Clinical Trial Kits Market is likely to reach US$ 4.6 Bn by the end of 2032 with a projected CAGR of 12.3%
Market Study on Clinical Trial Kits: Direct-to-Patient Clinical Trials Shaping the Clinical Trial Kits Demand
Clinical Trial Kits Market by Service Type - Kitting Solutions (Drugs Kits | Sample Collection Kits)
NEW YORK CITY, NEW YORK , UNITED STATES, April 28, 2023 /EINPresswire.com/ -- The global clinical trial kits market was valued at around US$ 1.3 Bn in 2021. With a projected CAGR of 12.3% for the next ten years; the market is likely to reach a valuation of US$ 4.6 Bn by the end of 2032. The increasing number of clinical trials performed globally is driving the clinical trial kits market.
The clinical trial kits is a growing industry that provides necessary tools for conducting clinical trials. Clinical trials are essential for testing new drugs, medical devices, and other treatments. The kits provide the necessary supplies and equipment for collecting data, monitoring patients, and analyzing results. The market for clinical trial kits is driven by the increasing demand for innovative treatments and the need to streamline clinical trials.
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The demand for clinical trial kits has increased as pharmaceutical and biotechnology companies strive to develop new drugs and treatments. These companies conduct clinical trials to test the efficacy and safety of their products. The kits provide necessary tools for conducting these trials, such as blood collection tubes, swabs, centrifuges, and storage containers. The increasing number of clinical trials being conducted has led to a growing demand for clinical trial kits.
Companies
Azenta Life Sciences
Q2 Solutions
Patheon (Thermo fisher scientific)
LabCorp drug development
Charles River Laboratories
LabConnect
Almac group
Precision medicine group
Cerba research
Alpha Laboratories Ltd
Marken SAS
Clinigen
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The clinical trial kits market is also being driven by the need to streamline clinical trials. Clinical trials are expensive and time-consuming, and researchers are constantly looking for ways to make the process more efficient. Clinical trial kits provide a standardized set of tools and supplies, which can reduce the variability in data collection and make it easier to compare results across trials. This standardization can help reduce costs and accelerate the development of new treatments.
The market for clinical trial kits is also being driven by technological advancements. New technologies are being developed that can improve the accuracy and speed of data collection and analysis. For example, digital health technologies such as wearables and mobile apps can provide real-time data on patient health and behavior. Clinical trial kits that include these technologies can help researchers collect more accurate data and make more informed decisions.
Competitive Landscape
At present, clinical trial kit manufacturers are largely actively expanding their manufacturing facilities to boost production. The key companies operating in the clinical trial kits market include Azenta Life Sciences, Q2 Solutions, Patheon (Thermo fisher scientific), LabCorp drug development, Charles River Laboratories, LabConnect, Almac group, Precision medicine group, Cerba research, Alpha Laboratories Ltd, Marken SAS, and Clinigen.
Some of the recent developments by key providers of clinical trial kits are as follows:
In May 2022, LabCorp drug development received emergency use authorization from FDA for the first Non-prescription At-Home collection Kit for combined Covid-19, Flu, and RSV detection.
In June 2021, UPS's healthcare Clinical trials unit of Marken announced a partnership with THREAD, a decentralized clinical trial technology provider, to create a unified decentralized trial solution in patients’ homes. The partnership between Marken Home Healthcare and Clinical Trial Logistics Services provides a single workflow for patients and clients by having a partnership of Marken's Home Healthcare and Clinical Trial Logistics Services.
In June 2021, Daxion Technologies and Q2 Solutions collaborated to develop a new blood test that will help patients to obtain their blood from any location. The new lab test, which works with Tasso's devices, will help patients collect their blood from anywhere.
In March 2021, LabConnect announced the expansion of its Johnson City facility to boost the manufacturing of clinical trial kits. The expansion includes the addition of 20,000 square feet to the facility, which will triple the kit building capacity.
In January 2021, Almac Diagnostic Services a subsidiary of Almac group enter a strategic partnership with Personal Genome Diagnostics Inc. (PGDx) to improve clinical trial development and companion diagnostic (CDx) projects.
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The clinical trial kits industry survey covers a wide range of segments that are important to the market's growth and development. Some of the key segments covered in the survey include:
Type of kit: The clinical trial kits market offers a wide variety of kits that cater to different requirements of clinical trials. The survey covers segments such as blood collection kits, sample collection kits, monitoring kits, and others. This segment is important as it helps to understand the demand for each type of kit in the market.
End-users: The clinical trial kits market caters to various end-users such as pharmaceutical companies, biotechnology companies, clinical research organizations (CROs), and academic research institutes. The survey covers the demand for clinical trial kits from each of these end-users to understand the market's demand and growth potential.
Region: The clinical trial kits market is segmented by regions such as North America, Europe, Asia-Pacific, and Rest of the World. The survey covers the demand for clinical trial kits in each of these regions to understand the regional market's growth potential.
Type of trial: The clinical trial kits market caters to different types of clinical trials such as Phase I, II, III, and IV trials. The survey covers the demand for clinical trial kits for each type of trial to understand the market's demand and growth potential.
Application: The clinical trial kits market caters to different applications such as oncology, cardiovascular diseases, neurological disorders, and others. The survey covers the demand for clinical trial kits for each application to understand the market's growth potential.
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