The Clinical Trial Packaging Market size was valued at $2.58 billion in 2021, and is estimated to reach $6.21 billion by 2031, growing at a CAGR of 9.1% from 2022 to 2031.
Top Leading Companies
Almac Group Limited, 3M Company, Bilcare Limited, Corden Pharma International, Thermo Fisher Scientific Inc., Mawdsley-Brooks & Co. Ltd., Parexel International Corporation, Piramal Enterprises Ltd., Sharp Services, LLC, Caligor Coghlan, Next Pharma Technologies Holding Limited, PCI Pharma Services, Sentry BioPharma Services, Westrock Company, Körber Medipak Systems AG, WuXi AppTec, and Xerimis Inc.
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Clinical trial packaging is an important factor to place devices in the market safe and secured during the shelf life. Packaging performs protection and communication with the environment, humans, and vice versa. For a medical device, protection is necessary by maintaining package integrity, usually, proper packaging is required for medical equipment to avoid, physical damage, biological contamination, and other external disturbance. In addition, other motive is the proper identification of the device by means of labeling.
This study confers an informative depiction of the global market along with the recent trends and future valuations to support the investment pockets. Porter’s five forces analysis, on the other hand, validates the influence of buyers & suppliers in the market. The report offers a detailed market study based on economical force and how the global competition will shape up in the near future.
Major companies in the market have adopted product launch, partnership, business expansion and acquisition as their key developmental strategies to offer better products and services to customers and boost the clinical trial packaging market share.
Rapid advancements in the technology involved in medical equipment, coupled with introduction of new and innovation devices require specialized and smart packing solutions, which also drives the market growth. Moreover, increase in number of patients with acute and chronic ailments have a direct and positive impact on the demand for clinical trial packaging, rise in environmental concerns, coupled with increased expenditure on healthcare infrastructure has led to production and innovation of eco-friendly packing solutions. However, strict rules & regulations imposed by the government across the world may hamper the global clinical trial packaging market growth. Conversely, increase in need for sterile packaged, tamper-proof, and nonreactive products with great performance & reducing total cost of ownership are few factors that create lucrative opportunities for the clinical trial packaging industry in the future.
The global clinical trial packaging market segmented on the basis of packaging type, material, end user, and region. On the basis of packaging type, it is further classified into syringes, vials & ampoules, bottles, bags & pouches and others. By material, it is divided into plastic, glass, metal, paper, and corrugated fiber. By end user, it is categorized into research laboratories, clinical research organizations, and drug manufacturing facilities. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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