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Pharmaceutical Analytical Testing Outsourcing Market Size, Share & Trends Analysis Report By Service, By Region And Segment Forecasts, 2022 - 2030

Pharmaceutical Analytical Testing Outsourcing Market Size, Share & Trends Analysis Report By Service, By Region And Segment Forecasts, 2022 - 2030

  • May 2022
  • 275 pages
  • ID: 5867115
  • Format: PDF
  • Grand View Research

Summary

Table of Contents

Pharmaceutical Analytical Testing Outsourcing Market Size, Share & Trends Analysis Report By Service (Bioanalytical, Method Development & Validation, Stability Testing), By Region, And Segment Forecasts, 2022 - 2030

Pharmaceutical Analytical Testing Outsourcing Market Growth & Trends

The global pharmaceutical analytical testing outsourcing market size is expected to reach USD 14.6 billion by 2030. The market is expected to expand at a CAGR of 8.4% from 2022 to 2030. Increasing biological candidate pipelines, rising demand for additional analytical details on drugs, and process development by regulatory agencies are driving the market growth. Analytical testing aids in real-time product quality control, as well as helps to optimize and monitor processes, characterizing different drugs. During the advent of COVID-19, a large number of R&D activities, and clinical trials, and were being conducted to counteract COVID-19, this is anticipated to have increased the demand for analytical testing services and is likely to have a positive impact on market growth.

The majority of small and medium-sized pharma companies lack infrastructure for analytical testing.As a result, outsourcing these operations is the best option, as it saves time and money.

The patent cliff, primarily for small molecules, and biologics are likely to have a positive impact on the market as it will increase the number of commercial drugs in the pharma market thus promoting analytical testing of commercially available generic drugs.

There has been a rise in several diseases post-COVID-19. For instance, according to a report published by Children’s National Hospital- pediatric research and clinical innovations center, a study was performed on 737 youths who were diagnosed with diabetes, and it found an increased incidence of pediatric Type 1 Diabetes (T1D) by 15.2% and Type 2 Diabetes (T2D) increased by 182% between March 11, 2018, and March 10, 2021. The rise in the disease incidence is expected to improve, drug production, which is likely to drive the demand for analytical services for commercial drugs.

Pharmaceutical Analytical Testing Outsourcing Market Report Highlights
• The bioanalytical testing segment is expected to grow with the fastest CAGR of 8.9% over the forecast due to the high number of clinical trial registrations and the entry of new drugs participants into the pharmaceutical market
• Asia Pacific is anticipated to be the fastest-growing regional market from 2022 to 2030 due to low-cost service offering by the third-party service providers in the region
• North America is expected to hold the largest revenue share of 53.7% in 2021 owing to the presence of a significant number of pharmaceutical companies in the region

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