PUBLISHER: Grand View Research | PRODUCT CODE: 1553690
PUBLISHER: Grand View Research | PRODUCT CODE: 1553690
The global pharmaceutical impurity synthesis and isolation services market size is expected to reach USD 1.94 billion by 2030, growing at a CAGR of 8.03% during the forecast period, according to a new report by Grand View Research, Inc.
Pharmaceutical impurity testing, quantification, and analytical control strategies are important in optimizing safety, purity, and quality control for finished drug products and drug substances. Pharmaceutical impurities can arise from several sources and include reagents, starting materials and their contaminants, catalysts, intermediates, solvents, excipients and their contaminants, and degradation products.
The growing complexity of pharmaceutical formulations is also contributing to market growth. With the increasing development of biologics, complex generics, and novel drug delivery systems, the nature of impurities has become more diverse and challenging to identify. This complexity necessitates advanced analytical techniques and expert services for accurate impurity profiling. Companies seek specialized services to handle these requirements, driving demand for impurity synthesis and isolation services. Thus, the aforementioned factors contribute to market growth.
Moreover, continuous technological advancements in analytical techniques further driving the demand for impurity synthesis and isolation services. The development of more sophisticated methods, such as high-resolution mass spectrometry and advanced chromatographic techniques, enables more precise detection and characterization of impurities. Service providers that adopt and integrate these cutting-edge technologies would easily meet the growing needs of the pharmaceutical industry, further driving growth in the market.
Growing collaboration and outsourcing trends in the pharmaceutical industry play a significant role in the market dynamics. Pharmaceutical companies are increasingly outsourcing impurity synthesis and isolation to specialized service providers to focus on their core competencies and reduce operational costs. This outsourcing trend creates opportunities for service providers to expand their offerings and cater to global clients. Thus, the aforementioned factors are driving the growth of the market.