GMP Laboratory Testing Service Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

GMP Laboratory Testing Service - Market Size

The global market for GMP Laboratory Testing Service was estimated to be worth US$ 1360 million in 2023 and is forecast to a readjusted size of US$ 1989.9 million by 2030 with a CAGR of 5.6% during the forecast period 2024-2030.

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Good Manufacturing Practice (GMP) is a system for ensuring that products are consistently produced and controlled according to quality standards. It is designed to minimize the risks involved in any pharmaceutical production that cannot be eliminated through testing the final product.GMP testing service is a system that consists of processes, procedures and documentation that ensures manufacturing service such as pharmaceutical service that is consistently produced and controlled according to set quality standards.

The global GMP (Good Manufacturing Practice) laboratory testing service market refers to the market for outsourced testing services that adhere to the quality standards and regulations set by Good Manufacturing Practices. GMP ensures that pharmaceutical, biotechnology, medical device, and other industries maintain high-quality manufacturing processes and products.

The market for GMP laboratory testing services has been growing due to the increasing complexity of manufacturing processes, stricter regulatory requirements, and the need for specialized expertise in testing and analysis. Pharmaceutical and biotechnology companies, as well as contract manufacturing organizations (CMOs), often outsource their testing needs to specialized GMP laboratories.

Key factors driving the growth of the global GMP laboratory testing service market include:

Regulatory Compliance: Stringent regulations imposed by regulatory authorities, such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), require companies to conduct GMP-compliant testing of their products. This drives the demand for GMP laboratory testing services to ensure compliance and product safety.

Quality Control and Assurance: GMP laboratory testing services play a critical role in ensuring the quality, purity, potency, and safety of pharmaceutical products, medical devices, and biologics. These services encompass a wide range of testing, including analytical chemistry, microbiology, stability testing, method validation, and more.

Increasing Outsourcing Trend: Many pharmaceutical and biotechnology companies are outsourcing their testing requirements to external GMP laboratories to reduce costs, access specialized expertise, and improve operational efficiency. This trend further fuels the growth of the GMP laboratory testing service market.

Focus on R&D: The continuous need for research and development activities in the pharmaceutical and biotechnology sectors drives the demand for GMP laboratory testing services, as these services support product development, clinical trials, and formulation optimization.

Growing Biopharmaceutical Industry: The rapid growth of the biopharmaceutical sector, including biologics and biosimilars, necessitates specialized testing services to ensure the safety and efficacy of these complex products.

Increasing Outsourced Manufacturing: With the rise of contract manufacturing organizations (CMOs) and the outsourcing of manufacturing processes, there is a greater demand for GMP laboratory testing services to ensure the quality of the outsourced products.

Geographically, North America, Europe, and Asia Pacific are major contributors to the global GMP laboratory testing service market, driven by the presence of a robust pharmaceutical industry, stringent regulations, and increasing outsourcing trends.

By Type
• Product Validation Testing
• Bioanalytical Services
• Packaging & Shelf-Life Testing

By Application
• Pharmaceutical and Biopharmaceutical Companies
• Medical Device Companies

Key Companies
Eurofins Scientific, Almac, American Testing Lab Inc., EMSL Analytical, Inc, Intertek, North American Sciences Associates, LLC, PPD, Inc, Wuxi Apptec, Sartorius AG, Boston Analytical Services, Pace Analytical, Pearl River Labs, Marfleet Analytics, Nelson Labs, ChRi Labs, NMI Technologietransfer GmbH, BJP Laboratories Pty Ltd, Broughton Group

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This release was published on openPR.