Biopharmaceuticals Manufacturing Consumables Testing Market to Reach $709.92 Million By 2025

The global Biopharmaceuticals Manufacturing Consumables Testing Market size is expected to reach USD 709.92 million by 2025 at a 12.1% CAGR, according to a new report by Grand View Research, Inc. The market is driven by growing need for in-depth assessment of raw materials for successful and rapid launch of the final product. Rising awareness pertaining to internal standards as well as external regulations in the biopharmaceutical industry is also aiding market growth.

In the past few years, there has been a major paradigm shift from small chemical molecules to large biological molecules. As a result, the biopharmaceutical industry is geared toward exploring every aspect involved in the manufacturing process.

Regulatory and quality expectations for best quality raw materials and intermediates continue to increase. This, in turn, has pressurized vendors engaged in manufacturing of excipients and raw materials to invest in standardizing functionality as well as establishing sophisticated processes to consistently address the needs of final product developers.

Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/biopharmaceuticals-manufacturing-consumables-testing-market

Further key findings from the report suggest:

·         Based on service, compendial and multi-compendial testing held the largest share owing to demand from various manufacturers for raw materials that are compliant to regulatory standards

·         Testing services for Active Pharmaceutical Ingredients (APIs) accounted for the largest revenue share owing to presence of a wide range of services in this segment

·         Presence of a large number of biologics manufacturing entities in U.S. has resulted in North America dominating the global market in 2017. Rising competitive rivalry amongst market participants is also attributive for the large share of this region

·         Asia Pacific is expected to emerge as the fastest growing regional market, fueled primarily by expansion of the contract service industry in several Asian countries. This is partly attributed to low operating costs in these nations

·         Key service providers in the market include Eurofins Scientific; Merck KGaA; Charles River; Agilent Technologies; and Catalent, Inc. These service providers are engaged in contract partnerships with major biopharmaceutical manufacturing companies.

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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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