Press release
Rising Demand for Pharmaceutical Quality Control Solutions Driven by Patient Safety and Technological Advances
The global pharmaceutical quality control market size was USD 2.28 Billion in 2022 and is expected to register a rapid revenue CAGR of 10.6% during the forecast period. The pharmaceutical quality control market is experiencing significant growth due to a heightened focus on patient safety, the increasing prevalence of chronic illnesses, and the demand for generic drugs. As healthcare systems worldwide strive to enhance the authenticity and safety of pharmaceutical products, the market is witnessing a shift toward advanced technologies and automation.Key Market Drivers
The rising incidence of chronic diseases has increased the need for safe and effective pharmaceutical solutions. A growing global population is fueling demand for reliable medications. Patient safety remains paramount in the pharmaceutical industry, prompting organizations like the European Medicines Agency's Quality Innovation Expert Group (QIG) to support innovative practices in medication development and quality control. This group emphasizes the importance of integrating new technologies and digital solutions to improve patient outcomes.
Quality control is crucial in ensuring that all pharmaceutical products are manufactured safely and effectively. It plays a vital role in preventing contamination and ensuring patient trust. Furthermore, there is a growing demand for integrated analytical services that encompass all stages of drug development, manufacturing, and testing, further driving market growth.
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Innovations and Advancements
Technological advancements and innovations by leading market players are expected to propel market revenue in the coming years. For instance, in July 2020, Liberty General Insurance introduced 'Critical Connect,' offering flexible health insurance plans for various critical illnesses, showcasing the increasing focus on patient-centered solutions in the healthcare sector.
Market Challenges
Despite the positive growth factors, the pharmaceutical quality control market faces several challenges. A shortage of experienced professionals and the complexity of regulatory procedures could hinder market expansion. New regulations and the demand for compliance pose challenges for pharmaceutical testing worldwide. The lack of skilled workers adept at navigating these quality control processes adds to the difficulties faced by the industry.
Market Segmentation Insights
The pharmaceutical quality control market is segmented based on product type, deployment type, and end-use.
Product Type: The market includes consumables, instruments, and services. The consumables segment accounted for the largest share in 2022, driven by the widespread use of medical consumables such as syringes, gloves, and assay kits. These items are essential for maintaining accurate quality control standards and ensuring the safety and effectiveness of pharmaceuticals.
Deployment Type: The market is divided into cloud-based and web-based solutions, as well as on-premises options. The on-premises segment is expected to see steady growth due to its critical role in pharmaceutical management. However, cloud-based solutions are also gaining traction, offering benefits like flexibility, scalability, and real-time data access, making them attractive for many pharmaceutical companies.
End-Use: The end-use segment comprises pharmaceutical and biotechnology companies, Contract Development and Manufacturing Organizations (CDMO), Contract Research Organizations (CRO), and research laboratories. The pharmaceutical and biotechnology companies segment is anticipated to grow rapidly as these sectors require strict quality control measures to ensure patient safety and product effectiveness.
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Pharmaceutical Quality Control Top Companies and Competitive Landscape
The global pharmaceutical quality control market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective pharmaceutical quality control solutions.
Some major players included in the global pharmaceutical quality control market report are:
ACG
Busch Machinery, Inc.
Uhlmann
Korber AG
MULTIVAC
Duke Technologies
Coesia S.p.A.
Marchesini Group S.p.A.
NJM Packaging Inc.
MG2 s.r.l.
Pharmaceutical Quality Control Latest Industry Updates
In November 2022, Nassau Financial Group disclosed its commitment for acquiring Delaware Life Insurance Company of New York through a formal and binding agreement with Delaware Life Insurance Company.
On 22 October, 2021, Bosch Packaging Technology, a division of Robert Bosch GmbH, introduced the MLF 5088, a new filling and closing machine for pharmaceutical vials. This machine is intended to be used in pharmaceutical production plants, where it provides excellent precision and flexibility in filling and sealing vials of various sizes and varieties.
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Pharmaceutical Quality Control Market Segmentation Analysis
For the purpose of this report, Emergen Research has segmented the global pharmaceutical quality control market on the basis of product, analysis type, deployment type, end use, and region:
Product Outlook (Revenue, USD Billion; 2019-2032)
Consumables
Instruments
Services
Analysis Type Outlook (Revenue, USD Billion; 2019-2032)
Sterility testing
Extractable and leachable testing
Endotoxin testing
Stability testing
Raw material testing
Others
Deployment Type Outlook (Revenue, USD Billion; 2019-2032)
Cloud-based & web-based
On-premises
End-Use Outlook (Revenue, USD Billion; 2019-2032)
Pharmaceutical and biotechnology companies
CDMO/CRO
Research laboratories
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Benelux
Russia
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
ASEAN Countries
Oceania
Rest of APAC
Latin America
Brazil
Mexico
Rest of LATAM
Middle East & Africa
GCC Countries
Israel
Turkey
South Africa
Rest of Middle East & Africa
Market Exploration Made Easy: Navigating Related Reports
Pharmaceutical Quality Control Market Size @ https://www.emergenresearch.com/industry-report/pharmaceutical-quality-control-market/market-size
Pharmaceutical Quality Control Market Share @ https://www.emergenresearch.com/industry-report/pharmaceutical-quality-control-market/market-share
Pharmaceutical Quality Control Market Trends @ https://www.emergenresearch.com/industry-report/pharmaceutical-quality-control-market/market-trends
Pharmaceutical Quality Control Regional Market Demand @ https://www.emergenresearch.com/industry-report/pharmaceutical-quality-control-market/regional-market-demand
Pharmaceutical Quality Control Market Analysis @ https://www.emergenresearch.com/industry-report/pharmaceutical-quality-control-market/market-analysis
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