The global clinical trial packaging market is predicted to expand at a healthy CAGR of 7.4% during forecast period 2020 to 2027 and rise to a valuation of US$1.97 bn by the end of 2027.
The study has considered the base year as 2019, which estimates the market size of market and the forecast period is 2020 to 2027. The report analyzes and forecasts the market size, in terms of volume (thousand units) and value (USD million), for the market. The report provides a detailed analysis of various forces acting in the market (drivers, restraints, opportunities, and challenges). The report covers key players and comprehensively analyzes their market shares and core competencies. It also tracks and analyzes competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry participants.
The global clinical trial packaging market has witnessed impressive growth in the past decade, due to growing pharmaceutical packaging products trade across the globe. The demand of clinical trial packaging has witnessed an upstick in the recent past. Clinical trial packaging manufacturers are investing in research and development process that can create sustainable solution for the industry.
Clinical trial packaging market manufacturers are mainly emphasizing on expanding their geographical footprint through mergers and acquisitions. Growing importance of booklet labels is one of the trend of clinical trial packaging. Clinical trial manufacturers are setting up operations in markets with strategic advantage. Packaging manufacturers serving the clinical trials are investing in setting up and expanding their operations in markets that have geographic and economic strategic advantage. North America and Europe, manufacturers of clinical trial packaging are considering investing in regions such as Eastern Europe that have strategic advantage due to its geographic location.
High Incidence of Chronic Diseases to Propel Market
The higher rate of occurrence of chronic diseases such as HIV, cancer, and epilepsy is a key factor responsible for the growth of the clinical trial market. The surge in demand in the market is leading to increased outsourcing of drug discovery services and efforts are being undertaken to determine the toxicity level in the early stages of drug discovery, which may lead to the clinical trial packaging market growth.
Increasing emphasis on the research and development in various countries coupled with rising government funding for development of new drugs is predicted to help augment the growth of the market. New entrants in the market are focusing on launching new products and adopting new technologies, which is further influencing the market in a positive way. Lack of infrastructure and inadequate trained professionals are factors that are restraining the clinical trial supplies market to some extent.
Increased Use of Plastic in Packaging to Boost Growth
A variety of plastics have emerged in the packaging industry in the recent years and have led to rapid advancements in technology including extrusion blowmoulding, injection blowmoulding, and 3-D designing software tools for the improvement of product designs. Currently plastic accounts for a large share in the global clinical trial packaging market, however, the negative environmental impact of the accumulation of non-biodegradable and non-recyclable plastics is compelling companies to focus on the development of sustainable products such as bio-based plastics.
The global clinical trial packaging market is predicted to witness robust growth in the upcoming years, on account of the rise in the number of clinical trials across the globe, the outcome of which is the emergence of the clinical trial packaging market. Due to rising number of discoveries of new drugs in research laboratories across the world, the global clinical trial packaging market is receiving a considerable lift.
North America and Europe to Present Lucrative Growth Opportunities
Geographically, the market for clinical trial packaging has been covered for five regional markets, namely North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. The market in North America accounts for nearly 53% of the global market and is expected to register a CAGR of 7.7%, during the forecast period. The well-established pharmaceutical industry in the region and the highly conducive regulatory environment for research and development activities are the key factors responsible for the strong growth prospects of the clinical trial packaging market. Europe is also considered to be a lucrative regional market owing to the presence of several leading pharmaceutical companies. The regional market is projected to exhibit a 7.1% CAGR over the forecast period.
With a thriving contract manufacturing industry, the Asia Pacific market for clinical trial packaging is also likely to witness promising growth opportunities. The region is projected to register a CAGR of 3.6% over the forecast period. India and China markets are anticipated to lead the APAC clinical trial packaging market, thanks to their increasing manufacturing capabilities with leading pharmaceuticals companies looking to achieve economies of scale.
Some of the leading companies in the global clinical trial packaging market are Bilcare Limited, Westrock Company, Fisher Clinical Services, Almac Group Limited, Sharp Clinical Services, Inc, PAREXEL International Corporation, The Coghlan Group, Piramal Enterprises Ltd, Corden Pharma GmbH, Xerimis Inc, WuXi AppTec, Pharmaterials Ltd, PCI Pharma Services, Mawdsley-Brooks & Co. Ltd, NextPharma Technologies, Sentry BioPharma Services, Körber Medipak Systems AG, DMB Consultancy.
The market is segmented along the following lines:
The Clinical Trial Packaging market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Clinical Trial Packaging market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Clinical Trial Packaging market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Clinical Trial Packaging market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Clinical Trial Packaging market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Clinical Trial Packaging capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Clinical Trial Packaging by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Clinical Trial Packaging market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Clinical Trial Packaging market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Clinical Trial Packaging market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Clinical Trial Packaging industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Clinical Trial Packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Clinical Trial Packaging market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Clinical Trial Packaging market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Clinical Trial Packaging market. These factors have benefited the growth of the global market for Clinical Trial Packaging. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Clinical Trial Packaging. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Clinical Trial Packaging are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: