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Healthcare Analytical Testing Services Market Trends [2031]
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Healthcare Analytical Testing Services Market Trends [2031]

Segments - Healthcare Analytical Testing Services Market by Product Types (Pharmaceutical Analytical Testing Services [Stability Testing, Bioanalytical Testing, Method Development & Validation, and Other Testing Services] and Medical Devices Analytical Testing Services [Sterility Testing, Physical Testing, Extractable & Leachable, Bioburden Testing, Material Characterization, and Other Tests]) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

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Author : Raksha Sharma
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Fact-checked by : V. Chandola
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Editor : Vishal Golekar

Upcoming | Report ID :HC-3627 | 4.8 Rating | 69 Reviews | 187 Pages | Format : PDF Excel PPT

Report Description


The global healthcare analytical testing services market size was valued at USD 12.41 billion in 2021 and is projected to reach USD 23.95 billion by 2028, expanding at a CAGR of 9.5% during the forecast period, 2021-2028. The growth of the market is attributed to the rising number of clinical trials and increasing demand of biosimilar drugs.

Healthcare Analytical Testing Services Market Key Takeaways

Healthcare analytical testing services are mostly used by medical device manufacturing, pharmaceutical, and biotechnology industries to assist through the every stages of drug discovery and development. This service offers support in operations of drug development that are initiated from the drug discovery through clinical trials until the commercial use of drug by the consumers. The key purpose of carrying out the healthcare analytics is to get proper awareness and data about diagnosis of diseases, administration of hospitals, and patient records. The information get through this data analytics service is used to design the process and to get data for the growth of the healthcare sector. These services also offer their benefits in biosimilar drug development by determining the physicochemical characterization, which detect the sameness of the reference molecule with developed biosimilar drug.

The COVID-19 pandemic had significant impact on the market. During the pandemic, the lockdown imposed by government bodies across the globe resulted in suspended enrolment in most ongoing clinical studies and delays in starting new clinical trials by leading market players in the pharmaceutical industry, which hampered the demand of these services. However, the demand for COVID-19 testing, treatment, and vaccine development has risen, which increased the demand for healthcare analytical testing services.

  • Increasing outsourcing of analytical testing by biotech and pharmaceutical companies is one of the key factors driving the market growth.
  • Growing demand for analytical testing of medical and pharmaceutical devices owing to their complexities is projected to boost the market during the forecast period.
  • Lack of experienced and skilled professionals acts as a major challenge that can restrict the market growth in the coming years.
  • High cost associated with analytical testing services is expected to hamper the market growth during the projected timeline.
  • Rising number of service providers in emerging economies is anticipated to create significant growth opportunities for the market.

Scope of the Report

The report on the global healthcare analytical testing services market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Healthcare Analytical Testing Services Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Product Types (Pharmaceutical Analytical Testing Services [Stability Testing, Bioanalytical Testing, Method Development & Validation, and Other Testing Services] and Medical Devices Analytical Testing Services [Sterility Testing, Physical Testing, Extractable & Leachable, Bioburden Testing, Material Characterization, and Other Tests])

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

ICON plc; Charles River Laboratories International, Inc.; SGS SA; Toxikon, Inc.; Pace Analytical Services, LLC; PPD, Inc.; LabCorp; Syneos Health; Eurofins Scientific; and Intertek Group plc

Market Segment Insights

Outsourcing drives the pharmaceutical analytical testing services segment

Based on product types, the market is bifurcated into pharmaceutical analytical testing services and medical devices analytical testing services. The pharmaceutical analytical testing services segment is further divided into stability testing, bioanalytical testing, method development & validation, and other testing services. The medical devices analytical testing services segment is sub-classified as sterility testing, physical testing, extractable & leachable, bioburden testing, material characterization, and other tests. The pharmaceutical analytical testing services segment is estimated to expand at robust growth rate during the forecast period due to the increased outsourcing of analytical testing by pharmaceutical companies. However, the medical devices analytical testing services segment is anticipated to expand at a substantial CAGR during the forecast period owing to the rising regulatory pressure for more detailed chemical analysis of medical devices.

