Global Clinical Trial Packaging Market Insights 2023

Global Clinical Trial Packaging Market

Dublin, Aug. 04, 2023 (GLOBE NEWSWIRE) -- The "Global Clinical Trial Packaging Market Outlook 2023-2030" report has been added to ResearchAndMarkets.com's offering.

The Global Clinical Trial Packaging Market has been experiencing substantial growth, with an estimated value of USD 1.16 billion in 2022 and USD 1.26 billion in 2023. It is projected to achieve a remarkable Compound Annual Growth Rate (CAGR) of 8.21% to reach USD 2.19 billion by 2030. This growth is primarily driven by the rising demand for sustainable packaging solutions, the need for secure storage and protection of clinical study products, and the increasing approval of novel drugs. However, the market faces challenges such as the lack of modern infrastructure in developing regions and a shortage of trained personnel.

Market Dynamics

Drivers:

Increasing demand for sustainable packaging solutions for clinical trials worldwide.

Growing need for effective storage and protection of clinical study products.

Rising approvals of novel drugs, leading to a surge in clinical trials.

Restraints:

Inadequate modern infrastructure in developing regions, limiting market growth.

Shortage of skilled personnel for managing clinical trial packaging processes.

Opportunities:

Growing investments in research and development of new drugs.

Introduction of innovative pharmaceutical packaging, including snap-off ampoules and blow-fill-seals.

Market Segmentation & Coverage

The Global Clinical Trial Packaging Market is segmented based on various factors to forecast revenues and analyze trends in each sub-market:

Packaging Type: The market is studied across Bags & Pouches, Blisters, Bottles, Kits or Packs, Sachets, Syringes, Tubes, and Vials & Ampoules. Syringes are expected to witness significant market share during the forecast period.

Material Type: Segmentation includes Corrugated Fiber, Glass, Metal, Paper, and Plastic. Paper is projected to hold a substantial market share during the forecast period.

End-User: The market is further classified into Clinical Research Organization, Drug Manufacturing Facilities, and Research Laboratories. Drug Manufacturing Facilities are anticipated to dominate the market during the forecast period.

Region: The market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. In 2022, the Americas commanded the largest market share of 38.74%, followed by Europe, Middle East & Africa.

Market Statistics

The report considers 2018 to 2021 as historical years, 2022 as the base year, 2023 as the estimated year, and years from 2024 to 2030 as the forecast period.

FPNV Positioning Matrix

The FPNV Positioning Matrix assesses the Global Clinical Trial Packaging Market by evaluating vendors based on key metrics within Business Strategy and Product Satisfaction. This analysis organizes vendors into four quadrants, representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis provides insights into the current state of vendors in the market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, the report offers a better understanding of their performance and competitive positioning.

Companies Mentioned

Alcami Corporation, Inc.

Almac Group Limited

Bilcare Limited

Corden Pharma GmbH

Fisher Clinical Services

Lonza Group

Parexel International Corporation by Phoenix Parentco, Inc.

Piramal Enterprises Ltd.

Sharp Clinical Services, Inc.

Societal CDMO

Symbiosis Pharmaceutical Services

The Coghlan Group

Westrock Company

Xerimis Inc.

Yourway Transport Inc.

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on the market offered by key players.

Market Development: In-depth information about lucrative emerging markets and penetration across mature segments.

Market Diversification: Detailed information about new product launches, untapped geographies, recent developments, and investments.

Market Trends: Understanding the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation.

Competitive Assessment & Intelligence: Exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of leading players.

Product Development & Innovation: Insights on future technologies, R&D activities, and breakthrough product developments.

Key Attributes

Report Attribute

Details

No. of Pages

181

Forecast Period

2023-2030

Estimated Market Value (USD) in 2023

$1.26 Billion

Forecasted Market Value (USD) by 2030

$2.19 Billion

Compound Annual Growth Rate

8.2%

Regions Covered

Global

Key Topics Covered1. Preface2. Research Methodology3. Executive Summary4. Market Overview5. Market Insights6. Clinical Trial Packaging Market, by Packaging Type7. Clinical Trial Packaging Market, by Material Type8. Clinical Trial Packaging Market, by End-User9. Americas Clinical Trial Packaging Market10. Asia-Pacific Clinical Trial Packaging Market11. Europe, Middle East & Africa Clinical Trial Packaging Market12. Competitive Landscape13. Competitive Portfolio14. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/t2kf8r

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Attachment

Global Clinical Trial Packaging Market