DUBLIN--(BUSINESS WIRE)--The "Healthcare Analytical Testing Services Market by Type (Method Development & Validation, Cell-Based Assays, Stability Testing, Heavy Metal Testing, Image Analysis, Virology Testing) & End User (Pharmaceuticals, Medical Devices) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global healthcare analytical testing services market size is projected to reach USD 8.4 billion by 2025 from USD 4.9 billion in 2020, at a CAGR of 11.4% during the forecast period.
Market growth is attributed to the shift of focus towards the 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 the adoption of FTE contracts in R&D outsourcing.
By type, within the bioanalytical testing services segment, cell-based assay services hold the largest share in the forecast period.
Based on type, the healthcare analytical testing services market has been segmented into bioanalytical testing services, physical characterization services, method development & validation services, raw material testing services, and batch-release testing services, among others. Bioanalytical testing services accounted for the largest share of the market in 2019. Within this segment, the cell-based assay services segment is expected to grow at the highest CAGR. This is due to their ability to provide relevant in vivo biological information in comparison to biochemical assays.
By end-user, the medical device companies segment is expected to grow at the fastest rate during the forecast period (2020-2025).
Based on End User, the healthcare analytical testing services market has been segmented into pharmaceutical & biopharmaceutical companies, medical device companies, and CROs. The medical device companies segment is expected to grow at the highest CAGR due to increasing demand by OEMs for more services and expertise, an evolving regulatory scenario, technological advancements in medical devices, and the adoption of POC testing.
North America to hold the largest share.
North America is expected to account for the largest share of the global healthcare analytical testing services market in 2019. The large share of this region can primarily be attributed to the presence of a well-established base of pharmaceutical and biopharmaceutical companies, high investments in the biosimilars and biologics segment, and increasing R&D expenditure. On the other hand, the APAC is expected to witness the highest CAGR during the forecast period due to a large number of qualified researchers, low cost of operations in APAC countries, presence of a large treatment-nave population, retention of participants in clinical trials, and continuously improving regulatory procedures.
- Focus on Analytical Testing of Biologics & Biosimilars
- Increasing Outsourcing of Analytical Testing by Pharmaceutical Companies
- Increasing Number of Clinical Trials
- Rising Acceptance of the Quality-By-Design Approach in Pharma Research and Manufacturing
- Shortage of Skilled Professionals
- Specialized Testing
- Emerging Markets
- Specific Requirements of Innovative Formulations and Medical Devices
- Need to Improve the Sensitivity of Bioanalytical Methods
- Eurofins Scientific
- Charles River Laboratories
- Wuxi Pharmatech
- Element Materials Technology
- Pace Analytical
- Merck Kgaa
- Source Bioscience
- Almac Group
- Frontage Labs
- Steris Plc
- Pra Health Sciences
- Syneos Health
- Lgc Limited
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