Alcami Corporation Announces the Opening of Pharma Storage Facility in North Carolina

Published: 26 Nov 2024

Author: Precedence Research

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Alcami corporation, one of the leading companies for pharmaceutical stability and storage services revealed new conditions and services at their state-of-the-art pharma storage facility in Garner, North Carolina, United States in July 2024. The facility opened in January 2024 but now it has significantly expanded the stability, cold and custom storage at this facility. These additions will help meet growing demands of pharmaceuticals.

There are a large number of pharmaceutical businesses that are based in United States and Canada. Also, the presence of key players in this region have given North America the highest revenue share of over 54% of the pharmaceutical stability and storage services market. This region was valued at USD 3.38 billion in 2024 and will continue to increase. While the Asia Pacific region will witness a CAGR growth of about 7% in the next few years mainly due to contributions from countries like China, Japan and India.

The research and development activities in the pharmaceutical industry has grown exponentially during and since the COVID 19 pandemic. Most of the key players are investing in research and development regularly which has boosted the pharmaceutical stability and storage businesses. The spending on research and development by the pharmaceutical industry exceeded USD 300 billion worldwide in 2023. The return of investment on these activities that year increased by 4.1% with probability of the higher returns in the coming years.  With organizations like Almaci Corporation expanded their storage facilities which helps aid the R & D activities.

Pharmaceutical Stability And Storage Services Market Size and Forecast 2023 to 2032

The global pharmaceutical stability and storage services market size was reached at USD 3.06 billion in 2022 and it is expected to hit around USD 5.24 billion by 2032 growing at a CAGR of 5.6% from 2023 to 2032.

Pharmaceutical Stability and Storage Services Market Companies:

• Catalent, Inc.
• Charles River Laboratories International, Inc
• Almac Group
• Eurofins Scientific
• Lucideon Limited
• Intertek Group Plc
• Alcami Corporation
• Element Materials Technology
• Q1 Scientific
• BioLife Solutions
• Masy BioServices
• Roylance Stability Storage Limited
• Reading Scientific Services Ltd.
• Als Ltd.
• Auriga Research Private Limited
• Q Laboratories
• Precision Stability Storage
• PD Partners

Recent News from Pharmaceutical Stability And Storage Services Companies

• In October 2024, Q1 Scientific opened a new cGMP facility in Durham, North Carolina. This has expanded the company’s capacity for environmentally controlled stability storage services for pharmaceutical, life sciences and medical devices industries.
• In May 2024, Charles River Laboratories International, Inc. announced the introduction of their modular and fast track viral vector technology transfer frameworks. After years of development and tinkering, this technology program offers a phase appropriate and customizable frameworks to yield remarkable stability, cost-effective and less time-consumption. 
• In July 2024, Almac Group announced their investment in Singapore for enhancement of the cold chain facility for global pharmaceutical sponsors and patients. This expansion will add on to the existing infrastructure to include production as well as logistics. The facility will operate at temperatures ranging from -25°C to -15°C along with a secondary production room which will grow Almac’s capacity to manage temperature sensitive clinical supplies.

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