GMP Storage Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

GMP Storage Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Leading Manufacturers Paving the Way with Technological Advancements

The global Good Manufacturing Practice (GMP) storage market is poised for substantial growth in the coming years, as revealed by a comprehensive market analysis conducted by Fairfield Market Research. At the close of 2023, the market boasted a worldwide revenue of approximately US$ 6 billion, and it is projected to surge at a remarkable Compound Annual Growth Rate (CAGR) of 8%, aiming for a market valuation of US$ 10 billion by the end of 2031.

GMP Storage Products Set to Reach US$ 8 Billion by 2031

GMP storage products are expected to contribute significantly to this surge, with an estimated market value of US$ 8 billion by the end of 2031. This growth underscores the crucial role of GMP storage in the global cold chain market, which was valued at approximately US$ 119.98 billion in 2021.

Accelerated Growth Driven by Vaccine Manufacturing

The recent emphasis on vaccine manufacturing has fueled the expansion of large molecule biological products that necessitate refrigerated or frozen storage. Temperature-controlled GMP storage facilities, though costly to establish and maintain, are integral to ensuring the integrity of these products.

Outsourcing temperature-controlled GMP storage offers an efficient solution for both smaller pharmaceutical companies and large pharmaceutical giants, enabling them to meet the stringent requirements of different markets and regulatory authorities. The result is enhanced scalability and consistency in the global pharmaceutical industry.

Technological Advancements Transforming the Cold Chain Sector

Technological advancements are revolutionizing the cold chain sector, with companies like ThermoFisher Scientific, Eppendorf AG, BioLife Solutions, Inc., and ThermoGenesis Holdings, Inc. leading the way. These innovations are not only energy-efficient but also enhance temperature control, benefiting the GMP storage market.

For instance, BioLife Solutions, Inc. introduced high-capacity controlled-rate freezers in April 2021, catering to the growing demand for cold chain storage in the development of allogeneic cell therapies. Similarly, SY-Lab's IceCube® controlled rate freezers, certified as medical devices, provide improved user interfaces, further elevating the industry standard.

Challenges and Cost Pressures in GMP Storage

While the GMP storage market promises substantial growth, manufacturers face challenges related to cost-effectiveness. Meeting specific storage conditions and compliance standards demands substantial capital investment, and the energy consumption of large facilities can be expensive. The implementation of advanced technologies for real-time monitoring and cloud-based solutions also adds to operational costs.

Regional Insights
• Booming U.S. GMP Storage Market: The U.S. market dominates North America, accounting for over 89% of the region's GMP storage market in 2023. FDA approvals for cold storage drugs, including COVID-19 vaccines, are driving demand in the United States.
• Lucrative Market in Germany: Germany, as the EU's second-largest manufacturer of active biopharmaceutical products, is witnessing increased demand for GMP storage services due to the growth of its biotechnology industry and the need for secure and compliant supply chains.
• China's Prominence in GMP Storage: China's government investments in biotech and development sectors have made it a prominent market for GMP storage services. The expansion of biotech science parks and research centers has resulted in a high demand for GMP storage solutions.

Competitive Analysis

Leading manufacturers such as,
• ThermoGenesis Holdings, Inc.
• ThermoFisher Scientific Inc.
• BioLife Solutions, Inc.
• Danaher(Cytiva)
• MEDIPOST
• REMI GROUP
• Eurofins Scientific
• Eppendorf
• Intertek Group Plc
• Arctiko
• Bioline Technologies
• Hindustan Apparatus Mfg. Co.
• P L Tandon & Co.
• Stericox India Private Limited
• SY-LAB Geräte GmbH
• BioConvergence LLC d/b/a Singota Solutions
• PHC Holdings Corporation
• Pace Life Sciences
• Haier Biomedical
• Helmer Scientific Inc.

These companies are driving growth through technological advancements and strategic consolidations, including mergers and acquisitions.

Key Segments Covered in GMP Storage Industry Research

GMP Storage Market by Product & Service:
• GMP Storage Products
Refrigerators and Freezers
Cryogenic Storage
• GMP Storage Services

GMP Storage Market by Application:
• Cell & Gene Therapy
• Cell Banking
• Biologics
• Small Molecules
• Others

GMP Storage Market by End User:
• Biopharmaceutical Companies
• Contract Manufacturing Organizations
• Contract Research Organizations
• Research & Academic Institutes

GMP Storage Market by Region:
• North America GMP Storage Market
• Latin America GMP Storage Market
• Europe GMP Storage Market
• South Asia GMP Storage Market
• East Asia GMP Storage Market
• Oceania GMP Storage Market
• The Middle East & Africa GMP Storage Market

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