GMP Testing Service Market: Global Industry Analysis and Forecast 2023 – 2030
Global GMP Testing Service Market was valued at USD 1.17 Billion in 2021 and is expected to reach USD 1.88 Billion by the year 2028, at a CAGR of 6.97% .
The growth of the GMP testing service market is majorly attributed to the rapidly growing pharmaceutical industry and the increasing trend in drug and device development. The growing burden of chronic diseases, the rising healthcare expenditure, and the upcoming patent expiration of blockbuster drugs are driving the trend of increasing drug and device development by biopharmaceutical companies, which, in turn, is expected to boost the growth of the market studied. Additionally, the increasing research and development activities by the drug manufacturers for the launch of innovative drugs with advanced features and strategic alliances are expected to drive the growth of the market studied. For instance, in March 2020, Existencia, an AI-based drug discovery company, entered a collaborative agreement with Diamond Light Source and Scripps Research for identifying COVID-19 antiviral therapies.
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Global GMP Testing Service Market was valued at USD 1.17 Billion in 2021 and is expected to reach USD 1.88 Billion by the year 2028, at a CAGR of 6.97% .
The growth of the GMP testing service market is majorly attributed to the rapidly growing pharmaceutical industry and the increasing trend in drug and device development. The growing burden of chronic diseases, the rising healthcare expenditure, and the upcoming patent expiration of blockbuster drugs are driving the trend of increasing drug and device development by biopharmaceutical companies, which, in turn, is expected to boost the growth of the market studied. Additionally, the increasing research and development activities by the drug manufacturers for the launch of innovative drugs with advanced features and strategic alliances are expected to drive the growth of the market studied. For instance, in March 2020, Existencia, an AI-based drug discovery company, entered a collaborative agreement with Diamond Light Source and Scripps Research for identifying COVID-19 antiviral therapies.
Get Full PDF Sample Copy of Report: (Including Full TOC, List of Tables & Figures, Chart) @
https://introspectivemarke...
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