NEW YORK, Jan. 23, 2017 /PRNewswire/ -- Consolidated Stability Storage is Leading to CROs Evolving into Development Partners and Driving the Stability Testing Outsourcing Market
This research service on the global pharmaceutical stability testing market addresses market sizing, emerging trends, and technologies, and provides a snapshot of the key participants in the market. The base year is 2015 and forecasts are provided from 2016 to 2020.
The market is expected to grow at a CAGR of 9.4% till 2020, driven by an explosion of new approval applications, consolidation, and globalization of both small and large molecule industries. Also, with the continuous growth of biologics, the global pharmaceutical stability testing market is expected to witness robust growth. Biologics stability testing, being more complicated than that of small molecules, is expected to contribute significantly to overall revenue. Biopharmaceutical companies are consolidating stability storage and limiting testing to one facility whereas pharmaceutical companies are moving toward decentralized stability testing, and centralized management and reporting. These companies are opting for single stability storage deals and building strategic relationships with CROs. Also, they are looking for end-to-end services to outsource the entire development project to a single CRO.
Early-stage biotech is identified as the largest growth segment for stability services, and has posted the highest increase during the past few years. For new-generation therapies and new trends in formulations such as non-aqueous and liposomal, many original study strategies apply but new strategies need to be adopted to deal with some of the nuances. Asia-Pacific, especially India and China, is emerging as a big growth opportunity area for this market. Several large CROs are exploring acquisitions here. Many local participants in these markets provide specialized services for global participants. There is also high demand for stability testing for such products in the local markets.
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