Asia-Pacific Analytical Laboratory Services Market, By Test Type (Bioanalytical Testing, Batch Release Testing, Stability Testing, Raw Material Testing, Physical Characterization, Method Validation, Microbial Testing, Environmental Monitoring), Service Type (Hospital-Based Laboratories, Stand-Alone Laboratories, Clinics-Based Laboratories), Method Type (Cell-Based Assays, Virology Testing, Method Development Optimization and Validation, Serology, Immunogenicity, Neutralizing Antibodies, Biomarker Testing, Pharmacokinetic Testing, Others), Application (Public health, Oncology, Neurology, Infectious disease, Gastroenterology, Cardiology, General, Other Applications), Technology (Mass Spectroscopy, Immunochemistry, UPLC technology, Turbulent Flow Technology, Others), End User Channel (Pharmaceutical and Biopharmaceutical companies, Contract development and manufacturing organizations, Contract research organizations, Others), Country (China, Japan, Australia, India, South Korea, Singapore, Malaysia, Indonesia, Philippines, Thailand and Rest of Asia-Pacific) Industry Trends and Forecast to 2028
Asia-Pacific analytical laboratory services market is expected to reach USD 2,754.81 million by 2028, growing with the CAGR of 15.2% in the forecast period of 2021 to 2028. Increasing number of drug approvals & clinical trials, and rising demand for specialized analytical testing services is expected to drive the market.
Analytical laboratory services concerned to a wide range of chemical and microbiological assays. Analytical laboratory services include method development and validation, sample analysis for concentration confirmation, purity, homogeneity, and stability assays on preliminary formulations and finalized drug products for IND, NDA, and ANDA submissions. Analytical services also referred to as “materials testing” is used to describe various techniques used to identify the chemical makeup or characteristics of a particular sample. Manufacturers in industries such as pharmaceuticals, food, electronics and plastics often use analytical testing for reverse engineering or failure analysis, and identifying contaminants or stains on products.
Limitations analysing novel complex products, cost of laboratory testing for drug development, maintenance and updating cost of instruments, and international guidelines are expected to hinder the market growth. Market players have taken various initiatives to increase the analytical laboratory services. Large numbers of market players are involved in providing analytical laboratory services with innovations that pave the way for the analytical laboratory services market growth.
The analytical laboratory services market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Analytical laboratory services market is categorized into six notable segments which are based on the test type, service type, method type, application, technology, end user channel. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of test type, the analytical laboratory services market is segmented into bioanalytical testing, batch release testing, stability testing, raw material testing, physical characterization, method validation, microbial testing, and environmental monitoring. In 2021, the bioanalytical testing segment is expected to dominate the market because of precise identification and the results of these tests are used in lot of scientific research.
- On the basis of service type, the analytical laboratory services market is segmented into hospital-based laboratories, stand-alone laboratories, and clinics-based laboratories. In 2021, hospital-based laboratories segment is expected to dominate the market as it is affordable compared to other segments.
- On the basis of method type, the analytical laboratory services market is segmented into cell-based assays, virology testing, method serology, immunogenicity, biomarker testing, and pharmacokinetic testing. In 2021, the bio-marker testing segment is expected to dominate the market as it is more reliable and precise.
- On the basis of application, the analytical laboratory services market is segmented into oncology, neurology, infectious diseases, gastroenterology, cardiology, and other applications. In 2021, the infectious disease segment is expected to show significant growth because of increasing cases of HIV and infectious diseases in Asia-Pacific.
- On the basis of technology, the analytical laboratory services market is segmented into mass spectroscopy, immunochemistry, UPLC technology, turbulent flow technology, and others. In 2021, the mass spectroscopy segment is expected to dominate the market as it can detect small substitute and quantify them too.
- On the basis of end user channel, the analytical laboratory services market is segmented into pharmaceutical & biopharmaceutical industries, contract development & manufacturing organizations, contract research organizations, and others. In 2021, the pharmaceutical and biopharmaceutical companies segment is expected to dominate the market due to increasing production of new and latest laboratory services in Asia-Pacific region.
Analytical Laboratory Services Market Country Level Analysis
The analytical laboratory services market is analysed and market size information is provided by test type, service type, method type, application, technology, end user channel as referenced above.
The countries covered in Asia-Pacific analytical laboratory services market are China, Japan, Australia, India, South Korea, Singapore, Malaysia, Indonesia, Philippines, Thailand and Rest of Asia-Pacific.
China is dominating the market due to the growing expenditure on drugs and medical devices and increasing trend of artificial intelligence in testing services has enhanced the demand of analytical laboratory services and expected to provide market with lucrative growth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
New Product Launches by Manufactures is Creating New Opportunities for Players in the Analytical Laboratory Services Market
Analytical laboratory services market also provides you with detailed market analysis for every country growth in aesthetic industry with analytical laboratory services market sales, impact of advancement in the analytical laboratory services market and changes in regulatory scenarios with their support for the analytical laboratory services market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Analytical Laboratory Services Market Share Analysis
Analytical laboratory services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to analytical laboratory services market.
The major companies providing analytical laboratory services in the Asia-Pacific analytical laboratory services market are WuXiAppTec, Eurofins Scientific, SGS SA, Covance (A Subsidiary of Laboratory Corporation of America Holdings), Intertek Group plc, Charles River Laboratories, ICON plc, among others global and domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the analytical laboratory services market.
- In November 2019, BioAgilytix Labs announced that it has acquired Cambridge Biomedical, a CRO based in Boston, MA. This acquisition done by the company has strengthened its service portfolio leading to increased sales and demand in future.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the analytical laboratory services market which also provides the benefit for organisation to improve their offering for analytical laboratory services market.
Customization Available: Asia-Pacific Analytical Laboratory Services Market
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