Supply & Logistics Market Size, Share & Industry Trends Analysis Report By End-user, By Therapeutic Area, By Phase (Phase III, Phase II, Phase I and Phase IV), By Service, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Clinical Trial Supply & Logistics Market would witness market growth of 13.6% CAGR during the forecast period (2022-2028).
Numerous clinical drug supply groups have difficulty keeping up with advances such as gene and cell therapy and decentralized trials. These developments necessitate the development of new supply capabilities, such as viral-vector manufacturing, patient-device management, and in-home services, which clinical drug supply functions cannot produce independently, efficiently, or rapidly.
Instead of turning inward, leaders in clinical drug supply are creating external collaborations with contract research organizations (CROs), technology suppliers, and other strategic partners. The pharmaceutical supply chain is undergoing a monumental change due to a more complicated regulatory environment; mounting pressure to boost operational efficiency and streamline costs by modernizing traditionally burdensome and error-prone processes; and the rise of personalized medicines, which require close supply chain collaboration and patient-centric orchestration.
To remain competitive, pharma supply chain organizations must integrate technologies and rely on product serialization to assure inventory visibility from beginning to end. However, the time, complexity, and resources required to create point-to-point interfaces with trading partners are prohibitively expensive. To ensure success in this environment, an enabling technology, a broad digital network of trading partners in the cloud that eliminates barriers to integration and enables businesses to arrange their supply chains around the patient's individual needs, is required.
The Argentine Ministry of Health (ANMAT) adopted a new law on April 26 that drastically decreases the clearance process for clinical studies. The new rule will reduce the evaluation period from 160 business days to no more than 70 days. The president of Argentina expects the number of trials being conducted in the country to treble in the next two years now that the updated legislation is in place. The Argentinean Chamber of Pharmaceutical Products said that 20 studies had been approved in the past two weeks, indicating that this new law already has a significant influence. Thus, government activities surrounding clinical trials enable sponsors to concentrate on conducting trials and developing further treatments. Consequently, these factors are driving the demand for the LAMEA Clinical Trial Supply & Logistics Market.
The Brazil market dominated the LAMEA Clinical Trial Supply & Logistics Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $126 Million by 2028.The Argentina market is exhibiting a CAGR of 14.2% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 13.3% during (2022 - 2028).
Based on End-user, the market is segmented into Pharmaceuticals, Biologicals and Medical Device. Based on Therapeutic Area, the market is segmented into Cardiovascular Diseases, Respiratory Diseases, CNS & Mental Disorders, Oncology and Others. Based on Phase, the market is segmented into Phase III, Phase II, Phase I and Phase IV. Based on Service, the market is segmented into Logistics & Distribution, Comparator Sourcing, Storage & Retention, Packaging, Labeling, & Blinding, Manufacturing and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Clinical Trial Supply & Logistics Market is Projected to reach USD 5.5 Billion by 2028, at a CAGR of 7.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc., Catalent, Inc., Marken (United Parcel Service of America, Inc.), Piramal Enterprises Limited, FedEx Corporation, Inizio Group Limited (Clayton, Dubilier & Rice), Parexel International Corporation (Phoenix Parentco, Inc.), Almac Group, Movianto (Walden Group SAS), and Deutsche Post DHL Group (The Deutsche Post AG)
Scope of the Study
Market Segments Covered in the Report:
- Medical Device
By Therapeutic Area
- Cardiovascular Diseases
- Respiratory Diseases
- CNS & Mental Disorders
- Phase III
- Phase II
- Phase I
- Phase IV
- Logistics & Distribution
- Comparator Sourcing
- Storage & Retention
- Packaging, Labeling, & Blinding
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Thermo Fisher Scientific, Inc.
- Catalent, Inc.
- Marken (United Parcel Service of America, Inc.)
- Piramal Enterprises Limited
- FedEx Corporation
- Inizio Group Limited (Clayton, Dubilier & Rice)
- Parexel International Corporation (Phoenix Parentco, Inc.)
- Almac Group
- Movianto (Walden Group SAS)
- Deutsche Post DHL Group (The Deutsche Post AG)
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Global Clinical Trial Supply & Logistics Market Report 2022-2028
North America Clinical Trial Supply & Logistics Market Report 2022-2028
Europe Clinical Trial Supply & Logistics Market Report 2022-2028
Asia Pacific Clinical Trial Supply & Logistics Market Report 2022-2028