ALBANY, N.Y., March 23, 2022 (GLOBE NEWSWIRE) -- The global clinical trial packaging market is estimated to register growth at a CAGR of 7.3% during the forecast period2020 to 2027, as per a research report by Transparency Market Research (TMR).
Clinical trial packaging solutions are being increasingly used for storage, packaging, transportation, and protection of clinical trial products. Hence, surge in product demand from a wide range of end-users such as clinical research organizations, drug manufacturing facilities, and research laboratories is propelling the global clinical trial packaging market.
Earlier, glass was one of the key materials increasingly utilized in the production of different pharmaceutical as well as clinical trials packaging solutions such as ampoules, vials, and bottles. However, companies operating in the clinical trial packaging market are increasing the demand for plastic as a substitute to glass material solution, owing to a wide range of advantages they offer including the ability of plastic packaging solutions to assist in address several challenges and disadvantages of glass packaging.
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As glass materials are fragile and heavyweight, the use of glass-based packaging solutions can lead to damage during the shipping and transportation of different pharmaceutical products. Therefore, there is surge in the use of packaging products manufactured using polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP), and polyvinyl chloride (PVC) instead of glass pharmaceutical packaging products. Besides, plastic packaging solutions are gaining adoption in clinical trials due to their cost-effectiveness, sturdiness, and ability to offer convenience during the transportation activities. Hence, the trend of using plastic packaging solutions is prognosticated to offer sizable businesses opportunities in the clinical trial packaging market during the forecast period.
The clinical trial packaging market is expected to gain profitable prospects in Asia Pacific during the forecast period, owing to presence of many emerging economies such as India and China, which are increasing investments in the healthcare infrastructure. Moreover, the presence of study pharmaceutical industry and increasing number of clinical research projects are anticipated to help in boosting the regional market growth.
Clinical Trial Packaging Market: Key Findings
- With rising awareness about environment concerns among consumers globally, this population pool is inclining toward the use of products with sustainable packaging alternatives. Owing to this factor, companies operating in the global clinical trial packaging market are increasing the use of sustainable packaging materials, this in turn, is driving the market growth.
- Government authorities of several nations are providing financial support for R&D projects that are focused on the development of innovative and efficient drugs intended for a wide range of health conditions. This factor is leading to revenue-generation opportunities for the global clinical trial packaging market.
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Clinical Trial Packaging Market: Growth Boosters
- Rise in the number of drug discovery projects across the globe is generating demand opportunities for clinical trial packaging market players
- Expansion of the pharmaceutical sector is expected to fuel sales prospects in the market for clinical trial packaging during the forecast period
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Clinical Trial Packaging Market: Key Players
Some of the key players profiled in the report are:
- Westrock Company
- Bilcare Limited
- Piramal Enterprises Ltd
- Fisher Clinical Services
- PCI Pharma Services
- WuXi AppTec
- Almac Group Limited
- Pharmaterials Ltd
- The Coghlan Group
- PAREXEL International Corporation
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Clinical Trial Packaging Market Segmentation
Packaging Type
- Syringes
- Vials & Ampoules
- Blisters
- Cold Forming
- Thermoforming
- Tubes
- Bottles
- Bags & Pouches
- Sachets
- Kits or Packs
- Others
Material
- Plastic
- PVC
- PE
- HDPE
- LDPE
- PP
- Others
- Glass
- Metal
- Paper
- Corrugated Fiber
End Use
- Research Laboratories
- Clinical Research Organizations
- Drug Manufacturing Facilities
Region
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa
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