Asia Pacific GMP Testing Service Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Service Type (Product Validation Testing, Bioanalytical Services, Packaging & Shelf Life Testing, and Other Services Type) and End User (Pharmaceutical a

Asia Pacific GMP Testing Service Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Service Type (Product Validation Testing, Bioanalytical Services, Packaging & Shelf Life Testing, and Other Services Type) and End User (Pharmaceutical and Biopharmaceutical Companies, and Medical Device Companies)

The Asia Pacific GMP testing service market is expected to grow from US$ 339.72 million in 2022 to US$ 515.79 million by 2028; it is estimated to grow at a CAGR of 7.2% from 2022 to 2028.

Continuous Production in Pharmaceuticals Industries Contributes to Market Growth

The research, development, production, and distribution of medicinal drugs and other pharmaceutical products are the major areas of the pharmaceuticals industry. According to an article by Torreya, pharmaceutical expenditure totaled US$ 1,042 billion in 2017, and it is expected to reach US$ 1,671 billion by 2030. A rise in the population of this demographic group is a major reason contributing to the surge in the prevalence of chronic diseases, such as cardiovascular diseases, cancer, hypertension, osteoarthritis, and diabetes mellitus. Thus, these chronic diseases have been a major area of focus for pharmaceutical companies. New drug development is a resource-, cost-, and time-intensive process, wherein later clinical stages result in significant costs. It takes ~10–15 years and costs on average over US$ 1–2 billion to discover a drug and obtain regulatory approval. Several pharmaceutical companies are opting for bioanalytical GMP testing services for drug development and validation of assays at both clinical and preclinical stages. Generic and branded drug compounds are mostly small molecules. Generic manufacturers conduct and submit bioanalytical GMP testing results to overcome the issue of patent expiration. Thus, with the proliferation of the pharmaceuticals industry, the implementation of GMP testing in drug development is fueling the growth of the Asia Pacific GMP testing service market .

Asia Pacific GMP Testing Service Market Overview

Asia Pacific (APAC) is the fastest-growing regional market for GMP testing services. The Asia Pacific GMP testing services market is further segmented into China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific. The projected market growth in China during the forecast period is ascribed to the factors such as an increase in the number of pharmaceutical companies and their R&D activities.

Asia Pacific GMP testing service Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific GMP testing service Market Segmentation

The Asia Pacific GMP testing service market is segmented on the basis of service type, end user, and country. Based on service type, the Asia Pacific 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 market share in 2022.

Based on end user, the Asia Pacific GMP testing service market is bifurcated into pharmaceutical and biopharmaceutical companies and medical device companies. The pharmaceutical and biopharmaceutical companies segment held a larger market share in 2022.

Based on country, the Asia Pacific GMP testing service market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the market share in 2022.

Eurofins Scientific; Almac Group; INTERTEK GROUP PLC; WuXi AppTec; Sartorius AG; North American Science Associates, Inc.; Nelson Laboratories, LLC.; and Thermo Fisher Scientific Inc. (PPD Inc.) are among the leading companies operating in the Asia Pacific GMP testing service market.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific GMP testing service market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific GMP testing service market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific GMP testing service market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution