DUBLIN--(BUSINESS WIRE)--The "Healthcare Analytical Testing Services Market by Type (Method Validation, Environmental Monitoring, Bioanalytical Services, Stability, Raw Materials, & Microbial Testing), End User (Pharmaceutical, Medical Device Companies) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global healthcare analytical testing services market is projected to reach USD 5.97 Billion by 2023 from USD 3.43 Billion in 2018, at a CAGR of 11.7%.
The shift of focus towards analytical testing of biologics and biosimilars, increasing outsourcing of analytical testing by pharmaceutical companies, increasing acceptance of the QbD approach in pharma research/manufacturing, and adoption of FTE contracts in R&D outsourcing are the major factors driving the growth of the healthcare analytical testing services market.
On the basis of type, the bioanalytical testing segment accounted for the largest share of the global healthcare analytical testing services market in 2017. The large share of this segment is due to increasing number of drugs in the biopharmaceutical pipeline and the growing biopharmaceutical industry.
Eurofins Scientific (Luxembourg) held the leading position in the global healthcare analytical testing services market in 2017. In order to remain competitive in the global market, the company focuses on inorganic and organic growth strategies such as acquisitions and expansions. Eurofins acquired as many as 14 other players in the market from 2014-2017.
In October 2017, the positive company-wide M&A developments and a good performance in the first nine months of 2017 prompted the company to bring forward its EUR 4 Billion 2020 revenue objective by a year. The company's ability to execute on its mid-term plan reflects the benefits of both past and ongoing investments.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Insights
7 Healthcare Analytical Testing Services Market, By Type
8 Healthcare Analytical Testing Services Market, By End-User
9 Healthcare Analytical Testing Services Market, By Region
10 Competitive Landscape
11 Company Profiles
- Charles River
- Eurofins Scientific
- MPI Research
- Merck KGaA
- Pace Analytical
- Pharmaceutical Product Development LLC (PPD)
- Source Bioscience
- Wuxi Pharmatech
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