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Healthcare Analytical Testing Services Market by Type, End User - Global Forecast to 2026

Healthcare Analytical Testing Services Market by Type, End User - Global Forecast to 2026

  • September 2021
  • 345 pages
  • ID: 5365435
  • Format: PDF
  • MarketsandMarkets

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The healthcare analytical testing services market is projected to reach USD 9.8 billion by 2026 from USD 5.6 billion in 2021, at a CAGR of 11.9%. Growth in the market is driven by the rising trend of outsourcing of analytical testing by pharmaceutical companies and medical device companies, an increasing number of clinical trials, and the rising acceptance of the QbD approach in pharma research and manufacturing.

The batch-release testing segment is expected to grow at the highest rate, by type, in the healthcare analytical testing services market, in the forecast period.
On the basis of type, the healthcare analytical testing services market is segmented into bioanalytical testing, physical characterization, method development & validation, stability testing, batch-release testing, raw material testing, microbial testing, and environmental monitoring services.
In the forecast period, batch-release testing segment is expected to grow at the highest rate, by type.The high growth of this segment can be attributed to the utility of these services in ensuring that pharmaceutical products are compliant with regulations and meet specifications within the marketing authorization (MA) or Clinical Trial Dossier (CTD).

Within the batch-release testing segment, the dissolution testing services segment holds the highest market share and is growing at the highest rate in the forecast period.

In the bioanalytical testing services segment, cell-based assay services holds the highest share in the market in the forecast period.
On the basis of type, the healthcare analytical testing services market is segmented into bioanalytical testing, physical characterization, method development & validation, stability testing, batch-release testing, raw material testing, microbial testing, and environmental monitoring services.
The bioanalytical testing services segment holds the highest share during the forecast period.Within this segment, cell-based assay services holds the highest market share.

This high market share can be attributed to the usage of cell-based assays in high-throughput screening, which has increased due to their ability to provide relevant in vivo biological information, consequently accelerating the process of drug discovery.

The medical device companies segment is expected to grow at the highest rate, by end user, in the healthcare analytical testing services market, in the forecast period.

In this report, the healthcare analytical testing services market has been segmented into pharmaceutical & biopharmaceutical companies, medical device companies, and contract research organizations (CROs), by end user.The medical device companies segment is expected to grow at the highest rate in the market in the forecast period.

The high growth rate of the segment maybe attributed to increasing demand by OEMs for more services and expertise, evolving regulatory scenarios, technological advancements in medical devices, and the adoption of point-of-care (POC) testing driving the demand for healthcare analytical testing services among medical device companies.

APAC is expected to grow at the highest rate in the healthcare analytical testing services market, by region, in the forecast period
The healthcare analytical testing services market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.The Asia Pacific region is expected to grow at the highest rate, by region, in the forecast period.

This high growth rate can be attributed to significant growth opportunities in emerging Asian countries and lower their production costs by shifting manufacturing and drug R&D operations to the region, making this region a major destination for drug discovery and development. Moreover, the large number of qualified researchers and the low cost of operations in APAC countries, such as India and China, have supported this trend.

A breakdown of the primary participants for the healthcare analytical testing services market referred to for this report is provided below:
• By Company Type: Tier 1–40%, Tier 2–35%, and Tier 3–25%
• By Designation: C-level–45%, Director Level–35%, and Others–20%
• By Region: North America–45%, Europe–25%, Asia Pacific–15%, Latin America – 10%, Middle East & Africa – 5%

The prominent players in the global healthcare analytical testing services market are Eurofins Scientific (Luxembourg), Laboratory Corporation of America Holdings (US), SGS S.A. (Switzerland), Charles River Laboratories (US), WuXi AppTec Co. Ltd. (China), PPD, Inc. (US), Element Materials Technology (UK), Thermo Fisher Scientific (US), Pace Analytical Services, LLC. (US), Intertek Group LLC. (UK), Merck KGaA (Germany), Danaher Corporation (US), Source BioScience (UK), Almac Group (UK), ICON plc (Ireland), Frontage Laboratories, Inc. (US), STERIS plc (US), Sartorius AG (Germany), ALS Life Science (US), Syneos Health (US), Medpace Holdings, Inc. (US), Cinven (LGC Limited) (UK), Anacura (Belgium), Impact Analytical (US), & CD BioSciences (US).

Research Coverage
The report analyzes the market for various healthcare analytical testing services and their adoption pattern.It aims at estimating the market size and future growth potential of the healthcare analytical testing services and different segments such as by type, end user and region.

The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, services, and recent developments.

Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening their market presence.

This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the service portfolios offered by the top players in the global healthcare analytical testing services market.
• Service Development/Innovation: Detailed insights on the upcoming trend, and service launches in the global healthcare analytical testing services market.
• Market Development: Comprehensive information on the lucrative emerging regions by type, end users, and region.
• Market Diversification: Exhaustive information about new services, growing geographies, and recent developments in the global healthcare analytical testing services market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and services of leading players in the global healthcare analytical testing services market.

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