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Clinical Trial Equipment & Ancillary Solutions Market – Exclusive Report by 360iResearch
The Global Clinical Trial Equipment & Ancillary Solutions Market to grow from USD 3.88 billion in 2022 to USD 7.62 billion by 2030, at a CAGR of 8.78%.
PUNE, MAHARASHTRA, INDIA, November 8, 2023 /EINPresswire.com/ — The "Clinical Trial Equipment & Ancillary Solutions Market by Product (Equipment, Services, Systems), Type (Biologic Drugs, Medical Devices, Small Molecules), Phase, End-Use, Indication – Global Forecast 2023-2030" report has been added to 360iResearch.com's offering.
The Global Clinical Trial Equipment & Ancillary Solutions Market to grow from USD 3.88 billion in 2022 to USD 7.62 billion by 2030, at a CAGR of 8.78%.
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Clinical trial equipment & ancillary solutions are specialized medical equipment and services used during clinical trials to accurately and effectively evaluate treatments, drugs, and devices. This equipment includes patient monitors, imaging systems, laboratory instruments, and automated data collection systems. It also includes ancillary services such as clinical trial management and regulatory support. Clinical trial equipment & ancillary solutions are essential components of any successful clinical trial as they provide the necessary tools and resources to ensure participants' safety and the trial results' accuracy. An ancillary solution for clinical trial equipment includes any tools, services, or products used to assist in completing a clinical trial. Rising investment in R&D activities for clinical trial equipment and ancillary solutions drives market growth by fueling innovation, improving data quality, expanding product offerings, ensuring regulatory compliance, addressing evolving trial needs, and attracting new market participants. Outsourcing clinical trial activities provides cost-effectiveness, access to expertise, expanded reach, streamlined operations, regulatory compliance, and scalability, further increasing the use of clinical trial equipment & ancillary solutions. Data security risks associated with cloud-based clinical trial solutions, such as unauthorized access and data breaches, create concerns about confidentiality, regulatory compliance, data integrity, and cybersecurity, hampering the clinical trial equipment & ancillary solutions market growth. Moreover, rising regulatory approvals for clinical trial equipment and government support, which increased trial activity, adoption of advanced technologies, innovation, and streamlined regulatory processes, have created market opportunities in the forecasted period.
Indication: Rising preferences for clinical trial equipment to analyze digestive disorders
Clinical trial equipment enhances the workflow of clinical investigation of blood disorders by providing computerized, highly specialized hematology analyzers for analyzing red and white blood cells, hemoglobin, and blood platelets in a blood sample. Clinical trial equipment such as the microscope, gastroscope, and duodenoscope is preferred in analyzing metabolic disorders and digestive disorders clinical trials to enhance the clinical outcomes during clinical investigation. Equipment and ancillary solutions are available for acute myelogenous leukemia, anemic cancer, and chronic myeloid leukemia disease conditions for oncology clinical studies. Medical imaging equipment and smart wearable devices are employed in the clinical trials of cardiovascular diseases, central nervous system (CNS) & mental disorders, infectious diseases, and metabolic disorders depending upon the indication to organize clinical trials effectively.
End-Use: Expanding application of clinical trial equipment in biotechnology & pharmaceutical companies
Clinical trial equipment and ancillary solutions are utilized in drug development, monitoring patient progress during a clinical trial executed by contract research organizations (CROs), pharmaceutical companies, and biotechnology companies. Clinical trial equipment and ancillary solutions improve protocol adherence and ensure compliance with medical device companies' regulatory standards. Academic & research institutes provide educational support to participants and staff for optimum performance in clinical trials.
