Westford USA, April 11, 2023 (GLOBE NEWSWIRE) -- SkyQuest projects that the Clinical Trial Packaging market will attain a value of USD 6.01 billion by 2030, with a CAGR of 9.3% over the forecast (2022-2030). It is anticipated that the global market would expand because of recent modifications made to the research and development methodologies used by the pharmaceutical sector as well as the expanding need for cutting-edge goods and treatments. The demand for glass bottles is also being fueled by the advent of problems associated with the usage of plastic. The prevalence of infectious diseases is predicted to have a substantial impact on the growth of the worldwide clinical trial packaging market during the forecast period.
According to the SkyQuest's, Clinical trials now include a much larger number of biologics and temperature-sensitive drugs. Pharmaceutical pharmaceuticals are already temperature-sensitive in 39.0% of cases and biologics make up 38.0% of late-phase pharmaceutical drugs. This number is expected to increase in the future as the demand for biologics increases because they have less adverse effects than regular ties when used to store pharmaceuticals that require a certain temperature. So, as there are more biologics in clinical trials, there will likely be a greater need for cold chain facilities.
Browse in-depth TOC on "Clinical Trial Packaging Market"
- Pages - 242
- Tables - 121
- Figures – 77
Clinical trials are scientific studies conducted to find better ways to screen for sickness, diagnose and treat it. These clinical investigations could also show whether therapeutic modalities are more efficient in treating specific conditions or patient demographics. For use in making healthcare decisions, high-quality data from clinical trials are produced. To offer scientific insights, clinical studies are carried out.
Prominent Players in Clinical Trial Packaging Market
- PCI Services
- Bilcare Ltd
- Quay Pharma
- Xerimis
- Lonza Group Ltd.
- August Faller GmbH & Co. KG
- Mikart, LLC
- Rhenochem AG
- Westrock Company
- Sharp Clinical Services, Inc
- PAREXEL International Corporation
- The Coghlan Group
- NextPharma Technologies
- Sentry BioPharma Services
- Schreiner MediPharm
- Corden Pharma
- DMB Consultancy
- Catalent
- Mawdsleys
- Rubicon
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Metal Packaging Segment Is Expected to Contribute Significantly Due to High-quality Protection Against External Influences and Durability
The metal segment is expected to contribute significantly to market growth throughout the forecast period. Aluminum is the metal that is most used in packaging. It is light in comparison to glass containers. Prints can be seen on cans with labels. They can become strong containers that cannot be broken through impact extrusion. Light, gases and moisture are their main competitors. Its rising acceptance during the forecast period is anticipated to be influenced by these reasons.
North America dominated the market for Clinical Trial Packaging. Throughout the forecast period, it is anticipated to maintain its supremacy. The availability of clinical trials organizations and research labs in North America is partly responsible for the success of the pharmaceutical business there. Due to increased R&D activities, it is anticipated that the pharmaceutical industry in North America will grow quickly throughout the projected period. The presence of strict FDA regulations for the packaging of items and drugs used in clinical trials is predicted to fuel regional clinical trials packaging market expansion during the forecast period.
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Research Laboratories Segment Has Held the Largest Market Share Due to Increasing Number of Clinical Trials
In 2021, the research laboratories segment held the largest market share of the Clinical Trial Packaging market. The growing R&D activity in the healthcare sector is one of the key elements driving up product demand in research labs. It is projected that research laboratories holds a majority of the global market in the forecast period. This is because the packaging utilized for these investigations has steadily increased.
The Asia Pacific region is predicted to expand at the highest rate over the forecast period with a sizable market share. An increase in R&D spending and a rising pharmaceutical industry in developing countries like China, India, and Japan will be the key drivers of market expansion over the forecast period. China dominated the Asia Pacific market due to the rising government programmes, expanding contract manufacturing businesses, and a rapidly ageing population.
A comprehensive analysis of the major players in the Clinical Trial Packaging market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Clinical Trial Packaging Market
- In October 2022, Germany-based Hubertus Apotheke were acquired by Myonex, a top supplier of clinical trial supplies. Myonex GmbH, a recently established company, expands the business's reach across the European Union and aids in its recent growth.
- In October 2022, in order to expand its presence and capabilities in China, Sharp, a global provider of contract packaging and clinical supply services, joined with ClinsChain. Sharp collaborated with ClinsChain, a business that specializes in offering clinical supply services for national and international clinical trials, to help its pharma and biopharma clients enter the Chinese market and help Chinese inventors broaden their worldwide reach.
Key Questions Answered in Clinical Trial Packaging Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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