Dublin, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The "Global Market for Extractable and Leachable Testing Services 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global extractable and leachable testing services market is poised for substantial growth, with a projected market size of USD 2.57 billion by 2030, representing a robust CAGR of 15.13% from 2023 to 2030. Several factors are contributing to this growth:
Key Drivers:
- Rising Demand for Biopharmaceuticals: The increasing demand for biopharmaceuticals has driven the need for extractable and leachable (E&L) testing to ensure patient safety and mitigate cross-contamination risks.
- Advancements in Single-Use Systems: Notable progress in bioprocess engineering and the adoption of biopharmaceuticals have fueled the growth of single-use systems. These systems offer advantages like reduced cross-contamination risk, quicker production, cost-effectiveness, and production flexibility, further boosting the demand for E&L testing.
- Evolving Regulatory Norms: Evolving regulatory requirements have created a significant demand for E&L testing services in the healthcare industry. Providers are developing precise and custom testing solutions to meet these requirements.
- Specialized Conferences and Initiatives: Initiatives like E&L conferences, which focus on the importance of E&L testing and regulatory updates, contribute to market growth and awareness.
Market Segmentation:
- Product Type: Container closure systems accounted for 31% of the market share in 2022, driven by their ability to offer long-term stability.
- Application: Orally inhaled and nasal drug products had the highest market share (41.88%) in 2022, reflecting the growing demand for novel drug delivery methods.
- Regional Growth: North America held a leading position in 2022, with a revenue share of 43.71%, driven by the adoption of innovative technologies and biopharmaceuticals. The Asia Pacific demonstrated significant growth with a remarkable CAGR of 15.32%, mainly due to the expansion of the biopharmaceutical industry and increased demand for vaccine production.
As the biopharmaceutical industry continues to expand and regulatory requirements evolve, the extractable and leachable testing services market is expected to play a pivotal role in ensuring the safety and quality of healthcare products. This market offers significant growth opportunities for service providers, especially in regions with a growing biopharmaceutical sector.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $839 Million |
| Forecasted Market Value (USD) by 2030 | $2.57 Billion |
| Compound Annual Growth Rate | 15.1% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Global Extractable and Leachable Testing Services Market: Methodology and Scope
Chapter 2. Global Extractable and Leachable Testing Services Market: Executive Summary
Chapter 3. Global Extractable and Leachable Testing Services Market Variables, Trends, & Scope
Chapter 4. Global Extractable and Leachable Testing Services Market: Product Type Estimates & Trend Analysis
Chapter 5. Global Extractable and Leachable Testing Services Market: Application Estimates & Trend Analysis
Chapter 6. Global Extractable and Leachable Testing Services Market: Regional Business Analysis
Chapter 7. Global Extractable and Leachable Testing Services Market: Competitive Landscape
Companies Mentioned
- Eurofins Scientific
- Intertek Group plc
- SGS Societe Generale de Surveillance SA
- WuXi AppTec
- Merck KGaA
- West Pharmaceutical Services, Inc.
- Wickham Micro Limited (Medical Engineering Technologies Ltd.)
- Pacific Biolabs
- Boston Analytical
- Sotera Health (Nelson Laboratories, LLC)
For more information about this report visit https://www.researchandmarkets.com/r/g6046i
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