Global Clinical Trial Supply and Logistics Market Size, Share, Growth, Trends, and Forecast 2018 to 2026

Clinical Trial Supply and Logistics Market

As pharmaceutical companies strive to standardise and harmonise their commercial and clinical supply chain processes, clinical supplies are becoming more prominent. Information silos make accurate planning difficult while also adding unnecessary costs and barriers. Companies are experiencing a lack of visibility along the end-to-end clinical supply chain in terms of actual inventory at clinical facilities, inbound and outbound shipments, actual patients, and dispensing schedules. However, there is also a lack of integration among many clinical supply chain partners.

The global Clinical Trial Supply and Logistics Market size was valued at US$ 14.95 Bn in 2017 and is expected to witness a CAGR of 7.1% over the forecast period (2018–2026).

Furthermore, the United Kingdom's (UK) exit from the European Union (EU) has created a slew of logistical issues for clinical trials. These are related to customs and borders, VAT administration, and the requirement for sites and suppliers to obtain Exporter of Records Identification (EORI) numbers. Companies that hire CDMOs based in the United Kingdom are likely to face these complications. For the time being, they must continue to use UK firms due to specific Investigational Medicinal Product Dossier (IMPD) or Clinical Trial Authorization (CTA) requirements from regulatory bodies, which require them to maintain the same manufacturing and packaging addresses. In Europe, they must also handle VAT reclaims and additional qualified person (QP) releases. This requires time and money, as well as collaboration with other supply-chain partners.

 The global Clinical Trial Supply and Logistics Market is divided into six geographic segments based on geography: North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Due to the adoption of technologically advanced goods, the presence of well-established regulatory bodies, and the concentration of major Contract Research Organizations (CROs) and biopharmaceutical business hubs, North America is predicted to have a dominating position in this market. Additionally, the expansion of the clinical trial supply and logistics market in this region is being fueled by factors including better healthcare facilities and a better reimbursement environment. Over the projected year, more new vendors are anticipated to attempt to enter the healthcare sector, as numerous niche market players attempt to boost their market share through new medical inventory drug use. They will also need clinical trial supply management to reduce internal capacity, such as site maintenance and employee headcount, in order to lower costs across all areas of the organisation. Thus, rising economies like those in Asia Pacific and Latin America have enormous market growth potential and are anticipated to experience the quickest growth during the projection period.