What This Report
Will Provide?
This study involved four major
activities in estimating the current size of the healthcare analytical testing
services market. Exhaustive secondary research was carried out to collect
information on the market, its peer markets, and its parent market.
The next step was to validate these findings, assumptions, and sizing with
industry experts across the value chain through primary research. Both top-down
and bottom-up approaches were employed to estimate the complete market size.
After that, market breakdown and data triangulation procedures were used to
estimate the size of segments and subsegments.
Expected Revenue Growth:
[327 Pages Report] The global healthcare
analytical testing services market size is projected to reach USD 8.4
billion by 2025 from USD 4.9 billion in 2020, at a CAGR of 11.4%.
Major Growth Boosters:
In the current global
scenario-where the focus on biologics and biosimilars has risen-it is expected
that the benefits of advanced healthcare analytical testing services will
ensure their greater adoption. The increasing demand for specialized testing
services, the number of clinical trials, and the acceptance of the QbD approach
in pharmaceutical research and manufacturing are other factors driving the
growth of this market.
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Recent Developments:
In January 2020, LabCorp’s Drug Development Business launched Preclinical,
Clinical, and Post-Approval Cell, and Gene Therapy Development Solutions
In June 2019, Eurofins Scientific acquired Transplant Genomics Inc. (US) to
expand its transplantation testing footprint
In May 2019, SGS acquired Chemical Solutions Ltd. (CSL) (US), a testing
laboratory specializing in elemental and heavy metal testing for food,
nutraceuticals, pharma, and cosmetic products
Key Questions Addressed in The Report:
1. Who are the top 10 players operating in the global healthcare analytical
testing services market?
2. What are the drivers, restraints, opportunities, and challenges in the healthcare
analytical testing services Industry?
3. What are the opportunities for stakeholders and provide details of the
competitive landscape for key players?
4. What will be growth of healthcare analytical testing services in North
America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?
Pharmaceuticals and Biotechnology Industries:
Based on the end user, the
market is broadly classified into pharmaceutical & biopharmaceutical
companies, medical device companies, and contract research organizations
(CROs). Pharmaceutical & biopharmaceutical companies hold the largest share
in the market. The largest share of this segment in the market can be
attributed to the tremendous amount of analytical testing required to support a
product from discovery, development, and clinical trials, through manufacturing
and marketing.
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Regional Growth Analysis:
North America held the largest
share in the healthcare analytical testing services market in 2019. This
dominance of North America in this market is due to the presence of many
pharmaceutical and biopharmaceutical companies, high investments and rising
focus on the biosimilars & biologics segment, and high allocation to
R&D.
Key Players:
The prominent players in the
global healthcare analytical testing services market are Eurofins Scientific
(Luxembourg), LabCorp (US), SGS (Switzerland), Charles River Laboratories (US),
WuXi PharmaTech (China), PPD (US), Element Materials Technology (UK), Pace
Analytical (US), Intertek (UK), Merck KGAA (Germany), Source BioScience (UK),
Almac Group (Ireland), ICON (Ireland), Frontage Labs (US), STERIS PLC (US), PRA
Health Sciences (US), Syneos Health (US), Medpace Holdings (US), LGC Limited
(UK), and Anacura (Belgium).
