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The Healthcare Analytical Testing Services Market Size was valued at USD 14.1 billion in 2023, and is expected to reach USD 26.88 billion by 2031, and grow at a CAGR of 8.4% over the forecast period 2024-2031.
Pharmaceutical, biopharmaceutical, and medical device companies frequently use healthcare analytical testing services to help their drug development efforts at all stages. The services can help with medication development from invention to medical development and clinical trials to commercialization.
The increasing outsourcing of analytical testing by pharmaceutical companies, the increased focus on analytical testing of biologics and biosimilars, and the growing acceptance of the quality-by-design approach in pharma research and manufacturing are some of the factors driving the growth of the healthcare analytical testing services market. The rising demand for specialized analytical testing services, on either hand, will create many chances for the healthcare analytical testing services market to expand over the forecast period.
During the forecast period, a scarcity of skilled individuals may limit the growth of the healthcare analytical testing services market. The need to improve the sensitivity of bioanalytical methods, on the other hand, would pose a hurdle to the expansion of the healthcare analytical testing services market.
DRIVERS
Analytical testing
Early Stage development Efforts
RESTRAINTS
Lack of skilled professionals
The pharmaceutical industry's shift toward new molecular structures
OPPORTUNITIES
Emerging Market
Innovative formulations and medical gadgets have unique requirements.
CHALLENGES
Pharmaceutical firms of various sizes have varied requirements.
Variety of analytical techniques for evaluating novel drug compounds
There is an ongoing slowdown in the healthcare business due to the global epidemic of COVID-19 and the mandated lockout. COVID-19 was similarly terrible for major world economies, particularly the healthcare industry, aside from communities. Major parties are still adapting their strategies to the quickly shifting scenario. Coronavirus is supposed to have long haul ramifications for the medical services industries. Until the crisis passes, countries and important players would have to make significant healthcare changes.
Technological advancements, cost containment, and expanded access will all be part of healthcare reform in the near future. In the present pandemic, digital health and telemedicine have taken center stage. The need of diagnostic testing, care, and consultation was stressed again at COVID-19. Telehealth development has slowed down lately because of administrative and social imperatives. Not with standing, in light of the fact that numerous medical care suppliers are as of now exploring different avenues regarding video conferencing and calls, this fragment's development will soar in the following two years.
Patients with moderate symptoms were also required to consult online under the interpersonal distancing measures. Furthermore, it significantly lessens the load on hospitals already overburdened by COVID-19 patient counts. Medical IoT devices that live with patients at home are now being utilized to improve intensive therapy and reduce recurrent visits, and these devices can even be employed in an emergency. The pandemic put considerable strain on resources. This is projected to lead to the establishment of competitive pricing and value-based pricing structures, accelerating future market growth. COVID-19 is projected to have a substantial impact on the market for health analytical testing services, given these factors.
By type
Stability testing, batch-release testing, raw material testing, microbiological testing, and environmental monitoring are some of the services we provide. The bioanalytical testing services sector will hold the biggest market share. The high proportion of this market can be attributed to their effectiveness in lowering drug development costs by successfully analyzing therapeutic entities across the drug development cycle. The market for bioanalytical testing services is being driven by the time restrictions and excessive costs of drug discovery and development in biopharmaceutical research.
By End User
Pharmaceutical and biopharmaceutical firms, medical device companies, and contract research organizations (CROs) make up the healthcare analytical testing services industry. The growing outsourcing of analytical testing services by major organizations to enhance profit margins, minimize excessive capital expenditure, and focus on their core business strengths is responsible for a considerable proportion of this category.
North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa make up the healthcare analytical testing services market. North America held the greatest share of the market for healthcare analytical testing services. This regional segment's substantial share can be ascribed to the presence of a well-established foundation of pharmaceutical and biopharmaceutical companies, strong investments in the biosimilars and biologics segment and increasing R&D expenditure are all factors in this region's large stake.
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The major players are PPD, Inc., Syneos Health, Intertek Group, LabCorp, ICON plc, Toxikon, Inc., Pace Analytical Services, LLC, Charles River Laboratories International, Inc., Eurofins Scientific, SGS SA, and Other players.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 14.1 Billion |
| Market Size by 2031 | US$ 26.88 Billion |
| CAGR | CAGR of 8.4% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Raw Material Testing Services, Bio analytical testing services, Physical Characterization Services, Batch- release Testing Services, Environmental Monitoring Services, Microbial Testing) • By End User (Contract Research Organizations, Medical Device Companies, Pharmaceutical and Biopharmaceutical Companies) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | PPD, Inc., Syneos Health, Intertek Group, LabCorp, ICON plc, Toxikon, Inc., Pace Analytical Services, LLC, Charles River Laboratories International, Inc., Eurofins Scientific, SGS SA |
| DRIVERS | • Analytical testing • Early Stage development Efforts |
| Restraints | • Lack of skilled professionals • The pharmaceutical industry's shift toward new molecular structures |
Ans: The Healthcare Analytical Testing Services Market Size was valued at USD 14.1 billion in 2023.
Ans: The Healthcare Analytical Testing Services market is to grow at a CAGR of 8.4% over the forecast period 2024-2031.
North America held the greatest share of the market for healthcare analytical testing services.
Analytical testing, Early-Stage Development Efforts, are all propelling the Healthcare Analytical Testing Services market forward.
The lack of skilled professionals and the pharmaceutical industry's shift toward new molecular structures are the main restraints of the Healthcare Analytical Testing Services market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Healthcare Analytical Testing Services Market Segmentation, By type
8.1 Raw Material Testing Services
8.2 Bioanalytical testing services
8.3 Physical Characterization Services
8.5 Batch- release Testing Services
8.6 Environmental Monitoring Services
8.7 Microbial Testing
9. Healthcare Analytical Testing Services Market Segmentation, by End User
9.1 Contract Research Organizations
9.2 Medical Device Companies
9.3 Pharmaceutical and Biopharmaceutical Companies
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11. Company Profiles
11.1 PPD, Inc.
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Syneos Health
11.3 Intertek Group
11.4 LabCorp
11.5 ICON plc
11.6 Toxikon, Inc.
11.7 Pace Analytical Services, LLC
11.8 Charles River Laboratories International, Inc.
11.9 Eurofins Scientific
11.10 SGS SA.
12. Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share Analysis
12.3 Recent Developments
13. Conclusion
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By Type
Raw Material Testing Services
Bioanalytical testing services
Physical Characterization Services
Batch-release Testing Services
Environmental Monitoring Services
Microbial Testing
By End-User
Contract Research Organizations
Medical Device Companies
Pharmaceutical and Biopharmaceutical Companies
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REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
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