Supply Chain Ecosystem Analysis now part of DBMR Reports
Market Size in USD Billion
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USD 12.10 Billion |
| USD 22.45 Billion | |
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Global Healthcare Analytical Testing Services Market, By Type (Bioanalytical Testing Services, Physical Characterization Services, Method Development and Validation Services, Raw Material Testing Services, Batch-Release Testing Services, Stability Testing, Microbial Testing Services, Environmental Monitoring Services), End User (Pharmaceutical and Biopharmaceutical Companies, Medical Device Companies, Contract Research Organizations) – Industry Trends and Forecast to 2029.
Healthcare analytical testing services is referred to as material testing. Healthcare analytical services are used to confirm product quality and purity. Examine impurities that could infect the products during manufacturing or the early stages of product development. Bioanalytical testing devices are used to determine metabolites and drugs in biological matrices. These services are broadly used in drug development, pharmaceuticals, biotechnology and medical devices manufacturing which will further propel the market growth of healthcare analytical testing services.
Data Bridge Market Research analyses that the healthcare analytical testing services market which was USD 12.1 billion in 2021, is expected to reach USD 22.45 billion by 2029, at a CAGR of 8.03% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Bioanalytical Testing Services, Physical Characterization Services, Method Development and Validation Services, Raw Material Testing Services, Batch-Release Testing Services, Stability Testing, Microbial Testing Services, Environmental Monitoring Services), End User (Pharmaceutical and Biopharmaceutical Companies, Medical Device Companies, Contract Research Organizations)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Almac Group (U.S.), Element Materials Technology (U.K.), Eurofins Scientific (Luxembourg), PPD Inc. (U.S.), Source BioScience (U.K.), Intertek Group plc (U.K.), Laboratory Corporation of America Holdings (U.S.), Charles River Laboratories (U.S.), Medpace (U.S.), WuXi AppTec (China), IQVIA (U.S.), SGS Société Générale de Surveillance SA (Switzerland), Intertek Group plc (U.K.), Syneos Health. (U.K.), ICON plc (Ireland), PPD Inc. (U.S.), Parexel International Corporation. (U.S.), Altasciences. (Canada), BioAgilytix Labs. (U.S.), LGC Limited (U.K.)
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Market Opportunities
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Market Definition
Biopharmaceutical, pharmaceutical, and medical device manufacturers widely use healthcare analytical testing services to assist them throughout drug development. This service assists in drug development, from discovery to clinical development or clinical trials to commercialization.
Drivers
Outsourcing bioanalytical services are becoming increasingly popular to maximize resource utilization. While dedicated in-house laboratories are equipped with cutting-edge technology, they may be unable to handle complex bioanalytical testing. Furthermore, running in-house laboratories can be costly from a strategic standpoint. Outsourcing the lab role lowers overhead and operational costs, allowing businesses to continue to reap the benefits of such lab services. Lab outsourcing assists businesses and other institutions make money by allowing them to trade higher fixed costs for lower variable costs, reducing the need for capital investment in the company, and providing quick access to world-class analytical expertise and capabilities. The above-mentioned factors are significantly driving market growth.
In 2012, the pharmaceutical industry spent a total of 136 billion dollars. It spent 186 billion dollars on research and development in 2019. According to PhRMA, member companies' R&D investment totaled 83 billion U.S. dollars in 2019, making the biopharmaceutical industry the most R&D-intensive industry in the U.S. economy. The biopharmaceutical industry invests six times more in R&D than all other manufacturing sectors combined. PhRMA member companies have invested nearly USD 1 trillion in discovering and developing new and improved drugs and cures over the last few decades. Usually, during the pre-clinical phase, the regulatory authority oversees, controls, and eventually authorizes the drugs. Major pharmaceutical research and development advances have begun to alter the R&D landscape in recent years.
Rising demand for bioanalytical testing services is one of the major factors driving market growth due to its benefits, such as utility in controlling drug development costs and effectively evaluating the therapeutic entity, resulting in a cost-effective drug development cycle. The healthcare analytical testing services market is expected to grow significantly during the forecast period, owing to the increasing utility of these services in ensuring the quality of pharmaceuticals and biopharmaceuticals before release for sale, supply, or export. These are the factors which helps to grow the market.
Opportunities
Analytical testing establishes the physicochemical characterization to prove the "sameness" of the biosimilar to the reference molecule throughout the biosimilar development process. As a result, demand for healthcare analytical testing services is expected to increase in the coming years. For instance, in July 2021, Pfizer was working on 96 biosimilars in a different phase. The company is an industry leader in biosimilars and based in the United States, contributing to the region's growth.
Restraints/Challenges
High cost of healthcare analytical testing services and the low adoption rate in emerging and underdeveloped countries will obstruct the market's growth rate. Assays due to high maintenance and instrument costs, stringent regulations on reagent usage and lack of skilled professionals are some key factors expected to hamper growth of the healthcare analytical testing services.
This healthcare analytical testing services market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the healthcare analytical testing services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
The COVID-19 pandemic had a major impact on the global economy and business operations. The COVID-19 pandemic has presented new challenges to the bioanalytical community. The pandemic's impact on business practices, supply chains, timelines, and project prioritization is still being felt across the industry one year later. Because of travel and personnel constraints, laboratories have modified their day-to-day lab operations and clinical trial procedures. Because supply chains have been disrupted, the availability of lab consumables, reagents, personal protective equipment (PPE), and biological matrices has decreased. COVID-19 clinical trials have a broader range of analytical requirements than traditional therapeutic candidates, as each therapeutic may necessitate pharmacokinetic, immunogenicity, biomarker, SARS-CoV-2 antigen, and serological testing.
Recent developments
• In April 2021, SGS SA completed the acquisition of SYNLAB Analytics, a pharmaceutical, food, and environmental testing service provider. As a result of this acquisition, SGS gained over 37 laboratories, with the primary goal of expanding its analytical testing capabilities in pharmaceutical, environmental, and food testing.
• In April 2021, Charles River Laboratories announced the acquisition of Retrogenix Ltd., which provides cell microarray services, air sampling, and quality, to expand its early-stage contract research organization offerings.
The healthcare analytical testing services market is segmented on the basis of type, usage, end-user and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
End User
The healthcare analytical testing services market is analyzed and market size insights and trends are provided by country, type, usage, end-user and application as referenced above.
The countries covered in the healthcare analytical testing services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the healthcare analytical testing services market because of technological advances and increased demand for healthcare testing services. Furthermore, biopharmaceutical companies are focusing their investments on the U.S. market due to the rapidly growing healthcare sector and favourable regulatory reforms.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 because of increased investments by companies from developed economies in improving regional analytical services, regulatory body amendments to change evaluation standards to align with global standards, and the establishment of new facilities and alliances to expand the reach of their offerings to various locations in the region.
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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The healthcare analytical testing services market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for healthcare analytical testing services market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the healthcare analytical testing services market. The data is available for historic period 2010-2020.
The healthcare analytical testing 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to healthcare analytical testing services market.
Some of the major players operating in the healthcare analytical testing services market are:
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Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.