The global clinical trials packaging market size is predicted to grow at a healthy CAGR from 2024-2032.
The increased occurrence of chronic and life-threatening diseases such as cancer, diabetes, and epilepsy globally has accounted for the rising demand and manufacturing of the product. Post-COVID-19, the number of clinical trials has surged and is anticipated to drive the market.
Fortune Business Insights presents this information in its report titled “Clinical Trials Packaging Market, 2024-2032.”
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Market Segments:
Based on product type, the market is classified into syringes, bottles, blisters, tubes, visual & ampoules, bags and pouches, sachets, and others.
On the basis of material type, the market is segmented into plastic, glass, metal, paper, and corrugated fiber.
According to end-use type, the market is fragmented into drug manufacturing companies, research laboratories, and clinical research organizations.
The market is geographically segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Recent industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Surging Demand for Clinical Products to Accelerate Market Growth
The demand for the product is expected to grow due to increasing chronic and microbial diseases such as diabetes, epilepsy, cancer, and so on. To test the drug’s effectiveness of its dose for various pharmaceutical formulations. To reduce the use of plastic to combat pollution and to reduce pollution.
Regional Insights:
North America to Dominate Clinical Trials Packaging Market Share
North America dominates the market due to numerous high-tech research laboratories and clinical trial organizations. Under the strict guidelines issued by the U.S. FDA, the clinical regional market for clinical trials packaging is expected to grow during the forecast period. The growth and increasing demand for pharmaceuticals and medicines are anticipated to boost the market.
Europe is the second-largest market in the clinical trials packaging market. This region is anticipated to maintain its position in the packaging market during the forecast period. The European Medicines Agency for devices and medications used in clinical trials is expected to boost the market.
Asia Pacific is expected to grow at pace and to hold a significant portion of the global clinical trials packaging market. The major factors contributing to the growth of the regional market are the growing pharmaceutical industry, development, and increased investment in research. Developing regions such as China, India, and Japan are expected to boost the economy.
Latin America, the Middle East & Africa are estimated to show reasonable growth in the market for clinical trials packaging.
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Competitive Landscape
Leading Players adopt Acquisition Strategies to Stay Competitive
Several players in the market are using acquisition strategies to build their business portfolios and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions.
Notable Industry Development:
- June 2024 – Almac Group announced plans to expand their packaging facility in Montgomery Country, Pennsylvania, in North America to meet next-generation and increased client demand.
The Report Lists the Key Players Profiled in the Market Report:
- Almac Group (U.K.)
- Piramal Pharma Solutions (India)
- Clinical Supplies Management Holdings, Inc., (U.S.)
- Fisher Clinical Services, Inc., (U.S.)
- PCI Services (U.S.)
- Bilcare Ltd. (India)
- Quay Pharma (U.K.)
- Xerimis (U.S.)
- Lonza Group Ltd. (Switzerland)
- August Faller GmbH & Co. KG (Germany)
- Mikart LLC (U.S.)
- Rhenochem AG (Switzerland)
Related Blogs:
https://www.maiyro.com/posts/8evh8p40
https://theomnibuzz.com/pharmaceutical-packaging-market-research-report-forecast/