The market for GMP testing services is anticipated to grow rapidly, with an estimated valuation of $7,483.7 million by 2031 and a consistent CAGR of 7.8% from 2021 to 2031. The pharmaceutical industry's expansion and the rising need for creating novel medications and medical devices, the rise in outsourcing operations for quality assurance, and the explosive growth of the cosmetics and food & beverage industries are the main factors driving the market's expansion.
GMP (Good Manufacturing Practise) testing services are in more demand as the pharmaceutical business develops. Pharmaceuticals and medical devices are made, managed, and tested in accordance with quality standards thanks to GMP testing. Pharmaceutical firms rely on GMP testing services to meet regulatory standards and guarantee the safety, quality, and efficacy of their goods as the need for producing new medications and medical devices increases.
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Additionally, pharmaceutical businesses are increasingly outsourcing quality assurance tasks, such as GMP testing services. Cost reductions, access to specialised knowledge, and improved operational efficiency are all made possible through outsourcing. The market's need for GMP testing services is further fueled by the expanding outsourcing activities.
Additionally, the food and beverage and cosmetics industries are expanding significantly, which is opening up new potential for the market for GMP testing services. These industries are putting more and more emphasis on following GMP regulations in order to ensure product quality, integrity, and compliance as consumers become more concerned about product quality and safety. The importance of GMP testing services in ensuring the high quality and security of food and cosmetic products is shown in the market's expansion.
The pharmaceutical industry's expansion, rising outsourcing operations, and the swift rise of the cosmetics and food & beverage industries will all contribute to the significant growth of the global GMP testing service market. Businesses working in this market can take advantage of the rising need for GMP testing services to achieve significant growth, with a projected valuation of $7,000 million by 2031.
Highlighted with 80 tables and 74 figures, this 154-page report “Global GMP Testing Service Market 2021-2031 by Service Type (Product/Process Validation Testing, Bioanalytical Services, Packaging and Shelf-life Testing, Others), Service Provider (In-house Facilities, Outsourced Facilities), End User (Pharmaceutical and Biopharmaceutical Companies, Medical Device Companies, Cosmetic Companies, Food and Beverage Companies, Others), and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global GMP testing service market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2018-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
- Market Structure
- Growth Drivers
- Restraints and Challenges
- Emerging Product Trends & Market Opportunities
- Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and the Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global GMP testing service market in every aspect of the classification from perspectives of Service Type, Service Provider, End User, and Region.
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Based on Service Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Product/Process Validation Testing
- Bioanalytical Services
- Packaging and Shelf-life Testing
- Other Service Types
Based on Service Provider, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- In-house Facilities
- Outsourced Facilities
By End User, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Pharmaceutical and Biopharmaceutical Companies
- Medical Device Companies
- Cosmetic Companies
- Food and Beverage Companies
- Other End Users
Geographically, the following regions together with the listed national/local markets are fully investigated:
- North America (U.S., Canada, and Mexico)
- Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
- APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (UAE, Saudi Arabia, South Africa, Other Nations)
For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of key national markets by Service Type, Service Provider, and End User over the forecast years are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players:
- Almac Group
- Charles River Laboratories
- Covance Inc.
- Eurofins Scientific
- Intertek Group Plc
- Microchem Laboratory
- Nelson Laboratories LLC
- North American Science Associates Inc.
- Pace Analytical
- PPD Inc.
- Sartorius AG
- Wuxi AppTec
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