Pharmaceutical Stability And Storage Services Market Size, Share & Trends Analysis Report By Service (Stability, Storage), By Molecule (Large Molecule, Small Molecule), By Region, And Segment Forecasts, 2024 - 2030

Pharmaceutical Stability And Storage Services Market Size, Share & Trends Analysis Report By Service (Stability, Storage), By Molecule (Large Molecule, Small Molecule), By Region, And Segment Forecasts, 2024 - 2030

Pharmaceutical Stability And Storage Services Market Growth & Trends

The global pharmaceutical stability and storage services market size is anticipated to reach USD 2.80 billion by 2030, registering to grow at a CAGR of 6.47% from 2024 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.

Pharmaceutical Stability And Storage Services Market Report Highlights

• Stability testing services dominated the market with a share of 73.5% in 2023. The growth of the segment is mainly due to its important role in regulatory compliance, product safety, and efficacy.
• The small molecule segment dominated the market in 2023. There have been significant advancements in small molecule drug development. Small molecules account for around 90% of all pharmaceutical drugs and are used to treat a range of conditions, including fever, migraines, cancer, diabetes, and other prevalent diseases.
• North America pharmaceutical stability and storage service market dominated the global industry and accounted for a 40% share in 2023. The growth in the region is attributed to the presence of several pharmaceutical and biotech companies in the region, coupled with increasing research and development activities are driving the region's market growth.
• The pharmaceutical stability and storage services market in Asia Pacific is expected to grow at the highest CAGR over the forecast period. Asia Pacific is becoming a major center for clinical trials due to its large and diverse patient population and favorable regulatory environments.

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