Global Healthcare Analytical Testing Services Market: Overview
The global healthcare analytical testing services market has gathered pace in its growth due to the enormous demand for research and development outsourcing. Healthcare analytical testing services are extensively used by biopharmaceutical, pharmaceutical, and medical device manufacturers to support throughout the stages of their drug development. This service provides support in the process of drug development started from discovery through clinical development or clinical trials to commercial use.
An upcoming report on the global healthcare analytical testing services by Transparency Market Research promises to be a crucial source of information for stakeholders looking to strengthen their foothold in the market. The report would enable them to gain proper insight into the growth drivers and restraints. The exhaustive information in the report would unravel the opportunities and pitfalls in the market. The report runs through multiple standpoints such as trends, competitive landscape, product, application, and regional segments to understand if the global healthcare analytical testing services market holds out solid promise.
Global Healthcare Analytical Testing Services Market: Key Trends
Increasing analytical testing rate of biosimilar and biologics, rising outsourcing of analytical testing by several pharmaceutical companies, and growing acceptance of Quality by design (QbD) approach in pharma manufacturing are believed to be driving the global healthcare analytical testing services market. QbD helps various pharmaceutical companies in adopting data-driven, systemic strategies in order to deliver quality outcomes. Many biotechnology and pharmaceutical companies are opting for outsourcing analytical testing services for reducing the time and cost of the manufacturing process. Thus, rising adoption of FTE contracts in research and development outsourcing also expected to boost the global healthcare analytical testing services market.
Furthermore, the demand for bioanalytical testing is rising due to the growing number of drugs in biopharmaceutical pipeline, and rising biopharmaceutical industry across the world, which in turn is also expected to fuel the global healthcare analytical testing services market. Apart from all these, rising analytical testing service outsourcing by biopharmaceutical companies for boosting their profit margins, reducing the required time for validating the product and process, and avoiding high capital expenditure are also projected to propel the global healthcare analytical testing services market.
Global Healthcare Analytical Testing Services Market: Regional Outlook
Region wise, North America is expected to lead the global healthcare analytical testing services market as the region has witnessed rapid industrialization. Rapid establishment of pharmaceutical industry, rising number of analytical testing service providers, growing generics and biosimilar market could also be responsible for fueling the healthcare analytical testing services market in the region. Other prominent regions in the healthcare analytical testing services market are APAC, Europe, and the Middle East and Africa. Increasing outsourcing by biopharmaceutical companies are expected to boost the healthcare analytical testing services market in these regions.
Global Healthcare Analytical Testing Services Market: Competitive Dynamics
Some of the prominent players operating in the global healthcare analytical testing services market are Wuxi PharmaTech, PPD, Intertek Group, Anabiotec, Charles River Laboratories, Exova Group, and Almac Group. The upcoming report studies their product portfolios, key strategies, and sales and revenues in the near term.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.