Extractable and Leachable Testing Services Market – By Product Type (Container Closure Systems, Single-use Systems, Drug Delivery Systems), Application (Parenteral Drug Products, Orally Inhaled & Nasal Drug Products) – Global Forecast 2024 – 2032
Report ID: GMI8466
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Published Date: March 2024
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Report Format: PDF
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Base Year: 2023
Companies covered: 10
Tables & Figures: 154
Countries covered: 22
Pages: 120
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Extractable and Leachable Testing Services Market
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Extractable and Leachable Testing Services Market Size
Extractable And Leachable Testing Services Market size was valued at around USD 866.2 million in 2023 and is anticipated to register a CAGR of over 13.6% between 2024 and 2032. Extractable and leachable testing services are vital analytical procedures across industries such as pharmaceuticals, food packaging, cosmetics, and medical devices, ensuring the safety and compliance of products.
With increased recognition and investment, these services have seen advancements in methodologies, equipment, and expertise, benefiting pharmaceuticals, vaccines, and medical device testing services sectors. This progress has enabled accelerated research and development efforts, fostered the delivery of innovative drugs, vaccines, and medical devices while upheld rigorous safety and compliance standards. For instance, according to the World Health Organization (WHO) in 2021 reported a significant surge in vaccine distribution, with approximately 16 billion doses supplied globally, valued at USD 141 billion.
This marks a substantial increase compared to the market volume in 2019, which stood at USD 5.8 billion doses. Therefore, there is a rising need for innovative approaches and advancements in extractable and leachable testing services to ensure the safety, quality, and regulatory compliance of the increasing volume of vaccines being produced and distributed worldwide.Furthermore, growing pharmaceutical and biotechnology industry, which estimated to reach 952 billion by 2027, widespread adoption of single-use technology, among other contributing factors propelling the growth of the market.
Extractable and Leachable Testing Services Market Trends
The growth of the pharmaceutical and biotechnology industry offers significant benefits for extractable and leachable testing services. With a growing emphasis on ensuring product safety, effectiveness, and regulatory compliance, there is an increased demand for these services.
Extractable and Leachable Testing Services Market Analysis
Based on product type, the market is segmented into container closure systems, single-use systems, drug delivery systems, and other product types. The container closure systems segment is estimated to account for USD 868.5 million by 2032.
Based on application, the extractable and leachable testing services market is bifurcated into parenteral drug products, orally inhaled and nasal drug products (OINDPs), and ophthalmic drug products. The orally inhaled and nasal drug products (OINDPs) segment accounted for USD 374.8 million in 2023.
North America extractable and leachable testing services market accounted for USD 351 million revenue in 2023 and is predicted to witness substantial market expansion.
Extractable and Leachable Testing Services Market Share
The extractable and leachable testing services industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced devices based on different technologies is among a key market strategy. Some of the leading industry players have a notable presence in the market.
Extractable and Leachable Testing Services Market Companies
Some of the eminent market participants operating in the extractable and leachable testing services industry include:
Extractable and Leachable Testing Services Industry News:
The extractable and leachable testing services market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 – 2032 for the following segments:
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Market, By Product Type
Market, By Application
The above information is provided for the following regions and countries: