Healthcare Analytical Testing Services Market Size To Reach USD 11.9 Billion By 2028 | Top Key Players Almac Group, LabCorp, Merck KGAA

September 14 14:11 2021
Healthcare Analytical Testing Services Market Size To Reach USD 11.9 Billion By 2028 | Top Key Players Almac Group, LabCorp, Merck KGAA
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.

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

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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
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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