The global clinical trial supply market’s size was valued at 2.3 billion USD in 2021 and is expected to expand at a compounded annual growth rate (CAGR) of 6.9% from 2022 to 2030. The growth is attributed to globalization, a rise in the number of clinical trials and an increase in the number of biologics & biosimilar drugs in clinical trials.
The clinical trial supply market is divided into three major categories. These include manufacturing, storage & distribution and supply chain management. The manufacturing segment is anticipated to witness the fastest CAGR of 7.4% during the forecasted period.
Moreover, being that total healthcare costs have increased due to high-priced patented pharmaceutical drugs, especially biologics, governments are pushing towards the development of biosimilar drugs. These drugs intend to offer comparable safety and efficacy relative to reference brand biologicals.
Biosimilar clinical trials require class-specific regulatory approval pathways, and their average cost break over a biologic clinical trial ranges only from about 10% to 20%, leaving plenty of profit for both the original biologic and the biosimilar developers.
The expected growth in both these markets alongside the pharmaceutical drug clinical trial supply market, which accounts for the highest number of drugs in the clinical trial segment, is said to propel a major growth in the clinical trial supply market globally.
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Sample data: Adalimumab biosimilars sample data.
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