Product: Growing utilization of ancillary sourcing services for equipment leasing & rental services
In clinical trials, ancillary supplies equipment refers to the specialized tools, devices, and instruments necessary for the clinical trials processes, operations, or system. Ancillary supplies provide essential advantages to clinical trials by enabling medical staff to accurately measure data points during a test. Laboratory equipment used in clinical trials includes centrifuges, autoclaves, incubators, cryogenic freezers, and spectrophotometers used to ensure accurate sample analysis. Imaging & diagnostics equipment includes X-ray machines, sonography machines, MRI scanners, CT scanners, spirometers, and laboratory analyzers. Diagnostic equipment used in clinical trials refers to the instruments and devices employed to diagnose, assess, and monitor participants' health status during the test. Ancillary sourcing services include equipment leasing & rental services, procurement, and supply & logistics, a service provided by clinical trial equipment and ancillary solutions providers that focuses on identifying, evaluating, and procuring the materials needed to support the success of a clinical trial. Supply & logistics ancillary sourcing services provide market research and analytical support to help clinical trial sponsors identify the optimal ancillary solutions for their trials. Data management & analysis services in clinical trials offer an organized way to collect, store, and analyze data related to the trial. Maintenance & calibration services in clinical trials are vital in ensuring the safety and accuracy of results achieved, which involve regular inspections, maintenance, and equipment calibration. Regulatory & compliance services in clinical trials are services and solutions that help ensure organizations comply with the rules, regulations, and standards established by a governing body. Site monitoring & support services in clinical trials involve providing ongoing support, monitoring, and oversight for research sites from the trial sponsor throughout the clinical trial process. Training & consulting services in clinical trials educate research staff and investigators on matters concerning best practices, safety procedures, and regulatory compliance. Moreover, a clinical trial management system is essential to effectively plan, manage, and track clinical study portfolios. An electronic data capture (EDC) system is a software application that helps streamline collecting, storing, and securing data from clinical studies.
Phase: Growing usage of clinical trial equipments & ancillary solutions in phase II to assess effectiveness of drug
Phase I clinical trials primarily focus on assessing the security and dosage of a new drug or treatment. Equipment and ancillary solutions used in phase I trials include tools for dose administration, patient monitoring, and safety assessments. During phase I of the development process, pharmacokinetics and tolerance evaluations occur in a trial group comprising 100 people or less, including initial single-dose studies, dose-escalation, and repeated-dose studies in healthy volunteers. Phase II trials assess the effectiveness of a drug or therapy in a larger group of patients, between 100 and 500. The trial aims to discover the product’s preliminary efficacy and side effect profile. Phase III trials involve a larger patient population, around 3,000, and compare the new drug or treatment against existing standard therapies. Phase III trial takes an extended period to study the drug.
Type: Increasing application of clinical trial equipment in the manufacturing process of biological drugs
Medical device clinical trials are examinations undertaken to assess a medical device's safety or performance in terms of its use in treating, preventing, or diagnosing diseases in human subjects. In medical device clinical trials, equipment and ancillary solutions such as patient monitors, imaging systems, diagnostic tools, data management systems, and device calibration equipment ensure accurate evaluation and successful trial outcomes. Clinical trial equipment used in the manufacturing process of biological drugs offers numerous benefits, including increased efficiency and accuracy. In biological drugs, clinical trial equipment results in higher-quality data collection and analysis, which can increase overall efficiency and accuracy in drug production. The commonly used equipment in small molecule clinical trials include high-performance liquid chromatography (HPLC), ultra-high performance liquid chromatography (UHPLC), gas chromatography (GC), dissolution testing apparatus, automated dispensing systems, and centrifuges. Ancillary solutions utilized in the clinical trials space include sample handling, collection, storage, data analysis systems, software solutions for monitoring and tracking patient records, and sample safety and compliance.
