Clinical Trial Packaging Market size is poised to reach USD 7 Billion by the end of 2033, growing at a CAGR of 10% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of clinical trial packaging was USD 3 Billion. 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.
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.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
10% |
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Base Year Market Size (2022) |
USD 3 Billion |
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Forecast Year Market Size (2033) |
USD 7 Billion |
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By Type |
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By Material |
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By End-User |
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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.
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Author Credits: Sadaf Naaz, Mohd Shadab
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