GMP Testing Service Market Growth Report 2021 to 2031
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.
GMP Testing Service Market Analysis
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 $130 Bn by 2030. Thus, growing pharmaceutical industry is likely to increase the demand for GMP testing services.
GMP Testing Service Market Overview
Increasing regulatory requirements, growing drug development activities, rise in development of biopharmaceuticals and biosimilars, increase in outsourcing of testing services to contract research organizations (CROs) and contract manufacturing organizations (CMOs), growing pharmaceutical industry in the emerging markets, development of medical devices to treat chronic diseases are factors driving the growth of the GMP testing service market.
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GMP Testing Service Market: Strategic Insights
Market Size Value in US$ 1,830.57 Million in 2021 Market Size Value by US$ 2,863.42 Million by 2028 Growth rate CAGR of 6.7% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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GMP Testing Service Market: Strategic Insights
| Market Size Value in | US$ 1,830.57 Million in 2021 |
| Market Size Value by | US$ 2,863.42 Million by 2028 |
| Growth rate | CAGR of 6.7% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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GMP Testing Service Market Drivers and Opportunities
Flourishing Medical Device Industry is likely to Increase the Demand for GMP Testing Service.
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.
Emerging Markets
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.
GMP Testing Service Market Report Segmentation Analysis
Key segments that contributed to the derivation of the GMP testing service market analysis are product, and end user.
- Based on service type, the global GMP testing service market is segmented into product validation testing, bioanalytical services, packaging and shelf-life testing, and other service types. The product validation testing segment held the largest market share in 2023. Moreover, the product validation testing segment is expected to register the highest CAGR during the forecast period.
- By end-user, the global GMP testing service market is segmented into pharmaceutical & biopharmaceutical companies and medical devices companies. The pharmaceutical and biopharmaceutical segment held the largest share of the market in 2023 and the same segment is anticipated to register the highest CAGR in the market during the forecast period.
GMP Testing Service Market Share Analysis by Geography
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.
GMP Testing Service Market Report Scope
GMP Testing Service Market News and Recent Developments
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 Tübingen analytics group of Berghof Analytik und Umwelt engineering GmbH is now part of the Eurofins network of companies. Under the name Eurofins Food Testing Süd GmbH, a new GMP analytics site is established with a focus on residue analysis in herbal raw materials, extracts and pharmacopoeia analysis (Source: Eurofins Scientific, Press Release, April 2022)
- Almac Group Announced £500,000 Investment in NMR Technology to Enhance Security, Flexibility, and Capacity in Analytical Services. High-resolution NMR is a key enabling technology that delivers advanced characterisation and purity assessment abilities in line with regulatory requirements. The service helps deliver comprehensive solutions that support drug substance (API) and drug product development programs, from early phase to commercialisation. (Source: Almac Group, Newsletter, April 2022)
- Nelson Labs launched the Nelson Labs Mark, a verification program for product testing that authenticates test reports and provides reliable data on product performance. The new offering empowers consumers to make informed decisions when purchasing face masks and respirators and provides credible manufacturers with the means to differentiate their products from others on the market. (Source: Nelson Labs, Newsletter, February 2022)
GMP Testing Service Market Report Coverage and Deliverables
The “GMP Testing Service Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- GMP testing service market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- GMP testing service market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- GMP testing service market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the GMP testing service market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Service Type, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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