Life Sciences Validation, Calibration Market to See 6.7% Annual Growth Through 2023

Strong Demand from the Pharma and Biotech Markets Boosting Industry Expansion

May 02, 2019

WELLESLEY, Mass., May 02, 2019–Strong demand from the pharma and biotech markets and the rise in software for calibration management are factors helping to drive growth of validation, calibration and standardization for the life sciences industry, according to a report by BCC Research, “Validation, Calibration and Standardization in the Life Sciences Market.”

The market expects a compound annual growth rate (CAGR) of 6.7% through 2023, when it could be worth $2.1 billion.

Major players in the market include Thermo Fisher Scientific (TMO), Data Science International, Merck (MRK), Evolution Scientific and Beckman Coulter.

Research Highlights

• End-user growth will be strongest among pharmaceutical and biotechnology companies, which expect a CAGR through 2023 of 7.1%, followed by contract research organizations at 6.8% and research laboratories at 6.4%.
• North America leads the market by size, with a 2018 value of $606.2 million, followed by the Asia-Pacific region at $393.2 million and Europe at 358.9 million.
• Consumables lead the market by growth, with a CAGR through 2023 of 6.5%, followed by instruments at 6.3%.

“The rising adoption of software for calibration management is also driving the utilization of services by pharmaceutical and biotechnology companies and other research organizations that reduce the overall time and cost of validation and calibration processes,” notes report author Sathya Durga. “Software usage ensures that the calibration performed at multiple places remains the same and on time. This helps companies maintain accuracy and quality and reduce errors.”

Strong Growth Coming from the Pharma and Biotech Market

The market is being driven in particular by surging demand from the pharma and biotech sectors. These fields need precisely-calibrated equipment to ensure product quality and accurate process measurements, which further emphasizes the need for instrument validation, both to ensure internal standards and to meet stringent regulations. Regulations pertaining to calibration, validation and standardization will create a broad pool of opportunities for the adoption of calibration services.

Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.

Validation, Calibration and Standardization in the Life Sciences Market( BIO179A )
Publish Date: Apr 2019    

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.