Rising at 8.3% CAGR, Clinical Trial Kits Market Size to Gain Value of USD 2.85 Billion by 2030
According to the research report, the global clinical trial kits market share was valued at USD 1.42 billion in 2021 and is estimated to reach USD 2.85 Billion by 2030, growing at a CAGR of 8.3% during the forecast period.
Every clinical trial sample is worth the effort. If it’s a part of a multisite trial traversing dozens of countries or a problem that is decentralized, including many at-home patients, the journey of samples or the value it delivers starts with a clinical trial collection kit. The design of the equipment is crucial that all obligatory substances are obtainable when required and in the most practical and functional method to boost both conformities to the clinical trial protocol and adaptable for investigators. There should be proper labeling and an understanding of how the materials will be utilized with the investigators and others staff at the site of the clinical study. If the blood samples are collected in the wrong tube, it may result in improper analysis. Therefore, care should be taken that each step is followed correctly.
The trends toward hybrid and virtual trials have influenced collection kits. For instance, collection kits going to the patient’s home require specialized components and permit patients to self-collect samples. Direct-to-patient kits need exceptional packaging deliberation to guarantee manageable sample packaging and transportation back to the testing lab while bonding to temperature requirements and shipping regulations. This clinical trial model must also capitalize on patient-friendly services like the US postal service or drop-off sites appropriate to the patient’s location.
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- The increasing R&D activities push the clinical trial kits market
The government bodies of many flourishing countries are escalating investments toward R&D activities, and clinical trials are concentrated on varied health conditions. This factor is projected to enhance the opportunities for demand in the global clinical trial kit market. Apart from it, the market is expected to benefit from speedy technological evolution in the healthcare industry.
The favor for home diagnostics solutions has risen at a substantial pace in recent years, mainly post covid-19 pandemic. The notion of testing that is done remotely and observation is procuring traction as a precise and affordable option. Additionally, these solutions can assist in lessening the stress on healthcare professionals who are conversing with the matter of high workloads, particularly with day-to-day testing and patient monitoring activities.
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- North America to emerge as a dominant region with the highest revenue share
The majority of pharmaceutical businesses in the US execute the bulk of the companies in this region. Beneficial government endeavors and the prevalence of the vast number of companies providing technologically advanced services like clinical trial services in the US are driving the expansion of the market.
By service analysis
- The importance of secondary package design to influence the market
Depending on service, the logistics segment dominated the market for clinical trial kits. There is a continuous growth in clinical trial size, providing a rippling impact on pharmaceutical packaging. Secondary packaging design is becoming more crucial so that the risk of product damage is reduced or activation during transportation is lessened.
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By phase analysis
- Control of phase III segment critical for clinical trial kits market
The dominant factor that impacts the need for phase III is the motivation of testing pharmaceutical products in humans to verify the therapeutic efficacy witnessed in phase II on a vast number of patients with a particular disease.
Major global market players include Almac Group, Alpha Laboratories, Brooks Life Science, Cerba research, Charles River Laboratories, Clinigen, LabConnect, Labcorp Drug Development, Marken, a UPS company Patheon, Precision Medicine Group, and Q2 Solutions.
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In September 2021, Syneos Health embarked upon a strategic collaboration with Ride Health to provide non-emergency medical transportation (NEMT) for clinical trial contenders.
In April 2021, IQVIA gained Q2 Solutions, a clinical laboratory service organization from Quest Diagnostics.
Clinical trial kits market: By service
- Kitting Solutions
- Drug Kits
- Sample Collection kits
- Transportation, Warehousing & Storage
Clinical trial kits market: By phase
- Phase I
- Phase II
- Phase III
- Phase IV