Healthcare Analytical Testing Services Market Trends, Size, Segment and Industry Growth by Forecast to 2028

The rising need to outsource analytical testing services for decreased manufacturing costs and augmented operational efficiency is a key market growth driver

NEW YORK, NY, UNITED STATES, March 30, 2022 /EINPresswire.com/ -- The global healthcare analytical testing services market size is expected to reach USD 11.9 billion by 2028 at a CAGR of 11.6%, according to a new report by Reports and Data. The global market growth is significantly accelerated by the rising need for outsourcing healthcare analytical testing services, the growing number of contract research organizations, increasing clinical trials being performed worldwide, and the surging adoption of the quality-by-design approach among pharmaceutical companies. Pharmaceutical and biopharmaceutical companies worldwide are outsource healthcare analytical testing services to streamline drug manufacturing processes, ease the end-to-end stages of drug discovery, reduce their capital expenditure, and raise profit margins. Healthcare analytical testing services are also leveraged by these companies to reduce the time required for process validation, facilitate clinical trials and commercial launch of drugs, offer in-depth insights into patient records and hospital management, and improve patient outcomes. The significant rise of the biopharmaceutical sector, augmented focus on employing specialized testing services for biologics and biosimilars, and the growing development of biopharmaceutical drugs and products are further expected to propel the global healthcare analytical testing services market growth in the near future. However, the lack of technical expertise and skills and risks of user data breach associated with healthcare analytical testing services are specific factors expected to restrain the growth of this market in the upcoming years.

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Market Overview:

The pharmaceutical and healthcare industries are among the fastest-growing sectors, particularly during the Covid-19 pandemic. The industry is vital for its life-saving medical innovation that improves people's health and quality of life in a country. Rapid technological advancements, continued growth in the biologics field, and an increase in medication manufacture and distribution all contribute to the pharma and healthcare industries' enormous growth. Rapid technological advancements include Artificial Intelligence (AI), blockchain, virtual reality, additive manufacturing, medical imaging and other Industry 4.0 technologies is revolutionizing pharma and healthcare industry. Pharmaceutical firms create jobs in technical assistance, scientific research, and production, as well as develop drugs to improve health, eradicate diseases, and extend life expectancy.

Competitive Landscape:

The global Healthcare Analytical Testing Services market research report provides a competitive strategy analysis portfolios to provide a better understanding of the competitive landscape. The report further discusses in depth the business strategies undertaken by key manufacturers on mergers and acquisitions, joint ventures, and collaborations. It sheds light on the companies holding largest market share in terms of revenue in the global Healthcare Analytical Testing Services market.

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Key companies profiled in the report are:

Almac Group, LabCorp, Merck KGAA, Eurofins Scientific, Element Materials Technology, Syneos Health, WuXi PharmaTech, Pace Analytical, Frontage Labs, Medpace Holdings, Intertek, Source BioScience, PRA Health Sciences, STERIS PLC, LGC Limited, and Charles River Laboratories.

By Type (Revenue, USD Billion; 2018-2028)

Bioanalytical Testing Services
Immunogenicity & Neutralizing Antibody Testing
Cell-based Assays
Virology Testing
Pharmacokinetic Testing
Biomarker Testing
Others
Method Development & Validation Services
Extractable & Leachable Method Development & Validation
Stability-indicating Method Validation
Process Impurity Method Development & Validation
Analytical Standard Characterization
Cleaning Validation
Technical Consulting
Others
Physical Characterization Services
Laser Particle Size Analysis
Thermal Analysis
Surface Area Analysis
Image Analysis
Others
Batch-release Testing Services
Dissolution Testing
Disintegration Testing
Elemental Impurity Testing
Hardness Testing
Friability Testing
Others
Raw Material Testing Services
Complete Compendia Testing
Heavy Metal Testing
Container Testing
Karl Fischer Analysis
Wet Chemistry Analysis
Other Raw Material Testing Services
Environmental Monitoring Services
Air Testing
Wastewater/ETP Testing
Others
Microbial Testing Services
Microbial Limit Testing
Preservative Efficacy Testing
Endotoxin Testing
Sterility Testing
Water Testing
Others
Stability Testing
Formulation Evaluation Stability Testing
Accelerated Stability Testing
Drug Substance Stability Testing
Photostability Testing
Comparative Stability Testing
Others

By End-user (Revenue, USD Billion; 2018-2028)

Pharmaceutical & Biopharmaceutical Companies
Contract Research Organizations
Medical Device Companies

Regional analysis covers:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

In addition to corporate strategy, Healthcare Analytical Testing Services market throws light on different properties to curb the progress of fuel or industry. The focus is more on applicable sales strategies to increase the company’s productivity to achieve higher economic performance. Research reports use effective graphical presentation techniques such as tables, charts, graphs, diagrams, and info graphics.

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Important Coverage in the Healthcare Analytical Testing Services Market Report:

Detailed analysis of Global Healthcare Analytical Testing Services Market by a thorough assessment of the technology, product type, application, and other key segments of the report
Investigative study of the market dynamics including drivers, opportunities, restraints, and limitations that can influence the market growth
Comprehensive analysis of the regions of the Healthcare Analytical Testing Services industry and their futuristic growth outlook
Competitive landscape benchmarking with key coverage of company profiles, product portfolio, and business expansion strategies

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Finally, all aspects of the Healthcare Analytical Testing Services market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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