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Clinical Trial Packaging Market - Evolutionary Trend to Step Ahead in Packaging Industry - Forecast 2024
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Traditionally, pharmaceutical companies have been reluctant in investing in clinical trial packaging, as only a small percentage of drugs have reached the commercialization stage. Since clinical trial packaging is used for medicines which are yet not commercialized, and it is to be taken under necessary guidelines, therefore, there is an additional responsibility to concern manufacturer of the package in such a manner which can be used as tool to drive patient adherence and make them aware frequently to take the dosage correctly and the repercussion of not following the protocol correctly. In the near future, to increase compliance of patient’s clinical trial packaging will be intrigued with smart packaging technologies.
Clinical Trial Packaging Market: Drivers & Restraints
Incurable diseases and viruses across globe are on rise, pharmaceutical companies are constantly engaging for cures for various diseases, government investments and funds are being allotted for find cures, willingness of patients to undergo clinical trial are few of the factors which will boot the demand for clinical trial packaging. Considering the rise in clinical trials for cures and investments by pharmaceutical industries for invention of new drugs and breakthrough in cures restraints for clinical trial packaging is bleak.
Clinical Trial Packaging Market: Market Segmentation
Based on type, the clinical trial packaging market can be segmented as follows:
Primary Packaging : HDPE (High-density polyethylene) bottle and cap
Secondary Packaging : Kit or Pack
Based on treatment, clinical trial packaging can be segmented as follows:
Oral
Injections
Based on end users, the clinical trial packaging market can be segmented as follows:
Hospitals
Clinics
Clinical Trial Packaging Market: Regional Outlook
Based on geography, the clinical trial packaging market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America and Rest of the World. Out of these regions, North America holds the clinical trial packaging market followed by Europe. The major factors which have leading position in propelled the growth of this market in these regions are rising invention of drug for various diseases such as cancer and HIV. Asia Pacific is developing at a very steady rate and is one of the most promising markets for the growth of clinical trial packaging market. The factors which have accentuated the growth of this market in Asia Pacific are increasing incidences of rising diseases such as dengue, tuberculosis, encephalitis etc. whose permanent cure is yet to be discovered. Furthermore, increasing disposable incomes of the population, easy market penetration, favorable government policies in Asian countries would most likely fuel the growth of clinical trial packaging market during the forecast period.
The clinical trial packaging market is expected to offer lucrative opportunities to manufacturers owing to increasing prevalence of chronic diseases. Some of the key players in clinical trial packaging include WuXi AppTec, Fisher Clinical Services, Inc., Almac Group Catalent, Inc, Pharmaterials Ltd, PCI, Schreiner MediPharm, Sanofi, Sharp Packaging Services, The Coghlan Group, Rubicon Research Pvt. Ltd., Almac and MWV.
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