Healthcare Analytical Testing Services Market

Healthcare Analytical Testing Services Market is forecast to reach USD 9,900 Million by 2028, registering a CAGR of 11.9% during the forecast period (2021-2028), owing to the growing adoption of QbD approach in pharmaceutical companies.

Introduction of the Healthcare Analytical Testing Services Market Report

The Healthcare Analytical Testing Services are mainly used by biopharmaceutical, pharmaceutical, and medical device manufacturers to support their drug development stages. This service supports the drug development process, starting from the discovery through clinical development to commercial use. Healthcare Analytical Testing Services help in maintaining quality, safety, and efficacy of the product.

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Market Dynamic

Key Drivers and Emerging Trends

The growing use of analytical testing by pharmaceutical companies to minimize the authentication time of products and high capital investment stands to be the major factor driving the healthcare analytical testing services market. Further, according to the Healthcare Analytical Testing Services Market forecast, the increasing trend of outsourcing analytical testing by several pharmaceutical companies to reduce risk, time, and manufacturing will fuel the market growth. Factors such as increasing number of clinical trials and increasing investment on the development and adoption of biosimilars as they are a cost-effective treatment option as compared to biologics, are projected to expand the market growth. According to the Biosimilars Trend Report, in July 2020, nearly 28 biosimilars were approved in the U.S. Moreover, leading market players are increasingly adopting strategies like mergers, acquisitions, partnerships, and collaborations to maintain their competitiveness in the market which will offer enormous opportunities to the market. For example, in 2021, the Veeda Clinical Research entered into a partnership with Somru BioScience Inc., a Canada-based biotechnology company to establish a bioanalytical laboratory in Ahmedabad, India, owing to the expansion in biosimilars market. However, as per the Healthcare Analytical Testing Services Market Report, the shortage of trained and scientifically skilled professionals will hamper the market growth.

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Type – Segment Analysis

Bioanalytical testing method is expected to expand at a higher rate over the coming years, owing to the expansion in the biopharmaceutical sector. In addition, the growing deployment of bioanalytical testing to control the drug development cost by effectively assessing the therapeutic organization throughout the process of drug development. For example, Veeda Clinical Research, one of the leading CROs in India, offers bioanalytical services to various global pharmaceutical companies.

End-User – Segment Analysis

Medical device companies’ segment is likely to grow at a higher CAGR during the forecast period due to the ongoing technological innovations in medical instruments. Other factors, such as changes in managerial framework and the deployment of Point-Of-Care by various medical companies, will stimulate market growth.

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Regional – Segment Analysis

North American Region is forecast to dominate the overall Healthcare Analytical Testing Services market over the forecast period. Increasing development across the pharmaceutical industry, increasing expenditure on research and development, and the strong presence of pharma and biopharmaceutical organizations in this region are some of the major factors contributing to the Healthcare Analytical Testing Services Market growth. For example, Pfizer Inc. dominates the biosimilars company at the global level. The company is actively engaged in the development and approval of biosimilars, needing analytical testing.

Top Market Players:

Some of the key players operating in the Healthcare Analytical Testing Services market includes Charles River Laboratories, Syneos Health, Lab Corp, WuXi AppTec Co. Ltd., Medplace Holdings Inc., Danaher Corporation, Intertek Group LLC, Thermo Fisher Scientific, Icon Plc, Frontage Laboratories Inc., and among others.

Key Developments:

• • In 2021, WuXi AppTec (China) acquired Couvet, a drug product manufacturing facility in Switzerland, from Bristol Myers Squibb.
  • In 2021, WuXi AppTec (China) declared the establishment of a latest manufacturing campus by WuXi STA in Delaware, US.
  • In 2021, SGS S.A. acquired SYNLABS Analytics & Services to expand SGS’ presence in Northwestern Europe, especially in Germany, Benelux, and the Nordic countries.
  • In 2021, Charles River Laboratories (US) acquired Retrogenix Ltd. to strengthen its early-stage contract research organization offerings.
  • In 2021, Veeda Clinical research, one of the leading CROs in India, partnered with Somru BioScience Inc., a Canada-based biotechnology company. Together they launched a bioanalytical laboratory in Ahmedabad in India for boosting the biosimilars market.

Segments covered in the Report:

The Healthcare Analytical Testing Services Market has been segmented based on type, end-user, and region. Based on type, the market is segmented into Bioanalytical Testing, Method Development & Validation, Cell-based Assays, Stability Testing, Heavy Metal Testing, Thermal Analysis, Cleaning Validation. Based on end-user, market is segmented into Pharmaceutical Companies, CROs, Medical Device Companies.

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Key questions answered in this research report:

• • At what pace is global Healthcare Analytical Testing Services market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Healthcare Analytical Testing Services Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Healthcare Analytical Testing Services market?
  • Which type generated maximum revenues in 2020 and identify the most promising type during the forecast period?
  • What is the various end-user of global Healthcare Analytical Testing Services Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Healthcare Analytical Testing Services Market by Type

• • Bioanalytical Testing
  • Method Development & Validation
  • Cell-based Assays
  • Stability Testing
  • Heavy Metal Testing
  • Thermal Analysis
  • Cleaning Validation

Global Healthcare Analytical Testing Services Market by End-User

• • Pharmaceutical Companies
  • CROs
  • Medical Device Companies

Global Healthcare Analytical Testing Services Market by Region

• • North America Healthcare Analytical Testing Services Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By End-User
    • US Market All-Up
    • Canada Market All-Up
  • Europe Healthcare Analytical Testing Services Market (Option 2: As a part of the free 25% customization)
    • By Type
    • By End-User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Healthcare Analytical Testing Services Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By End-User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Healthcare Analytical Testing Services Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By End-User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Healthcare Analytical Testing Services Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Healthcare Analytical Testing Services market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Charles River Laboratories
  • Syneos Health
  • Lab Corp
  • WuXi AppTec Co. Ltd.
  • Medplace Holdings Inc.
  • Danaher Corporation
  • Intertek Group LLC
  • Thermo Fisher Scientific
  • Icon Plc
  • Frontage Laboratories Inc