Good Manufacturing Practice (GMP) storage refers to the storage of pharmaceuticals, biologics, and medical devices in compliance with strict regulatory guidelines. GMP storage facilities ensure that products are stored under appropriate conditions to maintain their stability, potency, and efficacy. The GMP storage market has experienced significant growth in recent years due to the increasing demand for safe and effective storage solutions for pharmaceuticals and the growing need for compliance with regulatory guidelines.
Worldwide revenue from the GMP storage market was around US$ 5.7 Bn at the end of 2021, with the global market estimated to move ahead at a value CAGR of 5.6% to reach a market valuation of US$ 10.2 Bn by the end of 2032.
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The GMP storage market is expected to grow at a significant rate during the forecast period due to the increasing adoption of GMP storage solutions in the pharmaceutical, biotech, and medical device industries. The market is driven by factors such as the increasing demand for safe and secure storage of drugs, vaccines, and medical devices, the growing adoption of automation in the storage process, and the increasing focus on quality and compliance.
The GMP storage market can be segmented into product types, applications, and regions. Based on product types, the market can be segmented into refrigerators, freezers, and others. Refrigerators are expected to dominate the market due to their wide range of applications and increasing adoption in the pharmaceutical and biotech industries.
Companies
- Abbott
- Boston Scientific
- Biosense Webster (Johnson&Johnson)
- MEDTRONIC PLC
- CathRx Ltd
- Biotronik SE & Co. KG.
- Japan Lifeline Co
- ATRICURE,
- Auris Health
- Biomerics
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Based on applications, the market can be segmented into pharmaceuticals, biotech, and medical devices. Pharmaceuticals are expected to dominate the market due to the increasing demand for safe and secure storage of drugs.
Geographically, the GMP storage market can be segmented into North America, Europe, Asia Pacific, and Rest of the World. North America is expected to dominate the market due to the presence of major players and the increasing adoption of GMP storage solutions in the pharmaceutical and biotech industries. Asia Pacific is also expected to grow at a significant rate due to the increasing focus on quality and compliance in the pharmaceutical and biotech industries.
The key players operating in the GMP storage market include Thermo Fisher Scientific, Eppendorf AG, Panasonic Healthcare, VWR International, and Panasonic Biomedical Sales Europe. These players are focusing on strategies such as product launches, collaborations, and partnerships to increase their market share.
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Key Segments Covered in GMP Storage Industry Research
GMP Storage Market by Product & Service:
- GMP Storage Products
- Refrigerators and Freezers
- Cryogenic Storage
- GMP Storage Services
GMP Storage Market by Application:
- Cell & Gene Therapy
- Cell Banking
- Biologics
- Small Molecules
- Others
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