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Pharmaceutical Quality Management Systems Market to Be Worth $4.59 Billion by 2031 – Exclusive Report by Meticulous Research®

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REDDING, Calif., July 15, 2024 /PRNewswire/ — According to a new market research report titled, ‘Pharmaceutical Quality Management Systems Market Size, Share, Forecast, & Trends Analysis by Solution Type (Deviation, CAPA, Audit, Risk & Compliance, Inspection, Change, Training) Deployment Mode (Cloud, On-premise) End User – Global Forecast to 2031,’ published by Meticulous Research®, the pharmaceutical quality management systems market is projected to reach $4.59 billion by 2031 at a CAGR of 15.6% from 2024 to 2031.

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Pharmaceutical Quality Management Systems (QMS) are sets of procedures and practices that contribute to the quality of pharmaceutical products. Quality management systems facilitate regulatory requirements relevant to industries and companies. ICH Q10 and ISO 9001:2015 are some of the most important quality standards and guidelines for the pharmaceutical industry. Quality Management systems have positively impacted the global pharmaceutical market and brought about significant changes in the pharmaceutical industry.

Rising drug manufacturing costs, stringent regulatory standards for pharmaceutical production, rapid growth of the pharmaceutical industry, and the advantages of software-based quality management systems drive the growth of this market. However, the high costs of deploying pharmaceutical quality management systems restrain the growth of this market.

The increasing demand for generic drugs & biopharmaceuticals and the rising preference for platform-as-a-service solutions among pharmaceutical companies are expected to create market growth opportunities. However, security concerns associated with on-cloud deployments pose a significant challenge to the market’s growth. 

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Increasing Inclination Towards Personalized Medicine is Driving the Demand for Pharmaceutical Quality Management Systems

Advances in proteomic and genomic sciences have boosted the development of personalized therapies. Personalized medicine is an emerging approach in today’s healthcare systems. A wave of personalized medicines has entered mainstream clinical practices, changing the methods for identifying, classifying, and treating diseases. Policymakers are increasingly recognizing personalized medicines, driving innovative approaches to develop and produce personalized therapies. Personalized therapies are designed according to patients’ unique requirements, which makes it difficult to manufacture them, maintain quality control, and guarantee consistency and repeatability. Patient information, such as genetic and clinical data, is crucial to developing personalized treatments. Large data volumes can be difficult to handle and analyze, necessitating powerful data management systems and analytical tools.

As per a report by the Personalized Medicine Coalition, the number of personalized medicines on the market is growing rapidly. In the U.S., the number increased by more than two-fold during 2016–2020. Personalized medicines accounted for 39% of the U.S. FDA’s new drug approvals in 2020, increasing from 5% in 2005. Further, the use of biomarkers in clinical trials increased from 18% in 2000 to 61% in 2019, generating opportunities to produce personalized therapies and driving the demand for pharmaceutical QMS. In June 2020, Infosys Limited (India) launched a platform for personalized medicine based on its SCI platform, SAP S/4HANA, SAP Analytics Cloud solution, and SAP C/4HANA, to address regulatory compliance, patient management, and supply chain issues.

The key players operating in the global pharmaceutical quality management systems market are ANTARES VISION SpA (Italy), AssurX Inc. (U.S.), AXSource Consulting Inc. (U.S.), Körber AG (Germany), ComplianceQuest, Inc. (U.S.), Dassault Systèmes SE (France), EtQ Management Consultants Inc.(U.S.), Honeywell International Inc. (U.S.), Ideagen PLC (U.K.), IQVIA HOLDINGS INC. (U.S), LogicGate Inc. (U.S.), and MasterControl, Inc. (U.S.).

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The global pharmaceutical quality management systems market study presents historical market data in terms of values (2022 and 2023), estimated current data (2024), and forecasts for 2031. The global pharmaceutical quality management systems market is segmented by solution type, deployment mode, and end user. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on solution type, the pharmaceutical quality management systems market is segmented into non-conformance/deviation management, CAPA management, audit management, risk & compliance management, suppliers & materials management, inspection management, document management, change management, training management, and other solution types. In 2024, the non-conformance/deviation management segment is expected to account for the largest share of 18.1% of the pharmaceutical quality management systems market. However, the CAPA management segment is expected to register the highest CAGR during the forecast period. This segment’s growth can be attributed to the increasing demand for Corrective and Preventive Action (CAPA) management in the pharmaceutical industry, driven by the need to ensure product quality, patient safety, and regulatory compliance. CAPA management is essential for addressing issues and preventing their recurrence, further contributing to the overall integrity of pharmaceutical operations.

