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Clinical Trial Packaging Market Analysis by Type (Bags & Pouches, Bottles, Vials & Ampoules, Syringes, Blisters, and Others); by Material (Corrugated Fiber, Glass, Plastic, Metal, Paper, Plastic, and Others); and by End-User (Research Laboratories and Drug Manufacturing Facilities) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • WestRock Company to make an announcement about its acquisition of HP PageWide T1190 Press. The acquisition took place to expand the company’s portfolio of unmatched corrugated printing capabilities. Additionally, WestRoack Company also offers single-source solutions to its customer for enhanced and high-quality graphics.
  • WuXi AppTec Co., Ltd. to establish a new facility for new sterile lipid nanoparticle formulation in its Wuxi city campus. The facility will fulfill the demand for complex injection dosage forms and deliver better medicines to patients with the help of fast-growing parenteral formulation capabilities.

Global Clinical Trial Packaging Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~10%

Base Year Market Size (2022)

~USD 3 Billion

Forecast Year Market Size (2033)

~USD 7 Billion

The global clinical trial packaging market is estimated to garner a revenue of ~USD 7 million by the end of 2033 by growing at a CAGR of ~10% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 3 million in the year 2022. The growth of the market can primarily be ascribed to the convenient availability and utilization of blisters in medicine packaging. As of 2019, approximately 18 to 20 % of pharmaceutical packaging was fulfilled by blister packs.

Clinical-Trial-Packaging-Market-Scope

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Global clinical trial packaging market trends such as, mounting spending on pharmaceuticals R&D and rising disposable income of countries are projected to influence the growth of the market positively over the forecast period. For instance, in 2020, the spending on pharma R&D across the globe was estimated to be nearly USD 200 billion while as of 2022, approximately 100,000 clinical studies were registered solely in the USA. Moreover, ongoing development in medical technology is further estimated to propel the growth of the market over the forecast period. In 2022, the medical technology industry was forecasted to generate a revenue of about USD 375 billion. Hence, such factors are estimated to hike the growth of the market during the forecast period.  

Global Clinical Trial Packaging Market: Growth Drivers and Challenges

Growth Drivers

  • Skyrocketing Development of Medical Drugs

It was observed that in 2021, the total spending on drugs in the USA was estimated to be approximately USD 2 billion while the number of drugs under the R&D pipeline was anticipated to be about 20,000.

Medical drug is another term used in the place of medicine which is developed in laboratories with different sorts of chemicals and compounds. The research on medical drugs never stops and in modern times, governments of multiple countries are more inclined to invest in drug development to flourish the healthcare infrastructure and provide cures for many untreatable diseases such as, cancer, dementia, neurological, and Alzheimer’s diseases. After the successful clinical trial, medicines are exported across countries boosting the demand for high-quality packaging.

  • Growing Utilization and Production of Corrugated Board  

As of 2020, approximately 150 million tons of corrugated board were produced across the globe.

  • Rising Export and Import of Syringes

In 2021, the total volume generated by the syringe export in the United Kingdom was estimated to be nearly 90,000 U.S. dollars.

  • Booming Demand for Vaccination Worldwide

The percentage of fully vaccinated people in 2022 by country was estimated to be in UAE (~100%), Maldives (~100%), Cambodia (~90%), Qatar (~100%), Bhutan (~85%), and others.

Challenges

  • Lack of Requisite Materials and Workforce
  • Requirement for Higher Initial Investment
  • Disrupted Supply-Chain due to COVOD-19

The global clinical trial packaging market is segmented and analyzed for demand and supply by end-user into research laboratories and drug manufacturing facilities, out of which, the drug manufacturing facilities segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the rising number of active pharmaceutical ingredient (API) facilities. For instance, nearly 70% of the overseas API facilities were observed to be supplying to the United States in 2022.

Global Clinical Trial Packaging Market Regional Synopsis

Regionally, the global clinical trial packaging market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2033. The growth of the market in the region can be accounted to the growing R&D in the healthcare sector and the presence of the major key players. It was noticed that in 2022, approximately 24,000 diagnostic and medical laboratories were functioning in the United States alone. Hence, all these factors are anticipated to fuel the growth of the market in the region during the forecast period.

Clinical-Trial-Packaging-Market-Size

The global clinical trial packaging market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global clinical trial packaging market includes the following segments:

By Type

  • Bags & Pouches
  • Bottles
  • Vials & Ampoules
  • Syringes, Blisters
  • Others

By Material

  • Corrugated Fiber
  • Glass
  • Plastic
  • Metal
  • Paper
  • Plastic
  • Others

By End-User

  • Research Laboratories
  • Drug Manufacturing Facilities

Top Featured Companies Dominating the Global Clinical Trial Packaging Market

  • XERIMIS INC
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Almac Group
  • WuXi AppTec Co., Ltd.
  • WestRock Company
  • 3M Company
  • Sentry BioPharma Services, Inc.
  • Bilcare Ltd.
  • Sharp Packaging Services, LLC
  • Corden Pharma GmbH
  • Parexel International Corporation

 

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