CHICAGO, July 7, 2021 /PRNewswire/ — According to the new market research report “Clinical Trial Supplies Market by Services (Manufacturing, Packaging, Logistics, Distribution), Phases (I to IV), Type (Small molecule, Biologics, Medical Devices) Therapeutic Areas (Oncology, CNS, CVD, Infectious, Immunology) – Global Forecast 2026″, published by MarketsandMarkets™, the global market is projected to reach USD 2.9 billion by 2026 from USD 1.9 billion in 2021, at a CAGR of 8.5% during the forecast period of 2021 to 2026.
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237 – Tables
47 – Figures
242 – Pages
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The market growth is largely driven by the increasing R&D expenditure in pharmaceutical and biopharmaceutical companies and the growing number of clinical trials conducted globally. However, the increasing cost of drug development and clinical trials is expected to restrain the growth of this market during the forecast period.
The logistics and distribution segment accounted for the largest share of the services segment in the clinical trial supplies market in 2020.
Based on the service, the market is segmented into manufacturing; packaging, labeling, and blinding; comparator sourcing; logistics & distribution; storage & retention; and other services. Logistics & distribution services accounted for a share of around 26%. This segment is estimated to grow at the highest…