Based on deployment mode, the pharmaceutical quality management systems market is segmented into cloud/web-based and on-premise. In 2024, the cloud/web-based segment is expected to account for the largest share of 79.4% of the pharmaceutical quality management systems market. The large market share of this segment can be attributed to the advantages offered by cloud/web-based deployments over on-premise deployments, such as cost minimization, easy accessibility, adjustability, and updated cloud systems.

Based on end user, the pharmaceutical quality management systems market is segmented into pharmaceutical and biotechnology companies, contract development and manufacturing organizations/contract research organizations, and research laboratories. The pharmaceutical and biotechnology companies segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to increasing R&D investments by pharmaceutical & biotechnology companies, widespread utilization of quality management systems to ensure product quality, and a growing emphasis on personalized medicine research.

Geographically, in 2024, North America is expected to account for the largest share of 38.4% of the pharmaceutical quality management systems market. North America’s large market share can be attributed to the increasing use of advanced digital tools approved by regulatory authorities in the region’s pharmaceutical sector to improve overall development & manufacturing outcomes and the presence of major market players in the region.

The report also includes an extensive assessment of the key growth strategies adopted by leading market players over the past few years (2021–2024). In the last couple of years, the global pharmaceutical quality management systems market witnessed several strategic developments.

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Scope of the Report:

Pharmaceutical Quality Management Systems Market Assessment—by Solution Type

Non-conformance/Deviation managementDocument ManagementCAPA ManagementRisk & Compliance ManagementInspection ManagementAudit ManagementSuppliers & Materials ManagementTraining ManagementChange ManagementOther Solution Types

(Other solution types include complaint management, out-of-specification, release management, incidents & occurrence management, post-market surveillance, design control, and asset management)

Pharmaceutical Quality Management Systems Market Assessment—by Deployment Mode

Cloud/Web-basedOn-Premise

Pharmaceutical Quality Management Systems Market Assessment—by End User

Pharmaceutical and Biotechnology CompaniesCDMO/CROResearch Laboratories

Pharmaceutical Quality Management Systems Market Assessment—by Geography

North AmericaU.S.CanadaEuropeGermanyFranceU.K.ItalySpainIrelandBelgiumNetherlandsRest of EuropeAsia-PacificChinaJapanIndiaSingaporeMalaysiaPhilippinesVietnamRest of Asia-PacificLatin AmericaBrazilMexicoRest of Latin AmericaMiddle East & Africa

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Pharmaceutical Contract Development & Manufacturing Market by Service {Manufacturing [API, FDF (Parenteral, Injectable, Tablet, Capsule, Oral Liquid)], Drug Development, Biologics Manufacturing}, End User [Large Pharma, Generic] – Global Forecast to 2029

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About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
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California, 96001, U.S.
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Keynode Launches BTC Staking Service as Bitcoin Approaches $100K Milestone

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3 hours ago

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November 16, 2024

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Keynode introduces a new BTC staking service, offering users an opportunity to earn rewards as Bitcoin nears the $100K milestone.

NEW YORK , Nov. 16, 2024 /PRNewswire-PRWeb/ — Keynode, a recognized leader in the crypto staking platform, is excited to introduce its latest BTC staking option, providing a unique opportunity for investors to participate in Bitcoin‘s growth journey. This new staking service aims to enable users to benefit from Bitcoin‘s market potential while contributing to broader adoption as Bitcoin targets the highly anticipated $100K threshold.

As one of the first platforms to offer Bitcoin staking in a straightforward, user-friendly manner, Keynode positions itself as a valuable tool for investors seeking to earn passive income through cryptocurrency. By offering a BTC staking option, Keynode combines the power of Bitcoin‘s market strength with the stability and growth potential of a staking-based approach. This program allows investors to stake their Bitcoin holdings and generate a steady yield, without needing to trade or sell assets.

