According to the report, the revenue generated from sales of clinical trial packaging has been estimated to be around US$919.92 mn in 2016 and is projected to increase at a CAGR of 6.9% during forecast period 2017-2025.
Albany, NY -- (SBWIRE) -- 04/09/2018 -- The global clinical trial packaging market has witnessed impressive growth in the past decade, due to growing pharmaceutical packaging products trade across the globe. The demand of clinical trial packaging has witnessed an upstick in the recent past. Clinical trial packaging manufacturers are investing in research and development process that can create sustainable solution for the industry.
Clinical trial packaging market manufacturers are mainly emphasizing on expanding their geographical footprint through mergers and acquisitions. Growing importance of booklet labels is one of the trend of clinical trial packaging. Clinical trial manufacturers are setting up operations in markets with strategic advantage. Packaging manufacturers serving the clinical trials are investing in setting up and expanding their operations in markets that have geographic and economic strategic advantage. North America and Europe, manufacturers of clinical trial packaging are considering investing in regions such as Eastern Europe that have strategic advantage due to its geographic location.
Transparency Market Research examines the global clinical trial packaging market during the forecast period 2017-2025. The primary objective of the report is to identify opportunities in the market and present updates as well as insights pertaining to various segments of the global clinical trial packaging market.
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The report begins with an overview of the global clinical trial packaging market, evaluating market performance in terms of revenue, followed by TMR's analysis of key trends, drivers and restraints witnessed in the global retail as well as clinical trial packaging market. Weighted average pricing analysis of clinical trials packaging based on packaging type which is also included in the report.
To compute the market size, in-depth secondary research is done. Data points such as regional splits and market split by packaging type, material type, and end use have been assimilated to arrive at the market estimates. The report comprises the forecast of the global revenue generated by sales of clinical trial packaging across the retail industry.
Global Clinical Trial Packaging Market: Scope of the Report
TMR triangulates the data via different analysis based on supply side, demand side, as well as dynamics of clinical trial packaging market.
TMR not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of packaging type, material type, end use and region. The report analyzes the global clinical trial packaging market in terms of value (US$ '000) and volume (Mn Units).
Bottles to Remain Most In-demand Product Variety
The global clinical trial packaging market by packaging type, has been majorly segmented into syringes, vials & ampoules, blisters, tubes, bottles, bags & pouches, sachets, kits or pack and others. The segment of blisters is further sub-segmented into cold-forming and thermoforming. Among packaging type, the segment of bottles dominated the market accounted for 65.1% of the global market in 2017. The segment of blisters is expected to expand at an impressive CAGR of 7.4% during the forecast period.
The global clinical trial packaging market has been segmented on the basis of end use into research laboratories, clinical research organization, and drug manufacturing facilities. Of these, the segment of research laboratories is anticipated to dominate the market over the report's forecast period, exhibiting a CAGR of 7.4%.
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North America and Europe to Present Lucrative Growth Opportunities
Geographically, the market for clinical trial packaging has been covered for five regional markets, namely North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. The market in North America accounts for nearly 53% of the global market and is expected to register a CAGR of 7.7%, during the forecast period. The well-established pharmaceutical industry in the region and the highly conducive regulatory environment for research and development activities are the key factors responsible for the strong growth prospects of the clinical trial packaging market. Europe is also considered to be a lucrative regional market owing to the presence of several leading pharmaceutical companies. The regional market is projected to exhibit a 7.1% CAGR over the forecast period.
With a thriving contract manufacturing industry, the Asia Pacific market for clinical trial packaging is also likely to witness promising growth opportunities. The region is projected to register a CAGR of 3.6% over the forecast period. India and China markets are anticipated to lead the APAC clinical trial packaging market, thanks to their increasing manufacturing capabilities with leading pharmaceuticals companies looking to achieve economies of scale.
Some of the leading companies in the global clinical trial packaging market are Bilcare Limited, Westrock Company, Fisher Clinical Services, Almac Group Limited, Sharp Clinical Services, Inc, PAREXEL International Corporation, The Coghlan Group, Piramal Enterprises Ltd, Corden Pharma GmbH, Xerimis Inc, WuXi AppTec, Pharmaterials Ltd, PCI Pharma Services, Mawdsley-Brooks & Co. Ltd, NextPharma Technologies, Sentry BioPharma Services, Körber Medipak Systems AG, DMB Consultancy.
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The market has been segmented as follows –
By Packaging Type
Vials & Ampoules
Bags & Pouches
Kits or Packs
By Material Type
By End Use
Clinical Research Organization
Drug Manufacturing Facilities
Asia Pacific (APAC)
Middle East & Africa (MEA)