Healthcare Analytical Testing Services Market by Type (Bioanalytical Testing Services, Method Development and Validation Services, Physical Characterization Services, Raw Material Testing Services, Batch-release Testing Services, Stability Testing, Microbial Testing Services, and Environmental Monitoring Services), and End User (Pharmaceutical and Biopharmaceutical Companies, Medical Device Companies, and Contract Research Organizations): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00027039 | Pages: 100 | Industry: Healthcare IT | Date: Oct 2022 | Type: Global

The market crossed US$ 7.19 billion mark in 2022 and is expected to hit US$ 15.42 billion by 2030, recording a CAGR of 10.0% during the forecast period.  

The Healthcare analytical testing services market has been significantly growing with the increasing outsourcing of analytical testing.

Rising demand for bioanalytical testing services due to its advantages, such as utility in controlling the cost of drug development and effectively evaluating the therapeutic entity leading to a cost-effective drug development cycle, is one of the major factors driving the market growth. With the increasing utility of these services in ensuring the quality of pharmaceuticals and biopharmaceuticals before release for sale, supply, or export, the healthcare analytical testing services market is expected to witness significant growth during the forecast period. Further, other segment such as batch-release testing services is also expected to gain traction during the forecasted year.

Within the report, the healthcare analytical testing services market is segmented into type, end user, and geography. By type, the market is further segmented into bioanalytical testing services, physical characterization services, method development and validation services, raw material testing services, batch-release testing services, stability testing, microbial testing services, and environmental monitoring services. On the basis of end users, the healthcare analytical testing services market is segmented into pharmaceutical & biopharmaceutical companies, medical device companies, and contract research organizations. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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The development of new products empowered the growth of the market.

The rise in the development and innovations of new products is directly boosting the demand for healthcare analytical testing services. Pricing concerns, lead time to market, and competitive pressure are other signioficant factors leading to an increase in outsourcing of these services. The development of biosimilars, combination products, and other innovative medicines has increased the demand for specific types of tests. Further, with mergers and acquisitions, the market is expected to grow in the coming years. For instance, in September 2022, Bureau Veritas, a world leader in testing, inspection and certification, announced the acquisition of Galbraith Laboratories Inc., an expert in advanced analytical solutions in North America.

Rising adoption in various industries is one of the major factors accelerating market growth.

The pharmaceutical, biopharmaceutical, medical device, and contract research organizations use the healthcare analytical testing service market and directly contribute to the market growth. Within these industries, the biopharmaceutical industry is one such industry, wherein healthcare analytical testing services are increasing, avoiding high capital expenditure, and focusing on their core business competencies. The pharmaceutical industry is also encouraging the use of outsourcing these services.

Recent strategic developments in the healthcare analytical testing services market

The healthcare analytical testing services market has undergone several significant developments, and a few of these have been mentioned below:

  • In June 2021, WuXi AppTec announced opening a new pharmaceutical manufacturing campus in Delaware, US.
  • In April 2021, SGS S.A. announced the acquisition of SYNLABS Analytics & Services to strengthen SGS’ presence in Northwestern Europe, especially in Germany, Benelux, and the Nordic countries.
  • In April 2021, Charles River Laboratories announced the acquisition of Retrogenix Ltd., which provides air sampling and quality and offers cell microarray services, to boost its early-stage contract research organization offerings.

The healthcare analytical testing services market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Eurofins Scientific; Syneos Health; PPD Inc.; ICON plc.; Charles River Laboratories; SGS; Pace Analytical Services, LLC; Intertek; Merck KGAA; AND Source BioScience are among the prominent players operating in the healthcare analytical testing services market.

Target audience for the report:

  • Testing agents’ manufacturers
  • Analytical Instruments providers
  • Equipment providers
  • Instruments and equipment related service providers
  • Biopharmaceutical associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • End users of analytical testing services
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Bioanalytical Testing Services
    • Physical Characterization Services
    • Method Development and Validation Services
    • Raw Material Testing Services
    • Batch-release Testing Services
    • Stability Testing
    • Microbial Testing Services
    • Environmental Monitoring Services
  • End User
    • Pharmaceutical and Biopharmaceutical Companies
    • Medical Device Companies
    • Contract Research Organizations
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Eurofins Scientific
    • Syneos Health
    • PPD Inc.
    • ICON plc.
    • Charles River Laboratories
    • SGS
    • Pace Analytical Services, LLC
    • Intertek
    • Merck KGAA
    • Source BioScience

The List of Companies
- Eurofins Scientific
- Syneos Health
- PPD Inc.
- ICON plc.
- Charles River Laboratories
- Pace Analytical Services, LLC
- Intertek
- Merck KGAA
- Source BioScience

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