DUBLIN, Oct. 27, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/n5sdvc/clinical_trial) has announced the addition of the "Clinical Trial Supplies Market by Products & Services, Phases & Therapeutic Areas - Global Forecast to 2020" report to their offering.
The clinical trial supplies market is expected to reach USD 1,274.3 Million by 2020 from USD 904.3 Million in 2015, at a CAGR of 7.1%
The global clinical trial supplies market consists of various products and services that are used in clinical trials. This market is driven by several factors such as globalization of clinical trial activities, increasing R&D investments and government support, rising incidences of various diseases, and increasing expansion activities by CROs.
Increasing patent expiry, the development of generic drugs, and high potential growth in emerging markets are all factors that have opened an array of opportunities for the market. However, factors such as longer approval times for clinical trials are hampering the growth of the global market.
Based on products and services, the clinical trial supplies market is segmented into manufacturing services, packaging and labeling services, and logistics and distribution services. The logistics and distribution segment is expected to account for the largest share of the market in 2015. Globalization of clinical trials and increasing outsourcing services will drive the growth of this market segment.
Based on phases, the market is segmented into phase I, phase II, and phase III. The phase III segment is expected to account for the largest share of this market. Growth in this segment can be attributed to the large sample size of patients and high cost of phase III trials.
Based on therapeutic areas, the clinical trial supplies market is segmented into oncology, cardiovascular diseases, respiratory diseases, central nervous system (CNS) and mental disorders, dermatology disorders, blood disorders, infectious diseases, and others. The oncology segment is expected to account for the largest share of the market in 2015. Increase in cancer incidences and government funding for cancer research are factors driving the growth of this market.
Scope of the Report:
This report categorizes the clinical trial supplies market into the following segments:
By Products and Services: - Manufacturing - Packaging and Labeling - Logistics and Distribution
- Phase I
- Phase II
- Phase III
By Therapeutic Area: - Oncology - Cardiovascular Diseases - Respiratory Diseases - CNS And Mental Disorders - Dermatology - Blood Disorders - Infectious Diseases - Others.
For more information visit http://www.researchandmarkets.com/research/n5sdvc/clinical_trial
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SOURCE Research and Markets