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Healthcare Analytical Testing Services Market Size Worth $11.9 Billion by 2028; CAGR of 11.6% | Reports And Data

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New York, March 08, 2021 (GLOBE NEWSWIRE) — The surging focus of pharmaceutical and biopharmaceutical companies on the outsourcing of analytical testing services fuels the global market growth Market Size – USD 5.2 billion in 2020, Market Growth – at a CAGR of 11.6%, Market Trends – The rising number of clinical trials worldwideThe global healthcare analytical testing services market size is expected to reach USD 11.9 billion by 2028 at a CAGR of 11.6%, according to a new report by Reports and Data. The rising focus of pharmaceutical and biopharmaceutical companies on outsourcing healthcare analytical testing services, the emergence of contract research organizations (CROs), and the increasing adoption of the quality-by-design (QbD) approach are among the pivotal factors accountable for the growth of the global healthcare analytical testing services market.Request free sample of this research report at: https://www.reportsanddata.com/sample-enquiry-form/3843Analytical testing services play a significant role in the healthcare industry as they help simplify the drug manufacturing processes, enhance patient outcomes, reduce the process validation time, and decrease the overall manufacturing expenditure. These services facilitate the end-to-end stages of drug discovery and drug development. These services also help streamline the clinical trials of various drugs and facilitate their commercial launch. Moreover, healthcare analytical testing services provide deep insights into drug manufacturing processes, disease diagnosis, patient records, and hospital management. The market growth is further stimulated by the rapidly booming biopharmaceutical industry, rising adoption of specialized testing services for the development of biologics and biosimilars, and the surging number of clinical trials. However, some unfavorable factors, such as the lack of technical expertise among many healthcare professionals and data security risks associated with the use of healthcare analytical testing services, are expected to impede the market growth.Healthcare Analytical Testing Services Market, By Type (Bioanalytical testing services, method development & validation services, raw material testing services, physical characterization services, stability testing, batch-release testing services, environmental monitoring services, microbial testing services), By End-user (Pharmaceutical & biopharmaceutical companies, medical device companies, contract research organizations), and By Region, Forecast to 2028; To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/healthcare-analytical-testing-services-market
Key Highlights of the Report:Based on type, the batch-release testing segment is estimated to register the fastest growth rate over the projected period. Besides, the dissolution testing services sub-segment under the batch-release testing services segment is expected to lead the market with the highest revenue share. The batch-release testing services ensure the product complies with each of the regulatory specifications and that the highest-quality products are released for distribution and sales.  The pharmaceutical & biopharmaceutical companies end-user segment is poised to emerge as the leading market segment in the coming years, with the largest market share. The rising adoption of analytical testing services by these companies for drug discovery & development processes and clinical trials is a key driving factor for this segment.The healthcare analytical testing services market in North America is set to emerge as the leading regional market over the forecast timeframe, accounting for the highest revenue share. The presence of leading pharmaceutical companies in North America and higher R&D investments in the healthcare sector boost the region’s market growth.Key market players in the global healthcare analytical testing services market.
Merck KGAAAlmac GroupEurofins ScientificElement Materials TechnologyLabCorp, Syneos HealthMedpace HoldingsWuXi PharmaTechFrontage LabsCharles River LaboratoriesPace AnalyticalIntertekSource BioSciencePRA Health SciencesSTERIS PLCLGC LimitedOrder Now: https://www.reportsanddata.com/checkout-form/3843
For the purpose of this report, the global healthcare analytical testing services market has been segmented based on type, end-user, and region:
By Type (Revenue, USD Billion; 2018-2028)Bioanalytical Testing ServicesImmunogenicity & Neutralizing Antibody TestingCell-based AssaysVirology TestingPharmacokinetic TestingBiomarker TestingOthersMethod Development & Validation ServicesExtractable & Leachable Method Development & ValidationStability-indicating Method ValidationProcess Impurity Method Development & ValidationAnalytical Standard CharacterizationCleaning ValidationTechnical ConsultingOthersPhysical Characterization ServicesLaser Particle Size AnalysisThermal AnalysisSurface Area AnalysisImage AnalysisOthersBatch-release Testing ServicesDissolution TestingDisintegration TestingElemental Impurity TestingHardness TestingFriability TestingOthersRaw Material Testing ServicesComplete Compendia TestingHeavy Metal TestingContainer TestingKarl Fischer AnalysisWet Chemistry AnalysisOther Raw Material Testing ServicesEnvironmental Monitoring ServicesAir TestingWastewater/ETP TestingOthersMicrobial Testing ServicesMicrobial Limit TestingPreservative Efficacy TestingEndotoxin TestingSterility TestingWater TestingOthersStability TestingFormulation Evaluation Stability TestingAccelerated Stability TestingDrug Substance Stability TestingPhotostability TestingComparative Stability TestingOthersBy End-user (Revenue, USD Billion; 2018-2028)Pharmaceutical & Biopharmaceutical CompaniesContract Research OrganizationsMedical Device CompaniesBy Region (Revenue, USD Billion; 2018-2028)North AmericaU.S.CanadaEuropeGermanyU.K.FranceBENELUXRest of EuropeAsia PacificChinaJapanIndiaSouth KoreaRest of the Asia PacificLatin AmericaBrazilRest of Latin AmericaMiddle East & AfricaSaudi ArabiaUAERest of the Middle East & AfricaBrowse similar research reports:
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