New York, USA, June 13, 2022 (GLOBE NEWSWIRE) — Pharmaceutical Quality Control Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Pharmaceutical Quality Control Market Information By Product, Analysis Type, Products Tested, Region – Forecast to 2027”, the market is anticipated to expand at a 12.1% CAGR. The market value is expected to expand further to USD 9.69 Billion by the studied forecast period 2020-2027.
Pharmaceutical quality control refers to the obligatory measures needed to ensure the purity and quality of a pharmacy product. It is a critical operation in the pharmaceutical industry. Drugs must be marketed as formulations that are both safe and therapeutically effective, with consistent and predictable performance. There is a rapid increase in the production of new and superior pharmaceuticals. Simultaneously, more precise and sophisticated analytical procedures are being developed for their assessment.
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|Market Size||USD 9.69 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Analysis Type and Products Tested|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||The Outbreak of COVID-19, leading to increased demand for Pharmaceutical Quality Control.|
|Rapid Advancements in Technologies are Driving Change|
Pharmaceutical Quality Control Market Competitive Analysis:
The Pharmaceutical Quality Control Market is a cutthroat one. Various players from throughout the world contribute significantly to market growth. Mergers, partnerships, new ventures, acquisitions, new product launches, collaborations, and other market strategies are used by these significant companies. Some of the key players enhancing the Pharmaceutical Quality Control Market Value are as follows:
- Biomerieux SA
- SGS S.A.
- Charles River Laboratories International Inc.
- Wixi Apptec
- Merck Kgaa
- Thermo Fisher Scientific, Inc.
- Toxikon Corporation
- Sartorius AG
- REMI Group
- Perkin Elmer
- Esco Micro Pte. Ltd.
- Mettler Toledo
- Waters Corporation
- Shimadzu Scientific Instruments
- BRAM-COR SPA
- Lucideon Limited
The market is being driven by factors such as rising need for pharmaceutical quality control. Furthermore, the growing presence of several important companies in the pharmaceutical industry would boost the Pharmaceutical Quality Control Market even further. The development of new medical items and rapid technological breakthroughs are viewed as potential for market expansion. The increased awareness among physicians and patients about the benefits of using pharmaceutical quality control has had a direct impact on the growth of the pharmaceutical quality control market. Substantial quality criteria for clients in the pharmaceutical business, combined with high R&D investments, drive market growth.
Market expansion is being driven by an increase in the development of comprehensive analytical tests. Another significant reason for the growing pharmaceutical quality control market has been the improved innovations and advancements of technologies provided by the various market players currently established, who are focused on constant technological advancements to improve the quality of healthcare being provided to various patients. Demand for comprehensive analytical services encompassing all stages of drug research, development, and manufacturing is further propelling market expansion. Increased need for pharmaceutical quality controls as a result of the global COVID-19 pandemic is also an opportunity for the market.
Various technical challenges in testing and other procedures are shown to have an impact on market growth. A shortage of experienced individuals, a lack of understanding, and a halt in the supply chain can all be big obstacles for the market. Furthermore, complex and time-consuming regulatory procedures impede the growth of the pharmaceutical quality control industry.
The coronavirus disease had a significant impact on the growth of the Pharmaceutical Quality Control market. The outbreak raised the demand for safe and sterile items. As a result, pharmaceutical businesses are now more focused on producing high-quality goods. Furthermore, significant player developments and investments boosted the Pharmaceutical Quality Control Market Value.
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The service sector is expected to develop the fastest over the study period. Aside from that, the instruments category is expected to have the highest pharmaceutical quality and control market share over the assessment year.
By Analysis Type
The largest and fastest-growing segment is sterility testing. Membrane filtration, direct inoculation, and other methods are used in sterility testing. Aerobic count testing, anaerobic count testing, spore count testing, and fungi/ mold count testing comprise the bioburden testing section. Endotoxin testing is classified as in vitro, Limulus amoebocyte lysate, and others.
By Products Tested
Vaccines are the most important sub-segment. There is an urgent need to find critical solutions for quality assurance and vaccine production. Finally, the medicine sub-segment is expected to develop the fastest.
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The Americas are thought to have the biggest market share. The biggest market share can be attributed to widespread awareness of the significance of medical product quality control. Furthermore, the FDA’s rising healthcare and Drug Competition Action Plan promotes market growth in the region. Furthermore, increased demand for pharmaceutical quality control as a result of medication discovery promotes regional market expansion. North America dominates the pharmaceutical quality control industry as medication discoveries continue to drive regional market expansion. Furthermore, the presence of significant key players and well-developed healthcare infrastructure, as well as good reimbursement circumstances in the region, drive market expansion.
Second, Europe is expected to account for the second-largest Pharmaceutical Quality Control Market Share. The considerable stake is mostly due to investments made by prominent players in the pharmaceutical business. Biotechnology advancements and increased R&D spending to develop new test kits provide a substantial tailwind for market expansion.
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Furthermore, Asia-Pacific is expected to increase significantly during the investigated projected period. In 2018, China had USD 200 million in purchasing power. As a result, increased investment in the pharmaceutical industry is expected to enhance market growth. The availability of highly qualified lab personnel, as well as an increase in the number of biotechnology companies, are projected to drive significant growth in the market. Furthermore, ongoing activities to raise awareness and innovations in healthcare support market growth.
African and Middle Eastern development and research are expected to play a significant role in promoting market growth. Furthermore, the company’s supportive legislation and policies will help to develop the market in this region.
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