Clinical Trial Supplies Market – Analysis, Industry Size And Forecast, 2030
The global clinical trial supplies market was valued at USD 2.58 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2030. Several key factors contribute to this growth, including the globalization of clinical trials and the increasing number of biologic and biosimilar drugs under development. As biologics and biosimilars become a larger portion of clinical research, the complexity of managing clinical trial supplies also grows, driving the need for robust supply chain management systems. Efficient management of clinical trial supplies is critical, as they account for a significant portion of biopharmaceutical companies’ R&D expenses. The adoption of advanced supply chain management systems helps companies reduce R&D costs and improve operational efficiency, both of which are essential in today’s competitive pharmaceutical landscape. Moreover, temperature-sensitive drugs and biologics which require specialized...