The global clinical trial equipment & ancillary solutions market size is expected to be worth around US$ 9.4 billion by 2030, according to a new report by Vision Research Reports.
The global clinical trial equipment & ancillary solutions market size was valued at US$ 6.3 billion in 2020 and is anticipated to grow at a CAGR of 12.2% during forecast period 2021 to 2030.
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Clinical Trial Equipment & Ancillary Solutions Market (By Product: Sourcing, Supply/Logistics, Service, Others; By Phase: Phase I, Phase II, Phase III, Phase IV) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
|Market Size||USD 9.4 billion by 2030|
|Growth Rate||CAGR of 12.2% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Phase|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Ancillare LP; Imperial Clinical Research Services; Woodley Equipment Company Ltd.; Thermo Fisher Scientific, Inc.; PPD, Inc.; PAREXEL International Corp.; MediCapital Rent; Quipment SAS; IRM; Marken; Myonex; Yourway|
The global market will notice critical growth on account of the rising R&D investments, evolving need for clinical trials, and the rapid growth of the pharmaceutical and medical industries. The COVID-19 outbreak has slowed down the process of. As a result of the pandemic, the market is shifting toward a decentralized approach to conducting clinical trials to achieve a high patient retention rate. The pandemic has affected the industry supply chain, resulting in a lack of clinical trial equipment & auxiliary supplies.
On the basis of product, the market is divided into sourcing, supply/logistics, service, and others. The supply/logistics segment dominated the market and accounted for the largest revenue share of more than 48% in 2020. Due to the increasing complexity of clinical trials, the quantity of equipment and ancillary supplies required, as well as the number of diverse suppliers required to supply them, has increased substantially.
On the basis of phase, the global market has been sub-segmented into phases I, II, III, and IV. The phase III segment accounted for the maximum revenue share of the global market of more than 63% in 2020. The segment is likely to remain dominant even during the forecast years. the failure rate is also highest in this phase as the sample size and research design need precise dosing at an optimal level.The failure causes both human and financial damage, and most failures are caused by non-compliance with safety requirements.
North America dominated the global market in 2020 with the largest revenue share of over 51%. This is attributed to the fact that most of the pharmaceutical businesses are located in the U.S. and perform most of their business in this region. Asia Pacific is projected to be the fastest-growing regional market with a CAGR of more than 12% over the forecast period.
- Ancillare, LP
- Imperial Clinical Research Services
- Woodley Equipment Company Ltd.
- Thermo Fisher Scientific, Inc.
- PPD, Inc.
- PAREXEL International Corp.
- MediCapital Rent
- Quipment SAS
- Equipment Servicing
- Phase I
- Phase II
- Phase III
- Phase IV
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
- Saudi Arabia
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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