Pharmaceutical Testing and Analytical Services Market Size to Surge At 11% CAGR Through 2027

 The research report on ‘global Pharmaceutical Testing and Analytical Services market’ covers vital aspects like current market share and industry size, technological trends as well as projected remuneration over 2020-2027. The study scrutinizes the prevalent restraints and growth opportunities, alongside various updates pertaining to COVID-19 outbreak on the business outlook.

 Global Pharmaceutical Testing and Analytical Services Market is valued approximately USD 3.50 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.00% over the forecast period 2020-2027.

Pharmaceutical testing and analytical services serve a variety of purposes and used to identify the chemical composition and molecular structure of each individual substance contained in a medication. This approach is mainly used to provide insights into a drugs performance and safety considerations. Also, these services can predict the medications ability to reach to specific target within a body. Presently, the outbreak of coronavirus has put an immense pressure on life sciences sector to innovate in treatments and vaccines. Also, there is an unprecedented demand for technical support pertaining to finished product and raw material testing.

As a result, companies in the pharmaceutical testing and analytical services market are meeting demand pertaining to the discovery and development of small-molecule drugs and vaccines. Also, the key players are focusing on strategies such as product launch, innovation and merger & acquisition to sustain themselves amidst fierce competition. Growing need for the development and cost reduction of core competencies by pharmaceutical companies and the rising acceptance of outsourcing would drive the growth of the market during the forecast period of 2020-2027.

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Global Pharmaceutical Testing and Analytical Services Market Competitive Landscape Analysis (Revenue, USD billion, 2020-2027)

  • Eurofins Scientific
  • Laboratory Corporation of America Holdings
  • Charles River Laboratories International, Inc.
  • SGS S.A
  • Intertek Group plc
  • RD Laboratories, Inc
  • WuXi AppTec Co., Ltd.
  • DYNALABS LLC (Infinity Laboratories)
  • ARL Bio Pharma

As per Pharmaceutical Research and Manufacturers of America report of 2018, biopharmaceutical research companies in U.S. are developing 200 medicines for heart diseases, 537 medicines for neurological disorders, 260 vaccines enhancing research and development activities. As per the Canadian Government, total research and development expenditure in scientific research by Canada accounted for $7,612 million in 2017/2018. Hence, pertaining the above facts, OBRC analysis finds North America as the second most favorable region for investment over the forecast period (2017-2024). However, the lack of skilled professional is hampering the growth of the market during the forecast period of 2020-2027.

The regional analysis of global Pharmaceutical Testing and Analytical Services market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region due to the well-established healthcare infrastructure and familiarity with the regulatory scenario. Also, the dominance of the region is witnessed owing to the growing need for the development and cost reduction of core competencies by pharmaceutical companies. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market.

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Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Service Type:

  • Bioanalytical Testing
  • Method Development & Validation
  • Raw Material Testing
  • Stability Testing
  • Microbial Testing
  • Others

By End-User:

  • Medical Device Companies
  • Pharmaceutical & Biopharmaceutical Companies
  • Others

Global Pharmaceutical Testing and Analytical Services Market Regional Analysis (Revenue, USD billion, 2020-2027)

North America

  • U.S.
  • Canada

Europe

  • UK
  • Germany
  • Spain
  • France
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Mexico

Rest of the World

Related Report:

U.S. Ambulatory Surgical Centers Market Size By Ownership, By Surgery Type, By Specialty Type, By Service, Industry Analysis Report, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026

U.S. ambulatory surgical centers market is anticipated to witness unprecedented growth throughout the forecast timeframe. This can be primarily attributed to the growing burden of various chronic health conditions among the U.S. adult and geriatric population. Ambulatory surgical centers continue to gain prominence as cost-effective and faster options for surgeries as compared to hospitals and other medical establishments.

On the basis of ownership, the market can be segmented into physician only, corporation only, hospital only, hospital & corporation, and physician & corporation. The physician & corporation segment is projected to record a healthy CAGR of 4.4% through 2026. This can be credited to the fact that the corporation handles all financial matters, allowing the physician to focus only on surgical procedures in the facility.

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