The logistics & distribution segment by product & service is estimated to lead the market growth during the forecast period.

According to a new market research study of “North America Clinical Trial Supplies Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product & Service, Stage, Drug Type, Application, and Country.” The North America clinical trial supplies market is expected to reach US$ 1,364.10 Mn by 2027 from US$ 758.95 Mn in 2019; it is estimated to grow at a CAGR of 7.7% from 2020 to 2027. The report highlights trends prevailing in the North America clinical trial supplies market and the factors driving market along with those that act as hindrances.

Based on product & service, the North America clinical trial supplies market is segmented into manufacturing, packaging & labelling, and logistics & distribution. The logistics & distribution segment held the largest share of the market in 2019; the segment is anticipated to register the highest CAGR in the market during the forecast period. Clinical trial supplies management is necessary for evading overproduction, oversupply, and inventory expiration. With the increasing costs of drug discovery, clinical trial supplies are obtaining more importance. Research and development (R&D) is a significant and essential part of the business of pharmaceuticals and biopharmaceuticals companies. R&D spending by biopharmaceuticals companies has increased over the years. According to a report of Pharmaceutical Research and Manufacturers of America (PhRMA), the R&D expenditure of these companies has increased from US$ 59.6 billion in 2015 to US$ 79.6 billion in 2018. Drug development and discovery is a time-consuming and expensive process. The process stages range from early detection or design to development and regulatory approval, and the entire process can take more than 10–15 years. Throughout the drug development phase, various testing services are required to check the quality and efficacy of the drug substance. Several manufacturers are investing in clinical supplies in the pharmaceutical industry. Therefore, the pharmaceutical and biotech companies are dependent on the supplies for the services to the clinical trials, which is expected to drive the market. Also, advanced health care infrastructure and presence of multinational pharmaceutical and biotechnology companies that carry out clinical trials in North America will bolster the market growth.

The growth of the market is attributed to some key driving factors such as rising investments and government funding for clinical trials and increasing R&D expenditures in the pharmaceutical & biopharmaceutical companies. However, changing regulatory landscape and regulatory complexities across North America is restricting the growth of the clinical trial supplies market.

Thermo Fisher Scientific Inc., UDG Healthcare plc, Catalent Inc., pci Pharma Services, Almac Group, Parexel International Corporation, Biocair, Owens & Minor Inc, Rubicon Research Pvt. Ltd, And Clinical Supplies Management Holdings, Inc. are among the leading companies operating in the North America clinical trials supplies market.

The report segments in North America Clinical Trial Supplies Market as follows:

By Product & Service

• Manufacturing
• Packaging & Labelling
• Logistics & Distribution

By Stage

• Phase I
• Phase II
• Phase III
• Bioequivalence Studies

By Drug Type

• Small-molecule Drugs
• Biologic Drugs

By Application

• Oncology
• Cardiovascular Diseases
• Neurological Disorders
• Respiratory Disorders
• Others

By Country

• US
• Canada
• Mexico