Pharmaceutical Quality Control Market Research Report Analysis 2022 – 2032 by Share, Trends, Growth, Industry Analysis
pharmaceutical quality control market is expected to witness substantial growth in the coming years
VANCOUVER, BRITISH COLUMBIA, CANADA, July 8, 2024 /EINPresswire.com/ -- The global pharmaceutical quality control market is expected to witness substantial growth in the coming years, fueled by a confluence of factors. This press release by Emergen Research delves into the key trends, drivers, and restraints shaping the market landscape, offering valuable insights for industry stakeholders.
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Market Overview and Trends
The pharmaceutical quality control market plays a critical role in ensuring the safety, efficacy, and purity of drugs. The market size was valued at USD 2.28 billion in 2022 Emergen Research and is projected to reach USD 6.21 billion by 2032, exhibiting a robust CAGR of 10.6% Emergen Research. This growth can be attributed to several key trends:
Increasing Stringency of Regulations: Regulatory bodies worldwide are implementing stricter quality control measures to safeguard public health. This necessitates robust quality control processes for pharmaceutical companies.
Rising Demand for Generic Drugs: The burgeoning demand for cost-effective generic drugs necessitates stringent quality control practices to ensure bioequivalence and regulatory compliance.
Technological Advancements: Advancements in analytical instrumentation, such as chromatography and mass spectrometry, are enabling more efficient and accurate quality control testing.
Growing Focus on Biologics: The increasing development and adoption of complex biologics require specialized quality control procedures, propelling market growth.
Drivers and Restraints
The market benefits from several growth drivers:
Growing prevalence of chronic diseases
Rising healthcare expenditure
Expanding pharmaceutical industry in emerging economies
However, certain factors may impede market growth:
High costs associated with implementing and maintaining quality control systems
Stringent regulatory requirements can pose operational challenges
Skilled labor shortage in quality control departments
Growth Opportunities
Several promising avenues exist for market expansion:
Development of automated and integrated quality control solutions
Growing adoption of contract research organizations (CROs) for quality control services
Increasing demand for outsourced quality control testing in developing regions
Key Market Insights
The market is segmented by product (instruments, consumables, services), technology (chromatography, spectroscopy, mass spectrometry), and application (drug discovery, preclinical development, clinical trials, commercial manufacturing).
Instruments hold the dominant market share due to the expanding generic drug market.
North America is the leading regional market, followed by Europe and Asia Pacific.
SWOT Analysis
Strengths:
Growing demand for safe and efficacious drugs
Technological advancements in quality control processes
Increasing focus on patient safety
Weaknesses:
High costs associated with quality control systems
Stringent regulations can be complex to navigate
Limited availability of skilled labor
Opportunities:
Development of innovative quality control solutions
Growing adoption of outsourcing for quality control services
Expansion into emerging markets
Threats:
Counterfeiting of drugs
Fluctuations in raw material prices
Stringent regulatory changes
Latest Strategic Developments, Mergers, and Acquisitions
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.
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.
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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 Market Segment 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
Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
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Distribution channels: Healthcare & Pharmaceuticals Industry
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