LONDON--(BUSINESS WIRE)--The biopharmaceutical analytical testing services market is poised to grow by USD 1.18 billion during 2020-2024, progressing at a CAGR of over 9% during the forecast period. Request free sample pages
Read the 120-page report with TOC on "Biopharmaceutical Analytical Testing Services Market Analysis Report by End-user (Pharma and biotech companies and CROs), by Geographic segmentation (North America, APAC, Europe, South America and MEA), and the Segment Forecasts, 2020-2024".
The market is driven by the increase in number of patent-expired drugs. In addition, the increasing outsourcing of analytical testing services is anticipated to boost the growth of the biopharmaceutical analytical testing services market.
Only original manufacturers can produce and sell their drugs, while they are still under the patent protection period. The patents of several drugs are expected to expire during the forecast period. However, if the manufacturers submit abbreviated new drug application (ANDA) for patent-expired drugs, the generic versions of patent-expired drugs and biosimilars can be approved by the FDA. This is leading to an increase in the production of biosimilars. Biosimilars are not chemically synthesized as generic products but are similar to generic products. They are produced from living cells in laboratories and differ in complexity. The demand for biopharmaceutical analytical testing services is increasing because they are used in several steps of the production of biosimilars. Thus, the increase in number of patent-expired drugs is expected to drive market growth during the forecast period.
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Major Five Biopharmaceutical Analytical Testing Services Market Companies:
Boston Analytical operates the business under various segments such as Analytical Development and Validation, Analytical Testing, Microbiology Testing, Extractables and Leachables, Protein Chemistry, and Stability and Storage. The company offers analytical testing, which includes dissolution, testing, in-process and lot release testing, elemental impurities, and raw material testing.
Catalent Inc. offers products through the following business units: Softgel technologies, Biologics and Specialty Drug Delivery, Oral Drug Delivery, and Clinical supply services. The company offers Characterization or investigational testing and Release Testing.
Charles River Laboratories International Inc.
Charles River Laboratories International Inc. operates under various business segments, namely RMS, DSA, and Manufacturing. The company provides stability studies for biopharmaceutical products under various environmental conditions within a timeframe.
Eurofins Scientific provides a unique range of analytical testing services to clients across multiple industries. The company offers Stability testing, which is used to demonstrate the short and long-term stability of drugs.
Intertek Group PLC
Intertek Group PLC offers products through the following business segments: Products, Trade, and Resources. The company offers Analytical Laboratories, which provides independent analytical services at its own laboratories.
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Biopharmaceutical Analytical Testing Services Market End-user Outlook (Revenue, USD Billion, 2020-2024)
- Pharma and biotech companies
Biopharmaceutical Analytical Testing Services Market Geographic segmentation Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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