The rising need to outsource analytical testing services for decreased manufacturing costs and augmented operational efficiency is a key market growth driver

Market Size – USD 5.2 billion in 2020, Market Growth – at a CAGR of 11.6%, Market Trends – The growing adoption of QbD approach for pharmaceutical R&D

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.

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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.

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

o Immunogenicity & Neutralizing Antibody Testing

o Cell-based Assays

o Virology Testing

o Pharmacokinetic Testing

o Biomarker Testing

o Others

· Method Development & Validation Services

o Extractable & Leachable Method Development & Validation

o Stability-indicating Method Validation

o Process Impurity Method Development & Validation

o Analytical Standard Characterization

o Cleaning Validation

o Technical Consulting

o Others

· Physical Characterization Services

o Laser Particle Size Analysis

o Thermal Analysis

o Surface Area Analysis

o Image Analysis

o Others

· Batch-release Testing Services

o Dissolution Testing

o Disintegration Testing

o Elemental Impurity Testing

o Hardness Testing

o Friability Testing

o Others

· Raw Material Testing Services

o Complete Compendia Testing

o Heavy Metal Testing

o Container Testing

o Karl Fischer Analysis

o Wet Chemistry Analysis

o Other Raw Material Testing Services

· Environmental Monitoring Services

o Air Testing

o Wastewater/ETP Testing

o Others

· Microbial Testing Services

o Microbial Limit Testing

o Preservative Efficacy Testing

o Endotoxin Testing

o Sterility Testing

o Water Testing

o Others

· Stability Testing

o Formulation Evaluation Stability Testing

o Accelerated Stability Testing

o Drug Substance Stability Testing

o Photostability Testing

o Comparative Stability Testing

o 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

o U.S.

o Canada

· Europe

o Germany

o U.K.

o France

o BENELUX

o Rest of Europe

· Asia Pacific

o China

o Japan

o India

o South Korea

o Rest of the Asia Pacific

· Latin America

o Brazil

o Rest of Latin America

· Middle East & Africa

o Saudi Arabia

o UAE

o Rest of the Middle East & Africa

Key queries addressed in the report:

1. What is the impact of the COVID-19 pandemic on the Healthcare Analytical Testing Services global landscape?

2. What is the estimated market size for the forecast period?

3. What are the recent developments observed in the Healthcare Analytical Testing Services sector?

4. How is the sector expected to progress in the post-COVID period?

5. Who are the leading players in the global business landscape?

6. Which regions are dominating the overall market?

7. What are the key trends predicted to impact the future development of the industry?

8. What are the growth opportunities existing in the sector?

9. Which factors are expected to curtail industry growth in the coming years?

10. What are the prevalent strategic initiatives undertaken by dominant players?

The Healthcare Analytical Testing Services Market report is updated with the latest economic scenario with the value, drivers, constraints, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT examination and Porter’s Five Forces Analysis to assess the leading companies.

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Table of Content:

Chapter 1. Methodology and Scope

1.1. Market Segmentation & Scope

1.2. Market Definition

1.3. Information Procurement

1.3.1. Purchased Database

1.3.2. Internal Database

1.3.3. Secondary Sources & Third-Party Perspectives

1.3.4. Primary Research

1.4. Information Analysis

1.4.1. Data Analysis Models

1.5. Market Formulation & Data Visualization

1.6. Data Validation & Publishing

Chapter 2. Executive Summary

2.1. Market Outlook

2.2. Material Type Outlook

2.3. Application Outlook

2.4. Regional Insights

Chapter 3. Healthcare Analytical Testing Services Market Variables, Trends & Scope

3.1. Market Introduction

3.2. Penetration & Growth Prospect Mapping

3.3. Industry Value Chain Analysis

3.3.1. Sales/Retail Channel Analysis

3.3.2. Profit Margin Analysis

3.4. Market Dynamics

3.4.1. Market Driver Analysis

3.4.2. Market Restraint Analysis

3.4.3. Industry Challenges

3.4.4. Industry Opportunities

3.5. Business Environment Analysis

3.5.1. Industry Analysis - Porter’s Five Forces

3.5.1.1. Supplier Power

3.5.1.2. Buyer Power

3.5.1.3. Substitution Threat

3.5.1.4. Threat from New Entrant

3.5.1.5. Competitive Rivalry

3.6. Roadmap Healthcare Analytical Testing Services Market

3.7. Market Entry Strategies

Chapter 4. Consumer Behavior Analysis

Continued….

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