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Healthcare Analytical Testing Services Global Market Report 2022: Ukraine-Russia War Impact

Healthcare Analytical Testing Services Global Market Report 2022: Ukraine-Russia War Impact

  • November 2022
  • 175 pages
  • ID: 6368675
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the healthcare analytical testing services market are Laboratory Corporation, Eurofins Scientific SE, Charles River Laboratories International Inc, Pace Analytical Services LLC, WuXi AppTec, PPD Inc, Intertek Group plc, Syneos Health, ICON plc, Merck KGaA, SourceBio International plc, Element Materials Technology Group, Thermo Fisher Scientific Inc, Danaher Corporation, Almac Group, Steris Corporation, Sartorius AG, ALS Limited, Anacura Life Sciences, and Impact Analytical Testing Lab.

The global healthcare analytical testing service market is expected to grow from $4.11 billion in 2021 to $4.83 billion in 2022 at a compound annual growth rate (CAGR) of 17.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The healthcare analytical testing service market is expected to grow to $8.06 billion in 2026 at a CAGR of 13.6%.

The healthcare analytical testing service market consists of sales of healthcare analytical testing services by entities (organizations, sole traders, and partnerships) that are used to perform quality control of active pharmaceutical ingredients and intermediates in drug development, diagnosis of diseases, analytical method validation, active pharmaceutical ingredient analysis, and testing of biological samples in research and development. Healthcare analytical testing service refers to the process of validation of procedures used in drug discovery and development, finished products, and the detection of microorganisms in biological drugs, suspensions, and emulsions.

The main types of healthcare analytical testing services are bioanalytical testing services, physical characterization services, method development and validation testing services, raw material testing services, batch-release testing services, stability testing, microbial testing services, and others.Bioanalytical testing services use medical devices to provide pharmacokinetics and pharmacodynamics aspects and determine drug and metabolite content in blood and urine used in pharmacological and toxicological research.

Bioanalytical refers to the process of detection of metabolites in biological fluids. The different end users include pharmaceutical and biopharmaceutical companies, medical device companies, and clinical research organizations.

North America was the largest region in the healthcare analytical testing services market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the healthcare analytical testing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Increasing cases of chronic diseases are expected to drive the healthcare analytical testing service market going forward.Chronic diseases refer to diseases that persist in humans for more than three months, and these diseases include arthritis, asthma, cancer, diabetes, and so on.

Healthcare analytical testing services are essential for the diagnosis and early treatment of millions of patients suffering from chronic diseases.For instance, according to Firstpost, an India-based online news and media website, diabetes cases in India are expected to double to 134 million by 2025.

Therefore, increasing cases of chronic diseases are driving the growth of the healthcare analytical testing service market.

Technological advancement is the key trend gaining popularity in the healthcare analytical testing service market.Major market players are creating innovative technologies to sustain their position in the market.

For instance, in April 2022, Charles River Laboratories International Inc., a US-based pharmaceutical company that provides clinical analytical and drug discovery services, and Valo Health Inc., a US-based company operating in the drug discovery process, launched the Logica analytical platform. This integrated AI-powered drug testing platform helps to design drug molecules, synthesis capabilities, and DNA-encoded libraries and directly translates biological testing outputs into optimized preclinical results to enhance drug discovery and biological testing.

In December 2021, Laboratory Corporation, a US-based life science company specializing in diagnostic and contract research services, acquired Toxikon Corporation for an undisclosed amount.This acquisition helps Laboratory Corporation to expand its product portfolio in non-clinical analytical drug development and medical device analytical testing services.

Toxikon Corporation is a US-based contract research organization specializing in nonclinical testing, drug development testing, medical device testing, and toxicology analytical services.

The countries covered in the healthcare analytical testing services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The healthcare analytical testing service market research report is one of a series of new reports that provides healthcare analytical testing service market statistics, including healthcare analytical testing service industry global market size, regional shares, competitors with a healthcare analytical testing service market share, detailed healthcare analytical testing service market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare analytical testing service industry. This healthcare analytical testing service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

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