30 December 2022
Visiongain has published a new report entitled Clinical Trial Packaging and Labelling Market Report 2023-2033: Forecasts by Type (Primary Packaging, Secondary Packaging), by End-user (CRO’s, Drug Manufacturing Companies, Research Labs), by Material (Plastic, Paper, Metal, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The clinical trial packaging and labelling market was valued at US$697.47 million in 2022 and is projected to grow at a CAGR of 6.08% during the forecast period 2023-2033.
Opportunities in Biologics and Biosimilars Packaging Materials
The intervention of pandemic COVID-19 has boosted the demand for biologics, which has significantly fuelled market expansion. The substantial research and development efforts for COVID-19's treatment were a major factor in the biologics market's expansion during the pandemic. Even though the epidemic is over, the need for biologics is anticipated to increase in the years to come as their importance for various therapies grows. Clinical trial packaging material suppliers are aware of the challenges associated with biologics packaging, such as high chances of reactivity with packaging material. Biologics and biosimilars packaging space provide tremendous growth opportunities to the suppliers, both in terms of value and volume.
How has COVID-19 had a Significant Impact on Clinical Trial Packaging and Labelling Market?
The dramatic increase in vaccine research, the COVID-19 epidemic had a positive impact on clinical trial packaging because it increased demand for the packaging. Leading pharmaceutical companies regularly carry out a number of clinical trials to develop and release new COVID-19 vaccines. Due to the innovative COVID-19's massive global dissemination, top pharmaceutical companies have started numerous research trials to fight the epidemic. As a result, there is a sizable market for pharmaceutical packaging solutions and clinical trial packaging. The number of COVID-19 clinical trials has grown Leading pharmaceutical companies regularly carry out a wide range of clinical trials to develop and disseminate new COVID-19 vaccines. As a result, there is a sizable market for pharmaceutical and clinical trial packaging solutions. A growth in demand for clinical trial packaging products, such as vials and ampoules, syringes, and bottles, among others, is also being observed in established markets in North America, Europe, and Asia. The demand for clinical trial packaging and labelling services has increased with the intervention of COVID-19.
How will this Report Benefit you?
Visiongain’s 238-page report provides 118 tables and 148 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analysis for the clinical trial packaging and labelling market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for clinical trial packaging and labelling. Get financial analysis of the overall market and different segments including services type, distribution channel, indications, and route of administration, company size and capture higher market share. We believe that there are strong opportunities in this fast-growing clinical trial packaging and labelling market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Rising Number of Clinical Trials Coupled with Growing R&D Investments
The industry is witnessing strong growth in the number of clinical trials year-on-year. Further, pharmaceutical companies are spending in R&D, including clinical trials, is steadily increasing with increase in their revenues. Increased spending on pharmaceutical R&D is the primary driver of the clinical trials packaging and labelling market. Additionally, as depicted in the figure below along with biologics, biosimilars approval is also rising. This indicates that the number of clinical trials related to biosimilars are likely to increase exponentially in the future due to expiry of biologics patent.
Growing Innovations and Technological Advancements
Innovative packaging technologies and designs, such as compression moulding, temperature controlled-sterilized containers, liquid injection moulding, and transfer moulding have been contributing to the growth clinical trial packaging market across the globe. The healthcare sector is moving ever more towards home-based monitoring and treatment. This challenges the packaging industry to develop products that meet the highest standards in healthcare and enable user-friendly yet child-proof packaging design. For instance, LyondellBasell Industries has launched a Low-Density Polyethylene (LDPE) grade for pharmaceutical packaging use. The new launched product offers higher temperature resistance to sterilization which reduces cost for customers to produce applications such as infusion bottles using blow-fill-seal (BFS) technology.
Where are the Market Opportunities?
Environmentally Safe Packaging
Pharmaceutical companies are putting a lot of emphasis on environment friendly measures across their entire value chain. The development of environmentally friendly packaging for pharmaceutical items has gained importance in recent years. Scientists have started developing substitute materials to limit the use of plastic throughout the whole supply chain as the need to reduce plastic consumption and lower carbon footprints across industries grows. This includes clinical trial packaging supply chain as well. Hence, suppliers offering clinical trial materials with lesser environmental footprint are likely to be preferred over those who are not very environmentally friendly.
The major players operating in the clinical trial packaging and labelling market are Alcami Corporation, Inc., Almac Group, Caligor Coghlan, Clinigen Clinical Supplies Management, CordenPharma International, Fisher Clinical Services, Inc., Körber AG, Mawdsley-Brooks & Co. Ltd., NextPharma Technologies, OLIVER, Parexel International Corporation, Piramal Enterprises Ltd., PCI Pharma Services, Sentry BioPharma Services, Inc., Sharp Services, LLC, WestRock Company, WuXi AppTec, and Xerimis among others. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
• In July 2022, Sharp joined together with the ClinsChain company in order to increase its market penetration in China. The collaboration allowed Sharp to provide local clinical study knowledge to pharma clients while maximising the effectiveness of a pre-existing service exchange between Sharp and ClinsChain.
• In September 2022, WestRock Company acquired an HP PageWide T1190 Press to complement and expand its portfolio of unmatched corrugated printing capabilities.
Notes for Editors
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