CHICAGO, September 30, 2021 / PRNewswire / – According to New Market Research Report “Healthcare Analytical Testing Services Market by type (method development and validation, cell testing, stability testing, heavy metal testing, thermal analysis, cleaning validation), end user (pharmaceutical companies, CRO) – Global forecast to 2026 “, published by MarketsandMarkets â¢, the global market is expected to reach 9 USD0.8 billion by 2026 of $ 5.6 billion in 2021, at a CAGR of 11.9%.
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Market growth is driven by analytical testing of biologics and biosimilars, the increasing outsourcing of analytical testing by pharmaceutical companies and the growing number of clinical trials.
In this report, the global healthcare analytical testing services market is segmented by type, end user, and region.
Based on type, the market is segmented into bioanalytical testing, physical characterization, method development and validation, stability testing, batch release testing, raw material testing, microbial testing, and environmental monitoring services.
The bioanalytical testing segment holds the highest market share, by type, in the healthcare analytical testing services market, during the forecast period.
In 2020, the bioanalytical testing segment accounted for the largest share of the market. The large share of this segment can be attributed to the large share of this segment is mainly attributed to the increasing number of drugs in the biopharmaceutical pipeline and the growth of the biopharmaceutical industry.
The batch release testing segment is expected to grow at the highest CAGR, by type, during the forecast period.
The batch release testing segment is expected to grow at the highest CAGR during the forecast period. The highest growth in this segment can be attributed to the need for these services to ensure the quality of pharmaceutical and biopharmaceutical products before they are released for sale, supply or export.
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North America holds the highest market share, by region, during the forecast period
Healthcare analytical testing services market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America is expected to hold the highest market share, by region, during the forecast period. The high share of this market is due to the presence of a well-established base of pharmaceutical and biopharmaceutical companies, high investments in the biosimilars and biologics segment and increased R&D spending.
Major players in the healthcare analytical testing services market include Eurofins Scientific (Luxembourg), Laboratory Corporation of America Holdings (United States), SGS SA (Switzerland), Charles River Laboratories (USA), WuXi AppTec Co. Ltd. (China), PPD, Inc. (US), Element Materials Technology (UK), Thermo Fisher Scientific (US), Pace Analytical Services, LLC. (United States), Intertek Group LLC. (United Kingdom), Merck KGaA (Germany), Danaher Corporation (United States), Source BioScience (United Kingdom), Almac Group (United Kingdom), ICON plc (Ireland), Frontage Laboratories, Inc. (United States), STERIS plc (United States), Sartorius AG (Germany), ALS Life Science (United States), Syneos Health (United States), Medpace Holdings, Inc. (United States), Cinven (LGC Limited) (United Kingdom), Anacura (Belgium), Impact Analytical (United States) and CD BioSciences (United States).
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