Accessible Staking with Competitive Rewards

The BTC staking service on Keynode is designed to attract both new and experienced investors interested in diversifying their crypto portfolios. Keynode’s platform features an accessible structure with competitive staking rewards, making it appealing for a wide range of users. With staking periods and potential yield options crafted to meet different financial goals, Keynode ensures that users can tailor their participation according to their preferred level of commitment and growth expectation.

Driving Market Participation with Innovative Solutions

As Bitcoin continues to garner attention from both retail and institutional investors, reaching record highs has become a topic of market speculation. Keynode’s BTC staking program contributes to this momentum by offering secure and user-centric ways to support the Bitcoin ecosystem. As more individuals choose to stake BTC, the overall scarcity and demand for Bitcoin may be influenced, helping support a long-term vision of reaching new price heights.

“BTC staking represents a forward-looking approach in cryptocurrency investments,” said a Keynode spokesperson. “With this service, we are making it simpler for investors to stay invested in Bitcoin while also enjoying staking rewards, which aligns with Bitcoin‘s journey toward greater market adoption and potentially even the much-anticipated $100K mark.”

About Keynode

Keynode is a leader in crypto staking solutions, dedicated to offering accessible and reliable staking options for users across the globe. With a commitment to security and user-friendly features, Keynode continues to innovate in the crypto space, providing services that support investors in reaching their financial goals.

For more information on Keynode’s BTC staking service, visit Keynode.net or contact Keynode at (+1) 678-310-6834 or info@keynode.net.

Media Contact

Kiven Scott, Keynode, (+1) 678-310-6834, info@keynode.net, https://keynode.net/

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SOURCE Keynode

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Sustainable Infrastructure Holding Company (“SISCO”) Q3FY24 revenue (excluding accounting construction revenue) increases by 23.8% to 341.8 million

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5 hours ago

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November 16, 2024

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Revenue grew by 23.8% compared to previous yearGross profit of SAR 179.8 million, a 21.7% increase compared to Q3FY23Adjusted EBITDA rose 29.5% to SAR 210.2 million

JEDDAH, Saudi Arabia, Nov. 16, 2024 /PRNewswire/ — Sustainable Infrastructure Holding Company (“SISCO”, “TADAWUL: 2190”), Saudi Arabia’s leading strategic investor in Ports & Logistics and Water Solutions has announced its financial results for the quarter ended 30 September 2024.

Revenues for the third quarter of 2024, excluding accounting construction revenue, grew by 23.8% compared to Q3FY23 to reach SAR 341.8 million. On a quarter-to-quarter basis, revenues grew by 13.0% compared to Q2FY24.

The third-quarter gross profit of SAR 179.8 million represents 14.7% quarter-on-quarter growth and 21.7% growth compared to Q3FY23. The gross profit margin for Q3FY24 was down 0.9% year-on-year, due to increased depreciation and direct costs, but was up 0.8% quarter-on-quarter, in line with expectations. Year-to-date saw gross profits increase by 13.8% to SAR 469.5 million.

Adjusted EBITDA growth rose 29.5% to SAR 210.2 million compared to Q3FY23, aligning SISCO with strategic goals. Quarter-on-quarter growth was 20.8%, with a year-to-date increase of 17.7% to SAR 543.8 million.

SISCO reports a strong recovery in the Red Sea Gateway Terminal from subdued Q3FY23 Port segment results due to the Red Sea situation. Port volume reached 828,868 TEUs in Q3FY24, returning to levels similar to Q4FY23.

Commenting on the results: Eng. Khalid Suleimani, Group CEO, SISCO said:

“I am pleased to report that SISCO has continued to demonstrate strong growth and operational performance in Q3FY24, with revenues improving by 23.8% compared to Q3FY23. Our Ports segment, which remains a key growth driver, saw a significant increase, leading to robust results despite the Red Sea challenges.

Net income remains strong, despite the one-off payment of SAR 25 million to Zakat. Another highlight of the quarter is the impressive recovery in the Red Sea Gateway Terminal, highlighting it’s resilience.

