Clinical Trial Equipment & Ancillary Solutions Market Forecasts by Global Industry Analysis Report 2030

Clinical Trial Equipment & Ancillary Solutions Market Growth & Trends

The global clinical trial equipment & ancillary solutions market is expected to reach USD 5.09 billion by 2030, expanding at a CAGR of 8.1% over the forecast period according to a new report by Grand View Research, Inc. The growing pharmaceutical and medical sectors, globalization of clinical trials, and rising R&D expenditure are the factors driving the market. However, The COVID-19 pandemic has affected the global market, which resulted in slowing down the supply chain of the equipment & ancillary supplies. The COVID-19 pandemic has caused major changes in the clinical trial environment. Hundreds of experiments that were in progress before the pandemic was halted due to COVID-19 globally.

U.S. clinical trial equipment & ancillary solutions market size, by product, 2020 - 2030 (USD Million)

Clinical Trial Equipment & Ancillary Solutions Market Segmentation

Grand View Research has segmented the global clinical trial equipment & ancillary solutions market based on product, phase, and region:

Based on the Product Insights, the market is segmented into Sourcing, Supply/Logistics, Service and Others.

  • The supply/logistics segment dominated the market and accounted for the largest revenue share of 38.69% in 2021. As clinical trials have become more global and diverse, they require a proper cold chain logistics system to maintain the integrity of temperature-sensitive drugs. Fluctuation in rules & regulations in emerging markets is expected to boost the need for supply/logistic services during the forecast period.
  • The sourcing segment on the other hand is anticipated to witness a considerable growth rate of 7.9% across the forecast period. 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. The challenge of ensuring that supplies reach sites in a cost-effective manner for worldwide research has increased. With sourcing and distribution expertise, there is a single point of contact to supply and transport equipment and ancillary supplies all over the world. This streamlined and coordinated procedure removes the strain on both clinical trial teams and facilities.

Based on the Phase Insights, the market is segmented into Phase I, Phase II, Phase III, Phase IV.

  • The phase III segment accounted for the maximum revenue share of the global market of 53.9% in 2021. The segment is likely to remain dominant even during the forecast years. Clinical studies in phase III are more complicated than those in earlier stages. Even though the number of medicines in this phase is relatively minimal, the complications associated with this phase are the largest.
  • The phase I segment is poised to witness significant growth across the forecast period due to the increasing number of pharmaceutical companies focusing on developing novel therapeutics for rare diseases. Growth in the number of CROs across the world is another factor supporting the adoption of phase I clinical trials to boost the rapid development of drugs.

Clinical Trial Equipment & Ancillary Solutions Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Market Share Insights

  • September 2021: Ancillare acquired NG BV in the Netherlands. The acquisition strengthens Ancillare's supply chain capabilities in the pharmaceutical products area, offering sponsors worldwide greater control and supply chain transparency.
  • July 2021: Parexel announced an inventive collaboration with Cancer Hospital Chinese Academy of Medical Sciences (CHCAMS) to design patient-centric protocol designs and methodologies for decentralized clinical trials in China. This will also involve quantitative research to enhance the clinical trial experience of oncology patients.

Key Companies Profile & Market Share Insights

Mergers, acquisitions, expansions, and collaborations, are the key strategies adopted by key players to maintain their market share.

Some of the prominent players operating in the global clinical trial equipment & ancillary solutions market include,

  • 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

Order a free sample PDF of the Clinical Trial Equipment & Ancillary Solutions Market Intelligence Study, published by Grand View Research.

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