The enormous demand for research and development outsourcing has accelerated the expansion of the global healthcare analytical testing services market. Medical device, pharmaceutical, and biopharmaceutical companies rely on healthcare analytical testing services to help them through all of the stages of drug development. This service assists with the entire clinical development right from discovery to preclinical studies to clinical trials to commercialization.
The global healthcare analytical testing services market is expected to be driven by soaring biologics and biosimilar analytical testing rates, growing acceptance of the Quality by design (QbD) approach in pharma manufacturing, and surge in outsourcing of analytical testing by many pharmaceutical companies. QbD assists a wide range of pharmaceutical businesses in implementing data-driven, systematic solutions that result in high-quality outcomes. To save time and money throughout the manufacturing process, several biotechnology and pharmaceutical businesses are outsourcing analytical testing services. As a result, the use of FTE contracts in R&D outsourcing is becoming more common. On the other side, lack of expert professionals in the industry may hinder the adoption of healthcare analytical testing services. However, government initiatives to strengthen healthcare sector with increasing expenditure and funding may offer better growth opportunities for the market.
The global healthcare analytical testing services market is segregated into type, end-user, and region. Based on the type, the global market is classified into method development & validation testing services, physical characterization services, bioanalytical testing services, environmental monitoring services, microbial testing services, stability testing, batch-release testing services, and raw material testing services. Clinical research organizations, medical device companies, and pharmaceutical & biopharmaceutical companies are the end-users of the healthcare analytical testing services market.
North America is expected to hold the largest share in the global healthcare analytical testing services market. Factors such as the presence of research-oriented pharma & biological companies and an increase in new drug developments have triggered the adoption of healthcare analytical testing in the region. The US is a house of major pharma players. Also, number of clinical trials conducted every year in the country is very high. All these factors ensure healthy growth of the market in the US over the forecast period. Healthcare analytical testing services market in Asia Pacific is likely to register significant growth during the forecast period. This is mainly attributed to increasing investments in analytical services by major pharma players.
WuXi AppTec Co. Ltd., Charles River Laboratories, SGS S.A., Laboratory Corporation of America Holdings, Eurofins Scientific, Merck KGaA, Intertek Group LLC., Pace Analytical Services, LLC., Element Materials Technology, and PPD, Inc. are some of the prominent players that are operating in the global healthcare analytical testing services market.
In April 2021, SGS S.A. (Switzerland) acquired SYNLABS Analytics & Services (Germany) to strengthen SGS’ presence in Northwestern Europe, especially in Germany, Benelux, and the Nordic countries.
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