Clinical Trial Supply and Logistics Market Size Expected to Reach USD 8.58 Bn by 2034

The global clinical trial supply and logistics market size was valued at USD 4.03 billion in 2024 and is predicted to hit around USD 7.94 billion by 2033, a study published by Towards Healthcare a sister firm of Precedence Statistics.

The clinical trial supply and logistics market deals with sourcing, packaging, storing, and distributing biotechnological and pharmaceutical products that are required for a clinical trial. Clinical trial supply and logistics play a role in managing drugs, equipment, and data during the clinical trial. Pharmaceutical and biotechnology companies are making efforts to outcompete each other in terms of innovation. Thus, clinical trial supply chain management is becoming important these days. Technological advancements such as blockchain and real-time tracking are expected to make the supply chain more efficient.

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The rising acceptance of AI technologies is revolutionizing the market. Integrating AI can streamline and optimize several processes in pharma and biotech companies. The rapid increase in the number of clinical trials is expected to contribute to market expansion.

According to worldwide clinical trial statistics, there were 2,784 phase I clinical drug trials initiated in 2021, compared to 2,306 phase I trials initiated during the previous year.

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Major Trends in the Clinical Trial Supply and Logistics Market

Shift Toward Decentralized Clinical Trials (DCTs): Decentralized clinical trials (DCTs) have become more popular, especially during and after the COVID-19 pandemic, which increases the trial availability. DCTs allow remote patient participation and reduce the need for physical site visits. According to Clinical Trials Arena, DCT use in 2022 was significantly higher than in 2020. The use of decentralization in Phase I trials increased by 14% in 2022 compared to 2021.
Increasing Usage of Advanced Technologies: Advanced technologies, such as AI and blockchain, are revolutionizing the market. These technologies streamline inventory management, thereby enhancing the supply chain. According to a survey conducted by Deloitte in 2023, about 45%of clinical logistics providers had implemented the Internet of Things (IoT) connected devices. Furthermore, the use of blockchain is increasing in clinical trials among leading firms such as Thermo Fisher Scientific. The number of companies using Blockchain technology to manage clinical trials rose by 20% between 2022 and 2024 to address data integrity.
Rising Focus on Personalized Treatment: The rising interest in a patient-centric approach is boosting the market growth. Personalized treatments such as CAR-T and gene therapy require a holistic logistics management strategy. The Global Alliance for Genomics and Health (GA4GH) recently reported that the number of personalized medicine trials rose to 40% from 2022 to 2023, focusing on the importance of cryogenic storage and temperature-controlled transport systems.

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Source – globenewswire

Tags: biotechnology companies, clinical trial supply and logistics market, Decentralized clinical trials

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