In an attempt to save time, money and resources, international pharmaceutical companies are increasingly out-sourcing clinical trials to countries in Asia, Latin America and Eastern Europe.
With squeezed Research and Development (R&D) budgets, Big Pharma is finding greater value in employing Contract Research Organizations (CROs) in emerging nations for the management of clinical trials.
Growth within the clinical supply chain management market is being fuelled by an increase in the number of developmental drugs, an expansion in clinical trial sites, the complexity of clinical trials, and the increase in the total number of procedures undertaken per clinical trial.
Clinical Supply Chain Management (CSCM) is vital in conducting clinical trials. Geographic expansion, the complexity of drugs used in clinical trials and the increased attention of pharmaceutical companies on efficient R&D are the three main reasons for having proper CSCM in place.
Accurate and timely delivery of clinical trial material to the clinical trial site is critical for the success of a clinical trial. The chance of meeting the research milestones increases by considering clinical supply processes from the planning stage of the clinical trials.
In 2012, the total number of clinical trials conducted in the US fell from 60% of the global sum in 2002 to 40%. Europe carried out 25% of all clinical trials in 2010, while East Asia accounted for 10%. Canada, the Middle East, South America and India followed with 6.1%, 4.0%, 3.0% and 2.5%, respectively.
For more information on the clinical supply chain management market, see the latest research: Clinical Supply Chain Management Market Report
Follow us on Twitter @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.