Key growth driver: Clinical trial supply and logistics market
Most pharma vendors are focusing on increasing their distribution channels in developing countries. Several clinical research organizations (CROs) are shifting their bases to Latin America, APAC, and Eastern Europe due to the lower cost of clinical trials in these regions. Moreover, the cost of clinical trials in China is roughly 20% less than what it is in the US. The APAC region has contributed close to $12 billion in 2014 and will grow at a CAGR of approximately 9% in the next four years.
To increase their profit margins, pharmaceutical and biopharmaceutical vendors are outsourcing clinical trial activities to CROs. It has resulted in reduced expenditures and increased investments in R&D to conduct clinical trials. On account of these developments, the clinical trial supply and logistics market is expected to make significant gains during the forecast period. The demand for efficient movement of trial samples between pharma companies, the food and drug administration, and CROs will continue to drive the market in the years to come.
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Geographical segmentation of the clinical trial supply and logistics market
- APAC
- Europe
- North America
- ROW
North America is a key region for conducting clinical trials. Development of new drugs and medical devices in the market has increased the movement of logistics vendors into this market. The rising demand for logistics particularly emanates from mid-sized biopharma companies in North America. To provide efficient clinical trial supplies, logistics vendors in this region have got into strategic partnerships with biopharma companies.
The market in Europe has grown moderately as the demand for clinical trials has reached a saturation in its leading countries such as The UK, France, and Spain. On the other hand, countries such as Russia, Poland, and Turkey present an attractive opportunity for logistics companies.
Market segmentation of clinical trial supply and logistics by end-use
- Biopharma
- Medical devices
The biopharma industry is witnessing a high demand for biotechnology products such as vaccines and blood-related products. These products require specialized cold chain solutions for the movement of temperature sensitive drugs as it involves living cells. An increase in distribution networks due to the growing demand for clinical trials in India and China has prompted many local players to provide alternative models to fulfill local needs. This trend is likely to continue in the coming years, and it is expected to fuel growth in the biopharmaceutical segment.
The market share for logistics vendors catering to the needs of the medical devices segment will witness an increase in the market share in the next four years. The market will also witness mergers of medical device companies leading to an increase in product portfolios to be shipped and this, in turn, will contribute to the clinical trial supply and logistics market growth.
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Leading vendors in the clinical trial supply and logistics market
Pharma companies have taken rapid strides in introducing new drugs and increasing their presence in different areas of therapeutics such as oncology and cardiovascular diseases. It has led to an increase in shipments for logistics vendors. The market is characterized by the presence of many local, regional, and international players.
According to the clinical trial supply and logistics market analysis, the top four players in the are: -
- Deutsche Bahn
- DHL
- FedEx
- UPS
The other prominent vendors in the market are Agility, Air Canada, Avinex, Biocair, Biotech, CEVA, Cold Chain Logistics, Continental Air Cargo, CSafe Global, Helapet, Igloo Thermo, Kerry Logistics, Kheune Nagel, L&M, LifeConEx, Marken, Nordic Cold Storage, Panalpina World Transport, Sorigram, TNT Express, UTi Pharma, VersaCold, and World Courier Management.
Other sections of the report include an analysis of the following
- Key mergers and acquisition in the clinical trial supply and logistics market
- Key vendor developments in the clinical trial supply and logistics market
- Market shares and revenue forecast for APAC, Europe, North America, and ROW
- Strategic alliances and key CRO buyouts in the clinical trial supply and logistics market
- Key drivers, challenges, and trends and their impact on the clinical trial supply and logistics market
- Five forces analysis of the clinical trial supply and logistics market
- SWOT analysis of the leading companies in the clinical trial supply and logistics market