PHARMACEUTICAL STABILITY AND STORAGE SERVICES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Pharmaceutical Stability And Storage Services Market, By Service Type (Stability, Storage), By Product Type (Tablets, Capsules, Injectable Solutions, Oral Suspensions, Combination Products, Others), By End User (Biopharmaceutical Companies, CMO, CRO, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Mar 2024
Code : CMI6743
Pages :153
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenges – High costs associated with stability testing and storage services

The high costs associated with stability testing and storage services impose a substantial restraint on the growth of the pharmaceutical stability and storage services market. Conducting stability testing over the long term to confirm the shelf life of drugs and maintain stringent quality standards throughout mandated storage periods requires immense financial investments, thereby, hampering the market development over the forecasted period.

Market Opportunities – Growing demand for outsourcing services

The market witnesses numerous opportunities for growth as pharmaceutical companies increasingly turn to outsourcing partners to offload stability testing responsibilities and ensure regulatory compliance. New development in digital monitoring technologies allow for round-the-clock remote supervision of storage facilities. There is also demand for integrated testing plans that combine accelerated, stress, and real-time studies into comprehensive programs. Partnerships between drug makers and contract service providers have expanded to encompass full lifecycle management.