The North America Clinical Trial Supply & Logistics Market would witness market growth of 6.6% CAGR during the forecast period (2022-2028).
The development of digital technology enabled the surmounting of the obstacles that arose during clinical trials, and future clinical trials will require the same. Some digital services, such as cloud-enabled digital core, blockchain-based product tracking, use of the internet of things, etc., are likely to transform biopharmaceutical companies' approach to clinical supplies management by incorporating valuable insight from multiple data sources, improving patient experience, boosting clinical trial productivity, and enhancing the quality of data collected during trials.
In June 2020, for instance, Almac Clinical Technologies, a subsidiary of the Almac Group, unveiled Simplify, an IRT solution of the next generation. It has a standard set of adjustable features to speed up the study initiation procedure.
Due to the increasing number of clinical trials, North America's clinical trial supply and logistics market were the largest in the world. In North America, the industry is driven by technology improvements, government financing, and the rising incidence of diseases. Due to a more significant number of large-scale pharma R&D clinical trials undertaken in this region, the regional headquarters of significant CROs and biopharmaceutical companies are located in this region. In addition, North America is the largest market for clinical trial supply & logistics. The most effective regulation of clinical trials with advanced therapies like electronic records and signatures, protection of human subjects, and good clinical practices for non-clinical laboratory studies facilitate the overall clinical trial studies. The clinical trial supply & logistics market in North America has the greatest market size and is anticipated to experience substantial expansion during the forecast period.
The US market dominated the North America 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 $1,488.9 Million by 2028.The Canada market is poised to grow at a CAGR of 9% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 8% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Clinical Trial Supply & Logistics Market is Predict to reach $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)
By End-user
By Therapeutic Area
By Phase
By Service
By Country
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