The prevalence of a number of chronic diseases has been urging pharmaceutical companies to invest on research and development of clinical trials of new drugs, which is a costly and time-taking procedure. This incremented investment and involvement of several prestigious companies has been providing traction to the global clinical trial packaging market, according to a recent business and commerce publication by Transparency Market Research (TMR), which has projected the demand to increment at a notable CAGR during the forecast period of 2016 to 2024. The report, titled “Clinical Trial Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024,” is a comprehensive study of the current scenario and future prospects, compiled by healthcare professionals in order to serve as a credible business tool for its targeted audiences such as pharmaceutical companies, clinical trial suppliers CROs, healthcare institutions including clinics and hospitals, contract manufacturers, government agencies, and environment, health, and safety organizations.
The analysts of the TMR report have detected that until recently, pharmaceutical companies had been reluctant to invest on clinical trial packaging as a slender percentage of drugs reach commercialization stage. However, with adequate packaging using smart packaging technologies, the drugs have a stronger chance of making the desired impression. In addition to that, the global clinical trial packaging market is also driven by government investments and funds for finding the cure of chronic diseases.
Based on type, the clinical trial packaging market can be segmented into primary packaging including high-density polyethylene (HDPE) bottle and cap and secondary packaging including pack or kit. Treatment-wise, the market can be bifurcated into injections and oral. End user classification of clinical trial packaging market can be done into clinics and hospitals. Geographically, North America is currently maintaining its leading position.
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Sanofi, Fisher Clinical Services, Inc., WuXi AppTec, Almac Group Catalent, Inc, PCI, Pharmaterials Ltd, Schreiner MediPharm, Sharp Packaging Services, Rubicon Research Pvt. Ltd., The Coghlan Group, Almac and MWV are some of the key companies currently ahead of the curve in the global clinical trial packaging market.
