Almac Announced to Open Facilities for Peptide Production in Northern Ireland

Published: 21 Nov 2024

Author: Precedence Research

Share :

Almac Group, an established pharmaceutical company announced on 6th March 2024 about their plans to open two new purpose-built facilities in Northern Ireland to meet the increasing demands. The first facility will be spread over 32,000 sq. ft and the second one will be of 28,000 sq. ft. These facilities will accommodate the growing demand for commercial, packaging and peptide productions. This will be a big operational boost for their divisions of Almac Pharma Services and Almac Sciences. Since Almac’s ongoing global investment which began in 2022, with this expansion its marks a milestone moment as their investments will surpass $500 million.

The United States Food and Drug Administration (FDA) and Health Canada have a very specific set of strict regulations and rules for overseeing clinical trials and drug approvals. Such compliance by clinical trial supply and logistics key market will continue the dominance of North American region for this market. The region of North America is expected to hit $2.75 billion in the next few years. The Asia Pacific clinical trial supply and logistics market is expected to grow at a CAGR of 8.66% in the next decade.

The continuous efforts by key players for research and development has helped the market growth. The steady adoption of advanced technology has helped the operations run efficiently by organizations. The growing demand for this market is fueled by rising investment in healthcare sector and research for rare diseases. Companies like Almac Group are looking to expand their facilities even further in order to ensure the growing demand is met. The company showed a rise in revenue of 14% till financial year September 2023 in previous year’s (2022) comparison. 

Clinical Trials Supply and Logistics Market Size and Growth

The global clinical trial supply and logistics market size is predicted to increase from USD 3.98 billion in 2024 to approximately USD 7.85 billion by 2033, expanding at a solid CAGR of 7.79% during the forecast period from 2024 to 2033.

Clinical Trial Supply And Logistics Market Leading Players

• Almac Group
• DHL
• Parexel
• Thermo Fisher Scientific (Patheon)
• Marken
• Piramal Pharma Solutions
• UDG Healthcare
• Catalent, Inc.
• FedEx
• Movianto
• Packaging Coordinators Inc.

Recent Highlights from Clinical Trials Supply and Logistics Companies

• In February 2024, FedEx Express, subsidiary of FedEx Corp. is one of largest companies for transportation in the world. They unveiled their ‘FedEx Life Science Center’ in Mumbai, India. This is a milestone for the clinical trial supply chain in India. The new facility will be able to support and meet clinical trials supply and storage and logistics requirements for Indian market and shipping to India from anywhere else in the world. 
• In July 2024, Catalent Inc. completed their $25 million expansion of their clinical supply facility at Schondorf, Germany. The addition will add more storage and temperature-controlled rooms while helping provide packaging, storage and distribution of clinical supply services. This facility is Catalent’s flagship European facility.
• In July 2024, Piramal Pharma Solutions announced their record-breaking revenue year. Over the last five years, the innovation revenue has seen a steady growth. This year surpassed expectations with a revenue growth of almost 50% from previous 35% at the CAGR of 20%. 

We’ve prepared a service to support you. please feel free to contact us at sales@precedenceresearch.com | +1 804 441 9344