Healthcare Analytical Testing Services Market Worth $8.4 Billion By 2025

By Author: Dheeraj Shaha
Total Articles: 22
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In the current global scenario-where the focus on biologics and biosimilars has risen-it is expected that the benefits of advanced healthcare analytical testing services will ensure their greater adoption. The increasing demand for specialized testing services, the number of clinical trials, and the acceptance of the QbD approach in pharmaceutical research and manufacturing are other factors driving the growth of healthcare analytical testing services market during forecast year.

According to the latest market research by MarketsandMarkets, “The global healthcare analytical testing services market size is projected to reach USD 8.4 billion by 2025 from USD 4.9 billion in 2020, at a CAGR of 11.4%.”

Current Market Opportunities:

1. Specialized testing
2. Emerging markets
3. Increasing number of clinical trials

Market Size Estimation:

This study involved the extensive use of both primary and secondary sources. The research process included a study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key ...
... market dynamics, and key player strategies.

The healthcare analytical testing services market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (revenue share analysis of leading players) and top-down approach (assessment of utilization/adoption/penetration trends by type and end user).

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Based on the end user, the healthcare analytical testing services market is broadly classified into pharmaceutical & biopharmaceutical companies, medical device companies, and contract research organizations (CROs). Pharmaceutical & biopharmaceutical companies hold the largest share in the market. The largest share of this segment in the market can be attributed to the tremendous amount of analytical testing required to support a product from discovery, development, and clinical trials, through manufacturing and marketing.

Within the type segment, the market is segmented into bioanalytical testing services, physical characterization services, method development & validation services, raw material testing services, batch-release testing services, stability testing services, microbial testing services, and environmental monitoring services. The batch-release testing segment is projected to grow at the highest CAGR during the forecast period.

Key Questioned Answered in Report:

# Who are the key players in the market and which strategies have they pursued?

# What does the competitive landscape in this market look like?

# What is the strategic analysis of different geographical regions?

# What are the different market opportunities for stakeholders?

Geographical Growth Analysis of Healthcare Analytical Testing Services Market:

North America held the largest share in the healthcare analytical testing services market in 2019. This dominance of North America in this market is due to the presence of many pharmaceutical and biopharmaceutical companies, high investments and rising focus on the biosimilars & biologics segment, and high allocation to R&D. The Asia Pacific market is expected to register the highest growth during the forecast period, primarily due to the lower production costs and growing favorability of the regulatory environment.

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Recent Developments In Healthcare Analytical Testing Services Market:

1. In January 2020, LabCorp’s Drug Development Business launched Preclinical, Clinical, and Post-Approval Cell, and Gene Therapy Development Solutions.

2. In June 2019, Eurofins Scientific acquired Transplant Genomics Inc. (US) to expand its transplantation testing footprint.

3. In May 2019, SGS acquired Chemical Solutions Ltd. (CSL) (US), a testing laboratory specializing in elemental and heavy metal testing for food, nutraceuticals, pharma, and cosmetic products.

4. In December 2019, Frontage Labs partnered with J&J Corporate Services, Inc. (US) to expand its foothold in Canada and the west coast of North America.

Key Players in Healthcare Analytical Testing Services Market:

The prominent players in the global healthcare analytical testing services market are Eurofins Scientific (Luxembourg), LabCorp (US), SGS (Switzerland), Charles River Laboratories (US), WuXi PharmaTech (China), PPD (US), Element Materials Technology (UK), Pace Analytical (US), Intertek (UK), Merck KGAA (Germany), Source BioScience (UK), Almac Group (Ireland), ICON (Ireland), Frontage Labs (US), STERIS PLC (US), PRA Health Sciences (US), Syneos Health (US), Medpace Holdings (US), LGC Limited (UK), and Anacura (Belgium).

Healthcare | Biotechnology | Pharmaceuticals | Healthcare IT | Market Research | Medical Device