Clinical Logistics Industry Is Expected To Grow Due To The Rising Number Of Clinical Trials Conducted Globally Till 2027 | Grand View Research, Inc.
Procurement Outlook
Clinical logistics is the specialized field of clinical trial supply chain management that deals specifically with clinical trials. It includes medical transportation, patient flow optimization, inventory control, distribution, warehousing, healthcare technology services such as remote monitoring equipment for patients in long-term care facilities or at home. Clinical logistics connect pharmaceutical and medical devices companies to healthcare providers. Clinical logistics service providers handle transportation of goods, distribution, and warehousing for healthcare products or raw materials, fulfillment of orders, tracking inventory levels, temperature-controlled shipping, etc.
Demand Outlook
The global clinical trial logistics market was valued at ~USD 2 billion in 2020 and it is expected to grow at a CAGR of 7% from 2020 to 2027 due to increasing R&D expenditure by pharmaceutical and biopharmaceutical firms and the rising number of clinical trials conducted globally. North America is leading the market with more than 35% share in 2020 followed by APAC and Europe. The conventional supply chain of clinical logistics has witnessed significant changes within the last two years due to Covid-19 and the widespread adoption of the remote trial approach. Direct-to-patient approaches were used to manage the various logistical constraints of remote trials. Global reach is more easily achievable for sponsors with decentralized trials. The pandemic has boosted the acceptance of such trials and it is expected to bolster the growth of the global clinical logistics industry during the forecast period.
Grab your copy, or request for a free sample of the “Clinical Logistics Industry Procurement Intelligence Report, published by Grand View Research” for In-depth details regarding supplier ranking and selection, sourcing, and pricing criteria & strategies.
Cost Drivers
Clinical logistics cost is around 20-30% higher than logistics cost of other commodities. Transportation, warehousing, inventory carrying, and administrative costs are the major cost component of clinical logistics services. Transportation costs are the largest cost component with more than 50% share in overall clinical logistics services. The mode of transportation varied case-to-case basis. However, transportation cost is higher for products involve in critical clinical trials.
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
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