The rising need to outsource analytical testing services for decreased manufacturing costs and augmented operational efficiency is a key market growth driver.
The rising need to outsource analytical testing services for decreased manufacturing costs and augmented operational efficiency is a key market growth driver
The global healthcare analytical testing services market size is expected to reach USD 11.9 billion by 2028 at a CAGR of 11.6%, according to a new report by Reports and Data. The global market growth is significantly accelerated by the rising need for outsourcing healthcare analytical testing services, the growing number of contract research organizations, increasing clinical trials being performed worldwide, and the surging adoption of the quality-by-design approach among pharmaceutical companies. Pharmaceutical and biopharmaceutical companies worldwide are outsource healthcare analytical testing services to streamline drug manufacturing processes, ease the end-to-end stages of drug discovery, reduce their capital expenditure, and raise profit margins. Healthcare analytical testing services are also leveraged by these companies to reduce the time required for process validation, facilitate clinical trials and commercial launch of drugs, offer in-depth insights into patient records and hospital management, and improve patient outcomes.
The significant rise of the biopharmaceutical sector, augmented focus on employing specialized testing services for biologics and biosimilars, and the growing development of biopharmaceutical drugs and products are further expected to propel the global healthcare analytical testing services market growth in the near future. However, the lack of technical expertise and skills and risks of user data breach associated with healthcare analytical testing services are specific factors expected to restrain the growth of this market in the upcoming years.
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Key Highlights of the Report:
- Based on type, the batch-release testing segment is poised to record the highest CAGR over the estimated timeframe. The dissolution testing services sub-segment is therefore expected to emerge as the most dominant, with the largest market share.
- Of the various end-users, the pharmaceutical & biopharmaceutical companies segment is projected to account for the largest market share over the forecast period. The growth of this segment is mainly attributed to the growing demand for healthcare analytical testing services among these companies to facilitate clinical trials, drug discovery, and drug development processes.
- The North America region is predicted to dominate the global healthcare analytical testing services market over the estimated period in terms of revenue. The region is home to several leading pharmaceutical companies, which is a key factor propelling the market growth in this region. Increased investments in healthcare research & development programs further bolsters the North America market growth.
- The global healthcare analytical testing services market comprises several key players, including Almac Group, LabCorp, Merck KGAA, Eurofins Scientific, Element Materials Technology, Syneos Health, WuXi PharmaTech, Pace Analytical, Frontage Labs, Medpace Holdings, Intertek, Source BioScience, PRA Health Sciences, STERIS PLC, LGC Limited, and Charles River Laboratories.
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For the purpose of this report, the global healthcare analytical testing services market has been segmented based on type, end-user, and region:
By Type (Revenue, USD Billion; 2018-2028)
- Bioanalytical Testing Services
- Immunogenicity & Neutralizing Antibody Testing
- Cell-based Assays
- Virology Testing
- Pharmacokinetic Testing
- Biomarker Testing
- Others
- Method Development & Validation Services
- Extractable & Leachable Method Development & Validation
- Stability-indicating Method Validation
- Process Impurity Method Development & Validation
- Analytical Standard Characterization
- Cleaning Validation
- Technical Consulting
- Others
- Physical Characterization Services
- Laser Particle Size Analysis
- Thermal Analysis
- Surface Area Analysis
- Image Analysis
- Others
- Batch-release Testing Services
- Dissolution Testing
- Disintegration Testing
- Elemental Impurity Testing
- Hardness Testing
- Friability Testing
- Others
- Raw Material Testing Services
- Complete Compendia Testing
- Heavy Metal Testing
- Container Testing
- Karl Fischer Analysis
- Wet Chemistry Analysis
- Other Raw Material Testing Services
- Environmental Monitoring Services
- Air Testing
- Wastewater/ETP Testing
- Others
- Microbial Testing Services
- Microbial Limit Testing
- Preservative Efficacy Testing
- Endotoxin Testing
- Sterility Testing
- Water Testing
- Others
- Stability Testing
- Formulation Evaluation Stability Testing
- Accelerated Stability Testing
- Drug Substance Stability Testing
- Photostability Testing
- Comparative Stability Testing
- Others
By End-user (Revenue, USD Billion; 2018-2028)
- Pharmaceutical & Biopharmaceutical Companies
- Contract Research Organizations
- Medical Device Companies
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By Region (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of the Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of the Middle East & Africa
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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