Regional Insights:
The clinical trials equipment & ancillary solutions market in the Americas is highly developing due to supportive governmental investments and initiatives for drug discovery and development and significant growth of clinical trial activities in the region. The Asia-Pacific region is an evolving market for clinical trial equipment & ancillary solutions owing to factors such as a large and diverse patient base and low costs that provide significant advantages for conducting clinical trials. Moreover, the stringent government norms in the EMEA region for ensuring the safety and efficacy of clinical trial equipment & ancillary solutions are making the market more competitive and standardized. The various government frameworks, including the European Medicines Agency (EMA), Clinical Trial Regulation 536/2014 (EU-CTR), and regional frameworks, monitor and regulate the use of clinical trial equipment & ancillary solutions in the region.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Clinical Trial Equipment & Ancillary Solutions Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Clinical Trial Equipment & Ancillary Solutions Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Clinical Trial Equipment & Ancillary Solutions Market, highlighting leading vendors and their innovative profiles. These include Almac Group Limited, Ancillare, LP, Avantor, Inc., Axelerist, B. Braun SE, Bio-Rad Laboratories, Inc., Charles River Laboratories International, Inc., Dassault Systèmes SE, Emsere B.V., Eppendorf SE, Eurofins Scientific SE, Global Vision Technologies, Inc., Hitachi, Ltd., IQVIA Holdings Inc., Lonza Group Ltd., MedNet Solutions, Inc., Myonex, Inc., Navitas Inc., Oracle Corporation, Parexel International Corporation, Quanticate International Limited, Quipment SAS, Royal Philips, Thermo Fisher Scientific, Inc., United Parcel Service, Inc., Veeva Systems Inc., Yokogawa Electric Corporation, and Zifo Technologies Private Limited.
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Market Segmentation & Coverage:
This research report categorizes the Clinical Trial Equipment & Ancillary Solutions Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Equipment, Services, and Systems. The Equipment is further studied across Imaging & Diagnostic Equipment and Laboratory Equipment. The Services is further studied across Ancillary Sourcing Services, Data Management & Analysis Services, Maintenance & Calibration Services, Regulatory & Compliance Services, Site Monitoring & Support Services, and Training & Consulting Services. The Ancillary Sourcing Services is further studied across Equipment Leasing & Rental Services, Procurement, and Supply & Logistics. The Systems is further studied across Clinical Trial Management Systems, Electronic Data Capture Systems, and Randomization & Trial Supply Management. The Equipment commanded largest market share of 48.80% in 2022, followed by Services.
Based on Type, market is studied across Biologic Drugs, Medical Devices, and Small Molecules. The Medical Devices commanded largest market share of 52.20% in 2022, followed by Biologic Drugs.
Based on Phase, market is studied across Phase I, Phase II, Phase III, and Phase IV. The Phase I commanded largest market share of 32.09% in 2022, followed by Phase III.
Based on End-Use, market is studied across Academic & Research Institutes, Biotechnology & Pharmaceutical Companies, Contract Research Organizations, and Medical Device Companies. The Biotechnology & Pharmaceutical Companies commanded largest market share of 36.54% in 2022, followed by Contract Research Organizations.
Based on Indication, market is studied across Blood Disorders, Cardiovascular Diseases, CNS & Mental Disorders, Digestive Disorders, Immunology, Infectious Diseases, Metabolic Disorders, and Oncology. The Immunology commanded largest market share of 18.54% in 2022, followed by Oncology.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Finland, France, Germany, Israel, Italy, Netherlands, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 39.35% in 2022, followed by Europe, Middle East & Africa.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Clinical Trial Equipment & Ancillary Solutions Market, by Product
7. Clinical Trial Equipment & Ancillary Solutions Market, by Type
8. Clinical Trial Equipment & Ancillary Solutions Market, by Phase
9. Clinical Trial Equipment & Ancillary Solutions Market, by End-Use
10. Clinical Trial Equipment & Ancillary Solutions Market, by Indication
11. Americas Clinical Trial Equipment & Ancillary Solutions Market
12. Asia-Pacific Clinical Trial Equipment & Ancillary Solutions Market
13. Europe, Middle East & Africa Clinical Trial Equipment & Ancillary Solutions Market
14. Competitive Landscape
15. Competitive Portfolio
16. Appendix
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Clinical Trial Equipment & Ancillary Solutions Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Clinical Trial Equipment & Ancillary Solutions Market?
3. What is the competitive strategic window for opportunities in the Clinical Trial Equipment & Ancillary Solutions Market?
4. What are the technology trends and regulatory frameworks in the Clinical Trial Equipment & Ancillary Solutions Market?
5. What is the market share of the leading vendors in the Clinical Trial Equipment & Ancillary Solutions Market?
6. What modes and strategic moves are considered suitable for entering the Clinical Trial Equipment & Ancillary Solutions Market?
Mr. Ketan Rohom
360iResearch
+1 530-264-8485
ketan@360iresearch.com
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