Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Healthcare Analytical Testing Services market.

Trusted Business Insights presents an updated and Latest Study on Healthcare Analytical Testing Services Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Healthcare Analytical Testing Services market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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The global healthcare analytical testing services market is expected to value at more than US$ 3.5 Bn in 2019, and is expected to register a CAGR of 12.7%. The global healthcare analytical testing services market is segmented on the basis of service type, end user, and region.

Global Healthcare Analytical Testing Services Market: Introduction

Health care analytics refers to analysis related to healthcare by collecting data from mainly four areas of healthcare such as claims and cost data, pharmaceutical and research & development data, clinical data, and patients behavior and sentiments data. The primary objective of performing healthcare analytics is to gain insights into hospital management, patient records, costs, and diagnosis in order to systemize the process and obtain required data for development of overall healthcare sector. Moreover, analytical testing plays a critical role in end-to-end process of drug development and manufacturing.

Global Healthcare Analytical Testing Services Market: Dynamics

Increasing focus of pharmaceutical manufacturers towards the adoption of quality by design (QbD) and rising preference for outsourcing analytical testing in order to reduce time and cost of overall process are among some of the major factors expected to drive growth of the global healthcare analytical testing services market.
In addition, increasing number of public and private contracts and agreements for research and development outsourcing is another factor expected to further boost growth of the global healthcare analytical testing services market to a certain extent.

However, lack of skilled professionals is a major factor that could hamper growth of the global healthcare analytical testing services market to some extent.

Increasing investments on R&D initiatives by major players and rising demand for specialized analytical testing services are expected to create revenue opportunities for key players operating in the global market over the forecast period.

Going by an optimistic scenario, revenue from the global healthcare analytical testing services market is projected to increase at a CAGR of 14.3% and reach a value of over US$ 10.8 Bn in 2027. This projected growth is attributed to rising penetration of AI in healthcare applications, increasing demand for specialized analytical testing services -such as bioanalytical testing services and batch release testing services -in developing countries, and increasing life-science R&D activities and initiatives. In addition, likely and conservative scenarios indicate CAGR of 12.7% and value of over US$ 9.4 Bn, and CAGR of 11.1% and value of over US$ 8.1 Bn respectively for the same forecast period.

Global Healthcare Analytical Testing Services Market Analysis, by Service Type

Among the service type segments, the bioanalytical testing services segment is estimated to account for moderate revenue share and is expected to maintain its dominance over the forecast period. The batch release testing services segment is estimated to account for the second major revenue share in the global market. The bioanalytical testing services segment is expected to register CAGR of over 12.8%, as it is conducted for safety and efficiency.

Global Healthcare Analytical Testing Services Market Analysis, by End User

Currently, among the end user segments, the pharmaceutical companies segment accounts for major revenue share, and is expected to maintain its dominance over the forecast period. The contract research organizations segment is expected to register CAGR of over 12.9%. The contract research organizations segment is anticipated to account for the second highest revenue share in the global market in the near future.

Global Healthcare Analytical Testing Services Market Analysis, by Region

The market in North America is expected to account for major revenue share in the global market in terms of revenue and is estimated to maintain its dominance over the forecast period. Presence of prominent healthcare analytical testing service provider companies, coupled with high investment for development in this sector are major factors driving growth of the healthcare analytical testing services market in North America.

For instance, in November 2015, Merck KGaA acquired Sigma-Aldrich Corporation, which is a US-based company that develops, manufactures, purchases, and distributes various chemicals, biochemicals, and equipment products worldwide. This acquisition focuses on bringing together the products and services, advanced capabilities, and exceptional talent of Merck Millipore and Sigma-Aldrich, in order to create a global leader in the life sciences vertical.

The market in Europe accounts for second-highest revenue share and is expected to register lucrative growth over the next 10 years.

Global Healthcare Analytical Testing Services Market Segmentation:

Global Healthcare Analytical Testing Services Market Segmentation, by Service Type:

Bioanalytical Testing Services

  • Cell-Based Assays
  • Virology Testing
  • Immunogenicity and Neutralizing Antibody Testing
  • Biomarker Testing
  • Pharmacokinetic Testing

Physical Characterization Services

  • Laser Particle Size Analysis
  • Thermal Analysis
  • Image Analysis
  • Surface Area Analysis

Method Development and Validation

  • Extractable and Leachable Method Development and Validation
  • Process Impurity Method Development and Validation
  • Stability Indicating Method Validation
  • Other (Cleaning Validation Method Development, Analytical Standard Characterization, and Technical
  • Consulting)

Raw Material Testing

  • Complete Compendial Testing
  • Heavy Metal Testing
  • Container Testing
  • Other (Karl Fischer Analysis and Wet Chemistry Analysis)

Batch Release Testing Services

  • Dissolution Testing
  • Elemental Impurity Testing
  • Disintegration Testing
  • Other (Hardness Testing and Friability Testing)

Stability Testing

  • Drug Substance Stability Testing
  • Formulation Evaluation Stability Testing
  • Accelerated Stability Testing
  • Other (Photo stability Testing and Comparative Stability Testing)

Microbial Testing

  • Microbial Limit Testing
  • Sterility Testing
  • Endotoxin Testing
  • Other (Preservative Efficacy Testing and Water Testing)

Environmental Monitoring

  • Air Testing
  • Wastewater/ETP Testing

Global Healthcare Analytical Testing Services Market Segmentation, by End User:

  • Pharmaceutical Companies
  • Biotechnology Companies
  • Medical Device Companies
  • Contract Research Organizations

Global Healthcare Analytical Testing Services Market Segmentation, by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Market Players included in the report: Global Healthcare Analytical Testing Services Market

  • Almac Group Limited
  • Element Materials Technology Group Limited
  • Eurofins Scientific SE
  • PPD Development, LP
  • Source BioScience plc
  • Intertek Group plc
  • Laboratory Corporation of America, Inc.
  • BioReliance Corporation (Merck KGaA)
  • Charles River Laboratories, Inc.
  • WuXi AppTec, Inc. (WuXi PharmaTech (Cayman) Inc.)

Key Insights Covered: Global Healthcare Analytical Testing Services Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Healthcare Analytical Testing Services industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Healthcare Analytical Testing Services industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Healthcare Analytical Testing Services industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Healthcare Analytical Testing Services industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Healthcare Analytical Testing Services industry.

Research Methodology: Global Healthcare Analytical Testing Services Market

  • Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  • Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  • Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.

 

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