The global clinical trial packaging market is expected to grow at a CAGR of 7.5% during the forecast period 2021 to 2028. The market is estimated to be driven by rising clinical trial activities coupled with rapid adoption of contract manufacturing in the pharma sector.
The clinical trial packaging solutions are used in various end-use industries for packaging, storing, protecting, and transporting clinical trial products. Clinical trial packaging solutions consist of syringes, vials & ampoules, blisters, tubes, bottles, etc. are predominantly used in research laboratories, clinical research organizations, and drug manufacturing facilities. The TMR team segmented the analysis of clinical trial packaging market based on packaging type, material, and end use. As per TMR analysis, research laboratories in the global clinical trial packaging market is expected to account for a lion’s share of the market, and expected to lead the overall clinical trial packaging market during the forecast period.
Innovative Concepts, Discovery of New Drugs to Fuel Market Growth
Research and development activities within the pharmaceutical sector have shifted gears in recent years, due to the increasing demand for new drugs and therapies– a factor that is expected to bolster the global clinical trial packaging market. The demand for glass bottles is on the rise owing to mounting concerns pertaining to the use of plastic. The consistent surge in the number of chronic diseases cases, including cancer, HIV, and epilepsy is expected to have a strong impact on the development of the global clinical trial packaging market during the assessment period. The rise in the number of research & development, along with the increasing support from governments for the development of new drugs, is anticipated to accelerate the growth of the global clinical trial packaging market during the assessment period.
Some of the factors that could hinder the growth of the clinical trial packaging market include lack of modern infrastructure in underdeveloped and developing regions and scarcity of trained personnel. Market players involved in the current clinical trial packaging market are increasingly focusing on developing their packaging solutions that can withstand filling, handling, transportation, etc. The advent of innovative pharmaceutical packaging concepts, including blow fill seal vials, two-in-one prefilled vial deigns, prefilled syringes, snap off ampoules, and child-resistant packs is projected to provide an impetus to growth of the global clinical trial packaging market during the assessment period.
Companies to Develop New Packaging Solutions to Hinder COVID-19 Spread
The advent of the COVID-19 pandemic is expected to have a strong influence on the clinical trial packaging market in 2020 and beyond. In the current scenario, market players are focusing on the development of new materials to meet packaging requirements during the COVID-19 crisis. The increasing demand for safe, sustainable, and hygienic packaging alternatives for healthcare products and eCommerce transportation is expected to augment the growth of the global clinical trial packaging market during the forecast period. The decline in the consumer demand for plastic packaging is anticipated to drive innovations across the clinical trial packaging market.
Due to the outbreak of the COVID-19 pandemic, the demand for medical device kits and certain medicines has witnessed exponential growth. This factor is expected to fuel the expansion of the global clinical trial packaging market. Furthermore, the contract packaging trend has gained considerable momentum during the COVID-19 crisis. Thus, the demand for pressure sensitive labels, folding cartons, and convenient vial filling has increased. Market players are also estimated to expand their manufacturing capacities during the ongoing pandemic to cater to the surge in the demand.
Current Trend of Contract Manufacturing in Pharmaceuticals Industry Drives Market
Manufacturers Target High Potential Asian Countries
Frequent Need of Booklet Labels in Clinical Trials Augment Sales
COVID-19 Impact: Rise in Clinical Trials Supplements Sales
Some of the key players operating in the global clinical trial packaging market are Bilcare Limited, Westrock Company, Fisher Clinical Services, Almac Group Limited, PAREXEL International Corporation, The Coghlan Group, Piramal Enterprises Ltd, WuXi AppTec, PCI Pharma Services, and Pharmaterials Ltd, among others.
By Packaging Type
By End Use
Clinical Trial Packaging Market by Region
Scope of the Report
A new study on the global clinical trial packaging market, providing forecast for the period of 2021-2028. In the study, growth opportunity for the clinical trial packaging market is witnessed. The report provides valuable insights, which enable readers to make winning business decisions for future growth of their businesses. The report highlights significant factors that are constantly determining the growth of the clinical trial packaging market, untapped opportunities for manufacturers, trends & developments, and other insights across various key segments. Macroeconomic factors that are directly or indirectly affecting market growth are also incorporated in the report.
Key indicators associated with the clinical trial packaging market have been calculated thoroughly in the report. The study enumerates vital market dynamics such as key drivers, challenges, and trends, along with opportunities in the global clinical trial packaging market. A comprehensive study on the value chain, which includes component suppliers, manufacturers, distributors, and end users, has been incorporated in the global market report. Other key aspects laid down in the market include pricing strategy of leading market players and comparative analysis of clinical trial packaging. Furthermore, forecast factors and forecast scenarios of the clinical trial packaging market have been covered in the report to understand future prospects of the market.
A comprehensive evaluation and forecast on the clinical trial packaging market are provided on the packaging type, material, end use, and region.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The clinical trial packaging market is analyzed at both regional and country levels.
The report delivers an exhaustive assessment on the structure of the clinical trial packaging market, in tandem with a dashboard view of all leading company profiles in the report. Every company’s share analysis on market players have also been presented in the report, apart from the footprint matrix of profiled market players. The report depicts the presence of clinical trial packaging manufacturers by leveraging an intensity map. It also highlights key end uses for clinical trial packaging.
A realistic methodology, along with a holistic approach makes the base for sharp insights, which are provided in the clinical trial packaging market for the study evaluation period. The report comprises of detailed information on growth prospects, along with riveting insights into the forecast assessment of the market.
Extensive primary and secondary researches have been employed to garner keen insights into the forecast study of the clinical trial packaging market. The report has further undergone a cross-validation by in-house professionals to make the clinical trial packaging market report one-of-its-kind, with the highest credibility.
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