MarketResearch.biz announces publication of its most recently generated research report titled, “Global Healthcare Analytical Testing Services Market by Service Type (Physical Characterization Services, Method Development and Validation, Raw Material Testing, Batch Release Testing Services, Stability Testing, Microbial Testing, and Environmental Monitoring), by End-User (Pharmaceutical Companies, Biotechnology Companies, Medical Device Companies, and Contract Research Organizations) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). Global Forecast to 2027.”, which offers a holistic view of the healthcare analytical testing services market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2018–2022) is projected to be more than US$ 20 Bn, which is expected to increase relatively over the latter part of the five-year forecast period.
Healthcare analytical testing services are mostly adopted by pharmaceutical companies, biopharmaceutical companies, and medical equipment or device manufacturers to gain support in end-to-end stages of drug development. This analytical testing service offers important support in the overall drug development process that is from start of discovery of drug, through end of clinical trials and launch of drugs for commercial use.
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Global Healthcare Analytical Testing Services Market Dynamics
Major factors driving growth of the global healthcare analytical testing services market is due to high demand and need for outsourcing of research & development activities.
In addition, rising cost of analytical testing of biosimilar or biologics, rising trend of outsourcing analytical testing services by various companies in healthcare sector in order to reduce time and cost required for overall manufacturing process, and growing adoption of QbD (Quality by design) approach by pharmaceutical manufacturing companies as it supports the them to deliver outcomes with high quality and accuracy are other major factors expected to drive growth of the global market.
Growing biopharmaceutical industry, coupled with rising number of biopharmaceutical drugs in pipeline is resulting in high demand for bioanalytical testing services, which in turn is expected to fuel growth of the global healthcare analytical testing services market in the years to come.
Global Healthcare Analytical Testing Services Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global healthcare analytical testing services market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global healthcare analytical testing services market is expected to register a CAGR of 12.7% during the forecast period.
Global Healthcare Analytical Testing Services Market: Segmental Snapshot
The market report has been segmented on the basis of service type, end user, and region. The service type segment includes bioanalytical testing services (cell-based assays, virology testing, immunogenicity and neutralizing antibody testing, biomarker testing, and pharmacokinetic testing), physical characterization services (laser particle size analysis, thermal analysis, image analysis, and surface area analysis), method development and validation (extractable and leachable method development and validation, process impurity method development and validation, stability indicating method validation, other (cleaning validation method development, analytical standard characterization, and technical consulting)), raw material testing (complete compendial testing, heavy metal testing, container testing, and other (Karl Fischer analysis and wet chemistry analysis)), batch release testing services (dissolution testing, elemental impurity testing, disintegration testing, and other (hardness testing and friability testing)), stability testing (drug substance stability testing, formulation evaluation stability testing, accelerated stability testing, and other (photo stability testing and comparative stability testing)), microbial testing (microbial limit testing, sterility testing, endotoxin testing, and other (preservative efficacy testing and water testing)), and environmental monitoring (air testing and wastewater/ETP testing). The end user segment includes pharmaceutical companies, biotechnology companies, medical device companies, and contract research organizations. The region includes the North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By Service Type: The bioanalytical testing services segment is expected to register highest CAGR of over 12.8% over the forecast period in the global market
By End User: The contract research organizations segment is expected to register highest CAGR of over 12.9% over the forecast period in the global market
By Region: The market in Asia Pacific is expected to register highest CAGR of over 13.3% in the global healthcare analytical testing services market
Global Healthcare Analytical Testing Services Market: Competitive Analysis
The research report on the global healthcare analytical testing services market includes profiles of some of the major companies such as Almac Group Limited, Element Materials Technology Group Limited, Eurofins Scientific SE, PPD Development, LP, Source BioScience plc, Intertek Group plc, Laboratory Corporation of America, Inc., BioReliance Corporation (Merck KGaA), Charles River Laboratories, Inc., and WuXi AppTec, Inc. (WuXi PharmaTech (Cayman) Inc.).
The Global Healthcare Analytical Testing Services Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2018–2027 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global healthcare analytical testing services market for 2017–2027.
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