USD 2.8 billion
Report ID:
SQMIG35B2071 |
Region:
Global |
Published Date: July, 2024
Pages:
242
|Tables:
121
|Figures:
77
Clinical Trial Packaging Market size was valued at USD 1169.76 Million in 2023 and is poised to grow from USD 1265.8 Million in 2024 to USD 2379.6 Million by 2032, growing at a CAGR of 8.21% during the forecast period (2025-2032).
Clinical trials are scientific investigations carried out to identify more effective methods of illness screening, diagnosis, and treatment. These clinical studies may also demonstrate which treatment modalities are more effective for particular diseases or populations of patients. High-quality data from clinical trials are produced for use in making healthcare decisions. Clinical trials are conducted to provide scientific insights. As a consequence, these investigations adhere to rigid scientific criteria that safeguard patients and aid in the production of trustworthy clinical trial data. Functionality and usefulness are of the utmost significance when it comes to Clinical Packaging because it is used for research.
In rare circumstances, such as in blind research when anonymity is essential to the outcome of the test, images may even be entirely avoided. Clinical trial items are packed, stored, protected, and transported using clinical trial packaging options. Clinical studies are performed to evaluate a drug's effectiveness and determine the best dose for various pharmacological formulations. Clinical trials involve the use of a wide variety of goods, including syringes, bottles, blisters, tubes, ampoules and vials, bags and pouches, and sachets. These medications require unique packaging because standard packaging has a negative impact on clinical trial outcomes, particularly for pharmaceuticals with high sensitivity. The increase in demand for clinical trial packaging has caused the global market to expand rapidly during the past several years. The leading manufacturers are investing in R&D to assist the sector in developing a long-term solution and growing.
US Clinical Trial Packaging Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.8 billion
Largest Segment
Plastic
Fastest Growth
Plastic
Growth Rate
9.8% CAGR
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Global Clinical Trial Packaging Market is segmented by Product, Material Type, End User, and region. Based on Product, the market is segmented into Syringes, Bottles, Blisters, Tubes, Vials and Ampoules, Bags and Pouches, Sachets, Kits or Packs, and Others. Based on Material Type, the market is segmented into Plastic, Glass, Metal, Paper, and Corrugated Fiber. Based on End User, the market is segmented into Drug Manufacturing Companies, Research Laboratories, and Clinical Research Organizations. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Clinical Trial Packaging Market Analysis by Material
The Plastics segment dominated the global clinical trial packaging market share in 2021. The plastic segment is further sub segmented into Polyvinyl Chloride (PVC), Polyethylene (PE), and others. Different types of polyethylene (PE) types include high-density polyethylene (HDPE), low-density polyethylene (LDPE), and polypropylene (PP). Plastic has steadily become more popular as a material for clinical trial packaging, thanks to qualities like ease of handling and transportation and cheaper price. The shortcomings of the glass material are addressed by these plastic qualities.
The metal segment is anticipated to account for substantial market growth during the forecast period. In metal packaging, metal mostly used is aluminium. Particularly when compared to glass containers, it is lightweight. Cans with labels have prints on them. Impact extrusion can transform them into stiff containers that cannot be broken. They are mostly resistant to light, gases, and moisture. These factors are expected to contribute to its increased adoption during the forecast period.
Clinical Trial Packaging Market Analysis by End Users
Research laboratories segment dominated the market share of Global Clinical Trial Packaging Market in 2021. One of the major factors boosting the product demand in research laboratories is the rising R&D activity in the healthcare sector. By the end of the projection period, it is anticipated that research laboratories would control more than half of the global market. This is due to a steady increase in the packaging used for these studies.
Drug manufacturing facilities segment is expected to grow at a high CAGR during the forecast period. This is attributed due to the increasing healthcare budget in many countries.
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North America dominated the Global Clinical Trial Packaging Market share and accounted for approximately 50% global revenue share in 2021. It is expected to continue its dominance during the forecast period. The pharmaceutical industry's success in North America is largely attributable to the region's abundance of clinical trials organisations and research labs. The pharmaceutical sector in North America is expected to develop at a rapid rate throughout the projected period due to a rise in R&D efforts. During the forecast period, the presence of stringent FDA rules for the packaging of goods and medications used in clinical trials is anticipated to drive regional clinical trials packaging market growth.
Asia Pacific region holds a substantial market share and is anticipated to grow at the fastest growth rate during the forecast period. The main drivers of the growth of the market throughout the projected period are an increase in R&D spending and a booming pharmaceutical sector in emerging nations like China, India, and Japan. Due to expanding government programmes, expanding contract manufacturing operations, and a rapidly ageing population, China topped the Asia Pacific market in 2021 and will continue to hold the top spot in the years to come.
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Clinical Trial Packaging Market Driver
Clinical Trial Packaging Market Restraint
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Global Clinical Trial Packaging Market is highly competitive and fragmented due to few major players. To increase their market share, the major companies in the international market are implementing a variety of business tactics, including mergers and acquisitions, expansions, and investments. Major players include Almac Group, Piramal Pharma Solutions, Clinical Supplies Management Holdings, Inc., Fisher Clinical Services, Inc. and others. These prominent players are focusing on R&D and new product development to stabilize their market share.
Clinical Trial Packaging Market Top Player's Company Profiles
Clinical Trial Packaging Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Clinical Trial Packaging Market analysis, with the demand for cutting-edge products and treatments, it is projected that the global market will grow. The growth of the global market will be significantly impacted by rising prevalence of infectious disorders including cancer, HIV, and epilepsy. Clinical research study packaging frequently makes use of booklet labels and other packaging choices. The two primary market drivers are R&D and innovations in drug formulation. These booklet labels are anticipated to become more necessary in clinical studies in the near future.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 2.8 billion |
Market size value in 2031 | USD 648 billion |
Growth Rate | 9.8% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Clinical Trial Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Clinical Trial Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Clinical Trial Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Clinical Trial Packaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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Report ID: SQMIG35B2071
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