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GMP Testing Service Market 2022 Growth Statistics, Demand by Regions, Top Key Players Strategies and Forecast till 2028

Market Overview:

The GMP Testing Service market is projected to reach USD 1.88 billion by 2028 from an estimated USD 1.17 billion in 2021, growing at a CAGR of 6.97% globally.

GMP Testing ServiceGMP stands for ‘Good Manufacturing Practice,’ and it is a regulation or guideline that ensures products are consistently produced and controlled in accordance with quality standards. It is designed to reduce or minimize the risks of contaminations, mix-ups, and errors from pharmaceutical and biopharmaceutical production. It ensures the quality, purity, and safety of products. GMP regulations regulate and maintain the personnel qualifications, record-keeping, cleanliness, sanitation, equipment verification, process validation, and complaint handling. Most GMP requirements are very common or open-ended, and they give the permission to each manufacturer to choose individually how to carry out necessary controls. GMP also called GMP means ‘current GMP’ which evokes manufacturers to keep the technologies and system up-to-date in order to follow regulations. GMP testing services are an essential aspect for pharmaceutical or biopharmaceutical products to ensure the quality of the products. The growing consumer awareness is the main factor propelling the growth of the GMP services market over the projected timeframe.

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Major Key Players for GMP Testing Service Market:

  • Eurofins Scientific
  • PPD Inc.
  • Microchem Laboratory
  • Sartorius AG
  • North American Science Associates Inc.
  • Laboratory Corporation of America Holdings (Covance Inc.)
  • Sotera Health (Nelson Laboratories LLC)
  • Almac Group
  • Pace Analytical
  • Wuxi AppTec
  • Intertek Group PLC
  • Charles River Laboratories

Market Dynamics and Factors:

The rising research and developments of new pharmaceutical drugs globally, has resulted in new formulations being adopted for treatment of diseases. For instance, Statista stated that 11,351 drugs were in the preclinical phase of the research and development pipeline at the beginning of 2022. Additionally, the growing number of pharmaceutical and biopharmaceutical sectors, and the rising need for sterile and aseptic production types of machinery is creating a profitable opportunity for the market players. GMP regulations also governs the manufacturing of new medical devices. GMP play important role in ensuring the proper design, monitoring, and control of manufacturing process and facilities. This helps to maintain the identity, strength, and quality of products. These factors are expected to support the growth of the GMP testing service market in the forecasted period. Moreover, the high cost related to GMP compliance will hamper the growth of the market over the analysis period.

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GMP Testing Service Market Report Highlight:

  • By type, the product validation testing segment is expected to have the maximum market share in GMP testing service during the projected period. The rising need for verification and validation of pharmaceutical and medical devices/products propels the growth of the market in the forecast period.
  • By end-users, the pharmaceutical and biopharmaceutical companies segment is predicted to expand the most in the GMP testing service market during the forecast year. The growing research and development of novel drugs in pharmaceutical and biopharmaceutical companies support the growth of the market.
  • By region, North America is expected to dominate the GMP testing service market, during the projected period. The presence of a large number of market players in this region boosts the growth of the market in the forecast period.

Key Industry Development:

  • In April 2021, PPD Inc.’s global contract research leader declared that they expand the Good Manufacturing Practice (GMP) lab in Ireland to improve its biopharmaceutical testing capabilities.
  • In December 2021, the BioPharma product testing network of laboratories expanded its footprint of GMP testing laboratories with the recent acquisition of Astellas Analytical Science Laboratories, Inc. (ASL) announced by Eurofins. ASL established Eurofins’ first Good Manufacturing Practice (GMP) testing facility in Japan with this acquisition.

GMP Testing Service Market Segmentation:

By Type

  • Product Validation Testing
  • Bioanalytical Services
  • Packaging
  • And Shelf-Life Testing
  • And Other Service Types

By End-User

  • Pharmaceutical and Biopharmaceutical Companies
  • Medical Devices Company

For this report, Introspective Market Research has segmented the GMP Testing Service Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Turkey
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Vietnam
    • Thailand
    • Rest of Asia-Pacific
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Iran
    • Rest of MEA
  • Latin America
    • Brazil
    • Argentina
    • Rest of LATAM

Customization of the Report:

https://introspectivemarketresearch.com/custom-research/15848

Scope of the Report:

The objective of the research is to provide the market knowledge and strategic insights to assist decision-makers in making informed investment decisions and identifying potential gaps and growth opportunities. Historical revenue and sales volume are reported, and additional data is triangulated using top-down and bottom-up methodologies to predict forecast numbers for important regions covered in the research, as well as classified and well-known Types and end-use industries. GMP Testing Service Market study explores the competitive landscape of the global market. In addition to rival market share research, in-depth profiling, product/service, and business overviews, the study focuses on BCG matrix, heat map analysis, and SWOT analysis to better correlate market competitiveness. Five forces analysis, Ansoff matrix, PESTEL analysis, and value chain analysis are used to better understand market conditions.

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Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyse extremely large sets of data to discover deeper insights and provide conclusive

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