Healthcare Analytical Testing Services Market By Service Type (Physical Characterization Services, Method Development And Others), By End User (Pharmaceutical Companies, Biotechnology Companies, and Others), and Region - Global Forecast to 2028
7th June 2019
find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
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
- Asia Pacific
- Latin America
- Middle East & Africa
- 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.)
- 1 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
- 2 Chapter 2
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Service Type
- 2.2.2 Market Snapshot, By End User
- 2.2.3 Market Snapshot, By Region
- 2.2.4 Opportunity Map Analysis
- 2.1 Report Description
- 3 Chapter 3
- 1 Chapter 1
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