Global Clinical Trial Packaging Market is anticipated to reach US$ XX Bn by 2026 from US$ XX Bn in 2019 at a CAGR of XX% during the forecast period. Clinical trial packaging is for research purposes only and they are never found on the shelves of retail stores. It involves primary and secondary packaging. Along with, the primary packaging includes bottling with solid dose bottling and multi-dose blistering capabilities. On the other hand, secondary packaging includes translational services, labeling, label printing, artwork design, randomization, and patient kit assembly. The packaging is also very essential to successfully get a drug ready for a clinical trial. The increasing importance of proper packaging techniques in order to preserve the quality of the medicines for clinical trials and the presence of the stringent guidelines is leading to market players providing effective and enhanced clinical trial packing solutions and services to end-users. The study includes a detailed market assessment. It does so by in-depth qualitative perspectives, historical evidence, and market size verifiable predictions. Using validated research methodologies and assumptions, the predictions featured in the study have been derived. The research report thus serves as an analysis and information for all aspects of the market, including, regional markets, technologies, by applications. The report has profiled seventeen key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimating the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in APAC region. Major country’s policies about manufacturing and its impact on market demand are covered in the report.
Global Clinical Trial Packaging Market-Dynamics
The rise in the number of clinical trials, the increase in R&D activities in pharmaceutical & biotech companies for novel drug discovery, and the growing trend of outsourcing drugs for clinical trials are the key factors that are driving the growth of the global clinical trial packaging market. Also the healthcare and life sciences industries in several nations are leaning on starting new drug development initiatives for chronic diseases, increasingly supported by grants by the respective research. This is a key trend boosting the growth of the clinical trial packaging market. 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 . Also 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. All these aspects are ultimately contributing to the growth of the global market at a significant rate. Additionally, huge investments made by the pharmaceuticals for the drug discovery programs will create several opportunities for the growth of the global clinical trial packaging market over the forecast period. On the other hand, lack of trained staff and poor healthcare infrastructure in low and middle-income countries are the factors that may hamper the growth of the global market.
Global Clinical Trial Packaging Market -Segment Analysis:
Global Clinical Trials Packaging Market, by Product Type
• Vials • Blisters • Tubes • Bottles • Bags and Pouches • Sachets • Kits or Packs • Others Based on Product, the market is divided into syringes, vials & ampoules, blisters, tubes, bottles, bags & pouches, sachets, kits or packs, and others. The Bottles segment dominated to held the largest market share of XX% in 2019.The segment of blisters is expected to be the fastest-growing segment due to the increased sub-segments that find applications in various fields.
Global Clinical Trials Packaging Market, by Material
• Plastic • Glass • PVC • PE • Metal • Paper To Know About The Research Methodology :- Request Free Sample Report Based on Material Type, the market is divided into Plastic, PVC, metal, and others. The Plastic segment has been dominating the largest market share of XX%. Due to the wide variety and different forms of plastic, with the introduction of sub-segments in PE like HDPE & LDPE are anticipated to grow highly during the Forecast Period 2020-2026.
Global Clinical Trial Packaging Market, by End-User
• Research Laboratories •Clinical Research Organization • Drug Manufacturing Facilities Based on End-User, the market is divided into research laboratories, Clinical Research Organizations, and drug manufacturing facilities. The clinical trials are mostly done in the research laboratories. Thus, research laboratories segment is anticipated to dominate the largest market with a considerable CAGR of XX%. Over the forecast period
Global Clinical Trial Packaging Market, by Region
North America is expected to account for the largest market share of xx% during the forecast period. The North American region is expected to hold a significant share over the forecast period, which is attributable to the fact that the pharmaceutical and packing industry in the US is flourishing and due to the increasing influx of investments. In addition, there are stringent guidelines in place for the packaging of the medicine to be used for clinical trials by organizations such as FDA that must be complied with by the market players in order to minimize their losses and avoid the imposition of heavy penalties. Asia Pacific market for clinical trial packaging is likely to witness significant expansion opportunities. Emerging economies with increasing manufacturing capabilities with leading pharmaceuticals companies are propelled to lead the APAC clinical trial packaging market.
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Global Clinical Trial Packaging Market Key Players
• 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. • Quay Pharma • August Faller GmbH & Co. KG • Lonza Group Ltd. • Rhenochem AG • Mikart, LLC • Clinical Supplies Management Holdings Inc. • PCI Services.