New York, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GMP Testing Service Market: Trends, Opportunities and Competitive Analysis [2023-2028]" - https://www.reportlinker.com/p06489123/?utm_source=GNW
GMP Testing Service Market Trends and Forecast
The future of the global GMP testing service market looks promising with opportunities in the pharmaceutical, cosmetic, food & beverage, and medical device applications. The global GMP testing service market is expected to reach an estimated $2.0 billion by 2028 with a CAGR of 6.1% from 2023 to 2028. The major drivers for this market are increasing requirement for medical drug and device manufacturers to ensure compliance with good manufacturing practises, rising use of this method to lower risk of product failure, contamination, and quality variation, and growing use of bioanalytical testing services for medicine development and validation in preclinical and clinical stages.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown here.
GMP Testing Service Market by Segment
The study includes trends and forecast for the global GMP testing service market by service type, service provider, application, and region
GMP Testing Service Market by Service Type [Shipment Analysis by Value from 2017 to 2028]:
• Product Validation Process
• Environmental Monitoring
• Bio Analytical Services
• Packaging and Shelf-life Testing
GMP Testing Service Market by Service Provider [Shipment Analysis by Value from 2017 to 2028]:
• In-House Facilities
• Outsourced Facility
GMP Testing Service Market by Application [Shipment Analysis by Value from 2017 to 2028]:
• Pharmaceutical
• Cosmetic
• Food and Beverage
• Medical Device
• Others
GMP Testing Service Market by Region [Shipment Analysis by Value from 2017 to 2028]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of GMP Testing Service Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies GMP testing service companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the GMP testing service companies profiled in this report include-
• Almac Group
• PPD
• Pace Analytical Services
• Microchem Laboratories
• Sartorius
• North American Science Associates
• GMP Testing Laboratories
GMP Testing Service Market Insights
• The analyst forecasts that product validation process is expected to witness the highest growth over the period due to significant application of GMP to provide higher quality and safer service management.
• Pharmaceutical will remain the largest segment due to constant advancement in drug discovery, huge public demand for vaccines, and significant need for equipment validation testing services for the pharmaceutical industry.
• North America will remain the largest region over the forecast period due to existence of major pharmaceutical companies, growing number of chronic disease cases, and on-going technological advancements in the region.
Features of the Global GMP Testing Service Market
• Market Size Estimates: GMP testing service market size estimation in terms of value ($B).
• Trend and Forecast Analysis: Market trends (2017 to 2022) and forecast (2023 to 2028) by various segments and regions.
• Segmentation Analysis: GMP testing service market size by various segments, such as by service type, service provider, application, and region in terms of value ($B).
• Regional Analysis: GMP testing service market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different service types, service providers, applications, and regions for the GMP Testing Service Market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the GMP Testing Service Market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the GMP testing service market size?
Answer: The global GMP testing service market is expected to reach an estimated $2.0 billion by 2028.
Q.2 What is the growth forecast for GMP testing service market?
Answer: The global GMP testing service market is expected to grow with a CAGR of 6.1% from 2023 to 2028.
Q.3 What are the major drivers influencing the growth of the GMP testing service market?
Answer: The major drivers for this market are increasing requirement for medical drug and device manufacturers to ensure compliance with good manufacturing practises, rising use of this method to lower risk of product failure, contamination, and quality variation, and growing use of bioanalytical testing services for medicine development and validation in preclinical and clinical stages.
Q4. What are the major segments for GMP testing service market?
Answer: The future of the GMP testing service market looks promising with opportunities in the pharmaceutical, cosmetic, food & beverage, and medical device applications.
Q5. Who are the key GMP testing service companies?
Answer: Some of the key GMP testing service companies are as follows:
• Almac Group
• PPD
• Pace Analytical Services
• Microchem Laboratories
• Sartorius
• North American Science Associates
• GMP Testing Laboratories
Q6. Which GMP testing service market segment will be the largest in future?
Answer: The analyst forecast that product validation process is expected to witness highest growth over the period due to significant application of GMP to provide higher quality and safer service management.
Q7. In GMP testing service market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to existence of major pharmaceutical companies, growing number of chronic disease cases, and on-going technological advancements in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, The analyst provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the global GMP testing service market by service type (product validation process, environmental monitoring, bio analytical services, and packaging & shelf-life testing), service provider (in-house facilities and outsourced facility), and application (pharmaceutical, cosmetic, food & beverage, medical device, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to GMP testing service market or related to GMP testing service companies, GMP testing service market size, GMP testing service market share, GMP testing service market growth, GMP testing service market research, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.
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