The GMP testing service market size is projected to reach US$ 2.64 billion by 2031 from US$ 1.57 billion in 2023. The market is expected to register a CAGR of 6.7% during 2023–2031. Innovations in analytical methods and equipment are likely to remain key trends in the market.
Proliferation of pharmaceutical industry is the key factor driving the market's growth. The Indian pharmaceutical industry was values US$ 50 billion in 2023 and is expected to reach $65 Bn by 2024 and to $130 Bn by 2030. Thus, growing pharmaceutical industry is likely to increase the demand for GMP testing services.
Increasing regulatory requirements, growing drug development activities, rise in development of biopharmaceuticals and biosimilars, increase in outsourcing of testing services to contract research organizations (CROs) and contract manufacturing organizations (CMOs), growing pharmaceutical industry in the emerging markets, development of medical devices to treat chronic diseases are factors driving the growth of the GMP testing service market.
Medical device manufacturers must comply with GMP regulations to meet the regulatory requirements of FDA, EMA or any other international regulatory agency. GMP tests ensures the quality and the specified standard of medical device. As per the German Medical Technology Association (BVMed), Germany is the holds the largest number of patent applications in the MedTech industry across the globe. In 2022, the German medical technology industry registered 1,391 patents with the European Patent Office. Thus, growing innovations in the medical technology industry is likely to increase the demand for GMP testing services.
Growing medical device and pharmaceutical industry, improving healthcare infrastructure, growing regulatory requirements to align with international standards, the growing export of healthcare products and rising investments in the healthcare industry are likely to create growth opportunities for the GMP testing service market in emerging markets. For instance, South Korea exports reached US$ 7,878 million in 2022 from US$ 3,710 million in 2019.
Key segments that contributed to the derivation of the GMP testing service market analysis are product, and end user.
The geographic scope of the GMP testing service market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The North America GMP testing service market is segmented into the US, Canada, and Mexico. The US held the largest share of the North America GMP testing service market in 2021. The growing pharmaceutical industry and the increasing need for developing novel drugs and medical devices are accelerating the growth of North America's GMP testing service market. Moreover, the rising government health expenditure and the rising outsourcing activities for quality assurance of medical products are propelling the market's expansion in this region.
Asia Pacific (APAC) is the fastest-growing regional market for GMP testing services. Asia Pacific GMP testing services market is segmented into China, India, Japan, South Korea, Australia, and Rest of APAC. Asia Pacific has accounted market share of the global GMP testing services market, owing to growing pharmaceutical industry along with rising number of players in the region. Regulation and rising awareness are also boost the GMP testing services demand. These factors are expected to propel the Asia Pacific GMP testing services market in the coming years.
The regional trends and factors influencing the GMP Testing Service Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses GMP Testing Service Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.57 Billion |
| Market Size by 2031 | US$ 2.64 Billion |
| Global CAGR (2023 - 2031) | 6.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Service Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The GMP Testing Service Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the GMP Testing Service Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The GMP testing service market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the GMP testing service market are listed below:
The “GMP Testing Service Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The GMP testing service market is estimated to grow with a CAGR of 6.7% from 2023 to 2031.
The estimated value of the GMP testing service market by 2031 is US$ 2.64 billion
The GMP testing service market majorly consists of the players such as Eurofins Scientific, North American Sciences Associates LLC, Almac Group, PPD, Inc, Intertek Group Plc, Nelson Laboratories, Wuxi Apptec, Sartorius AG, Boston Analyticals, and Pace Analyticals among others.
Technological advancements related to GMP testing services products are likely to remain key trends in the market.
Continuous proliferation of pharmaceutical industry and the flourishment of medical devices industry are expected to boost the market growth over the years. However, lack of uniform regulatory framework related to GMP testing services are likely to have a negative impact on the growth of the market in the coming years.
North America dominated the GMP testing service market in 2023