GMP Testing Service Market size was valued at $ 1.34 Billion in 2023, and is projected to reach $ 2.15 Billion by 2030, registering a CAGR of 6.98 % from 2023 to 2030.
The pharmaceutical industry's quick growth and the developing trend of medication and device development are the main factors contributing to the market growth for GMP testing services. Biopharmaceutical businesses are increasingly developing pharmaceuticals and devices, which is projected to drive the expansion of the studied industry. This trend is driven by the growing burden of chronic diseases, rising healthcare costs, and the impending patent expiration of blockbuster drugs. Furthermore, it is anticipated that the growth of the market under study will be fueled by the pharmaceutical companies' growing R&D efforts to introduce cutting-edge medications with cutting-edge characteristics and form strategic alliances.
Pharmaceutical companies allocate a significant portion of their budget to technical improvements, market expansion in developing nations, and internal research and development activities. This corresponds directly to higher drug discovery spending. In addition to the advent of innovative therapies, the manufacturing of biopharmaceuticals has increased due to the introduction of biosimilars, or generic biopharmaceuticals. The development of generic medications has received a lot of attention as a result of the numerous patents that are expiring. Pharma development is the process of creating, constructing, and expanding a method to turn promising compounds created in the laboratory into medications intended for human consumption. It constantly provides safe and efficient doses of medication, allowing for the testing of its purity and longevity.
The market is expected to increase quickly in the upcoming years due to the significant role that GMP testing services play. Consequently, the researched market is anticipated to increase over the projected period due to rising investment in the pharmaceutical and medical device industrial sector, research and development efforts in both developed and developing countries, coupled with growing product approvals.
The growing requirement for drug and device manufacturers to keep to good manufacturing practices in their daily research and development activities is expected to drive the market for GMP testing services to healthy growth in the upcoming years. This is necessary to ensure the regulatory bodies approve the target products on time. Future demand for GMP testing services is anticipated to increase due to the growing focus of major pharmaceutical and biopharmaceutical firms on developing a variety of therapies and medical devices intended to provide effective treatment for a wide range of chronic conditions.
Global GMP Testing Service Market, Segmentation
The GMP Testing Service Market is segmented based on type, end-user, and region.
Type:
The segment that dominated was product validation testing. Product validation testing is growing more and more in demand as medical device validation and verification become more and more important. To ensure quality, pharmaceuticals and medical equipment must adhere to a set of standards. Based on the previously mentioned factors, it is expected that the product validation testing segment will have significant growth throughout the projection period. As a result of all of the above, the bioanalytical testing segment is anticipated to increase significantly over the forecast period.
End User:
The segment that dominated was that of pharmaceutical and biopharmaceutical firms. For the forecast period, the pharmaceutical and biopharmaceutical industries' innovative drug development will be driving the market expansion of this category. The pharmaceutical industry's need for GMP testing has grown along with research and development efforts. GMP testing services are in great demand due to medical device manufacturers. The need for medical device GMP testing services has grown as a result of the COVID-19 pandemic since these services are essential for protecting consumers from dangerous and defective medical devices.
Region:
The market's North American segment was dominant. Due to the growing number of clinical trials, the presence of major market players, the expanding pharmaceutical sector, and the increased development of drugs and devices, the United States will likely lead the global market for GMP testing services during the forecast period. The developed biopharmaceutical and healthcare infrastructure of European nations facilitates the establishment of several enterprises. Thus, it is expected that the aforementioned factors will propel the growth of the regional market in the years to come. The expansion of the pharmaceutical and medical sectors, as well as the rising development of drugs and devices, are some of the key drivers pushing the growth of the Chinese market. The expanding biotech, pharmaceutical, and medical device sectors in the Asia-Pacific area are the primary drivers of the market's expansion. Growth in the market is going to be supported by the rising R&D efforts.
Some of The Leading/Active Market Players Are-
- Eurofins Scientific (Luxembourg)
- PPD Inc. (US)
- Microchem Laboratory (U.S)
- Sartorius AG (Germany)
- North American Science Associates Inc. (Pittsburgh, PA)
- Laboratory Corporation of America Holdings (Covance Inc.) (US)
- Sotera Health (Nelson Laboratories LLC) (Salt Lake City, UTAH)
- Almac Group (UK)
- Pace Analytical (US)
- Wuxi AppTec (China) and Other Active Players
Key Industry Developments
- In April 2023, Thermo Fisher Scientific expanded its capabilities from development to commercial manufacturing in France. The early development hub includes a 430 sq. m (4,600 sq. ft) research and development facility for pre-clinical, non-GMP operations and expanded good manufacturing practices (GMP) facilities.
- In February 2022, the analytical testing services laboratories of the Centre for Breakthrough Medicines (CBM) were established to provide the most complete testing capabilities in the sector. These essential service provisions address expanding capacity requirements in the cell & gene therapy business, which is highly supply-constrained.
Key Findings of the Study
- The global GMP Testing Service Market was valued at $1.34 billion in 2023 and is projected to reach $2.15 billion by 2030, with a CAGR of 6.97% during the forecast period.
- The dominance of product validation testing and pharmaceutical/biopharmaceutical firms as key segments underscores the importance of quality assurance in the industry.
- Europe and Asia-Pacific drive market growth with strong biopharmaceutical and healthcare infrastructure.
