Ottawa, Aug. 26, 2022 (GLOBE NEWSWIRE) — The world Clinical Trial Packaging Market Size was valued at $2.89 billion in 2021. Clinical trial packaging solutions can frequently be used for storing, packaging, shipping and protecting clinical study products. Accordingly, a growth in product demand from a number of end users like clinical research companies, drug production facilities, and research laboratories propels the global clinical trial packaging market.
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Previously, ampoules, vials, and vials made of different paper packaging for pharmaceutical and clinical trials, including glass, were among the major materials increasingly used. However, companies involved in the clinical trial packaging market are increasing their demand for plastic as a replacement for glass due to various benefits they offer including the ability of plastic packaging solutions to help solve a number difficulties and inconveniences. glass packaging. Due to the fragility and weight of glass materials, the use of glass-based paper packaging may damage some pharmaceutical products during shipping and transportation. To replace glass in pharmaceutical packaging, plastic packaging materials including polyethylene (PE)polyethylene terephthalate (PET), polypropylene (PP)and polyvinyl chloride (PVC) are increasingly employed.
The Asia-Pacific clinical trial packaging market is expected to witness profitable growth throughout the forecast period owing to the presence of numerous emerging economies including China and India which are increasing their investments in the health infrastructure. The existence of the study pharmaceutical industry and the development of clinical research activities are also expected to contribute to the progress of the regional market.
- By type of packaging, the bags & pouches segment accounted for a market share of approximately 35% in 2021.
- In 2021, the plastics segment accounted for 37% market share in 2021.
- In 2021, the research laboratory end-user segment accounted for 44% market share in 2021.
- The North America region accounted for the highest revenue share, 51%, in 2021.
The North American market held around 51% of the global market share in 2021, and this dominance is expected to continue throughout the forecast period. Europe is another region that has the potential to be very lucrative due to the investments made by major pharmaceutical companies. It is expected that throughout the forecast period, it would grow at a CAGR of 7.14%. The study predicts that the Asia-Pacific region will grow at a CAGR of 3.46%. The low manufacturing and packaging costs in the region will benefit packaging manufacturers and promote their expansion.
The report says the region’s growth will be fueled by high-potential countries like China and India, which are already the world’s leading producers and exporters of pharmaceuticals and whose governments and companies are increasingly investing. money in pharmaceutical R&D. According to the study, by taking advantage of the incredible development of drug R&D and manufacturing industries in these countries, multinational producers of clinical trial packaging may be able to profit from the growing clinical trial activities of the region.
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|Market size in 2021||$2.89 billion|
|Revenue forecasts by 2030||$7.51 billion|
|CAGR||11.19% from 2022 to 2030|
|The biggest market||North America|
|Fastest growing region||Asia Pacific|
|forecast year||2022 to 2030|
|Key players||Bilcare, Fisher Clinical Services, WuXi AppTec, PCI Pharma Services, Almac Group, PharMaterials, PAREXEL, Schreiner MediPharm, Corden Pharma, DMB Consultancy, Körber Medipak Systems, Sentry BioPharma, NextPharma and Mawdsleys|
Report Hstrong points
- As consumers around the world become more concerned about the environment, this group is moving towards using products presented in eco-friendly packaging. This factor is pushing companies participating in the global clinical trial packaging industry to use more environmentally friendly packaging, which is accelerating the growth of the market.
- In 2021, the clinical trial packaging market is expected to be dominated by plastic, which will hold more than half of the total market share.
- The research laboratory sector is expected to dominate the global clinical trial packaging market on the basis of end use.
- In terms of market share and revenue generation, the North America region is expected to outperform the global clinical trial packaging market. Rapid penetration and increasing R&D activities in the North American pharmaceutical industry are driving the expansion of the market throughout the projected period.
- Government organizations in several countries support research and development projects aimed at producing powerful drugs for a range of medical conditions. The clinical trial packaging market has the potential to become profitable with this feature.
Research and development activities within the pharmaceutical industry have recently shifted focus due to the increased need for innovative drugs and treatments. This trend is expected to help the global clinical trial packaging industry. The demand for glass bottles is increasing as people become more concerned about the use of plastic. The steady increase in the prevalence of chronic diseases, such as cancer, HIV, and epilepsy, is expected to have a substantial impact on the growth of the global clinical trial packaging market throughout the period. devaluation. Due to increasing R&D activities and government funding for new drug discovery, the growth of the global clinical trial packaging market is expected to accelerate during the assessment period.
The lack of a centralized or uniform procedure for drug registration poses problems for pharmaceutical companies and packagers working in the clinical trial packaging industry. The development of the clinical trial packaging market is constrained by these issues. Producers of clinical trial packaging also have to deal with changing clinical trial packaging markets in different countries. Long-term business relationships are further hampered by the erratic constraints imposed on the clinical trials industry, thereby limiting any possibility of revenue growth and business opportunities. It is anticipated that each of these factors will restrain the growth of the clinical trial packaging market to some extent.
The COVID-19 pandemic is expected to have a substantial effect on the clinical trial packaging market in 2020 and beyond. Facing the problem of COVID-19, market players are actively focusing on developing innovative materials to meet packaging demands. Growing need for hygienic, secure and safe packaging options for healthcare products and e-commerce shipping is expected to drive the growth of the global clinical trial packaging market over the projected period. Due to declining consumer demand for plastic packaging, it is expected that the clinical trial packaging industry will see innovation.
The COVID-19 pandemic is expected to have a substantial influence on the clinical trial packaging market starting from 2020 and continuing in the future. The COVID-19 scenario has drawn attention to packaging requirements; industry players are therefore now focusing on creating new materials to meet these needs. The need for secure, durable and hygienic packaging options for healthcare products and e-commerce shipping is expected to increase throughout the forecast period. Declining consumer demand for plastic packaging is expected to drive innovation in clinical trial packaging.
Several issues including the shortage of skilled labor and the state of infrastructure in emerging and developing countries could hamper the growth of the clinical trial packaging industry. An increased amount of work is going into creating clinical trial packaging that can withstand filling, shipping, and other circumstances. During the assessment period, market growth is expected to be fueled by the development of new pharmaceutical packaging ideas, such as blow-sealed vials, break-open vials, two-in-one pre-filled vial designs, and childproof packaging.
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- In October 2020, The Ardagh Group launched a business development investment program in glass and metal beverage packaging for a total of US$1.8 billion.
- Government organizations in several countries support research and development projects aimed at producing effective drugs for a range of medical conditions. The clinical trial packaging market has the potential to become profitable with this feature.
By type of clinical trial
- Therapeutics and Prevention
- Drug discovery and development
- Therapeutic devices
- Therapeutic dosages
- Therapeutic procedures
- Diagnostic test
- Diagnostic devices
By type of packaging
- Vials and ampoules
- Cold forming
- Bags and pouches
- Kits or Packs
- Corrugated fiber
Per end user
- Research laboratories
- Clinical research organizations
- Drug manufacturing facilities
- North America
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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