Market Trends of Global Clinical Trial Supply Industry
This section covers the major market trends shaping the Clinical Trial Supply Market according to our research experts:
Biologics Segment is Expected to Witness Significant Growth Over the Forecast Period
Biologics and biosimilars are made from living cells through highly complex manufacturing processes and are expected to witness steady growth, owing to increasing research activities such as the development of biosimilar products, and nanoparticle-based drug delivery systems in the field of genetics and biotechnology. In recent years the use of biologics such as hormones, blood products, vaccines, genes, insulin, and monoclonal antibody (mAb) products are used as the most advanced therapies for the treatment of diseases like Crohn's disease, rheumatoid arthritis, and other autoimmune diseases. The increased widespread use has witnessed significant growth of biologics over the forecast period.
With the rapid increase in the number of cancer cases and increased approaches of researchers for the use of biologics for cancer treatment are driving its market. According to the data by the Centers for Disease Control and Prevention published, the incidence of cancer is expected ti increase by nearly 50%, from 1,534,500 in 2015 to 2,286,300 in 2050. The use of biologics therapy over traditional cancer treatment therapy is increasing as biologic therapies use the body's immune systems and abilities to fight cancer or heal healthy tissue after treatment. For instance, the Journal of Global Oncology 2020, reported that biologics accounted for an overall 55% of the total expenditure on antineoplastic drugs in the health care system. Thus, a higher incidence of cancer cases is driving the growth of biologics, and biologics are expected to witness significant growth due to aforesaid reasons.
North America had the largest regional market for clinical trial supplies till 2027
The reason North America had the largest clinical trial supply market worldwide is due to the rising number of clinical trials worldwide. The increasing technological advancements, government funding, and increasing incidence of diseases resulted to drive the clinical trial supply market in North America. Major CROs and biopharmaceutical companies have their hub in this region because of a higher number of large-scale pharma R&D clinical trials conducted in these regions. Also, North America is the largest clinical trial supply market and the most effective regulation of clinical trials with advanced therapy such as electronic records and signatures, protection of human subjects, and good clinical practices for non-clinical laboratory studies eases the overall clinical trial studies.
North America accounts for the largest number of projects in the Phase 2 trial in 2020 and this trend led to high investments in R&D by industry and other out-of-industry sponsors. For instance, in clinical trials logistic survey in 2021, states that about 60% of clinical trials in phase 2 are outsourced. Due to the high concentration of pharmaceutical leaders, innovative combinations of approved and novel treatments have driven the number of phase 2 trial studies. The high prevalence of cancer in the United States led to the high investment in R&D is another driving feature of the clinical trial supply market in North America. For instance, Cancer.Org Cancer Facts and Figure accounted for 609,360 new cancer cases in 2022 which was 0.12 % higher than reported in 2021. Thus, a increasing incidence of cancer cases reported ever year in North America is driving the clinical trial supply market in that region.
Thus, for the reason mentioned above the clinical trial supply market in North America has the largest market and is expected to show significant growth over the forecast period.
