The global Pharmaceutical Quality Control market size was estimated at USD 4.2 billion in 2022 and is projected to reach USD 9.64 billion in 2030 at a CAGR of 11.2% during the forecast period 2023-2030.
Pharmaceutical quality control is the integration of all processes to ensure the identity and purity of a particular pharmaceutical product. The global pharmaceutical quality control market is growing rapidly due to the growing awareness of pharmaceutical quality control. Increasing development of comprehensive analytical tests is driving the growth of the market. Demand for integrated analytical services covering all stages of drug research, development and manufacturing also continues to drive the market growth. In addition, the growing demand for pharmaceutical quality control due to the global outbreak of the novel coronavirus disease (COVID-19) presents an opportunity for the market. Technical issues are the major factors restraining the growth of the pharmaceutical quality control market. However, complex and time-consuming regulatory guidelines pose challenges to the growth of the pharmaceutical quality control market.
Another important reason behind the growth of the pharmaceutical quality control market is the increasing technological innovations and advancements offered by the various currently-established market players. They focus on constantly updating technology to improve the quality of care for different patients Pharmaceutical companies are strictly regulated because the health and well-being of consumers is directly affected by drugs, medical devices and other pharmaceutical products. To sell their products, manufacturers must meet several quality criteria. Small and medium pharmaceutical companies are focusing on complying with the law to produce better products and stay competitive in the market due to the rapid expansion of the pharmaceutical industry. The Food and Drug Administration (FDA) regulates the US market, where the majority of companies operating in developing countries like China and India ship their goods. FDA also inspects the facilities and operations of all pharmaceutical manufacturing operations in the United States. such as the overseas operations of companies that regularly sell their products in the United States.
Therefore, these facilities and their processes must comply with current FDA Good Manufacturing Practices (cGMP). To manufacture and market their products, companies must also comply with the International Organization for Standardization (ISO), 21 CFR Part 211, and the ICH Q10 guidelines. Manufacturers are eager to adopt quality management systems due to the increasing importance of regulatory requirements and market expansion. Coronavirus disease has had a significant impact on the growth of the Pharmaceutical Quality Control market. The epidemic has increased the demand for safe and sterile items. Therefore, pharmaceutical companies are now focusing more on the production of high quality products. In addition, significant player growth and investment has driven the Pharmaceutical Quality Control market value.
The pharmaceutical quality control market is a growing number of accredited clinical laboratories, an increasing acceptance of third-party quality control, and an increasing preference for support outside in the quality assessment. The number of laboratory tests performed has increased due to the increasing prevalence of various diseases around the world. Both the public and private sectors are increasing the number of laboratories to meet this requirement. Clinical laboratories must be accredited by regulatory bodies such as the International Organization for Standardization and other equivalent standards to perform diagnostic tests in the majority of countries. Competent authorities evaluate the laboratory's capacity and quality system against predetermined standards during the accreditation process, thereby generating revenue from the pharmaceutical quality control market.
North America to Dominate the Market