GMP Storage Market to See Steady Gains with Rising Drug Manufacturing Activities - Persistence Market Research

The Good Manufacturing Practice (GMP) storage market plays a pivotal role in the pharmaceutical, biotechnology, and healthcare industries. With a compound annual growth rate (CAGR) of 5.6% from 2022 to 2032, the market is set to reach a value of US$ 10.2 billion by 2032, up from approximately US$ 5.7 billion at the end of 2021. The increasing demand for temperature-sensitive biologics and advancements in cold chain technologies are key contributors to this impressive market growth. This article provides a detailed overview of the GMP storage market, including market statistics, growth drivers, key market segments, and regional trends, as well as insights into competitive strategies.

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Overview of the Market

The GMP storage market is characterized by its role in maintaining the integrity of temperature-sensitive biological products. These products, which include vaccines, blood plasma, biologics, and certain pharmaceuticals, require highly controlled storage conditions, either refrigerated or frozen, to ensure their efficacy and safety. With increasing demand for such products, driven by the global rise in biopharmaceutical manufacturing, the GMP storage market is witnessing rapid expansion.

The GMP storage market is an integral part of the global cold chain market, accounting for around 4.7% of the total cold chain market, which was valued at approximately US$ 119.98 billion in 2021. This market's growth is being driven by several factors, including the surge in biologics production, regulatory demands, and the shift towards outsourced storage services. These factors have led to a steady increase in demand for high-quality storage solutions that comply with stringent GMP standards.

Persistence Market Research has identified key growth drivers and challenges in the market. While the sector is growing rapidly, it also faces challenges such as the high capital expenditure required for building and maintaining GMP storage facilities. Despite these challenges, the demand for temperature-controlled storage is expected to rise significantly in the coming years.

Key Highlights from the Report

• The GMP storage market size was valued at US$ 5.9 billion in 2022.
• The market is projected to reach US$ 10.2 billion by 2032, growing at a 5.6% CAGR.
• Temperature-sensitive biologics are the leading application segment, accounting for 38% of the market share in 2021.
• North America dominates the GMP storage market, holding 69% of the total market share in 2021.
• The market for outsource GMP storage services is growing rapidly, driven by demand from biopharmaceutical companies.
• Technological innovations in cold chain storage equipment, such as low-energy biomedical freezers, are driving market expansion.

Market Segmentation

The GMP storage market can be segmented into various categories, including product type, end-users, and regional markets. These segments are critical for understanding the diverse applications and trends within the market.

Product Type: The market is primarily divided into refrigeration and freezing equipment used for maintaining the integrity of temperature-sensitive products. The biomedical refrigerators and freezers segment dominates the market, accounting for a significant share due to the increasing demand for temperature-controlled storage solutions in the pharmaceutical and biotechnology sectors.

End-Users: The demand for GMP storage products and services is largely driven by the biopharmaceutical sector. This sector, which includes companies involved in the development, manufacturing, and distribution of biologics, holds the largest share in the market. Biopharmaceutical companies often outsource GMP storage services to manage their storage needs more effectively, particularly when dealing with high-value or critical temperature-sensitive products.

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Regional Insights

The North American GMP storage market leads in terms of market share, with the United States accounting for more than 89% of the North American market in 2021. The U.S. is witnessing significant demand for GMP storage services due to the FDA's approval of temperature-sensitive drugs, particularly vaccines and biologics. The regulatory environment in the U.S. is robust, ensuring the adoption of the latest technologies and the highest standards in cold chain storage.

In Europe, Germany stands out as the largest market for GMP storage, accounting for around 29.7% of the market share in 2021. The biopharmaceutical industry in Germany continues to expand, driven by the growth of biotechnology companies and significant investments in research and development. This expansion has increased the need for high-quality GMP storage solutions to ensure product integrity.

China, with its rapidly growing biotechnology sector and government investment in biopharmaceutical research, has become an emerging market for GMP storage. The Chinese government has been investing heavily in biotech research and infrastructure, making East Asia a key region for GMP storage services.

