Healthcare Analytical Testing Services Market Size Worth $11.9 Billion by 2028; CAGR of 11.6% | Reports And Data
Merck KGAA, Almac Group, Eurofins Scientific, Element Materials Technology, LabCorp, Syneos Health, Medpace Holdings, WuXi PharmaTech, Frontage Labs, Charles River Laboratories, Pace Analytical, Intertek, Source BioScience, PRA Health Sciences, STERIS PLC, and LGC Limited are the key market players in the global healthcare analytical testing services market.
New York, March 08, 2021 (GLOBE NEWSWIRE) -- The surging focus of pharmaceutical and biopharmaceutical companies on the outsourcing of analytical testing services fuels the global market growth
Market Size – USD 5.2 billion in 2020, Market Growth – at a CAGR of 11.6%, Market Trends – The rising number of clinical trials worldwide
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 rising focus of pharmaceutical and biopharmaceutical companies on outsourcing healthcare analytical testing services, the emergence of contract research organizations (CROs), and the increasing adoption of the quality-by-design (QbD) approach are among the pivotal factors accountable for the growth of the global healthcare analytical testing services market.
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Analytical testing services play a significant role in the healthcare industry as they help simplify the drug manufacturing processes, enhance patient outcomes, reduce the process validation time, and decrease the overall manufacturing expenditure. These services facilitate the end-to-end stages of drug discovery and drug development. These services also help streamline the clinical trials of various drugs and facilitate their commercial launch. Moreover, healthcare analytical testing services provide deep insights into drug manufacturing processes, disease diagnosis, patient records, and hospital management. The market growth is further stimulated by the rapidly booming biopharmaceutical industry, rising adoption of specialized testing services for the development of biologics and biosimilars, and the surging number of clinical trials. However, some unfavorable factors, such as the lack of technical expertise among many healthcare professionals and data security risks associated with the use of healthcare analytical testing services, are expected to impede the market growth.
Healthcare Analytical Testing Services Market, By Type (Bioanalytical testing services, method development & validation services, raw material testing services, physical characterization services, stability testing, batch-release testing services, environmental monitoring services, microbial testing services), By End-user (Pharmaceutical & biopharmaceutical companies, medical device companies, contract research organizations), and By Region, Forecast to 2028; To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/healthcare-analytical-testing-services-market
Key Highlights of the Report:
Based on type, the batch-release testing segment is estimated to register the fastest growth rate over the projected period. Besides, the dissolution testing services sub-segment under the batch-release testing services segment is expected to lead the market with the highest revenue share. The batch-release testing services ensure the product complies with each of the regulatory specifications and that the highest-quality products are released for distribution and sales.
The pharmaceutical & biopharmaceutical companies end-user segment is poised to emerge as the leading market segment in the coming years, with the largest market share. The rising adoption of analytical testing services by these companies for drug discovery & development processes and clinical trials is a key driving factor for this segment.
The healthcare analytical testing services market in North America is set to emerge as the leading regional market over the forecast timeframe, accounting for the highest revenue share. The presence of leading pharmaceutical companies in North America and higher R&D investments in the healthcare sector boost the region’s market growth.
Key market players in the global healthcare analytical testing services market.
Merck KGAA
Almac Group
Eurofins Scientific
Element Materials Technology
LabCorp, Syneos Health
Medpace Holdings
WuXi PharmaTech
Frontage Labs
Charles River Laboratories
Pace Analytical
Intertek
Source BioScience
PRA Health Sciences
STERIS PLC
LGC Limited
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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
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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