Overview:

The global pharmaceutical testing and analytical services market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Testing of pharmaceutical products is a key part of approval and registration process in order to manufacture particular pharmaceutical. The testing and analytical services provide quantitative and qualitative assessment of raw materials.

Market Dynamics:

Increasing outsourcing of analytical testing among pharmaceutical companies is a key factor driving growth of the global pharmaceutical testing and analytical services market. The outsourcing services are becoming most preferred option for many pharmaceutical companies to increase operational efficiency, gain access to therapeutic expertise, and benefit from on-demand services. In addition, rising focus on biosimilar testing and biologics is another factor fueling growth of the global market. Moreover, rising number of clinical trials worldwide is another aspect projected to fuel the growth of the global market in the next 10 years. Increasing prevalence of chronic diseases and rising demand for clinical trials in developing countries are further supporting the market growth.

Key Trend:

Increasing merger and acquisition activities by key players is a key trend observed in the global pharmaceutical testing and analytical services market. For instance, in June, 2017, Eurofins acquired EAG Laboratories to provide broad level custom synthesis support with special expertise in synthesis of radiolabeled materials.

Regional Analysis:

For detailed understanding of market dynamics, the global market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America accounted for highest share in terms of revenue and is expected to maintain its dominance during the forecast period. This can be attributed to the presence of many pharmaceutical and biopharmaceutical companies, high investments, and rising focus on the biosimilars and biologics segment in countries in the region. The Asia Pacific market is expected to witness highest growth in terms of revenue during the forecast period. Growing number pharmaceutical manufacturing facilities, relatively low operational costs, and rising investments in research activities are major factors expected to drive growth of the Asia Pacific pharmaceutical testing and analytical services market during the forecast period.

Scope of the Report:

Detailed Segmentation:

Global Pharmaceutical Testing and Analytical Services Market, By Type:

• Raw Materials Testing
• In-Process and Product Release Testing
• Finished Pharmaceutical Products Testing
• Environmental Samples

Global Pharmaceutical Testing and Analytical Services Market, By End User:

• Pharmaceutical & Biopharmaceutical Companies
• Research Organizations
• Hospital and Clinics

Key Players Covered:

Key players operating in the global pharmaceutical testing and analytical services market includes, Eurofins Scientific SE, SGS, Envigo, Element Materials Technology Group Limited, PPD Inc., Pace Analytical Services Inc., Intertek Group, DYNALABS, RD Laboratories, and ADPEN Laboratories.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Pharmaceutical Testing and Analytical Services Market by type, end user, 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 pharmaceutical testing and analytical 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.