“Rising Demand for Regulatory Compliance Across Industries”
- The growing stringency of international and domestic regulations across sectors like pharmaceuticals, automotive, and food is significantly driving the TIC market. Industries must comply with ISO, FDA, and other local standards to access global markets.
- For Instance: In February 2024, SGS SA expanded its pharmaceutical testing capabilities in Singapore to support international clients in meeting regulatory standards such as the U.S. FDA, EU GMP, and WHO guidelines.
- This need for compliance drives companies to adopt third-party TIC services to ensure product safety, quality, and performance across manufacturing and distribution processes.
- For Instance: In 2023, TÜV Rheinland provided compliance inspection for European manufacturers to meet new EU Medical Device Regulations (MDR), ensuring continued market access.
