A clinical trial supply chain is more than just logistics. As many biopharmaceutical firms are expanding their operations across the globe, various elements of the trial may experience differences based on local regulations and infrastructure. Planning and management of clinical trial supplies is a complex task. Various factors such as regulatory compliance, temperature sensitivity, and drug safety and security have a considerable impact on costs and timelines of a study. Due to this, sponsors and clinical research organizations (CROs) have started focusing on clinical trial supply management.
Agile IRT/RTSM System for Supply Managers
By way of products and services, the market comprises manufacturing, supply chain management, and storage and distribution. Supply chain management is considered to be the leading segment thanks to advancement in technology and need to control R&D costs.
In the latest Xtalks webinar, industry experts discussed the importance of Agile Interactive Response Technology/Randomization and Trial Supply Management (Agile IRT/RTSM) in clinical trials. These systems allow developments in clinical trial designs and supply chain management. As procedures become more intricate and trials become patient-centric, the implemented system for randomization and clinical trial supply is going to be extremely essential for a better clinical systems strategy. These systems offer flexibility and speed, which can support complex procedures that need quick changes.
Market Insights
According to findings of a research report by Grand View Research, Inc., the global clinical trial supplies market is expected to witness expansion at a strong CAGR of 7% during the forecast period (from 2017 to 2025). Rising number of clinical trials, along with increasing complexity in conducting these trials, is a major growth driver for the global market. In addition, rising number of biosimilar and biologics drugs in clinical trials is estimated to contribute toward global market expansion.
Some of the leading companies operating in the worldwide market for clinical trial supplies are Thermo Fischer Scientific; PAREXEL International Corp.; Biocair International Ltd.; Almac Group Ltd.; Catalent Pharma Solutions; and Sharp Packaging Services.
In-Depth Research Report On Clinical Trial Supplies Market:
https://www.grandviewresearch.com/industry-analysis/clinical-trial-supplies-market
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