Dublin, Sept. 14, 2021 (GLOBE NEWSWIRE) -- The "Global Healthcare Analytical Testing Services Market Size, Share & Trends Analysis Report by Product Type (Medical Device, Pharmaceutical), by Region (APAC, North America), and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global healthcare analytical testing services market size is expected to reach USD 23.9 billion by 2028 at a CAGR of 9.8% over the forecast period. Growing emphasis on biosimilars, increased outsourcing of the aforementioned services by pharmaceutical companies, and rise in the number of clinical trials are some of the key factors expected to drive the global market in the years to come.
Biosimilars are FDA-approved treatments and possess highly identical properties to approved biologic drugs. They serve as a low-cost and effective treatment option when compared to biologics, which is anticipated to increase its demand remarkably in the coming years. An article on biosimilars published by Sandoz International GmbH, highlights analytical testing as a key stage in biosimilar development, thus creating demand for such services.
The global COVID-19 pandemic is expected to offer high growth opportunities to the providers of such services. As pharmaceutical companies across the world have started clinical trials for the development of vaccines and drugs for the treatment of COVID-19, the demand for analytical testing has increased. Also, to combat the coronavirus, there is a surge to meet the global needs including medical devices and pharma products that require rigorous testing before delivering the final product to the clients. This is expected to boost the demand for such services.
Healthcare Analytical Testing Services Market Report Highlights
- The stringent regulation in the medical device & pharmaceutical industry is fueling the adoption of analytical testing services
- The pharmaceutical product type segment led the global market with the largest revenue share of over 57% in 2020
- This growth was owing to high outsourcing of analytical testing by pharmaceutical companies as it requires highly skilled staff and specialized equipment
- North America dominated the global market with the largest revenue share of 42.0% in 2020 owing to the presence of the largest clinical trials market in the U.S.
- Asia Pacific is projected to be the fastest-growing regional market during the forecast period owing to the expansion of the biosimilar market in countries such as India
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Healthcare Analytical Testing Services Market Variables, Trends & Scope
3.1. Penetration & Growth Prospect Mapping
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.2. Market restraint analysis
3.2.3. Industry challenges
3.3. Healthcare Analytical Testing Services Market Analysis Tools
3.3.1. Industry Analysis - Porter's
3.3.1.1. Supplier power
3.3.1.2. Buyer power
3.3.1.3. Substitution threat
3.3.1.4. Threat of new entrant
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Technological landscape
3.3.2.3. Economic landscape
3.3.3. Major Deals & Strategic Alliances Analysis
Chapter 4. Healthcare Analytical Testing Services Market: Product Type Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Healthcare Analytical Testing Services Market Share, 2020 & 2028
4.3. Market Size & Forecasts and Trend Analyses, 2016 to 2028 for the following
4.3.1. Medical Device Analytical Testing Services
4.3.1.1. ExtracTable and Leachable
4.3.1.2. Material Characterization
4.3.1.3. Physical Testing
4.3.1.4. Bioburden Testing
4.3.1.5. Sterility Testing
4.3.1.6. Other Tests
4.3.2. Pharmaceutical Analytical Testing Services
4.3.2.1. Bioanalytical Testing
4.3.2.2. Method Development and Validation
4.3.2.3. Stability Testing
4.3.2.4. Other Testing Services
Chapter 5. Healthcare Analytical Testing Services Market: Regional Estimates & Trend Analysis
Chapter 6. Competitive Landscape
6.1. Recent Developments & Impact Analysis, By Key Market Participants
6.1.1. Pharmaceutical Product Development
6.1.1.1. Company overview
6.1.1.2. Financial performance
6.1.1.3. Product benchmarking
6.1.1.4. Strategic initiatives
6.1.2. ICON plc
6.1.2.1. Company overview
6.1.2.2. Financial performance
6.1.2.3. Product benchmarking
6.1.2.4. Strategic initiatives
6.1.3. LabCorp
6.1.3.1. Company overview
6.1.3.2. Financial performance
6.1.3.3. Product benchmarking
6.1.3.4. Strategic initiatives
6.1.4. Charles River Laboratories International Inc.
6.1.4.1. Company overview
6.1.4.2. Financial performance
6.1.4.3. Product benchmarking
6.1.4.4. Strategic initiatives
6.1.5. Syneos Health
6.1.5.1. Company overview
6.1.5.2. Financial performance
6.1.5.3. Product benchmarking
6.1.5.4. Strategic initiatives
6.1.6. SGS SA
6.1.6.1. Company overview
6.1.6.2. Financial performance
6.1.6.3. Product benchmarking
6.1.6.4. Strategic initiatives
6.1.7. Toxikon, Inc.
6.1.7.1. Company overview
6.1.7.2. Financial performance
6.1.7.3. Product benchmarking
6.1.7.4. Strategic initiatives
6.1.8. Intertek Group
6.1.8.1. Company overview
6.1.8.2. Financial performance
6.1.8.3. Product benchmarking
6.1.8.4. Strategic initiatives
6.1.9. Pace Analytical Services, LLC
6.1.9.1. Company overview
6.1.9.2. Financial performance
6.1.9.3. Product benchmarking
6.1.9.4. Strategic initiatives
6.1.10. Eurofins Scientific
6.1.10.1. Company overview
6.1.10.2. Financial performance
6.1.10.3. Product benchmarking
6.1.10.4. Strategic initiatives
For more information about this report visit https://www.researchandmarkets.com/r/o5t6h
