Global Healthcare Analytical Testing Services Market to 2027: Growing Focus on Analytical Testing of Biologics & Biosimilars and Increasing Number of Clinical Trials Drives Growth

DUBLIN, Feb. 28, 2023 /PRNewswire/ -- The "Healthcare Analytical Testing Services Market by Type (Biomarker Testing, Stability Testing, Raw Material Testing, Batch-release Testing, Cleaning Validation, End User (Pharmaceutical Companies, Medical Device Companies, CRO) - Global Forecast to 2027" report has been added to  ResearchAndMarkets.com's offering.

The healthcare analytical testing services market is projected to reach USD 11.1 billion by 2027 from USD 6.5 billion in 2022, at a CAGR of 11.4%.

The bioanalytical testing services is expected to register the highest growth during the forecast period

On the basis of type, the healthcare analytical testing services market is segmented into bioanalytical testing, physical characterization, method development & validation, stability testing, batch-release testing, raw material testing, microbial testing, and environmental monitoring services.

Bioanalytical testing services segment is expected to register the highest growth during the forecast period. The high growth of this segment can be attributed to the increasing demand for outsourced analytical testing services during pharmaceutical drug developments phase, and validation services to help pharmaceutical companies achieve regulatory approvals.

The immunogenicity & neutralizing antibody testing segment to register the highest CAGR during the forecast period

Based on type, the bioanalytical testing services market is segmented into cell-based assays, virology testing, biomarker testing, immunogenicity & neutralizing antibody testing, pharmacokinetic testing, and other bioanalytical testing services. Immunogenicity & neutralizing antibody testing segment to register the highest growth during the forecast period.

The growth in this market is attributed to the its importance in drug development and approval process. As, during clinical development, unwanted immune response to protein therapeutics should be carefully monitored. Consequently, immunogenicity testing is mandatory to obtain regulatory approval and to ensure safety for human use.

The medical device companies segment to register the highest growth during the forecast period

Based on end user, the the healthcare analytical testing services market has been segmented into pharmaceutical & biopharmaceutical companies, medical device companies, and contract research organizations (CROs). The medical device companies segment is expected to grow at the highest CAGR during the forecast period.

The high growth rate of this segment is attributed demand for healthcare analytical testing services among medical device companies for validation testing services that aid with regulatoy approvals for device launch.

APAC is expected to grow at the highest CAGR during the forecast period

The healthcare analytical testing services market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period. This high growth rate of this market can be attributed the large number of qualified researchers and the low cost of operations in APAC countries, and the rapid growth in the pharmaceutical and biopharmaceutical industries in the region.

Market Dynamics

Drivers

• Growing Focus on Analytical Testing of Biologics & Biosimilars
• Increasing Outsourcing of Analytical Testing by Pharmaceutical and Medical Device Companies
• Increasing Number of Clinical Trials
• Growing R&D Expenditure in Pharmaceutical & Biopharmaceutical Industry
• Rising Acceptance of Quality-By-Design Approach in Pharma Research and Manufacturing

Restraints

• Shortage of Skilled Professionals
• Increasing Pressure on Market Players Due to Rising Costs and Market Competition

Opportunities

• Adoption of New Techniques and Technologies
• Growing Focus on Emerging Markets

Challenges

• Specific Requirements for Innovative Formulations and Medical Devices
• Need to Improve Sensitivity of Bioanalytical Methods

Case Study Analysis

• Case Study 1: Wellstat Therapeutics & Almac Group
• Case Study 2: Method Development Case Study

Companies Mentioned

• Absorption Systems
• Almac Group
• Als Life Sciences
• Bioagilytix Labs
• Celerion
• Charles River Laboratories
• Element Materials Technology
• Eurofins Scientific
• Frontage Laboratories, Inc.
• Icon plc
• Intertek Group plc
• Iqvia Inc.
• Laboratory Corporation of America Holdings
• Lgc Limited
• Medpace Holdings
• Merck Kgaa
• Pace Analytical Services
• Parexel International Corporation
• Sartorius Ag
• Sgs S.A.
• Source Bioscience
• Steris plc
• Strategic Choices Made
• Syneos Health Inc.
• Thermo Fisher Scientific Inc.
• Wuxi Apptec

For more information about this report visit https://www.researchandmarkets.com/r/pji3g5

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