Companies leading in the clinical trial packaging market are Almac Group, Stevanato Group, Bilcare Ltd, Lonza Group Ltd, Piramal Pharma Solutions, MM Packaging GmBH, Clinigen Limited, Körber AG, PCI Pharma Services, Yourway, Sharp Services LLC and more players profiled.
Pune, India, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The global clinical trial packaging market size touched USD 3.51 billion in 2022 and is predicted to reach USD 3.80 billion in 2023 and market is anticipated to touch USD 7.05 billion by 2030, recording a CAGR of 9.24% over 2023-2030. Automate Robotics
Clinical trials are conducted to evaluate a drug's effectiveness and determine the most appropriate dosage for various pharmaceutical formulations. Clinical trial packaging methods are employed to pack, store, safeguard, and ship products used in these trials.
Fortune Business Insights™ shares this information in its report titled “Clinical Trial Packaging Market, 2023-2030.”
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List of Key Players Profiled in the Clinical Trial Packaging Market Report are:
Piramal Pharma Solutions (U.S.)
PCI Pharma Services (U.S.)
Sharp Services LLC (U.S.)
BAP Pharma Ltd (U.K.)
Report Scope & Segmentation:
Report Attributes
Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Clinical Trial Packaging Market Growth Drivers
The pharmaceutical industry is witnessing an immense surge in demand for blisters, propelling them to the forefront of the global market.
The growth of this segment is being expedited by a rising number of clinical trials in research laboratories
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Plastic Segment Dominates the Market owing to its Portability and Affordability
On the basis of material, the market is divided into plastic, glass, metal, and paper & paperboard. Plastic material holds the highest global market share due to its extensive usage in clinical trial packaging. The primary qualities of plastic, including portability, affordability, and ease of handling, make it a preferred choice for manufacturing clinical trial packaging products.
Huge Demand for Blisters in the Pharmaceutical Industry Takes Them to Forefront in the Global Market
By product type, the market is classified into syringes, bottles, blisters, tubes, vials & ampoules, bags & pouches, sachets, and others. The blister segment dominates the global market. The increasing demand for blisters in the pharmaceutical sector after the COVID-19 pandemic outbreak is driving segment growth. The surging need for blisters for many crucial medicines also supports segment expansion.
Increasing Clinical Trials in Research Laboratories is Accelerating Segment Growth
In terms of end-users, the market is categorized into drug manufacturing companies, research laboratories, and clinical research organizations. Research laboratories is the leading end-user segment globally. The increase in clinical trials in research laboratories, driven by study-specific blinding and specific reference intervals provided by these labs, fosters segment growth. COVID-19 Impact:
Increased R&D initiatives for Producing Novel Drugs and Vaccines amid Pandemic Boosted Market Expansion
The COVID-19 pandemic significantly impacted the clinical trial packaging market growth. Stringent regulations during the pandemic led to disruptions in the supply chain. However, the exclusion of necessities had a limited impact on market growth. Increased Research and Development (R&D) initiatives for producing novel drugs and vaccines to combat COVID-19 resulted in a substantial increase in clinical trial packaging.
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
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Rise in R&D Initiatives in Biotech and Pharmaceutical Organizations is Enhancing Market Growth
Effective approaches to identify and treat various diseases are discovered through clinical trials. The surging adoption of clinical trials and a rise in R&D initiatives in biotech and pharmaceutical organizations are key factors driving market growth. The trend of outsourcing drugs for clinical trials and new drug discoveries is contributing to market growth. Clinical trials are gaining traction among patients due to the growing prevalence of chronic and lifestyle diseases. These factors are expected to propel market growth over the forecast period.
However, stringent regulations by government bodies regarding the usage of certain packaging materials, such as plastic, are hampering market growth.
North America Leads due to the Region’s Booming Pharmaceutical Industry
North America holds the highest global clinical trial packaging market share. The well-established pharmaceutical industry and the presence of prominent market players in the region are projected to boost market expansion during the forecast period.
Europe is the second leading region and is anticipated to register massive growth over the projected period. Market growth is fueled by the European Medicines Agency’s regulatory standards, specifically for devices and medicines used in clinical trials. The rapid expansion of the R&D sector is boosting market development in Europe.
Leading Companies Focus on Introduction of Advanced Packaging Solutions to Stay Competitive
The global market is tremendously fragmented and competitive. Top clinical trial packaging solution providers are focusing on offering advanced and effective packaging solutions in the packaging industry.
February 2023: Gerresheimer announced the introduction of a new Clinical Trial Kit at Pharmapack, Paris. The kit is designed to assist in the early stages of development & manufacturing of new drugs, vaccines, and biologics and contains sterile Gx RTF vials in a nest & tub or tray along with equivalent closures.
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Key Emerging Trends – For Major Countries
Impact of COVID-19 on the Clinical Trial Packaging Market
Global Clinical Trial Packaging Market Analysis (USD Billion), Insights and Forecast, 2019-2030
Market Analysis, Insights and Forecast – By Material
Market Analysis, Insights and Forecast – By Product Type
Market Analysis, Insights and Forecast – By End-User
Market Analysis, Insights and Forecast – By Region
North America Clinical Trial Packaging Market Analysis (USD Billion), Insights and Forecast, 2019-2030
Market Analysis, Insights and Forecast – By Material
Market Analysis, Insights and Forecast – By Product Type
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