We are also excited to announce the Multi-Purpose Terminals (MPT) concession, which will allow us to expand operations across all non-containerised port facilities in the Red Sea Gateway Terminal. This strategic initiative positions SISCO to capture further growth opportunities domestically and internationally.

Looking ahead, we remain committed to executing our five-year strategy to double revenues by 2026 and continue delivering long-term value to our shareholders.”

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Carbon Mapper Achieves First Tanager-1 Methane Mitigation Success

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5 hours ago

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November 16, 2024

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BAKU, Azerbaijan, Nov. 16, 2024 /PRNewswire/ — Carbon Mapper released over 300 methane and CO2 plume detections today— its first tranche of emissions data based on observations from the Tanager-1 satellite which was launched in August. Tanager-1 is built and operated by Planet Labs PBC and made possible by the Carbon Mapper Coalition, a philanthropically backed public-private partnership including Planet Labs and NASA’s Jet Propulsion Laboratory among others. This data offers granularity on sources of super-emitters around the world, driving direct actions to cut methane and carbon dioxide as proven by an early mitigation success story.

Tackling methane is a global priority. This mitigation success shows how remote sensing tech can be a game changer.

On Oct. 9, Tanager-1 detected a large plume of methane which Carbon Mapper determined was stemming from a gathering pipeline in the Texas Permian Basin. The team reported the leak to a state agency and the U.S. government, who subsequently notified the facility operator. The operator quickly responded and voluntarily conducted repairs, leading to meaningful emissions reduction. Follow up observations from Tanager-1 detected no plume, confirming the leak was successfully fixed.

Carbon Mapper’s preliminary emissions estimate of this leak is approximately 7,000 kilograms of methane per hour. Each hour it was emitting equaled the same CO2 emissions as driving 47 gas-powered cars for a year.

This first verified methane mitigation action adds to existing evidence that when decision makers are empowered with data on the exact sources of emissions, they can effectively prioritize actions that cut waste and eliminate methane. This mitigation is consistent with pilot airborne surveys Carbon Mapper has conducted in several U.S. states including California and Colorado. Through these pilots, Carbon Mapper has found that nearly half of super-emitting events flagged for state agencies and operators were previously unknown, and once identified, were voluntarily mitigated.

“Tackling methane quickly is a crucial global priority. This early mitigation success story shows that remote sensing technologies with unique capabilities like Tanager-1 can be a gamechanger in driving down emissions in the near-term,” said Carbon Mapper CEO Riley Duren.

To scale these local mitigation successes globally, Carbon Mapper is making new data from Tanager-1 publicly available on its data portal. These include detections of methane and CO2 in 34 countries across the oil and gas, waste, and agriculture sectors. This work is supported by the High Tide Foundation, Grantham Foundation for the Protection of the Environment, Bloomberg Philanthropies, Children’s Investment Fund Foundation, AKO Foundation, and Zegar Family Foundation, among others.

In the coming months, Carbon Mapper will continue to scale up observations and make methane and CO2 data routinely accessible to help decision makers fill gaps in their understanding of the exact sources of emissions and empower mitigation action at the source. These routine detections will be made publicly available for non-commercial use 30 days after collection. Together, with complementary satellite programs, like the Environmental Defense Fund’s MethaneSAT, Carbon Mapper will provide transparent data at different levels of granularity and ensure that the information gets into the right hands to catalyze faster and more effective emissions reductions.

Special Note to Reporters:
More information, including plume images and key data from Tanager-1, can be found in our press package here. 

About Carbon Mapper
Carbon Mapper is a nonprofit organization based in Pasadena, CA, with the mission to drive greenhouse gas emissions reductions by making methane and carbon dioxide data accessible and actionable. It focuses on filling gaps in the emerging ecosystem of methane and CO2 monitoring systems by delivering data at facility scale that is precise, timely, and accessible to empower decision making and direct mitigation action. The organization leads a public-private coalition that is developing and deploying a constellation of satellites capable of detecting, quantifying, and verifying methane emissions worldwide. Data from these satellites will offer the next major step in scaling up the organization’s robust data portal featuring thousands of direct observations of global methane and CO2 super-emitters. Learn more at carbonmapper.org, view data at data.carbonmapper.org, and follow us on X @carbonmapper.

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SOURCE Carbon Mapper Inc.

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