Product Validation Testing Service to Register Fastest CAGR in GMP Testing Service Market During 2022-2028

According to our latest study on "GMP Testing Service Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Service Type and End User," the market is projected to reach US$ 2,863.42 million by 2028 from US$ 1,830.57 million in 2021; it is expected to grow at a CAGR of 6.7% from 2022 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.

The COVID-19 pandemic positively impacted the overall GMP testing service market, as the accelerated development of various vaccines led to the increased need for GMP testing services for product validation; biosafety testing; and PCR, DNA sequencing, electron microscopy, and cell culture assays development. GMP testing services are adopted to ensure the high quality, effectiveness, and safety of products developed and launched through fast-track processes. The Wisconsin Economic Development Corporation (WEDC) stated the increased need for medical devices and supplies to treat patients and protect healthcare workers.

Based on service type, the GMP testing service market is segmented into product validation testing, bioanalytical services, packaging & shelf-life testing, and other services type. The product validation testing segment held the largest share of the market in 2021, and this segment is anticipated to register the highest CAGR in the market during the forecast period. Based on end user, the GMP testing service market is bifurcated into pharmaceutical & biopharmaceutical companies and medical device companies. The pharmaceutical and biopharmaceutical companies segment held a larger share of the market in 2021, and it is also anticipated to register a higher CAGR in the market during the forecast period.

GMPs are enormously important in the manufacturing of medical devices because they ensure a level of quality, safety, purity, and strength in any products that are released to the public. Adhering to these practices helps manufacturers in preventing adverse effects, product recalls, and defects, which may lead to costly liability lawsuits in the future. As quality control and consistent testing environments are pivotal for a successful manufacturing cycle, the focus on GMPs is increasing for avoiding product contamination, failure, and quality deviation. Furthermore, by establishing a strong system of well-regulated operational management led by GMPs, a medical device manufacturer can develop vast volumes of quality products, along with reducing costly delays. Thus, the flourishment of the medical device industry contributes to the growth of the GMP testing service market.

Eurofins Scientific; Almac Group; Intertek Group Plc; WuXi AppTec; Sartorius AG; North American Science Associates, Inc.; Nelson Laboratories LLC; Boston Analytical; Pace Analytical Services; and Thermo Fisher Scientific Inc. (PPD Inc.) are among the leading companies operating in the GMP testing service market.

In terms of geography, the GMP testing service market has been segmented as follows:

Based on geography, the GMP testing service market is primarily segmented into North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico. The European market is subsegmented into France, Germany, the UK, Spain, Italy, and the Rest of Europe. The GMP testing service market in APAC is segmented into Japan, China, India, Australia, South Korea, and the Rest of APAC. The GMP testing service market in the MEA is further segmented into Saudi Arabia, the UAE, South Africa, and the Rest of the MEA. the market in South & Central America is further segmented into Brazil, Argentina, and the Rest of South & Central America.

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