The clinical trial equipment and ancillary solutions global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Clinical Trial Equipment And Ancillary Solutions Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size - The clinical trial equipment and ancillary solutions market size has grown strongly in recent years. It will grow from $2.34 billion in 2023 to $2.54 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to rising prevalence of chronic diseases, increasing spending on research, growing pharmaceutical sector, growing medical sectors, growing patient-centric clinical trials .
The clinical trial equipment and ancillary solutions market size is expected to see strong growth in the next few years. It will grow to $3.59 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to rising prevalence of chronic diseases, increasing spending on research, growing pharmaceutical sector, growing medical sectors, growing patient-centric clinical trials. Major trends in the forecast period include technological advancements, advancements in ancillary solutions, advanced developmental services, development of innovative equipment, developing innovative therapies.
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Scope Of Clinical Trial Equipment And Ancillary Solutions MarketThe Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Clinical Trial Equipment And Ancillary Solutions Market Overview
Market Drivers -The increasing prevalence of chronic diseases is expected to propel the growth of the clinical trial equipment and ancillary solutions market going forward. Chronic disease is a long-lasting condition that typically requires ongoing medical attention and can limit daily activities or quality of life. The prevalence of chronic diseases is due to exposure to air pollution, chemicals, toxins, lifestyle changes, and genetic factors. Clinical trial equipment and ancillary solutions are invaluable tools for improving outcomes in chronic disease patients by enabling early detection, personalized treatment approaches, objective assessment of treatment efficacy, safety monitoring, patient engagement, optimized trial design, regulatory compliance, and research collaboration. For instance, in January 2024, according to the Australian Institute of Health and Welfare (AIHW), an Australia-based government agency for public health, approximately 20,000 fatalities in Australia were linked to chronic kidney disease, accounting for 12% of the total mortality rate in 2021. Furthermore, in May 2021, according to the National Library of Medicine, a US-based medicine library, the global cancer burden is expected to be 28.4 million cases in 2040, a 47% rise from 2020. Therefore, the increasing prevalence of chronic diseases drives the clinical trial equipment and ancillary solutions market.
Market Trends - Major companies operating in the clinical trial equipment and ancillary solutions market are developing integration platforms for clinical trial equipment and ancillary solutions to streamline and optimize workflow efficiency across various clinical trial systems and technologies. An integration platform for clinical trial equipment and ancillary solutions is a centralized platform to seamlessly connect and integrate various tools, technologies, and services used in clinical research. This platform facilitates the exchange of data and information between different components of the clinical trial ecosystem, streamlining workflows, improving efficiency, and enhancing collaboration among stakeholders involved in the conduct of clinical trials. For instance, in March 2022, Vibrent Health, a US-based healthcare company, announced the development of an Ancillary Studies Tool Suite as part of its Digital Health Research Platform. The Ancillary Studies Tool Suite is designed to provide critical integration management tools for seamlessly embedding existing digital apps, sensors, and data collection platforms into longitudinal cohort research.
The clinical trial equipment and ancillary solutions market covered in this report is segmented –
1) By Type: Diagnostic Equipment, Laboratory Instruments, Ancillary Solutions
2) By Service: Rental And Leasing Services, Supply And Logistics Services, Regulatory Compliance Services, Software Services
3)
By End-User: Pharmaceutical And Biotechnology Companies, Contract
Research Organizations (CROs), Medical Device Companies, Others
End-Users
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Regional Insights - North America was the largest region in the clinical trial equipment and ancillary solutions market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the clinical trial equipment and ancillary solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies - Major companies operating in the clinical trial equipment and ancillary solutions market are Thermo Fisher Scientific Inc., Danaher Corporation, Merck KGaA, Agilent Technologies Inc., Iron Mountain Incorporated (IRM), PerkinElmer Inc., Illumina Inc., Sartorius AG, PAREXEL International Corp., Marken, Shimadzu Corporation, Waters Corporation, Bruker Corporation, Eppendorf AG, Tecan Group AG, Mettler Toledo International Inc., Hamilton Company, Repligen Corporation, Labconco Corporation, Ancillare LP, Binder GmbH, Germfree Laboratories Inc., Nuaire Inc., Sheldon Manufacturing Inc., Esco Micro Pte. Ltd.
Table of Contents
1. Executive Summary
2. Clinical Trial Equipment And Ancillary Solutions Market Report Structure
3. Clinical Trial Equipment And Ancillary Solutions Market Trends And Strategies
4. Clinical Trial Equipment And Ancillary Solutions Market – Macro Economic Scenario
5. Clinical Trial Equipment And Ancillary Solutions Market Size And Growth
…..
27. Clinical Trial Equipment And Ancillary Solutions Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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