Overview:

Medical research and development activities across the globe is gaining speed and biopharmaceutical, pharmaceutical, and medical device manufacturers use these service in order to support the ongoing development activities. The service provides and expensive support from drug discovery through clinical development or clinical trials to commercial use.

Market Dynamics:

High investment in drug discovery by the government and major players and increasing number of drugs in biopharmaceutical pipeline are major factors expected to drive the growth of global healthcare analytical testing services market. In addition, increasing number of clinical trials along with outsourcing of analytical testing by pharmaceutical companies is on rise this is another important factor expected to augment the growth of target market.

Major players approach towards enhancing the business presence and increase the customer base through merger and acquisition activities is another factor expected to further support the growth of target market.

However, factors such as lack of skilled labor workforce and lack of technologically advanced medical device and equipments in developing countries are expected to hamper the growth of global healthcare analytical testing services market.

Key Trends:

Business development activities by major players through introduction of innovative solution in order to attract new customer and enhance the revenue share is the key trend observed in the target market. In 2020, Laboratory Corporation a clinical laboratory company that offers clinical laboratory tests used by the medical profession in routine testing, and other patient diagnosis launched preclinical, clinical, and post-approval cell, and gene therapy development solutions. This is expected to help the company to enhance the product portfolio and increase the customer base.

Regional Analysis:

For detailed understanding of market dynamics, the global healthcare analytical testing services market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America accounted for the major revenue share in 2018, owing to high government spending on development of healthcare sector. In addition, major players are investing high for drug development along with increasing analytical testing rate of biosimilar and biologics are among other factors expected to augment the growth of target market.

Scope of the Report:

Detailed Segmentation:

Global Healthcare Analytical Testing Services Market, By Type:

• Raw Materials.
• Method Validation
• Bioanalytical Services
• Microbial Testing
• Environmental Monitoring
• Stability

Global Healthcare Analytical Testing Services Market, By End Use:

• Pharmaceutical & Biopharmaceutical Companies
• Medical Device Companies
• Contract Research Organizations

Key Players Covered:

Key players operating in the market includes, Anabiotec, Intertek Group, Exova Group, Anabiotec, Labcorp, PPD, Almac Group, Wuxi PharmaTech, Source BioScience, and Charles River Laboratories.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Healthcare Analytical Testing Services Market by type, end use, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global healthcare analytical testing services market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.