Market Research Report
Healthcare Analytical Testing Services Market by Type (Method Development & Validation, Cell-Based Assays, Stability Testing, Heavy Metal Testing, Image Analysis, Virology Testing) & End user - Global Forecast to 2025
|Published by||MarketsandMarkets||Product code||933794|
|Published||Content info||328 Pages
Delivery time: 1-2 business days
|Healthcare Analytical Testing Services Market by Type (Method Development & Validation, Cell-Based Assays, Stability Testing, Heavy Metal Testing, Image Analysis, Virology Testing) & End user - Global Forecast to 2025|
|Published: April 24, 2020||Content info: 328 Pages||
"The healthcare analytical testing services market is projected to grow at a CAGR of 11.4%."
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.
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.
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 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 the large number of qualified researchers, low cost of operations in APAC countries, presence of a large treatment-naive population, retention of participants in clinical trials, and continuously improving regulatory procedures.
The breakdown of primary participants is mentioned below:
The report analyzes the various healthcare analytical testing services products and their adoption patterns in different industries such as pharmaceutical and biopharmaceutical companies, medical device companies, and CROs. It aims at estimating the market size and future growth potential of the global healthcare analytical testing services market for different segments such as by type, end user, and regions. The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.
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This report provides insights on the following pointers:
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.