Market Drivers

Several factors are driving the growth of the GMP storage market:

Surge in Biopharmaceutical Production: The increasing production of biologics, such as vaccines, gene therapies, and monoclonal antibodies, requires stringent temperature control, thus boosting demand for GMP storage.

Regulatory Compliance: Stringent regulations around the storage and transportation of pharmaceutical products are forcing companies to adopt GMP-compliant storage solutions. Regulatory bodies, including the FDA, have raised the standards for storage conditions, particularly for temperature-sensitive drugs.

Technological Advancements: Innovations in cold chain technologies, such as low-energy biomedical refrigerators and controlled-rate freezers, are contributing to the market's growth by providing more efficient and cost-effective storage solutions.

Outsourcing Storage Services: Many pharmaceutical companies are outsourcing GMP storage services to manage costs and scalability. This trend is particularly beneficial for smaller companies that may not have the resources to build and maintain in-house GMP storage facilities.

Market Restraints

Despite the growth prospects, the GMP storage market faces several challenges:

High Capital Investment: The establishment of GMP-compliant storage facilities involves substantial capital expenditure. This includes investments in refrigeration equipment, security systems, inventory management systems, and backup power solutions.

Energy Costs: Maintaining temperature-controlled storage facilities requires significant energy consumption. In regions where electricity costs are high, this can make GMP storage operations expensive for providers and manufacturers.

Complex Regulatory Compliance: Adhering to ever-evolving regulatory requirements across multiple jurisdictions can be challenging for companies operating globally. The complexity of maintaining compliance with various local and international standards can create barriers to entry for new players in the market.

Market Opportunities

The GMP storage market also presents several opportunities:

Expansion of Biotech Industry: With governments investing heavily in biotechnology and life sciences, particularly in countries like China and the U.S., the demand for GMP storage services is set to increase.

Emerging Markets: Developing countries are showing an increased demand for cold chain solutions, driven by the rising healthcare needs of their populations. This presents significant opportunities for GMP storage providers to expand into new regions.

Technological Innovation: The introduction of more energy-efficient, cost-effective, and reliable storage equipment presents opportunities for companies to differentiate themselves and expand their market share.

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Reasons to Buy the Report

• Gain a comprehensive understanding of the GMP storage market and its dynamics.
• Identify key growth drivers and market challenges to make informed business decisions.
• Stay ahead of technological trends and innovations shaping the market.
• Understand the competitive landscape and strategies of key players.
• Leverage regional insights to tap into high-growth markets.

Frequently Asked Questions (FAQs)

• How big is the GMP storage market?
• Who are the key players in the global GMP storage market?
• What is the projected growth rate of the GMP storage market?
• What is the market forecast for the GMP storage market by 2032?
• Which region is estimated to dominate the GMP storage market through the forecast period?

Company Insights

Key players in the GMP storage market include:

• ThermoGenesis Holdings, Inc.
• ThermoFisher Scientific Inc.
• BioLife Solutions, Inc.
• Danaher (Cytiva)
• MEDIPOST
• REMI GROUP
• Eurofins Scientific
• Eppendorf
• Intertek Group Plc
• Arctiko
• Bioline Technologies
• Hindustan Apparatus Mfg. Co.
• SY-LAB Geräte GmbH
• BioConvergence LLC
• PHC Holdings Corporation

Recent Developments:

BioLife Solutions, Inc. acquired Global Cooling, Inc. in May 2021, expanding its portfolio of temperature-controlled storage solutions.

BioLife Solutions, Inc. launched a new high-capacity controlled-rate freezer line in April 2021, marking a significant step in improving cold chain storage for biologics.

The GMP storage market is poised for significant growth over the next decade, driven by increasing demand for biologics, technological advancements, and the rising trend of outsourcing storage services. The strategic actions of leading players and regional trends will continue to shape the market landscape as new opportunities and challenges emerge.

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