The
global Pharmaceutical
Stability & Storage Services Market size is expected to reach USD 4.4
billion by 2030, registering a CAGR of 5.6% from 2022 to 2030, according to a
new report by Grand View Research, Inc. Stability and storage is a mandatory
regulation in various regions. For instance, different regulatory authorities
have different data requirements and testing rules for testing stability. Even
though FDA and EMA follow the ICH guidelines for stability testing, they still
have different microbiological limits for stability tests. This has improved
the demand for stability testing outsourcing services and is likely to have a
positive impact on the market.
The
COVID-19 pandemic had increased the demand for COVID-19 vaccines globally. The
growing vaccine drive by the government authorities is likely to drive the
demand for stability and storage of commercial COVID-19 vaccines. In recent
years pharmaceutical R&D spending has improved significantly. The growing
R&D spending is expected to improve the number of drugs in the clinical
stage. Stability testing is required for the approval of each phase of a
clinical trial. This is further driving the market growth. Moreover, Biosimilar
drugs are highly similar copies of biologics and are very cheaper, as compared
to biologics.
Biosimilar
drugs are widely used in cancer, autoimmune diseases, and other diseases. This
is contributing to the demand for biosimilar drugs and thereby is expected to
drive the market demand. There has been a rise in several diseases
post-COVID-19. For instance, according to a report published by Children’s
National Hospital- pediatric research and clinical innovations center, a study
was performed on 737 youths who were diagnosed with diabetes, and it found an
increased incidence of pediatric Type 1 Diabetes (T1D) by 15.2% and Type 2
Diabetes (T2D) increased by 182% between March 11, 2018, and March 10, 2021.
The rise in the disease incidence is expected to improve, drug production,
which is likely to drive the market demand.
Related Press
Release@ Pharmaceutical
Stability & Storage Services Market Report
List of key players of Pharmaceutical Stability and
Storage Services Market
- Catalent
Inc.
- Almac Group
- Charles
River Laboratories International, Inc.
- Eurofins
Scientific SE
- Intertek
Group plc
- Lucideon
Limited
- Alcami
Corporation
- Element
Materials Technology
- BioLife
Solutions
- Q1
Scientific
- Masy
BioServices
- Reading
Scientific Services Ltd.
- Roylance
Stability Storage Limited
- ALS Ltd.'s
- Q
Laboratories
- Auriga
Research Private Limited
- PD Partners
- Precision
Stability Storage
Pharmaceutical Stability & Storage Services Market
Report Highlights
- The
stability segment has accounted for the largest revenue share of 72.8% in
2021 as it is a mandatory requirement of the regulatory authority.
Stability testing is required for the approval of drugs in all stages of
clinical studies this further contributes to its demand in the market
- The large
molecule segment is expected to rise with the fastest CAGR of 6.6% during
the forecast period. This can be attributed to the fact that large
molecules are widely used in the treatment of cancer and infectious
diseases. The ongoing COVID-19 pandemic has further improved the demand
for large molecules like vaccines to curb the spread of COVID-19 globally
- Based on the
mode the outsourcing segment is likely to grow with the fastest CAGR of
6.2% over the forecast owing to the complexities associated with stability
testing
- North
America has held the largest share in 2021 due to the presence of a
significant number of stability storage service providers in the region
Related Reports@
Medical Transport Boxes Market
Pharmaceutical Packaging Market
Pharmaceutical Stability &
Storage Services Market Report Scope
|
Report Attribute |
Details |
|
Market Size value in 2022 |
USD 2.8 billion |
|
Revenue forecast in 2030 |
USD 4.4 billion |
|
Growth Rate |
CAGR 5.6% from 2022 to 2030 |
|
Base year for estimation |
2021 |
|
Historical data |
2018 - 2020 |
|
Forecast period |
2022 - 2030 |
Pharmaceutical Stability & Storage Services Market Segmentation
Services Outlook (Revenue, USD Million, 2018 - 2030)
- Stability
- Drug
Substance
- Stability
Indicating Method Validation
- Accelerated
Stability Testing
- Photostability
Testing
- Other
Stability Testing Methods
- Storage
- Cold
- Non-cold
Molecule Outlook (Revenue, USD Million, 2018 - 2030)
- Small
Molecule
- Research
Products
- Commercial
Products
- Large
Molecule
- Research
Products
- Commercial
Products
Mode Outlook (Revenue, USD Million, 2018 - 2030)
- In-house
- Outsourcing
Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Latin
America
- Brazil
- Mexico
- Argentina
- Middle East
& Africa
- South
Africa
- Saudi
Arabia
About Us:
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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