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.
“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.
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Validation, Calibration and Standardization in the Life Sciences Market( BIO179A )
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