North America to constitute a key market share

In terms of region, the global healthcare analytical testing services market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period owing to the increased demand of analytical testing services as several pharmaceutical companies are present in the region. However, the market of Asia Pacific is anticipated to grow at a rapid pace during the forecast period due to the growing healthcare expenditure and rising government funding for drug discovery and development in the region. Moreover, expansion of biosimilar drugs market is driving the regional growth further.

Healthcare Analytical Testing Services Market By Regions

Segments

Segments Covered in the Report
The global healthcare analytical testing services market has been segmented on the basis of

Product Types
  • Pharmaceutical Analytical Testing Services
    • Stability Testing
    • Bioanalytical Testing
    • Method Development & Validation
    • Other Testing Services
  • Medical Devices Analytical Testing Services
    • Sterility Testing
    • Physical Testing
    • Extractable & Leachable
    • Bioburden Testing
    • Material Characterization
    • Other Tests
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • ICON plc
  • Charles River Laboratories International, Inc.
  • SGS SA
  • Toxikon, Inc.
  • Pace Analytical Services, LLC
  • PPD, Inc.
  • LabCorp
  • Syneos Health
  • Eurofins Scientific
  • Intertek Group plc

Competitive Landscape

Key players competing in the global healthcare analytical testing services market are ICON plc; Charles River Laboratories International, Inc.; SGS SA; Toxikon, Inc.; Pace Analytical Services, LLC; PPD, Inc.; LabCorp; Syneos Health; Eurofins Scientific; and Intertek Group plc. Companies are focusing on providing assay validations, various types of services, and other laboratory solutions to maintain their competitive position in the market. Companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers.

For instance, in January 2020, LabCorp a US based clinical laboratory’s Covance, a drug development business, launched preclinical, clinical, and post-approval gene and cell therapy development solutions. In August 2020, PPD, Inc. a US based contract research organization signed a three year contract with Pfizer, Inc. a US based Pharmaceutical and Biotechnology Corporation. The contract was to provide services to advance Pfizer’s drug development group. PPD is projected to provide laboratory services and clinical development to Pfizer, supporting its drug development initiatives across various therapeutic regions.

Healthcare Analytical Testing Services Market By Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Healthcare Analytical Testing Services Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Healthcare Analytical Testing Services Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Healthcare Analytical Testing Services Market - Supply Chain
  4.5. Global Healthcare Analytical Testing Services Market Forecast
     4.5.1. Healthcare Analytical Testing Services Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Healthcare Analytical Testing Services Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Healthcare Analytical Testing Services Market Absolute $ Opportunity
5. Global Healthcare Analytical Testing Services Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Healthcare Analytical Testing Services Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Healthcare Analytical Testing Services Demand Share Forecast, 2019-2026
6. North America Healthcare Analytical Testing Services Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Healthcare Analytical Testing Services Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Healthcare Analytical Testing Services Demand Share Forecast, 2019-2026
7. Latin America Healthcare Analytical Testing Services Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Healthcare Analytical Testing Services Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Healthcare Analytical Testing Services Demand Share Forecast, 2019-2026
8. Europe Healthcare Analytical Testing Services Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Healthcare Analytical Testing Services Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Healthcare Analytical Testing Services Demand Share Forecast, 2019-2026
9. Asia Pacific Healthcare Analytical Testing Services Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Healthcare Analytical Testing Services Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Healthcare Analytical Testing Services Demand Share Forecast, 2019-2026
10. Middle East & Africa Healthcare Analytical Testing Services Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Healthcare Analytical Testing Services Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Healthcare Analytical Testing Services Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Healthcare Analytical Testing Services Market: Market Share Analysis
  11.2. Healthcare Analytical Testing Services Distributors and Customers
  11.3. Healthcare Analytical Testing Services Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. ICON plc Charles River Laboratories International, Inc. SGS SA Toxikon, Inc. Pace Analytical Services, LLC PPD, Inc.  

Methodology

Our Clients

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General Electric
Pfizer
Nestle SA
Microsoft